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Gbp-usd

GBP/USD Faces Short-Term Volatility with Long-Term Bullish AnticThe GBP/USD pair is poised for a pivotal phase as a slew of significant macroeconomic events unfolds. Investors are preparing for crucial data releases from both the UK and the US, anticipating their impact on the currency pair's trajectory. This week and the following promise to be defining periods, with market attention drawn to pivotal reports and interest rate decisions. The looming US nonfarm payrolls report and forthcoming CPI data, alongside interest rate verdicts from the Federal Reserve and Bank of England, stand as key markers for the GBP/USD. These events could profoundly sway market sentiment and currency valuation. Notably, the pair has closely mirrored stock market movements, aligning with the rally in major indexes during November. Despite recent US market pauses, the DAX's continued ascent suggests a prevailing bullish trend in stocks. This trend may bolster the GBP/USD once profit-taking abates, potentially outweighing short-term volatility arising from impending macro events. In recent trading sessions, the US Dollar Index slightly receded against various currencies, particularly the Japanese yen, following speculation about a potential shift in the Bank of Japan's policy. However, the dollar's overall direction remains uncertain pending the US jobs report, CPI data, and the Federal Open Market Committee meeting. Market indicators suggest investor readiness for a subdued NFP figure, possibly resulting in a stronger dollar if the data remains moderate. However, sustained risk appetite could prompt a sell-off of any notable dollar rally in favor of risk-sensitive currencies like commodity dollars and the pound. Regarding immediate data releases, expectations for today's jobless claims are subdued, likely maintaining the GBP/USD in a holding pattern ahead of the pivotal US nonfarm payrolls report on Friday. From a technical perspective, the GBP/USD's upward trajectory since October, with higher highs and lows, indicates a bullish trend. Key support levels around 1.2550 and 1.2500 present potential bullish setups, with 1.2450 marking a critical threshold for a potential bearish reversal. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Long
by legacyFXofficial
GBPUSD: Sell opportunity under this Channel Up.GBPUSD has been caught up between two long term patterns, a Channel Up since December 2022 and then a Channel Down that emerged after the July 14th 2023 High. Right now it is on the rising wave (dashed Channel Up) of the Channel Down and on the November 29th High got overbought on its RSI (now balanced with RSI = 58.041, MACD = 0.009, ADX = 28.423). Our intention is to get on a validated short if the price crosses under the Channel Up and target the S1 level (TP = 1.2200). This setup will be invalidated if the price crosses over the R1 level. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
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