Buy GBPUSD Channel Pattern

GBP/USD - H1 Chart

✔️BUY GBP/USD @ 1.2670
💵Tp - 1.2800
🔠Sl - 1.2600

USD Weakness: The US dollar has been in a freefall heading into 2024, benefiting the Pound Sterling. This is due to a combination of factors like dovish Federal Reserve signals and concerns about a potential US recession.

Focus on US Jobless Claims: Yesterday, the US will release its jobless claims data. A lower-than-expected figure could further weaken the Dollar and boost the Pound.

BoE Rate Cut Expectations: The Bank of England (BoE) is expected to cut interest rates again in the first quarter of 2024, which could weigh on the Pound. However, the market may have already priced in this possibility, limiting the downside potential.

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