On Friday 10th February 2023, the Office for National Statistics published the figures for the Gross Domestic Product (GDP) as 0.1% which turned out greater than the initial forecast of -0.2%. As a result of the positive outlook of this report, we need to examine the short-term impact on GBP pairs from a technical point of view.
GBP/USD: pound still supported by Cloud
2019-11-11 • Updated
Technical levels: support – 1.3930; resistance – 1.4010.
- Buy — 1.3960; SL — 1.3930; TP1 — 1.4010; TP2 — 1.4070.
- Sell — 1.3920; SL — 1.3940; TP1 — 1.3850; TP2 — 1.3760.
Reason: expanding bullish Ichimoku Cloud, but falling Senkou Span B(!); a golden cross of Tenkan-sen and Kijun-sen; the market supported by Cloud, but the Bulls can’t continue an existing uptrend.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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