GBPUSD: Riding the Wave or Facing a Pullback? Key Levels to Watch!
Hello TradingView Community!
The GBPUSD pair is currently under the spotlight, experiencing significant movements driven by a mix of market sentiment and economic indicators.
🌍 Fundamental Snapshot: GBP's Lift vs. Underlying Pressures
The British Pound has seen a notable surge, climbing near 1.3765 against the US Dollar. This uplift is primarily fueled by market hopes for an imminent announcement of Fed Chair Powell's successor by President Trump, hinting at potential future dovish shifts in Fed policy. Such speculation could dampen USD's strength, benefiting GBPUSD.
However, the outlook isn't entirely clear-cut for the Pound. Fed Chair Powell has cautioned that tariff-induced inflation might prove persistent, adding a layer of complexity to the broader USD sentiment. Domestically, UK employers are reportedly planning workforce reductions to offset rising social security contributions, which could weigh on the GBP.
In essence, GBPUSD is benefiting from potential USD weakness linked to Fed policy expectations, but traders should remain vigilant about internal economic pressures within the UK.
📊 GBPUSD Technical Analysis (H4/M30 Chart):
Our technical analysis of the GBPUSD chart (image_b6d4de.png) reveals a clear uptrend, marked by consistent higher highs and higher lows. The EMAs are also in a bullish alignment, reinforcing this upward momentum.
Key Resistance (Potential Sell Zone): We identify significant resistance at 1.38366. This level could attract selling pressure, suggesting a potential price reversal or consolidation after hitting this mark.
Key Support Levels (Potential Buy Zones):
Initial support lies at 1.36648.
A stronger support area is at 1.36158. These levels could act as bounce points after any corrective moves.
🎯 GBPUSD Trading Plan:
BUY Zone 1 (Near Current Support):
Entry: Consider entries around 1.36648.
SL: 1.36500 (just below support).
TP: Target incremental gains towards 1.36800, 1.37000, 1.37200, 1.37400, 1.37600, 1.37800, 1.38000, and potentially 1.38300 (just shy of major resistance).
BUY Zone 2 (Stronger Support):
Entry: Look for entries around 1.36158.
SL: 1.36000 (below strong support).
TP: Target incremental gains towards 1.36300, 1.36500, 1.36700, 1.37000, 1.37300, 1.37600, 1.38000, and 1.38300.
SELL Zone (At Resistance):
Entry: Consider short entries around 1.38366.
SL: 1.38500 (just above resistance).
TP: Target incremental declines towards 1.38200, 1.38000, 1.37800, 1.37500, 1.37200, 1.37000, 1.36800, and 1.36648 (targeting support).
⚠️ Key Factors to Monitor:
Fed Leadership News: Any official announcement regarding the Fed Chair succession will trigger significant USD volatility.
UK Economic Data: Upcoming reports on employment, inflation, and GDP will directly impact the Pound.
BoE Statements: Monetary policy stances from the Bank of England.
US Inflation/Employment Data: Continues to influence overall USD strength.
Trade wisely and always prioritize robust risk management! Wishing everyone a successful trading day!
Hello TradingView Community!
The GBPUSD pair is currently under the spotlight, experiencing significant movements driven by a mix of market sentiment and economic indicators.
🌍 Fundamental Snapshot: GBP's Lift vs. Underlying Pressures
The British Pound has seen a notable surge, climbing near 1.3765 against the US Dollar. This uplift is primarily fueled by market hopes for an imminent announcement of Fed Chair Powell's successor by President Trump, hinting at potential future dovish shifts in Fed policy. Such speculation could dampen USD's strength, benefiting GBPUSD.
However, the outlook isn't entirely clear-cut for the Pound. Fed Chair Powell has cautioned that tariff-induced inflation might prove persistent, adding a layer of complexity to the broader USD sentiment. Domestically, UK employers are reportedly planning workforce reductions to offset rising social security contributions, which could weigh on the GBP.
In essence, GBPUSD is benefiting from potential USD weakness linked to Fed policy expectations, but traders should remain vigilant about internal economic pressures within the UK.
📊 GBPUSD Technical Analysis (H4/M30 Chart):
Our technical analysis of the GBPUSD chart (image_b6d4de.png) reveals a clear uptrend, marked by consistent higher highs and higher lows. The EMAs are also in a bullish alignment, reinforcing this upward momentum.
Key Resistance (Potential Sell Zone): We identify significant resistance at 1.38366. This level could attract selling pressure, suggesting a potential price reversal or consolidation after hitting this mark.
Key Support Levels (Potential Buy Zones):
Initial support lies at 1.36648.
A stronger support area is at 1.36158. These levels could act as bounce points after any corrective moves.
🎯 GBPUSD Trading Plan:
BUY Zone 1 (Near Current Support):
Entry: Consider entries around 1.36648.
SL: 1.36500 (just below support).
TP: Target incremental gains towards 1.36800, 1.37000, 1.37200, 1.37400, 1.37600, 1.37800, 1.38000, and potentially 1.38300 (just shy of major resistance).
BUY Zone 2 (Stronger Support):
Entry: Look for entries around 1.36158.
SL: 1.36000 (below strong support).
TP: Target incremental gains towards 1.36300, 1.36500, 1.36700, 1.37000, 1.37300, 1.37600, 1.38000, and 1.38300.
SELL Zone (At Resistance):
Entry: Consider short entries around 1.38366.
SL: 1.38500 (just above resistance).
TP: Target incremental declines towards 1.38200, 1.38000, 1.37800, 1.37500, 1.37200, 1.37000, 1.36800, and 1.36648 (targeting support).
⚠️ Key Factors to Monitor:
Fed Leadership News: Any official announcement regarding the Fed Chair succession will trigger significant USD volatility.
UK Economic Data: Upcoming reports on employment, inflation, and GDP will directly impact the Pound.
BoE Statements: Monetary policy stances from the Bank of England.
US Inflation/Employment Data: Continues to influence overall USD strength.
Trade wisely and always prioritize robust risk management! Wishing everyone a successful trading day!
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⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
byvn.net/t06K
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
⚜️ Trade with Money Market Flow, logic, Price action 📉📈
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
byvn.net/t06K
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 8 to 15 Signals VIP
Get quality daily trading signals and plans here
JOIN NOW
byvn.net/t06K
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.