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Gbp-usd

GBPUSD D1 - Correction before LONGGBPUSD is elegantly responding to the strategic convergence of resistance and supply prices, seamlessly aligning with the significant milestone of 1.27. In recent trading sessions, these key whole numbers have exhibited remarkable efficacy across the pairs under our scrutiny. Our discerning gaze is now fixed on pinpointing the extent of selling pressure exhaustion, laying the groundwork for a poised transition into potential long positions. The ultimate objective is to set our sights on the forthcoming psychological price zone at 1.30, strategically gearing up for the journey ahead.
Long
by Trade_Simple_FX
GBPUSD Pull-back buy opportunity.We looked at GBPUSD more than a month ago (see chart below) and the trade that prevailed was a bullish break-out above the 4H MA200: Basically that countered the loss on the Channel Down short, as the pair has entered a new Channel Up trade, which is now supported both by the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line). As the price is on the pattern's top (Higher Highs trend-line) and the 1D CCI posting a similar sequence as the March 2023 and November 2022 pull-back fractals, we expect a short-term correction towards the 1D MA200 and the 4H MA200 (red trend-line) at 1.2575 at least, followed by a rebound that we will buy, targeting 1.2900 (above Resistance 1 and +2.66% from the low). ------------------------------------------------------------------------------- ** 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 Weak Dollar and Potential continuation to the upsides.Hey Traders, In the upcoming trading session, our focus is directed towards GBPUSD, as we keenly observe a potential buying opportunity within the vicinity of the 1.25600 zone. GBPUSD presently navigates an upward trajectory, gracefully maneuvering through a correctional phase. Notably, it is edging closer to the 1.25600 support and resistance area, marking a crucial juncture in its current market dynamics. Trade safe, Joe.
Long
by JoeChampion
8
GBPUSD 19/11/23Starting this week off with GU From last Friday we've been playing within a large foolish range all of these structures that we have tracked from last week have been internal with some nice long moves lining up with our range bias we are looking for the range high to be taken and we are going to be looking for lungs into this week again if we break down the internal structure we may look for low risk counter trend sell entries but overall we are predominantly looking main target being 1.25060. within our bullish range we are still waiting for a SWH to form. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
GBPUSD H4 - Short SignalGBPUSD has experienced a substantial 2R decline. Stops, as previously noted, were on the larger side, presenting traders with the choice of adopting either an aggressive or conservative approach. The conservative option offered a lower risk-reward ratio but increased the likelihood of holding onto the trade, while the aggressive strategy involved tighter stops and a higher risk-reward ratio but also a greater chance of being stopped out. The market is progressing favorably at the moment, finding some support around the 1.24 level following a 100-point drop. It will be interesting to observe the unfolding developments throughout the day.
Short
by Trade_Simple_FX
1
GBPUSD Analysis 10-11-23The GBPUSD broke down from yesterday's consolidation at 1.2280 due to the DXY strength. As the price currently consolidates along the 61.8% fib retracement level (1.2225), the easy trend-following setup would be for a continuation of the downside toward the support level of 1.2160 and trendline, if the DXY continues to strengthen. However, an alternative view to consider would be for a retracement on the GBPUSD, to retest the resistance level and 38.2% fib retracement level (1.2290), especially given that the UK GDP data was released today at 0.2%, slightly higher than forecasted.
Short
by JinDao_Tai
GBPUSD: Wow, some move on Friday, needs to close FVG?That fundamentals last week had a serious impact on this pair. The FED held rates with a dovish tone, and then the cooling labour market data slammed the USD. The BoE also held rates, but with a hawkish tone. UK data is not great, USD real yields are stronger, and there are still global tensions which are normally strong for the dollar, that said, this pair has broken out of weekly descending path with some umph, so this could well be the start of a reversal. Normally in these cases we get a retracement first to fill the fair value gap, we're also at strong resistance so will I believe we have to fall back to attract more buyers. Overall I think we could be looking at a reversal so will be keenly watching the move down with tight SL but with an expected target around 1.221.
Short
by Finchcliffe
GBPUSD 5/11/23second pair for this week British pound to the US dollar we have a pretty similar set up here to Euro where we have broken down our 5 minute structure towards the end of market session on Friday giving us a new bullish range with a swing low and swing high in place we have a liquid low around 50% of our range so we'll be looking for this to be ran as price pulls back to fulfil some of the unmitigated price lower down and overall watching the low that we just spoke about and our swing poi for bullish continuations heading into this week. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
GBPUSD: Rejection from trendline, supported by fundamentals?As we can see price has is currently respecting the descending trendline again. I'm expecting the BoE to maintain their hike-pause stance, this result is already baked into the price... I'm placing a small trade on the basis that my expectations will be correct... If there's a pause or reduction (highly unlikely) I'm expecting a fall back to around 1.208 to continue the creation of the wedge, important not to be greedy here as I feel like we could break out of the wedge at anytime, so probably will be considering buys once this trade is closed and keep a close eye on PA in the LTF's. Let's see what the BoE do!
Short
by Finchcliffe
5
GBPUSD BUY| Day Trading Analysis With Volume ProfileHello Traders, here is the full analysis. Watch strong action at the current levels for BUY . GOOD LUCK! Great BUY opportunity GBPUSD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
8
GBPUSD: Expecting a bounce from hereLooking at this pair and comparing it to the DXY index I think there's more likely to be a bounce from here, than a further bearish extension. DXY is failing to break a descending dynamic trendline, it's currently retesting again and showing signs of rejection. Fundamentals were good for DXY today but the price didn't react as I would have expected, which suggests the bears are strong here. GBP showing a nice bullish pinbar on the 4HR today (even though this was followed by a bearish one following rejection from resistance), we're now back down to this region as a retest but has slowed. I may be wrong, but with GBP rejecting support and DXY rejecting resistance, we could see a nice strong move, watching LTF's for my entry, target 1.225 to retest the descending dynamic trendline that stopped yesterday's advance - we may breach this on this occasion, if we do I'm noting an uptrend (HH's and HL's) on higher timeframes.
Long
by Finchcliffe
6
GBPUSD: Rejection at descending trendlineWe saw GBPUSD spike today following the favourable employment news and then reject the descending trendline (confirmed with doji and then rejection). Fundamentally there has been negative PMI data (manufacturing was green but still below 50) to support my view, so I think the bigger downtrend will continue. I also don't believe the USD is done yet, it will remain strong due to current International conflict, the risk this brings and the need for dollars. Keeping a close eye as always on the fundamentals this week, but if we breach 1.2165 - 1.250 (yesterdays support area) then we should hit my target area.
Short
by Finchcliffe
2