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Gbp-usd

GBPUSD Two buy entries. Keep a tight SL.GBPUSD has almost touched the Fibonacci 0.382 level from the bottom 1 year ago, trading under both the MA50 and MA200 (1d). The RSI (1d) is rebounding today aggressively being still inside very rare oversold levels, which visited last time during September 26th 2022. This justifies a long term buy but if the 0.382 breaks, the next (and strongest) Support Zone is over Fib 0.5. Trading Plan: 1. Buy on the current market price. 2. Buy on 1.1850 (Support Zone 1). Targets: 1. 1.2700 (+5.09%, the minimum range for 2023). 2. 1.2350 (again +5.09%). Tips: 1. If we assume that the large pattern is a Channel Up, then its Higher Lows trendline falls around Fibonacci 0.5 and Support Zone (1). That enhances considerably the probabilities of this being a mega bottom. Please like, follow and comment!!
Long
by TradingBrokersView
1
GBPUSD: Buy opportunity on extremely oversold levels.GBPUSD hit the bottom of the prolonged Channel Down pattern, reaching extreme oversold technical levels on the 1D timeframe (RSI = 21.119, MACD = -0.012, ADX = 59.945). The 4H MACD is approaching the formation of a Bullish Cross, and prior price action shows that when formed this low, it always rebounds and hits at least the 1D MA50. We are on an early long trade, targeting the course of the 4H MA50 (TP = 1.2275), even though a Channel Down top extension can even reach as high as 1.2425. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
9
GBPUSD 24/9/23GU if you haven't already noticed has been falling like a stone from last week, now of course you will see this is pretty much the same moves our other pairs have been making, giving us a nice uniform correlation and with this we are looking for it to line up if we do reverse with our other prediction. Of course it is not something we actively seek to do which is trade against trend, but we are seeing more than just structure pointing to the upside including our liquid highs withing our current bearish range. Overall bearish, so if we do drop deeper don't be shocked! We are aiming for the lows but we are looking for a entry setup to long this if that's what she wants to do, of course lower trend and deeper moves may come, if so we will follow this to. 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
GBP/USD increasing pressure as positive US economic data boostsThe GBP/USD pair finds itself under increasing pressure as positive US economic data boosts the dollar, causing it to dip below its 200-day Moving Average. With the odds of a November rate hike by the Fed standing at 32.45% and diminishing expectations of a BoE rate hike towards 6%, the GBP/USD's outlook is becoming more bearish. The Pound Sterling (GBP) has faced a second consecutive day of weakness against the US Dollar (USD) due to a series of upbeat US economic reports that have strengthened the Greenback. This shift in sentiment has increased demand for safe-haven assets, particularly the US Dollar. Friday's data revealed that Americans' inflation expectations have decreased, as indicated by the University of Michigan (UoM) poll. Inflation is projected to rise to 3.1% for a one-year period, down from August's reading, and is expected to reach 2.7% for a ten-year period. Despite this optimism, consumer sentiment declined to 67.7, falling below the forecast of 69.1. The US Federal Reserve also reported that Industrial Production expanded by 0.4% MoM, slightly below July's 1% but surpassing consensus forecasts. Furthermore, data from the New York Fed revealed that the Empire State Manufacturing Index for September improved to 1.9 from August's figure of -21, exceeding expectations of a -10 decline. Meanwhile, the money market futures remain skeptical about the possibility of the US Federal Reserve hiking rates once more before the end of the year, as indicated by the CME FedWatch Tool. For the upcoming week, the US central bank is expected to keep rates steady, with the odds of a 25 bps hike in November at a moderate 32.45% chance. Nevertheless, US Treasury bond yields have risen, driven by the latest inflation reports on both the consumer and producer sides, showing an uptick after a year of deceleration. The US 10-year Treasury Note now yields 4.326%. However, the dollar is losing some of its momentum. On the other side of the Atlantic, the Bank of England (BoE) is anticipated to raise rates by 25 bps, but it faces challenges such as a slowing economy. The Bank Rate is expected to be raised to 5.50%, but traders have scaled back previous expectations of a rate increase to 6%, with the odds for the November 2 meeting standing at around 15%. The Fed is likely to keep rates unchanged in the US, but the economy remains robust, and investors are optimistic that the US central bank will achieve a soft landing. As a result, further downside pressure is anticipated in the GBP/USD pair, with monetary policy signaling that the BoE may be the first to blink and cut rates.
Short
by FOREXN1
15
GBPUSD 10/9/23GU we have a nice counter and a trend setup here with this pair, as a whole we need to look towards our open to tell us if we can trade these moves, short term bullish, long term bearish but of course as mentioned in our earlier mark up we aren't really that clear with our corresponding pairs for example USD is looking like we might be bullish within some pairs and bearish within others, keeping this in mind at our open and within our first Monday sessions. 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 Strongest buy signal since March.It has been almost 2 months since we last looked into the GBPUSD pair (see chart below), taking as sell position after the price was rejected on the Channel Up pattern's top: That Channel Up broke downwards, and the last such pattern to remain valid is the one shown on the current chart. The price is below the 1D MA100 (green trend-line) and today hit the bottom (Higher Lows trend-line) of the pattern. That is the exact pattern we saw on the March 08 bottom. The 1D MA50 (blue trend-line) is the short-term Resistance, which if broken, confirms the long-term bullish leg to a new Higher High. Right now this is a buy signal, targeting at least 1.3300 (below Resistance 2) on the long-term. However, if a 1D candle closes below the Channel's bottom, you can also take a short-term sell position, targeting the 1D MA200 (orange trend-line) at 1.2450. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
6