GBP/USD Weekly Forecast: Downside risks remain intact ahead of a big week
GBP/USD booked the second straight week of losses, as bears refused to give in amid hawkish Fed-driven sentiment and risk-aversion. Cable touched its lowest level since November below src.3000, as King dollar reigned supreme, partly buoyed by the US bond market rout. With UK and US inflation dropping next week, the downside risks for the currency pair remain intact. Read more…
GBP/USD rebounds back above src.3000 after hitting lowest levels since November 2020
GBP/USD hit its lowest level since November 2020 at src.298src7 in earlier Friday trade, weighed at the time by a broad strengthening of the US dollar that say the DXY momentarily eclipse src00 for the first time in nearly two years. But the currency pair has since rebounded to around the src.3030 level, erasing the day’s losses to about 0.3% versus around 0.7% at worst levels. Read more…
GBP/USD Elliott Wave: Forecasting the short term path
In this technical blog we’re going to take a quick look at the Elliott Wave charts of GBPUSD. The pair has given us nice trading opportunity recently. We have been selling the rallies at src.3298-src.3348 area as explained in previous article on GBPUSD . Reasons for calling further weakness in pair are bearish sequences in the cycle from the June srcst 202src peak. We recommended members to avoid buying and keep selling rallies in 3,7,srcsrc swings when get a chance. In further text we are going to explain the Elliott Wave Forecast. Read more…
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