GBPUSD | Swing & Fundamental AnalysisFinally, the market has reacted after the decisions of the FED, BOC, BOE, ECB, BOJ, CPI, NFP, breaking free from a congestion phase. Today's data highlighted the resilience and strong growth of the American labor market, with inflation still below the 2% target. The possibility of a Fed rate cut in June is on the table, but remains uncertain; I strongly doubt it will happen in March or May.
GBPUSD presents a bearish structure with an H4 candle that broke the entire structure, landing in the demand zone at the 1.262 level. Personally, I foresee a continuation to the downside, at least below 1.26, then retracing to the 50% Fibonacci level and consolidating in the reversal zone intersecting with the trendline, before continuing the downward trend towards the 1.2520 area as the final target.
This is what I am currently observing at the H4 level. In summary, it's time to celebrate because after two weeks of sideways movement, today we've seen the first signs of momentum from the market. So, get ready for a spectacular start to the week with an acceleration from traders. Greetings and happy trading to everyone from Nicola.
