Will GBPUSD continue its uptrend after good economic data?
GBP/USD news:
🔆The Pound Sterling edges higher against its major counterparts following the release of the UK's Consumer Price Index (CPI) data for January, which revealed that inflation rose at a faster-than-expected
🔆However, the impact of elevated inflation is unlikely to provide sustained support for the British currency. The Bank of England (BoE) has already indicated in its latest monetary policy statement that inflation may rise temporarily due to increasing energy costs before gradually returning to the 2% target. On Monday, BoE Governor Andrew Bailey stated in an interview with BusinessLine that the anticipated inflation surge is unlikely to be persistent, emphasizing that the economy’s sluggish growth could counter inflationary pressures
🔆Nonetheless, rising inflation could limit the BoE’s ability to implement further monetary easing. Investors will now shift their focus to the UK Retail Sales data for January and the preliminary S&P Global/CIPS Purchasing Managers Index (PMI) figures for February
🔆Meanwhile, renewed concerns over US tariffs could strengthen the US Dollar. On Tuesday, President Donald Trump announced plans to impose a 25% tariff on imports of automobiles, semiconductors, and pharmaceuticals, with the possibility of further increases in the coming year. Such measures could weigh on glob
Personal opinion:
🔆GBP will continue to rise in the near future after being supported by positive economic data, although Trump's upcoming tariff policy may increase the strength of the dollar, but in the long term these tariff policies may weaken the dollar. This may make investors consider carefully, causing the dollar to continue to decline in the near future
Technical analysis:
🔆Based on important resistance - support levels combined with SMA indicator to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉BUY GBP/USD 1.2600 – 1.2580
❌SL: 1.2540 | ✅TP: 1.2630 – 1.2700 – 1.2750
FM wishes you a successful trading day 💰💰💰
🔆The Pound Sterling edges higher against its major counterparts following the release of the UK's Consumer Price Index (CPI) data for January, which revealed that inflation rose at a faster-than-expected
🔆However, the impact of elevated inflation is unlikely to provide sustained support for the British currency. The Bank of England (BoE) has already indicated in its latest monetary policy statement that inflation may rise temporarily due to increasing energy costs before gradually returning to the 2% target. On Monday, BoE Governor Andrew Bailey stated in an interview with BusinessLine that the anticipated inflation surge is unlikely to be persistent, emphasizing that the economy’s sluggish growth could counter inflationary pressures
🔆Nonetheless, rising inflation could limit the BoE’s ability to implement further monetary easing. Investors will now shift their focus to the UK Retail Sales data for January and the preliminary S&P Global/CIPS Purchasing Managers Index (PMI) figures for February
🔆Meanwhile, renewed concerns over US tariffs could strengthen the US Dollar. On Tuesday, President Donald Trump announced plans to impose a 25% tariff on imports of automobiles, semiconductors, and pharmaceuticals, with the possibility of further increases in the coming year. Such measures could weigh on glob
Personal opinion:
🔆GBP will continue to rise in the near future after being supported by positive economic data, although Trump's upcoming tariff policy may increase the strength of the dollar, but in the long term these tariff policies may weaken the dollar. This may make investors consider carefully, causing the dollar to continue to decline in the near future
Technical analysis:
🔆Based on important resistance - support levels combined with SMA indicator to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉BUY GBP/USD 1.2600 – 1.2580
❌SL: 1.2540 | ✅TP: 1.2630 – 1.2700 – 1.2750
FM wishes you a successful trading day 💰💰💰
Trade attivo
Hit + 60 pips from Buy 1.2580
+ 40 pips from Buy 1.2600
Your profit if you follow FM's plan
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.