FX.co ★ Konnect2fx | GBP/USD

Based on the analysis I laid out yesterday, I correctly predicted that the GBPUSD pair would break through the 1.3410 level, a movement I observed with satisfaction. I now note that, at the time of writing, the pair has retraced and is exhibiting a flat pattern on the H1 chart, currently hovering around 1.33796. I am closely watching the InstaForex indicator available on this forum, and I interpret its first section as showing a precise equilibrium between the buying and selling forces. I see that the bulls are holding a marginal advantage of 50.47%, a reading I consider essentially neutral and indicative of market indecision. Furthermore, I observe in the indicator's second part a signal for a short-term downward trend, which I find creates a compelling contrast with the overall flat price action and suggests underlying fragility

I am turning my full attention to technical analysis today, as I see no significant scheduled news from either the UK or the US that could serve as a fundamental catalyst. I expect fundamental analysis to remain on the sidelines, allowing pure price action and technical indicators to guide the day's flow. I must also factor in that today is the final trading session of the week, a reality that profoundly shapes my strategy. I am committing strictly to intraday positions, as I refuse to carry any risk over the weekend given the potential for unforeseen volatility. I remain acutely aware that anything can happen during the break, especially with the unpredictable nature of global politics, which I often associate with figures like the impulsive former President Trump. Therefore, I am managing my exposure with extra caution. Ultimately, I do not anticipate any significant, trend-defining movements from the pair for this Friday session. I believe the most probable scenario is a continuation of sideways movement, characterized by minor fluctuations contained within a relatively tight range. I find this to be a rare and specific trading circumstance for a Friday, typically known for its volatility, which leads me to a very definitive course of action. I will be sitting firmly on the fence post, prioritizing observation over execution, as I wait for a clearer signal to emerge, perhaps in the new week. I wish everyone good hunting and disciplined trading as we navigate this subdued yet tricky session.