GBPUSD → What could free the price from the sideways range?

1 lut 2024

GBPUSD is in a flat range condition. The whole market has been standing still lately, which complicates trading due to the lack of safe zones to open trades.



Yesterday was an interesting trading day in terms of outlook. The news from FED & FOMC defined a rough medium term outlook for the dollar, so we can use this information. There is just as much important news today.
Technically, the odds are higher for the currency pair to change its trend from a sideways market to a downtrend. This scenario will be able to realize a break of the support at 1.2615, but, within the range, the price may stay for a long time, until a stronger factor appears, which will free the price.

Resistance levels: 1.2784
Support levels: 1.2615

Today's news could also raise the volatility in the market. If the Dollar ( DXY ) continues to get support, but the pound will break the area of 1.2615 and the price may head towards our targets.

Regards R. Linda!

1 lut 2024

Uwaga

Also not insignificant news ahead of spotty NonFarm Payrolls. It is worth paying attention to the indicators of the following news:

13:30 GMT - Initial Jobless Claims
13:30 GMT - Nonfarm Productivity (QoQ) (Q4)
14:45 GMT - S&P Global US Manufacturing PMI (Jan)
15:00 GMT - ISM Manufacturing Employment (Jan)
15:00 GMT - ISM Manufacturing PMI (Jan)
15:00 GMT - ISM Manufacturing Prices (Jan)
21:30 GMT - Fed's Balance Sheet

5 lut 2024

Transakcja zamknięta: osiągnięto wyznaczony cel

Target 1 reached