Trading news

GBPUSD TO DROP ON WEAKENING MACRO DATA, DESCENDING TRIANGLE SUPPORTS THE MOVE

GBPUSD to Drop on Weakening Macro Data, Descending Triangle Supports the Move

GBPUSD, Daily

Weakening U.K. macro data, dovish guidance from BoE governor Carney, and a series of consecutive lower tops and bottoms on the GBPUSD price is creating a technical bearish descending triangle that supports my view that the pair will trend lower towards the price objections 1.4960 (Target 1) and 1.4890 (Target 2). Given that this week is filled with scheduled market moving events i.e U.S. Fed Speak, Friday NFP, which should create wide price swings, supports my view to look for an opportunity of strength to sell into around the 1.5170 – 1.5225 zone.

Wednesday, 02 Dec, 2015 / 12:06

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://analysis.hotforex.com/blog/2015/12/02/gbpusd-to-drop-on-weakening-macro-data-descending-triangle-supports-the-move/

Trading news

 

Market sentiment changed towards greater risk appetite

While the yields rose, the USD weakened against a basket of currencies Read [...]

Posted on Friday, 24 Sep, 2021 / 12:05 under

What’s The Real Issue With The Debt Ceiling?

Politicians just love a crisis that they can leverage to push their agenda and [...]

Posted on Friday, 24 Sep, 2021 / 11:26 under

Bond markets come alive as tighter policy looms, stock rally eases

  Sovereign bond yields jump on optimism and rising prospect of [...]

Posted on Friday, 24 Sep, 2021 / 10:26 under