GBPUSD OUTLOOK
I believe that the GBPUSD will begin its bearish movement soon for the following reasons:
we see that the market has been moving within a bearish channel for quite some time now respecting the supporting and resisting trendlines.
market has also reached a strong support zone being turned resistance after market had broken through on through on the 4th of November last year and is now retesting it.
this bullish movement has resulted in a bull back to the 61.8% fib level ( a well known level for pull backs to back there reversal.
giving us 3 confluences for a sell.
HOWEVER a sell right now may be seen as a bit risky as when we look in closer we notice a bullish channel that has not been broken as yet, waiting for a break below the channel and a retest will give us the final confirmation needed to sell. we will sell now but will keep this in mind
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fundamentals
TUESDAY, JANUARY 11
00:01
GBP BRC Like-For-Like Retail Sales (YoY)(Dec)
N/A
GBP NIESR GDP Estimate (3M)(Dec)
15:00
USD Fed's Chair Powell testifies
we see that the market has been moving within a bearish channel for quite some time now respecting the supporting and resisting trendlines.
market has also reached a strong support zone being turned resistance after market had broken through on through on the 4th of November last year and is now retesting it.
this bullish movement has resulted in a bull back to the 61.8% fib level ( a well known level for pull backs to back there reversal.
giving us 3 confluences for a sell.
HOWEVER a sell right now may be seen as a bit risky as when we look in closer we notice a bullish channel that has not been broken as yet, waiting for a break below the channel and a retest will give us the final confirmation needed to sell. we will sell now but will keep this in mind
---------------------------------------------------------------------------------------------------------------------
fundamentals
TUESDAY, JANUARY 11
00:01
GBP BRC Like-For-Like Retail Sales (YoY)(Dec)
N/A
GBP NIESR GDP Estimate (3M)(Dec)
15:00
USD Fed's Chair Powell testifies
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