GBPUSD | Perspective for the new week | Follow-up

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Price action traded within a range last week as it makes quite a bit of sense that we would see this market become very choppy ahead of the Federal Reserve interest rate decision coming up next week. The Shockwaves from the health of the banking sector following the rescue of Silicon Valley Bank and Signature Bank by the Federal Deposit Insurance Corp last week have increased tension as fears that the U.S. economy could end up in a deep recession still lingers in the air. In this video, we did a technical dissection of the GBPUSD chart with the hopes of identifying the potential direction in the new week. We observed the break of the bearish trendline at the $1.20000 zone suggesting a bullish signal, but there’s so much noise just above this structure that the possibility of a range-bound market before answers from the Federal Reserve is a condition to consider in our plans.

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Transaction en cours

Price action has continued to oscillate around the key level identified in the video at the $1.22000 zone hereby forming a simple channel. So, we shall be looking forward to either a breakout or breakdown/retest for trading opportunities.

Good morning

Transaction en cours

Secure buy position

Transaction en cours

Secure all buy positions

Transaction en cours

Price action drops back into the entry zone of the second position. We remain patient to see how price action reacts to this structure to determine our next line of action. Join our morning live session in 30 minutes from now for more details

Good morning

Transaction en cours

secure sell positions as we look out for more opportunties

Transaction en cours

Secure all sell position as buying pressure resumes

Transaction en cours

Move your stop-loss, and secure all sell positions as buying pressure resumes just around the bullish trendline identified during our morning live session today where the tendency of a bullish momentum from this structure can not be ignored. I will be sharing an update on the 15 minutes time frame in a moment

Transaction en cours

Simple set-up on the 15 minute time frame where the bearish trendline will be used to guide our trading activities

Transaction en cours

Buy position triggered at the breakout/retest of the 1.22250 level as projected. Secure position and join our morning live session for details

Good morning

Transaction en cours

During our live session this morning, we identified a bearish setup on the 5 minutes time frame since we are around a strong sell zone at 1.22850 area. I will share this here in a moment.

Transaction en cours

5-minute timeframe

Secure sell position

Note

Transaction en cours

Secure all 3 sell positions

Transaction en cours

Price action takes out the sell positions with a small profit as I personally missed this bullish move. Waiting for normalcy after the Interest rate decision... Congrats to you if you took it! Update coming up soon

Transaction en cours

Trendline becomes our yardstick for trading opportunities
i. breakdown/retest welcomes selling
ii. buying pressure above structure welcomes buying opportunities

Transaction en cours

Bullish momentum continues. Secure all buy positions as we look forward to seeing how price action reacts to the 1.23350 level for either a buying or selling opportunity. Join our morning live session for more details.

Good morning

Transaction en cours

Selling pressure resumes... You might want to watch the replay of my live session this morning for details

Transaction en cours

secure sell position

Transaction en cours

UPDATE

Transaction en cours

Secure all sell position as price action remains below the trendline that was broken yesterday. See you at live session soon

Good morning

Transaction en cours

Just as discussed during our live session this morning; secure all sell positions as the third position is triggered.

Transaction en cours

darcsherry

Trade smart. Trade consciously

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GBPUSD | Perspective for the new week | Follow-up

par darcsherry

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