GBPUSD | Perspective for the new week | Follow-up

Sep 29

The GBP/USD hit its highest level against the US dollar in over two and a half years, and traders are closely watching for what's next. In this video, we break down the fundamental and technical factors driving the pair’s performance. With the Bank of England expected to move more slowly than the Federal Reserve on rate cuts, the pound is gaining an edge, though momentum has stalled at the $1.34350 resistance zone. Meanwhile, US inflation data shows signs of slowing, but this hasn't solidified expectations for a big rate cut from the Fed in November.

In this video, I walk you through the key technical structure that could guide trading decisions for the week ahead.

GBPUSD Technical Analysis:
Will buyers maintain momentum above $1.33700 next week? Watch this video for key trades this week. Join the discussion for updates on GBP/USD trading. Stay tuned for more content. Happy trading!

Disclaimer Notice:
Trading in the foreign exchange market and other instruments carries a high risk and may not be suitable for all investors. The content provided here is for educational purposes only. Evaluate your financial situation and consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.

Oct 1

Trade active

🔔 Market Update: Navigating Uncertainty After Powell’s Speech

Following yesterday's live stream, our buy position was taken out amid the market's uncertainty ahead of Fed Chair Jerome Powell's speech. Powell's comments suggest a less aggressive rate-cut path than anticipated. He suggested two more rate cuts by year-end, totalling a 50 basis point reduction.

Currently, the GBP/USD pair is struggling to gain traction as traders await key US labor market data, which could provide fresh insights on future Fed rate moves. Today's focus will be on the US JOLTS Job Openings and ISM Manufacturing PMI data.

Given the current market structure, it’s wise to secure profits on the current sell position, with the 1H technical setup guiding today's trades. Stay tuned for more updates.

Happy New Month

Oct 1

Trade active

Two sell positions active; secure positions

Oct 3

Trade active

Following our live stream session yesterday, the trading set-up for Wednesday's session finally activated a sell position to complete the consolidation phase. This came after BoE Governor Andrew Bailey hinted at potential aggressive rate cuts if inflation eases further. Escalating tensions in the Middle East are fueling safe-haven flows, which continue to put downward pressure on the British Pound.

On the other hand, stronger US Treasury yields and positive labor market data are providing solid support for the US Dollar. The ADP report showed 143,000 jobs added in September, surpassing expectations, with wages also rising by 4.7% year-over-year.

With these factors in play, securing some profit as GBP/USD approaches the $1.31600 zone is a prudent move. Stay tuned for updates as we watch for fresh opportunities around the $1.31600 zone.

Good Morning