GBP/USD: Anticipating Decline around 1.26

26 พ.ย. 2023

GBPUSD

Fundamental Analysis:

Analyzing the GBPUSD pair fundamentally, the British economy shows stagnation with a GDP growth rate of 0.00%, but has a lower inflation rate (4.6%) compared to the U.S. (3.2%). The slightly higher U.K. interest rate (5.25% vs. 5.5%) might not be enough to strengthen the pound significantly against the dollar, especially considering the U.S.'s stronger GDP growth (4.9%). The U.K.'s negative consumer confidence (-24) and substantial trade deficit (-1,574 GBP) indicate underlying economic challenges, potentially weakening the GBP against the USD. The U.S.'s relatively better economic performance, despite its own trade deficit, and the higher consumer confidence (61.3), suggest a potential continued strength of the USD against the GBP in the short to medium term. However, it is important to consider that the USD often weakens in the final months of the year, possibly due to geopolitical events, financial factors, and seasonal elements like year-end financial reporting, which could affect this trend.

Technical Analysis:

In GBPUSD 's technical analysis, the price has shown a bullish retracement to around 1.26, a key pivot point, indicating potential resistance and a shift towards bearish movements. Technical indicators suggest an overbought condition, pointing to a possible reversal. Traders should monitor for bearish patterns near 1.26, anticipating a downward trend towards set targets

Targets:1.25 , 1.24 , 1.23500

"Stay disciplined and patient"
"Keep analysis simple and concise"
"Have a risk management strategy"
"Trade with a clear mind"

28 พ.ย. 2023

บันทึกช่วยจำ

if price make a fake breakout, it's time to for entry

11 ธ.ค. 2023

บันทึกช่วยจำ

one of the TP has been reached