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D-GBP

GBPUSD: Analysis Pre BOE Rate decision. Today's focus: GBPUSD Pattern – Consolidation Watch Support – 1.2665, 1.2610 Resistance – 1.2751 Hi, and thanks for checking out today's video update. We are looking at the GBPUSD today as the price continues to consolidate in a rough ending diagonal pattern. We have also chosen the cable as we have the UK rates decision to come out later today. Depending on what we see from the BOE, this could be a catalyst to break the price out of its current deadlock. Yes, we do have a consolidation in an uptrend but its not a traditional continuation pattern so we are waiting to see if, and where price breaks ou before we start thinking about directional calls. Rates are expected to remain on hold, so we will be looking for policy clues in the statement. Will we see a breakout today? We have run over scenarios for price and points we will look at for potential confirmation. UK Interest Rate decision is due today at 11:00 pm. Good trading.
by Eightcap
1
Sell GBPJPY Triangle BreakoutThe GBP/JPY pair presents a potential selling opportunity on the H1 timeframe, fueled by a recent bearish breakout from a triangular consolidation pattern. Key Points: Bullish Triangle Breakout: Though seemingly counterintuitive, the price has broken downward from a bullish triangle formation, characterized by converging resistance and support lines. This often indicates a reversal of the prior upward trend and a shift in momentum towards the downside. Sell Entry: Consider entering a short position around the current price near 187.40, offering an entry point close to the breakout level. Target Levels: Initial bearish targets lie at the support levels of 186.05 and 185.16, marking previous support zones within the triangle. Stop-Loss: To manage risk, place a stop-loss order above the resistance line of the broken triangle at 188.70 Fundamental Updates : Bank of England (BoE) Meeting and Interest Rate Decision (Feb 2): While the BoE is expected to raise rates again, the focus will be on the size (25bps or 50bps) and future policy guidance. Dovish pronouncements could weaken the GBP and benefit selling GBP/JPY. Thank you.
Short
by KABHI_FOREX_TRADING
8
EURGBP: Technicals and ECB Policy ShiftIn today's trading session, our focus is on EURGBP, where we are eyeing a selling opportunity around the 0.85800 zone. Technically, EURGBP is trading in a downtrend and currently navigating a correction phase towards the 0.85800 support and resistance area. Now, delving into the fundamental layer, we are inclined towards a bearish stance on the Euro due to potential rate cuts from the European Central Bank (ECB) in April. The recent policy stance of the ECB indicates a shift towards a more accommodative monetary policy stance. President Lagarde's avoidance of calendar guidance in favor of data dependence further underscores this shift. The ECB's acknowledgment that data have been trending positively, albeit faster than expected, suggests a willingness to act preemptively if economic conditions warrant it. The latest PMI data, while showing signs of improvement in the manufacturing sector, also hint at supply disruptions affecting delivery times, which could temper the overall economic recovery. Additionally, disappointing forward-looking indicators like the fo climate index and subdued inflation expectations from ECB surveys contribute to a cautious outlook on the Euro's prospects. As such, the constraints on the ECB are easing, paving the way for potential monetary policy adjustments in the coming months, including the possibility of rate cuts. This shift in policy stance and the accompanying real rate differentials could weigh on the Euro against other currencies, including the British Pound. In light of these factors, maintaining a bearish outlook on the Euro seems prudent, with EURGBP positioned for potential downside movement in the near term
Short
by JoeChampion
1
GBPJPY Medium-term sellThe GBPJPY pair delivered the best sell signal possible on our last bearish call (November 30 2023, see chart below) as it got rejected exactly on the Higher Highs trend-line back to the Support of the Ascending Triangle: Today's analysis is on the 1D time-frame where you can see that the price then rebounded exactly on the 1D MA200 (orange trend-line) and hit again the Higher Highs trend-line. That makes it again a technical sell opportunity and we can see the price already starting to reverse. So far it continues to be a symmetrical price action with 2021 and early 2022 and along these lines, we can argue that this is a similar Higher Highs rejection with early January 2022. As a result, we are taking that sell opportunity to target the 1D MA200 at 183.000 as the pair did on January 24 2022. When the 1D RSI hits the 30.00 oversold barrier again, we will take a long-term buy position expecting a break above the Higher Highs trend-line this time. We will update on the Target when that time comes. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
