GBPUSD | Perspective for the new week | Follow-up

Despite a choppy situation for the GBPUSD where price action was caught with a range at 1.22500 and 1.21000, the Pound Sterling rose by 0.1% to close the week at 1.22250, and this is likely as a result of the data released earlier on Friday. At this point, I am of the opinion that the data from the macroeconomic events (Claimant Count Change & ILO Unemployment Rate) coming up in the week will have a significant impact on price movement. In this video, we reviewed the charts from a technical standpoint and decided to use the channel (1.22500 and 1.21000) as a yardstick for trading opportunities.

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Giao dịch đang hoạt động:

Following a breakout of the key level identified in the video at 1.22500, a retracement appears to be going on here. So, we have a new support and resistance level for the week at 1.22200 and 1.22900 respectively and we shall be waiting for a signal at either a breakdown or breakout of this structure.

Good morning

Giao dịch đang hoạt động:

Secure sell position

Giao dịch đang hoạt động:

Giao dịch đang hoạt động:

The choppy situation continues!
The 1.21650 level continues to hold buying pressure as price action takes out the sell position with a small profit. Even as I tend towards a bearish expectation below the 1.222000 level; Lets's see how this current candle will close... Update coming up soon

Good morning

Giao dịch đang hoạt động:

Just as discussed during our live session this morning. Price action takes out the sell position to trigger a buy position at the breakout of the 1.22200 level, and secure the buy position while looking forward to adding more position at the breakout/retest of the next structure at the 1.22500 level.

Giao dịch đang hoạt động:

Ensure that all buy positions as selling pressure resume at the 1.22500 level. So, we should be ready to sell at the breakdown/retest of the 1.22200 level... Update coming up soon.

Giao dịch đang hoạt động:

Secure buy positions

Giao dịch đang hoạt động:

Secure all buy positions as the third position got triggered at the breakout of the 1.22900 Level.

Good morning

Đóng lệnh: đạt mục tiêu:

Price action hits TP target - A total of 340 pips in profit with 3 positions.
Update coming up soon

Giao dịch đang hoạt động:

As we anticipate data from the Retail sales report in 25 minutes; a simple set-up has been identified for the 15-minute timeframe.

Bình luận:

The Retail sales data came in below expectation and this development might reflect as bullish traction for the US dollar... Secure the current buy position at the break-even level. Update coming in soon

Giao dịch đang hoạt động:

Secure buy positions

Giao dịch đang hoạt động:

Price action takes out the buy position with a small profit. Looking forward to a breakdown/retest of the bullish trendline at the 1.28350 level for selling opportunities.

Giao dịch đang hoạt động:

Two sell positions triggered, secure all positions

Giao dịch đang hoạt động:

Secure all sell posibtions

Good morning

Giao dịch đang hoạt động:

Buy pressure continues to stall the bearish drive; if price action does not break below the 1.23300 level, risking a breakout/retest of the 1.23600 level appears reasonable at this juncture. Ensuring all previous sell positions are secured.

Giao dịch đang hoạt động:

Secure the buy position

Giao dịch đang hoạt động:

Giao dịch đang hoạt động:

Secure buy position

Giao dịch đang hoạt động:

Price action takes out the buy position with about 30 pips profit as selling pressure resumes. Buyers are unable to break the previous high at the 1.24300 zone to find a new Lower High. Looking forward to selling opportunities.

Good morning

Giao dịch đang hoạt động:

We discussed this at length during the live session (replay on my channel)