Technical My Tips

📊 GBPUSD moves sideways after the BOE interest rate decision The British pound (GBP) rose by 0.54% on Friday but finished the week with a 0.42% decline as Bank of England (BOE) officials split on Thursday's interest rate decision 👉 Possible effects for traders The BOE held its key interest rate steady at 4.75% last week, but officials differed on whether additional rate cuts were required to address the economic slowdown. Unexpectedly, three members of the nine-member Monetary Policy Committee (MPC) voted for a 25-basis-point (bps) rate reduction. Market participants now expect approximately 60 bps of rate cuts next year, up from around 45 bps prior to the decision. The disagreement among officials affected the outlook for the British pound—one of this year's best-performing major currencies versus the U.S. dollar (USD)—while offering relief to the struggling British government bond markets. In October, the British economy shrank for the second consecutive month. Meanwhile, ‘the U.S. economy has been remarkable, and I am pleased with its current condition’, noted Federal Reserve (Fed) Chair Jerome Powell. On Wednesday, the U.S. (USD) dollar strengthened after Fed officials indicated that they now expect only two interest rate reductions next year, down from their previous forecast of four. Additionally, Friday's data showed that retail sales in the U.K. grew by less than expected in November, increasing by 0.2%. Thus, the latest economic data may put downward pressure on the British pound. Today, GBPUSD has been moving sideways during Asian and early European trading hours. Market participants will be waiting for the U.S. CB Consumer Confidence report data, coming out at 3:00 p.m. UTC. A higher-than-expected reading may pressure the pair, while lower numbers may support the pair and push it towards the 1.27000 resistance level. ➡️Sign Up Now ➡️ https://octa.click/iRAl5bCodpM Partner Code ➡️ 3788810

The RSI (Relative Strength Index) is a popular technical indicator used by traders to gauge an asset’s price momentum. Displayed below the price chart, RSI works across any timeframe. A reading above 70 suggests the asset might be overpriced, signaling a potential price drop. Meanwhile, a reading below 30 indicates the asset could be oversold, hinting at a possible price increase. Trade Now: https://bit.ly/attexpertoption

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The RSI (Relative Strength Index) is a popular technical indicator used by traders to gauge an asset’s price momentum. Displayed below the price chart, RSI works across any timeframe. A reading above 70 suggests the asset might be overpriced, signaling a potential price drop. Meanwhile, a reading below 30 indicates the asset could be oversold, hinting at a possible price increase. Trade Now: https://bit.ly/attexpertoption

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Stay informed and trade in Octa 🔗 https://tlt.ink/octa 🌎 Political news The Fed's 25 bps interest rate cut and a lower projection for further cuts in 2025 have pushed investors away from riskier assets like cryptocurrencies. A sell-off in the stock and crypto markets followed, with Bitcoin losing 6.3% of its value this week. Fed Chair Jerome Powell addressed concerns about inflation, which remains above the 2% target and is unlikely to normalise until 2027. During his 18 December press conference, Powell reiterated that Congress decides the legal status of Bitcoin. 📈 Technical analysis On the daily chart, Bitcoin attempts to break its ascending channel downwards on high volumes. A sustained break below the 0.786 Fibonacci level at $96,455 could signal a further decline toward the 0.618 Fibonacci level at $87,000, with a possible intermediate rebound from the SMA50. The MACD oscillator remains in the red zone, reinforcing the bearish sentiment. #crypto #cryptotrading #cryptonews #cryptoupdate #forextrading

USDCAD, 30-minute timeframe chart USDCAD formed a bearish Three Black Crows pattern 👉General outlook USDCAD has been under selling pressure within the last couple of hours. Now, the price displays a bearish Three Black Crows pattern. The price is ready to drop. 👉Possible scenario The best way to use this opportunity is to place a Sell order at 1.43770. Set your stop loss at 1.43985 above the previous high ($2.15 loss for 0.01 lot) and take profit at 1.43493 ($2.77 profit for 0.01 lot). The risk-reward ratio for this order is 1:1.29. The upcoming news will not influence your orders within the mentioned period. Some traders may close their positions on Friday, which can add more pressure to the market. Click the 🔗 ➡️Sign Up Now ➡️ https://tlt.ink/octa

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