The week that we left behind has been a very significant for USD pairs. We saw a good strength even that FED releases haven't change also the NFP release were not so strong to make much volatility in the market.
Also it is crucial to mention that there were some market manipulations in the previous week.
Our technical analysis now show as that after the brake of the 1.30500 supp. zone of the GBPUSD now we are in a consolidation cycle of the market.
This tells us that we are awaiting for a very potential pullback in this pair which could bring GBPUSD up till 1.3100 which is the 0.618 retracment zone, after hitting this zone we can check up for other positions.
Also this week we have important news for GBP which are : on Monday (BRC Retail Sales Monitor (YoY) (Jul)), on Tuesday ( Halifax House Price Index (MoM)) ,on 9Wednesday (RICS House Price Balance (Jul)) , on Thursday (NIESR GDP Estimate), on Friday ( Business Investment (QoQ) (Q2), (GDP (YoY) (Q2)) ,(Manufacturing Production (MoM) (Jun)) , ( Imports and Exports),(Trade Balance Non-EU (Jun)).
These are my expectations on GBP, now its time to wait for the markets to do their part.
Also it is crucial to mention that there were some market manipulations in the previous week.
Our technical analysis now show as that after the brake of the 1.30500 supp. zone of the GBPUSD now we are in a consolidation cycle of the market.
This tells us that we are awaiting for a very potential pullback in this pair which could bring GBPUSD up till 1.3100 which is the 0.618 retracment zone, after hitting this zone we can check up for other positions.
Also this week we have important news for GBP which are : on Monday (BRC Retail Sales Monitor (YoY) (Jul)), on Tuesday ( Halifax House Price Index (MoM)) ,on 9Wednesday (RICS House Price Balance (Jul)) , on Thursday (NIESR GDP Estimate), on Friday ( Business Investment (QoQ) (Q2), (GDP (YoY) (Q2)) ,(Manufacturing Production (MoM) (Jun)) , ( Imports and Exports),(Trade Balance Non-EU (Jun)).
These are my expectations on GBP, now its time to wait for the markets to do their part.