Sell GBPAUD Triangle BreakoutThe GBP/AUD pair on the H1 chart exhibits a bearish signal suggesting a potential decline in the coming hours. A recent downward breakout from a triangular consolidation pattern could offer a shorting opportunity. Key Points: Triangle Breakout: The price has been confined within a triangle formation, characterized by converging support and resistance lines. This often indicates indecision before a decisive move. However, the recent break below the lower support line at 1.9265 suggests a shift in momentum towards the downside. Sell Entry: Consider entering a short position around the current price near 1.9265, offering an entry point close to the breakout level. Target Levels: Initial bearish targets lie at the support levels of 1.9114 and 1.9027, marking previous support zones within the triangle. Stop-Loss: To manage risk, place a stop-loss order above the resistance 1.9400 Fundamental Updates : Bank of England (BoE) Meeting and Interest Rate Decision (Feb 2): While the BoE is expected to raise rates again, the focus will be on the size (25bps or 50bps) and future policy guidance. Dovish pronouncements could weaken the GBP and support AUD selling against it. Risk-Off Sentiment: A general deterioration in global market sentiment could drive investors towards the safe-haven AUD and put downward pressure on GBP/AUD. Thank you.
Short
by KABHI_FOREX_TRADING
3
GBPCAD Quadruple top on 1D?The GBPCAD pair delivered a solid buy trade last time we analyzed it (October 05 2023, see chart below), easily hitting the 1.71110 Target, on a structure rise: The price is now signaling a bearish call as it has been rejected on the Lower Highs trend-line that started on the July 17 2023 High. This is technically a Quadruple Top if it stays that way and naturally there is strong sell potential behind it. The natural support levels are the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line), the latter of which is trading exactly on the Higher Lows trend-line, which is our first Target (1.6950). If the price closes below the 1D MA200 and Higher Lows trend-line, we will re-short and target the 0.618 Fibonacci retracement level, which is just below Support 1. What makes selling a stronger probability right now is the formation of a 1D MACD Bearish Cross, which has been a sell signal with 100% accuracy for the whole 2023. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
Deciphering US Core PCE: A Blueprint for GBPUSD TradersIn today's trading session, GBPUSD enthusiasts are poised for a buying opportunity around the 1.26800 zone, leveraging the pair's uptrend amidst a correction phase. However, amidst the technical considerations, a deeper dive into the fundamental landscape reveals the looming influence of the US Core Personal Consumption Expenditure (PCE) Price Index m/m. The significance of this economic indicator lies in its role as a measure of inflation and its consequential impact on USD strength and weakness. Delving into the historical trends of US Core PCE data unveils a nuanced narrative. Examining previous releases, such as December's reading of 0.1% against a forecast of 0.2%, juxtaposed with November's 0.2%, and October's 0.3%, provides insight into the evolving inflationary landscape. This detailed analysis illuminates a trend of fluctuating PCE readings, painting a picture of economic uncertainty and potential volatility in the USD. As traders brace for tomorrow's announcement, expectations lean towards a potential soft print, further solidifying the case for potential USD weakness. Against this backdrop, GBPUSD traders find themselves at a crucial juncture, weighing the technical support and resistance levels against the backdrop of evolving fundamental dynamics. The confluence of technical and fundamental factors underscores the importance of a holistic trading approach, blending technical precision with a nuanced understanding of market fundamentals. As the trading session unfolds, traders are advised to remain vigilant, navigating the intricacies of GBPUSD's trajectory amidst the unfolding economic landscape. Trade safe, Joe.
