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Gbp-usd

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
GBPUSD 30/7/23What's up everyone starting off this week with British pound to the US dollar as always these markups are representing 5 minute price action but we have to post them on 15 minute due to trading views terms of use. We broke above a smaller swing high on Friday's session giving us a clear order block at London Open i'm now looking for price to revisit this before pushing higher if we push higher I'm expecting a smaller range to be formed to then break lower giving us a bearish bias which I believe we will continue on into the week. As it stands for today we have a bullish bias and we will carry that over into our first session of the week until we are proven wrong we will continue to track price as is delivered.
by PipSurfingSociety
GBPUSD Hit the Channel Up top. High probability for a pull-back.The GBPUSD pair hit on Friday the top (Higher Highs trend-line) of the Channel Up pattern that started on the March 08 Low. At the same time it got rejected on the 1.3150 Resistance, which was the April 14 2022 High, while the 1D RSI got extremely overbought at 78.50. This calls for a short-term correction back to the 1D MA50 (blue trend-line) and the Channel's bottom. We are willing to buy there with a low risk/ high reward long, targeting Resistance 2 at 1.33000. If however the price breaks below the 1D MA100 (green trend-line) we will take the loss and short instead towards the 1D MA200 (orange trend-line), with an early estimated target at 1.2400, although this will be modified depending on the position of the 1D MA200 at the time. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
2
GBPUSD BULL FLAG In today's trading session, we are closely observing the GBPUSD pair for a potential buying opportunity around the 1.3100 zone. A bull flag pattern has formed on the GBPUSD chart, indicating a temporary consolidation before a potential continuation of the upward trend. Once the breakout of the bull flag is confirmed, we will be attentive to any potential retracement of the breakout towards higher levels. This means that if the price moves higher after the breakout, we will be watching for a temporary pullback or correction in the price, which could provide another opportunity for potential upsides. Also with the recent inflation data in the US, which has been relatively soft, should contribute to continued upsides in the GBPUSD pair. Trade safe, Joe.
Long
by JoeChampion
9
GBPUSD: 4HR Death Cross, LH and LL formation downtrendMaintaining my shorts on this pair with validation coming from the 50EMA (turquoise) crossing the 100EMA (white) which forms a death cross in the 4hr time frame. GBPUSD has failed to make a new higher high and so I'm expecting a push down to the recent low, we may break this immediately, or retrace back to the descending trendline that's now formed. We're making lower highs and lower lows which indicates a down-trend. Ultimately I'm expecting this pair to fall to below 1.22 in the coming weeks. Big FOMC release tomorrow, if the notes support Powell's recent hawkish stance then this will be bad for cable, then there is NFP on Friday which is a bit unknown. Fundamentally for GBP, recent data suggests inflation may be coming down, which suggests that the BoE may become less hawkish. Powell suggested a couple more hikes, which could mean Fed interest rates remain higher for longer. I'm also expecting a push up for DXY based on it's chart patterns. I'm staying short.
Short
by Finchcliffe
14