GBP/USD – Week 19 – Complex correction.

The GBP/USD price raised during the early North American session as disappointing NFP data reaffirmed market expectations that the Fed will keep interest rates at a low level for a longer period of time and triggered some depreciation around the US dollar.
As we anticipated in our last week’s outlook, GBPUSD continued to increase towards the resistance level.
For this week, we expect the price to give us a confirmation for a sharp pullback and head towards the lower channel line. Keep in mind that the price could still rise, breaking the upper channel line.
Keep an eye on Wednesday’s Consumer Price Index data for the US Dollar as well as the British GDP number release. This could massively impact the pair.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.

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