EURGBP: GBP's news was good!Hello Traders,
This is the long-term bearish channel of the pair:
Reaction to the gap and middle of long-term channel is clear in the above chart.
Let's search for TP!
This is a Strong Resistance
I think it might be a good target
Let's take a look to the news!
Most important one which is GDP was a surprise for Pound, bearish for the pair.
Monthly industrial production was supposed to rise from -0.9% to 0.3% but it stopped at 0.2%. It has been considered to be bad for GBP! I think it's almost nothing compared to GDP news. All other important factors were positive too, Only trade balance which I think again less important than others.
Technically and Fundamentally I'm short!!
I'll enter after Order flow or LTF structure confirmation.
1st TP: (For short term-traders with lower SL)
Daily Pivot
2nd TP: Support line and middle of short-term channel
3rd TP: Bottom of both channel
GBP (British Pound)
GBPCHF Technical Analysis and Trade IdeaAnalyzing the GBPCHF, we can clearly see that it has been in a strong bullish trend recently. The price is currently overextended and approaching a key resistance level. As we approach the end of the week, we often see aggressive stop runs, especially on Thursday and Friday. I will be looking for a potential entry if this currency pair retraces into my optimal entry zone.
In the video, I explain my perspective on price action, market structure, and the trend. Please note, this content is for educational purposes only and should not be considered financial advice. Trading involves significant risk, and it's crucial to use responsible risk management strategies.
GBPUSD Outlook: Upside Potential and Critical Support LevelsGBPUSD – technical overview
Signs have emerged of the market wanting to put in a longer-term base after collapsing to a record low in September 2022. The door is now open for the next major upside extension towards the 2023 high at 1.3143. Any setbacks should be well supported ahead of 1.2000.
R2 1.2894 – 8 March/2024 high – Strong
R1 1.2861 – 12 June high – Medium
S1 1.2740 – 4 July low – Medium
S2 1.2668 – 3 July low – Medium
GBPUSD – fundamental overview
The Pound slumped on Tuesday after retailers reported slower sales. Meanwhile, the Labour government's immediate push for an increase in the minimum wage was also seen steepening the Gilt curve. Absence of first tier data on Wednesday’s calendar will leave the focus on another round of Fed Chair testimony and some Fed speak.
Exclusive FX research from LMAX Group Market Strategist, Joel Kruger
GBP/CHF +200 Pips 0 Drawdown , New Entry Valid To Get 100 Pips !This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
Gbp/Usd (Wedge) Intraday Analysis The GBP/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Wedge pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around the current price of 1.2806, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 1.2763
2nd Support – 1.2735
Stop-Loss: To manage risk, place a stop-loss order above 1.2850. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
Potential price rise?EUR/GBP has reacted off the pivot which has been identified as a pullback support and could rise to the 1st resistance.
Pivot: 0.84350
1st Support: 0.84130
1st Resistance: 0.84752
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Is It End Road for the BEARS...?Hey Guys!
On the larger timeframe of the Monthly, Weekly and Daily, we see this market is bearish.
Over the past few days leading into weeks, we have seen the market gravitate to the north to reach higher prices. We are tempted to believe that all of that bullishness was to drive the market into our expected bullish reversal zone.
Market price is currently inside our Daily zone. We are looking to see reversals.
Where that happens, we will look to trade bearish.
In the unlikely event that the market breaks our zone and clears our protected high, we will deem come to the conclusion that the bearish of the daily chart is over, and we will look to trade Bullish on the Daily.
Until then, we will hold on to our bearish perspective.
GBPUSD H8 - Sell SignalGBPUSD H8
Converse to AUDUSD analysis above. We also have the likes of GBPUSD here in front of us, where we have seen a rejection from 1.28500 price, a half number acting as resistance. If we look to the left on this chart, on June 12, you'll notice and aggressive selloff. This formed an attractive area of supply.
We have a few confluence in and around this 1.28500 price, so it's certainly a zone to keep an eye on for USD strength resumption. A double top on 1.28500 could be a great sell signal.
Could price bounce from here?GBP/CAD is falling towards a support level which is a pullback support that is slightly above the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.7413
Why we like it:
There is a pullback support level that is slightly above the 50% Fibonacci retracement.
Stop loss: 1.7339
Why we like it:
There is a pullback support level which aligns with the 78.6% Fibonacci retracement.
Take profit: 1.7512
Why we like it:
There is an overlap resistance level.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
GBPAUD to remain mixed and volatile?GBPAUD - 24h expiry
The primary trend remains bearish.
Intraday signals are mixed.
A higher correction is expected.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.9070.
We look to Sell at 1.9070 (stop at 1.9102)
Our profit targets will be 1.8925 and 1.8905
Resistance: 1.9070 / 1.9100 / 1.9150
Support: 1.9010 / 1.8960 / 1.8910
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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GBP-CHF Bullish Bias! Buy!
Hello,Traders!
GBP-CHF made a retest
Of the support cluster
Of the horizontal and
Rising support at around 1.1415
And went up so we are
Bullish biased and we will
Be expecting a further
Move up
Buy!
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Check out other forecasts below too!
Are We Bearish on the 4 Hour Chart...?On the lower timeframe, we have seen a great deal of bullishness. But all of this bullishness on the lower timeframe of the 1 hour has been seen as a move to drive the market into our earlier marked out 4 hour reversal zone.
Market is currently in our reversal zone, and we are seeing some signs of reversals. We will wait for a confirmation of the reversal to enable us jump in on it.
