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Gbp-usd

GBPUSD 2/9/23Final pair for this Sunday evening is GU now as per our other USD related pairs we can see the news range clear as day, this again is a very telling sign as to what we want price to do within this range but as always we are not going to jump in head first, and we are using the new POI as we always do with caution! Iam overall thinking we are most likely going to see a bearish shift, il only be entering with less risk and a confirmed entry point. 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 MIXED FEELINGSIn the past update, I mentioned that if the price goes above the 1.29818, a long position has to be taken into consideration. However, if the price breaks the 1.28215 on the downside, then it will continue to drop until the other levels that I marked at the beginning of August. For now, all the price levels have been touched. GBP/USD is trading below the 200-day moving average, which is a bearish signal. However, the price is also trading above the 50-day moving average, which is a bullish signal. This suggests that the market is currently in a state of indecision, and it is possible that the pair could break out of this range in either direction in the near term. Wait to see how the price develops in the near future before going Long or Short. My personal belief is that the price will soon start to correct on the upside, however, I will be waiting for more market evidences. From a fundamental perspective, there are a few factors that could influence the GBP/USD in the near term. First, the Bank of England is expected to raise interest rates by 25 basis points on Thursday, which could provide some support for the pound. However, the UK economy is still facing headwinds from Brexit and the war in Ukraine, so it is possible that the pound could weaken if these risks continue to weigh on sentiment. Overall, the outlook for the GBP/USD is uncertain in the near term. The pair is trading in a narrow range, and it is unclear which direction it will break out of this range. The fundamental factors are mixed, with the Bank of England rate hike being a positive for the pound, but the UK economy facing headwinds from Brexit and the war in Ukraine. The technical indicators are also mixed, with the 200-day moving average being a bearish signal, but the 50-day moving average being a bullish signal.
by YExplore
1
GBPUSD sell Short term In the GBP/USD trade analysis, a short-term bearish bias is observed. The currency pair's recent price action reveals a struggle to breach resistance levels, accompanied by weakening momentum indicators. This scenario hints at a potential reversal in the near term. Traders could consider short positions, targeting support levels as potential profit-taking areas. However, monitoring news events and broader market sentiment remains crucial, as these factors could influence the trade's outcome. It's advisable to set stop-loss orders to manage risk effectively and adapt to any unforeseen market fluctuations during this short-term bearish phase.
Short
by creamygem
GBPUSD 13/8/23GU giving us a textbook markup here, we have a very clean internal price action move with a bullish short term swig higher, this is perfect to lead us into our overall swing range which we are expecting to sell lower, this will lead us nicely into what we expect for the USD pairs which is a sell off into a huge upside move. We are looking for sells from our high of the range here as long as we don't clash with news or have any other external factors. 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: Channel Up broken downwards. Bearish mode right now. GBPUSD crossed under its four month Channel Up pattern, as well as closing under the 1D MA50, thus turning the 1D timeframe bearish (RSI = 43.717, MACD = -0.001, ADX = 34.501). Currently this is a sell signal, targeting the 1D MA100 (TP = 1.2625). Every Support (S) broken, will be a sell signal for the next one. We are buying only if the price crosses over the 0.618 Fibonacci level or the 1D MACD completes a Bullish Cross. In both events, our target will be the 1.382 Fibonacci extension (TP = 1.3335). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
7
Interest rate advantage gradually disappears, GBP/USD trendPost use Google translate In addition to the impact of high inflation, UK retailers were hit by heavy rains in July, with sales growth falling to an 11-month low, the survey released on Wednesday showed. The British Retail Confederation (BRC) said retail sales in July rose 1.5% from a year earlier, less than half the 12-month average of 3.9% and well below the previous level. peaked at 5.2% in February this year. The data isn't adjusted for inflation, so a slight increase in consumption in July meant a drop in sales. So far, UK consumers have largely weathered the negative impact of last year's rising inflation and steady rate hikes by the Bank of England, but the impact is likely to be more severe. in the coming months. These have made the outlook for the UK economy weaker, and the likelihood of further rate hikes by the Bank of England has become limited. With the interest rate advantage gradually disappearing, and the economic development of the United States is clearly better than Europe in general. Therefore, it looks like GBP/USD has less fundamental support in the near term. On the daily chart, OANDA:GBPUSD although has recovered significantly from the support level of 1.26820 sent to readers in the previous releases, the upside correction will also be limited by the main bearish channel (b) ). It is difficult to see a technically sustainable upside in GBP/USD. For GBP/USD to qualify for the upside at least it needs to take the price action above the 0.382% Fibonacci level and break out of the descending channel (b). A negative case for GBP/USD will quickly emerge as once again moving below the 0.50% Fibonacci level, the target level will then be around 1.26820 and more at 1.26247 at the 0.618% Fibonacci price point. Despite the recovery, the technical outlook for GBP/USD remains bearish with notable technical levels below. Support: 1.27235 – 1.26820 Resistance: 1.28224 @BestSC
by BestSC
GBPUSD: The beginning of the end?I'm expecting full on GBP weakness over the coming weeks, regardless of what happens with the dollar. We've broken below the months of ascending trendline and so far failed to break back above, we have a beautiful bearish engulfing candle on the 4hr close from Friday. I get this pair wrong a lot (because I live in the UK and can see a car crash happening in slow motion...), so will definitely not be jumping in. We have big US CPI data on Thursday at 13.30 GMT, if inflation figures are worse (lower) than forecast then this will be good for the GBP in the short term - however I'm thinking that the best will happen is a failed retest of the trendline and I'm thinking we're starting the move back down - just deserts for how the BoE have performed imho.
Short
by Finchcliffe