GBP/USD - US employment data falls + Rising Channel in H4

GBP/USD continues to respect a well-defined rising channel on the H4 timeframe after reacting positively from a bullish order block near channel support. Price has reclaimed the Ichimoku cloud with a fresh bullish cloud crossover, suggesting momentum is shifting back in favor of buyers. As long as price remains above the highlighted demand zone, the probability favors a continuation toward the upper boundary of the channel where the next resistance levels are located.

Key Levels (Must Watch) :
1st Resistance: 1.36542
2nd Resistance: 1.37311
Support Zone: 1.32900 – 1.33300

US Jobs Miss Weakens Dollar :
July employment data came in weaker than expected, reducing the probability of another near-term Fed hike and supporting GBP/USD

Disclaimer: This analysis is for educational purposes only.

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액티브 트레이드

4일 전

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Today CPI Data, gives perfect direction for USD pairs

4일 전

노트

1️⃣The dollar has already lost some support after the weak US jobs report. It reduced expectations for near-term Fed tightening.

2️⃣Recent UK labour/pay data have not been weak enough to completely remove expectations for restrictive BoE policy. That gives the pound some yield support.

3️⃣US inflation data became very important, Traders were waiting for the US July CPI inflation report.

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