Trade Plan for the GBP/USD 🇬🇧 🇺🇸 (WN37)

Detail on the orders placed by Jeepson Trading at eToro and 5ers

FUNDAMENTAL AND SENTIMENT ANALYSIS

The most recent significant event was today's inflation report which came in at 9.9 percent which was below the expected 10.2 percent and the previous 10.1 perecent. This is the first inflation fall in eleven months and is an effect of the slowing inflation rate of fuel. PM Truss has announced new measures that will help the cost of living crisis by introducing a new cap on the cost of gas which will override the existing cap set by the regulator OFGEM. Further information and scrutiny by parliament has been delayed due to the death of the UK Monarch Queen Elizabeth II.

The next BoE meeting is next week on Thursday September 15th and an initial consensus is yet to be published that would follow its 50 bps hike in August.

The focus this week moves towards the retail sales on Friday which are forecasted to show a contraction of 0.5 percent.

ORDERS

The momentum on the $GBPUSD over the micro-term is mixed due to the optimism of Ukrainian forces making significant advances to recapture their territory that was being controlled by Russia and higher than expected inflation for the US. The short-term downtrend is possibly looking to create a retracement but lower levels are likely.

An order to SELL the $GBPUSD has been placed if the Micro-Term price moves to test the 200 interval moving average. Stop Loss 1.206, First Sell 1.186, Second Sell 1.196

-END DISCLAIMER-

The content provided is intended for informational purposes only. Investments on the forex markets and trading decisions are made at your own risk.