📊 Technical Analysis
● GBPUSD has broken out of a falling wedge within a descending channel, reclaiming the lower boundary of the broader structure.
● Price is consolidating just above 1.33160 support and appears ready to retest the 1.34650 resistance, aided by a series of higher lows and a bullish break of short-term trendlines.
💡 Fundamental Analysis
● Weakening USD sentiment continues after Friday’s softer core PCE and downward revision of Michigan inflation expectations.
● UK economic sentiment improved after recent wage growth and mortgage approval data exceeded forecasts, bolstering GBP.
✨ Summary
Breakout from wedge confirms bullish bias. Support at 1.33160; target 1.34650 short-term. Watch for rally continuation while holding above 1.33625.
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● GBPUSD has broken out of a falling wedge within a descending channel, reclaiming the lower boundary of the broader structure.
● Price is consolidating just above 1.33160 support and appears ready to retest the 1.34650 resistance, aided by a series of higher lows and a bullish break of short-term trendlines.
💡 Fundamental Analysis
● Weakening USD sentiment continues after Friday’s softer core PCE and downward revision of Michigan inflation expectations.
● UK economic sentiment improved after recent wage growth and mortgage approval data exceeded forecasts, bolstering GBP.
✨ Summary
Breakout from wedge confirms bullish bias. Support at 1.33160; target 1.34650 short-term. Watch for rally continuation while holding above 1.33625.
-------------------
Share your opinion in the comments and support the idea with a like. Thanks for your support!
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🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
@DeGRAMCrypto
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
90% accuracy in telegram
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
@DeGRAMCrypto
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
Crypto signals in telegram
@DeGRAMCrypto
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.