It is expected that our zone will hold, the market will reverse, and we will see lower prices printed.
Our target on the downside is the 4 hour liquidity target at 1.06657
Bearish reversal?GBP/CAD is rising towards the resistance level which is an overlap resistance that is slightly below the 127.2% Fibonacci extension and could reverse from this level to our take profit.
Entry: 1.75115
Why we like it:
There is an overlap resistance level which is slightly below the 127.2% Fibonacci retracement.
Stop loss: 1.75584
Why we like it:
There is an overlap resistance level which aligns with the 88% Fibonacci retracement.
Take profit: 1.74155
Why we like it:
There is a pullback support level.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish reversal?GBP/CAD is rising towards the pivot which has been identified as an overlap resistance and could potentially reverse to the 1st support which acts as an overlap support.
Pivot: 1.75133
1st Support: 1.74061
1st Resistance: 1.75973
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
French election shock: What will FX markets say? France is on the brink of a hung parliament, with the left-wing coalition capturing the most seats in a stunning upset over Marine Le Pen’s National Rally.
Obviously, the forex markets are closed on the weekend. So will be interesting to see the reaction to these shock election results in France on the EUR/USD and EUR/GBP when the market opens. Regardless of whether the market thinks this turn of events is good for France or the Eurozone as a whole, this might be trumped by its dislike of surprises.
The left-wing alliance, projected to win between 180 and 215 seats in the 577-seat National Assembly, outpaced President Macron’s liberal bloc, which is forecast to secure 150-180 seats. The far-right National Rally, led by Le Pen, and its allies are anticipated to hold 120-150 seats.
Le Pen's National Rally led in the first round of voting last week and aimed to achieve a historic majority. However, strategic voting and alliances among left-wing parties have thwarted her efforts. Le Pen’s ties to Russia, including past opposition to EU sanctions, might have also harmed her campaign. Over the weekend, Le Pen had vowed to cancel permission for Kyiv to use French-supplied long-range weapons against targets in Russia.
GBP/CHF BEARS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
GBP/CHF pair is in the uptrend because previous week’s candle is green, while the price is evidently rising on the 12H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1.135 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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GBPCHFGBPCHF price is near the support zone. 1.11890-1.11186 If this support zone still works well It is expected that in the short term there is a chance that prices will rebound. Consider buying a red zone.
>>GooD Luck 😊
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Before trading You should analyze it yourself again.
Sell GBP/USD Rising Wedge BreakoutThe GBP/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Wedge pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around the current price of 1.2755, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 1.2680
2nd Support – 1.2637
Stop-Loss: To manage risk, place a stop-loss order above 1.2785. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
GBP/USD Advances Towards 1.2800 Amid Weak US Economic DataOn Thursday, the GBP/USD pair advanced towards the 1.2800 mark. Renewed selling pressure on the US Dollar (USD) propelled GBP/USD higher as markets reacted to disappointing macroeconomic data releases.
The ADP's monthly report indicated that payrolls in the private sector increased by 150,000 in June, falling short of the market expectation of 160,000. Additionally, the Department of Labor reported 238,000 first-time applications for unemployment benefits for the week ending June 29, up from 233,000 in the previous week.
Moreover, the ISM Services PMI fell to 48.8 in June from 53.8 in May, signaling a contraction in the service sector's business activity. The survey details revealed that the Employment Index and the Prices Paid Index declined to 46.1 and 56.3, respectively.
From a technical perspective, we anticipate a potential reversal in the supply area where we have set a pending order. Our seasonality analysis also suggests that GBP/USD typically begins a bearish trend during this period of the year, lasting until October. Therefore, we are looking for a bearish setup.
✅ Please share your thoughts about GBP/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Potential bullish rise?GBP/CAD is falling towards the support level which is an overlap support that aligns with the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.73418
Why we like it:
There is an overlap support level which aligns with the 50% Fibonacci retracement.
Stop loss: 1.72832
Why we like it:
There is a pullback support level.
Take profit: 1.74604
Why we like it:
There is an overlap resistance level which is slightly below the 61.8% Fibonacci retracement.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Euro eyes French vote after pound's rally Euro eyes French vote after pound's rally
The British pound surged above $1.276 on Thursday, reaching its highest level in three weeks, as voters across the United Kingdon headed to the polls for parliamentary elections.
The Labour Party, currently leading in the polls, appears poised to unseat Prime Minister Rishi Sunak's Conservative Party. Some projections suggest Labour could secure a majority, marking their first general election victory since 2005.
But, perhaps the more interesting trade is in the euro in reaction to the second round of voting in France scheduled for over the weekend on 7 July.
In a strategic move to prevent the far-right from gaining an absolute majority in the National Assembly, the left-wing coalition known as the New Popular Front (NFP) has announced it will withdraw its candidates in 200 districts where they finished third, lending support to stronger candidates opposing the National Rally (RN).
Forecasts now indicate the RN and its allies are likely to win between 190 and 220 seats, falling short of the 289 needed for an absolute majority. Prior to these withdrawals, polls had estimated the RN could secure between 250 and 300 seats.
In the forex market, a bullish push could see the euro retesting the previous high around 1.0850, with a potential challenge to the 1.0900 psychological level switching the broader outlook to bullish. Conversely, a drop below the 200 SMA may find immediate support at 1.0775, with further support at the 50 and 100 SMA levels around 1.0733.