GBPUSD MARKET ANALYSIS
Hello traders, I hope you're all doing well and you're ready for this new trading week and also last trading month of the year 2023. This week is flooded with fundamental news releases from CPI to FOMC and PPI news and they all have high impact on the markets. Into the week I'm looking at GBPUSD where market opened this week at 1.25460 and then rallied to 1.25900 forming a lower high during Asian session into mid-London session. Price formed a lower high and failed to break it and instead reversed and dropped to 1.25465 during NY session forming a lower low confirming a potential continuation of the bearish sentiment. I anticipated a continuation of the drop lower with more confirmations when price breaks the H1 lower low at 1.25000 and fills the range back to H1 & H4 demand zone at 1.24600 & 1.24000. Price dropped 50 pips from the H1 lower high back to H1 low at 1.25400 and failed to break it during London session into NY session hence retracing back to the previ...