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Gbp-usd

GBP/USD H4 Triangle BreakoutGBP/USD H4 Triangle Breakout Hints at Downside: Potential Sell Opportunity Emerges The GBP/USD pair on the H4 chart exhibits a bearish signal suggestive of a potential decline in the coming hours. A recent downward breakout from a symmetrical triangle pattern could offer a shorting opportunity. Key Points: Triangle Breakout: The price has been consolidating 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 1.2650 signifies a shift in momentum towards the downside. Sell Entry: Consider entering a short position around the current price of 1.2650, offering an entry point close to the breakout level. Target Levels: Initial bearish targets lie at the support levels of 1.2422 and 1.2317, 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 1.2800 Fundamental Updates : January 2024: The NFP report exceeded expectations, showing a gain of 353,000 jobs despite forecasts of 180,000. This robust job growth suggests a strong US labor market and could support the USD by Reinforcing expectations for continued Fed rate hikes: A hawkish Fed stance strengthens the USD against other currencies. US Consumer Price Index (CPI) (Feb 14): A higher-than-expected inflation reading could strengthen the USD as the Fed might be pressured to raise rates further. Conversely, a lower reading could offer some support to the GBP. If you found my post helpful or informative, could you please leave a comment 💬🖌 and hitting that like button💚💚 “Markets are never wrong, but opinions often are.”-Jesse Livermore Good Luck💛💛 Thank you
Short
by KABHI_TA_TRADING
20
GBPUSD Potential Continuation to downsidesHey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.25700 zone, GBPUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.25700 resistance zone. Adding a fundamental layer, The Federal Reserve's recent warning regarding potential changes to its monetary policy stance, particularly the indication that rate cuts in the upcoming months are unlikely, has cast a shadow over the GBPUSD pair. This cautious stance from the Fed signals a potential strengthening of the US dollar against major currencies, including the British pound. With expectations for a more hawkish Fed in the near term, investors are reevaluating their positions in riskier assets and considering safer havens such as the USD. Consequently, this sentiment shift could exert downward pressure on the GBPUSD pair as traders recalibrate their expectations and adjust their positions in response to the evolving monetary policy landscape outlined by the Federal Reserve. Trade safe, Joe.
Short
by JoeChampion
1
GBPUSD H4 Bullish ChannelGBP/USD H4 Bullish Channel: Opportunities for Both Long and Short The GBP/USD pair on the H4 chart currently exhibits a bullish channel pattern, offering potential short-term buy and sell opportunities depending on price action. Here's a breakdown: Buy Opportunity: 1. A potential buy entry could be considered near the current price as it hovers closer to the channel support. This allows for some buffer before a potential bounce upwards. 2. Targets for the bull case would be the upper resistance line or potentially even higher depending on momentum and confirmation from other technical indicators. Shifting to Short: 1. A break below the lower support line of the channel would signal a breakdown of the bullish trend, opening up potential sell opportunities. 2. Entry points for shorting could be considered just below the broken support or on a retest of the broken line. 3. Targets for the bear case would be the previous swing lows within the channel or deeper depending on bearish momentum and confirmation from other technical indicators. Central Bank Decisions: Federal Reserve (Fed) Meeting and Interest Rate Decision (Jan 31): This is the biggest event. A hawkish Fed with a large rate hike (75bps+) and strong economic projections could significantly strengthen the USD against the GBP. Conversely, dovish hints or smaller increases could favor the GBP. 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, while hawkish inclinations might offer some support. US Non-Farm Payrolls (Feb 2): A robust US jobs report might reinforce hawkish Fed expectations and weigh on GBP/USD. Conversely, weaker data could dampen USD strength and lend some support to the pound. If you found my post helpful or informative, could you please leave a comment 💬🖌 and hitting that like button💚💚 “Markets are never wrong, but opinions often are.”-Jesse Livermore Good Luck💛💛 Thank you
Long
by KABHI_TA_TRADING
1
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
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
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