Positive news Buzz in the GBP/USD

Using the "Market Buzz" research tool under the Market Analysis tab, we have identified a bullish signal in the GBP/USD pair.

Uptrend 2

When looking for opportunities in currency pair trading, I always load up TC Market Buzz inside the market analysis tab in order to help me find interesting setups regarding news sentiment. Today we can see some larger news volume in the GBP/USD



Source: GAIN Capital, TC Market Buzz

Clicking further, TC Market Buzz is showing a 68% positive news sentiment relating to a possible price gain. 



Source: GAIN Capital, TC Market Buzz

When looking at the price chart of the GBP/USD I noticed an interesting breakout. Prices have broken above a bearish trend channel. The 200 and 50-period moving averages have started to turn up. As long as 1.241 holds as support, look towards 1.2665 as a target on the rebound. 



Source: GAIN Capital, TradingView

Happy trading

More from Forex

From time to time, GAIN Capital Australia Pty Ltd (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.

As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.