FX.co ★ GBP/USD

I am currently analyzing the EURUSD currency pair through the lens of the Fibonacci expansion system, and I have identified what I believe is a favorable buying situation emerging at this hour. On the H1 chart today, I observed a fairly visible bearish pattern, yet within this structure, I can easily see the price beginning to rise. I also noted at least the first decline in the dollar by the market close, which reinforces my cautious optimism. I listened carefully to Trump's morning speech to Congress, but I found it of little use to anyone trying to forecast currency movements. I am frankly tired of hearing about winning; I find these words increasingly dubious, and I question how and when such victories were achieved. I heard him promise to strengthen the dollar, but I cannot identify the economic grounds for this commitment. I ask myself: on what basis can the dollar strengthen when GDP figures remain low? Yes, I acknowledge there is a balance below on the hourly chart, but I do not particularly expect the price to approach those levels around 1.1795. I have set my initial target near the resistance at 1.1816, and I believe breaking this level will open the way to the north. Within this framework, I am also watching a small ascending channel, and I see the upper boundary at the resistance of 1.1861 as my main target for today's trading session

I am increasingly convinced that a significant price increase is expected, and I can envision the pair moving all the way to the 23rd figure in what might feel like a single breath. I sense that the bulls have not exhausted their strength, and I see this clearly in the current market dynamics! I base my analysis on the Fibonacci expansion tools I have applied, and I interpret the patterns as signaling continued upward momentum. I consider the broader context, including political rhetoric and economic fundamentals, but I ultimately trust the technical signals I am observing. I recognize that markets often move on sentiment as much as data, and I perceive a shift in sentiment that favors the euro. I watch the price action carefully, and I note how it respects the Fibonacci levels I have identified. I prepare my trades accordingly, knowing that I must remain flexible if conditions change. I remind myself that technical analysis is probabilistic, not deterministic, but I feel confident in this setup. I anticipate that the ascending channel will guide price movement today, and I will adjust my targets if the breakout occurs sooner than expected. I believe that disciplined adherence to my Fibonacci system will serve me well in this environment, and I look forward to seeing how the session unfolds.