Today's update on the GBP/USD pair.
TECHNICALS:
Cable faced some strong demand in the last few hours after reaching a major H1 structural support. Recently, the H1 downtrend showed strength and accelerated to the H1 support, but the pullback formed a higher high and doesn't really show much decision to break below the 1.3013 level.
A break below the 1.3085 structural resistance could push the price to 1.3122 and 1.3170.
POSITIONING:
Pound remains in demand with the total bearish positioning decreasing the previous week among all reported market participants. Open interest stays at 1.4K.
INTEREST RATES:
Interest rates are showing a slight bullish divergence with the price which could provide some support in the short run.
RISK SENTIMENT:
Risk appetite is mixed to slightly positive today, with most major indices closing in the green, and safe-havens slightly lower. This could provide some support for the pair.
UPCOMING ECONOMIC REPORTS:
No major economic reports scheduled for today.
== SUMMARY ==
My traders and I remain bullish on GBP/USD. Friday's USD strength is slowly reversing today as expected, but we need a close above 1.3085 (fresh HH) to consider a buy.
Please hit the "LIKE" button if you find this post useful. Also, don't forget to follow to get more trade ideas like this. Thanks!
TECHNICALS:
Cable faced some strong demand in the last few hours after reaching a major H1 structural support. Recently, the H1 downtrend showed strength and accelerated to the H1 support, but the pullback formed a higher high and doesn't really show much decision to break below the 1.3013 level.
A break below the 1.3085 structural resistance could push the price to 1.3122 and 1.3170.
POSITIONING:
Pound remains in demand with the total bearish positioning decreasing the previous week among all reported market participants. Open interest stays at 1.4K.
INTEREST RATES:
Interest rates are showing a slight bullish divergence with the price which could provide some support in the short run.
RISK SENTIMENT:
Risk appetite is mixed to slightly positive today, with most major indices closing in the green, and safe-havens slightly lower. This could provide some support for the pair.
UPCOMING ECONOMIC REPORTS:
No major economic reports scheduled for today.
== SUMMARY ==
My traders and I remain bullish on GBP/USD. Friday's USD strength is slowly reversing today as expected, but we need a close above 1.3085 (fresh HH) to consider a buy.
Please hit the "LIKE" button if you find this post useful. Also, don't forget to follow to get more trade ideas like this. Thanks!
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.