GBP/USD Forecast: Pound Sterling remains fragile
GBP/USD struggles to stage a rebound and trades in a narrow channel at around 1.3350 after closing the previous four trading days in negative territory. As investors await the key September Consumer Price Index (CPI) data from the United States, which will be published on Friday, the technicaloutlooksuggests that the bearish bias remains intact.
On Wednesday, Pound Sterling came under bearish pressure after the data from the UK showed that the annual inflation, as measured by the change in the CPI, held steady at 3.8% in September. This print came in below the market expectation of 4%. Read more…
GBP/USD Elliott Wave: Another leg down
Back onSeptember 19, two-days after a medium term top, we forecasted a decline in GBP/USD reaching to 1.31 and possibly 1.28. Cable has progressed lower and the Elliott wave pattern appears to be incomplete to the downside.
GBP/USD carved a wave ((x)) high on September 17 at 1.3726. The decline since September 17 fits best as wave ((y)).We know from ourElliott wave studiesthat this y-wave is likely to take shape as an (a)-(b)-(c) zigzag pattern. Read more…
GBP/USD live forex trade [Video]
In this forextrading video we cover the entry,exit reasons and management for our forex trade today on theGBP/USD andhow you can trade the forex structure on daily, four,hourly, and15 minute charts and how you can target the next support/resistance. In the last few videos we covered the steps to find and trade structure. In this video you will learn how we traded the GBP/USD structure today using thetrading chartsand price action.
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