Swing trade on GBPUSD

17 בנוב׳ 2024

I expect GBP/USD to drop significantly in the near term, which is why I’m planning to enter a swing short position. The primary reasons include ongoing economic weakness in the UK, as recent data has shown declining consumer confidence and weaker-than-expected GDP growth. Additionally, the Bank of England is likely to maintain a dovish stance amid rising recession risks, reducing demand for the pound.