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  • Apple, Facebook, Tesla advanced in afterhours trade before their earnings release on Wednesday. Here are the EPS forecasts: - Apple: EPS $1.43 (+13.6% YoY) - Facebook: EPS $3.54 (+38.2% YoY) - Tesla: EPS $1.01 (+505.7% YoY)
  • Heads Up:🇨🇳 Industrial Profits (YTD) YoY (DEC) due at 01:30 GMT (15min) Previous: 2.4% https://www.dailyfx.com/economic-calendar#2021-01-27
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  • Overlooked this past session given the extreme volatility in heavily shorted US stocks: the PBOC warned of an asset bubble as it drained liquidity; the IMF said Biden's $1.9 tln stimulus could add 5ppt GDP to the US over 3 years and ECB made a thinly veiled threat over $EURUSD
  • 🇦🇺 Inflation Rate QoQ (Q4) Actual: 0.9 Expected: 0.7% Previous: 1.6% https://www.dailyfx.com/economic-calendar#2021-01-27
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GBP/USD Inside Day Unfolds after GDP

GBP/USD Inside Day Unfolds after GDP

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD Inside Day Unfolds after GDP

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-GBPUSD has traded into the November 2009 high. The next possible resistance is 1.6985 then the 2009 high at 1.7042. Is GBP leading or lagging (USD is not at lows against other major currencies).

-Upside momentum is (still) pathetic (RSI hasn’t been above 70 since October so this doesn’t even feel like a bull) but respect upside as long as the rate is above 1.6762.

LEVELS: 1.6785 1.6800 1.6841 | 1.6900 1.6986 1.7042

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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