Long
by JoeChampion
6
Eurchf and Gchf bias to short Hello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Looking for shorts for both of these pairs, I have mentioned it towards the end of my last week's live stream. You can check it out. Do check out my stream video for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
Short
by Shadowing_The_Big_Boys
1
HelenP. I British Pound will continue grow to resistance levelHi folks today I'm prepared for you British Pound analytics. A few moments ago price rebounded from the support level, which coincided with the support zone and rose to 1.2735 points, but then it turned around and made impulse down to 1.2500 points, thereby breaking the 1.2600 level. After this, the price in short time rose back to this level and also broke it, after which GBP made an impulse up to the resistance level, which coincided with the resistance zone. Then price bounced from this level and started to trades inside consolidation, where the price declined to the support level, after which turned around and made impulse up to the resistance zone, and even higher. But soon GBP fell back, making a fake breakout, and later rose again to a resistance level. After this movement, GBP rebounded down from the 1.2775 level to the support level and soon bounced back, but a not long time ago British Pound rebounded from the resistance level again and it trades below. For my mind, GBP will make a small movement down one more time and then continue to grow to the 1.2775 resistance level, which coincides with the top part of the consolidation. For this case, I set my target at this level. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
GBPUSD Tight consolidation. Prepare to trade the break-out.The GBPUSD pair has been trading sideways within the very tight range formed by the 1D MA50 (blue trend-line) and the top (Lower Highs trend-line) of an emerging Channel Down pattern. In fact while the 1D MA50 has been holding since January 17, the Lower Highs have since December 28, already with 3 clear rejections on them. This technical squeeze will naturally break in the coming days and technically the way it first breaks to, that will be the dominant trend for the next 4-6 weeks. If it closes a 1D candle below the 1D MA50, before the 1D MACD forms a Bullish Cross, we will sell and target the bottom of the 1 year Channel Up at 1.2250. If it closes above Resistance 1 (1.2825) while forming a 1D MACD Bullish Cross, we will buy and target the next Resistance at 1.3150. The reason we use the 1D MACD as a parameter is that every full Bullish Cross it made below the 0.00 barrier, was the start of very aggressive rallies. The times that failed to complete it (e.g. August 22 2023), it extended an already strong downtrend. Notice also the relevance of the 1D Golden and Death Crosses. The last 1D Death Cross (October 17 2023) formed a market bottom and started a rise, while the 1D Golden Cross before it (January 11 2023), led to a market top and declined, both of which are the opposite of their technical expectations. Currently we are after a 1D Golden Cross (January 05 2024), so if the previous inverse correlation applies again, it should favor a bearish trend. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
GBPJPY: Systemic Top being formed. Sell.GBPJPY is on a bullish 1D technical outlook (RSI = 65.529, MACD = 1.210, ADX = 62.251), which is a natural consequence of the strong 3 week rally since the January 2nd bottom. However this rally appears to have come to an end as not only has the price hit and got rejected twice on the R1 level (188.660) but the 1D RSI has also reach the top of its six month Channel Down and is reversing. The price action's HH trendline is a little higher, so we can allow some space for a final blow off top before a selloff. The Sine Waves so a clear and very consistent Peak-Bottom pattern and right now the price is exactly on the Peak. Consequently, we consider the current price level as a low risk sell opportunity. We are targeting the 1D MA200 (TP = 182.350). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
GBPUSD: On the bearish threshold. Be ready to short it.GBPUSD is being rejected repeatedly at the top of the multimonth Channel Down but the 1D MA50 is still supporting it. However the squeeze has gotten to narrow and being on a neutral 1D technical setting (RSI = 50.057, MACD = 0.002, ADX = 25.323), we expect a bearish breakout soon below it. The similarities of the 1D RSI with last August, show that there is significant downside potential. We will short if we do get a 1D candle close under the 1D MA50 and target the S2 level (TP = 1.2230). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope