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Gbp-usd

GBPUSD Claimant Count Change | 18th April 2023Fundamental Backdrop 1. UK employment rate increased by 0.2% which indicates a growing workforce and potential for increased economic output. 2. Payrolled employees increased by 31,000 in March 2023, indicating that businesses are hiring and expanding their operations. 3. Unemployment only increased by 0.1 percentage points to 3.8% in December 2022 to February 2023, indicating a relatively stable job market. 4. Economic inactivity decreased by 0.4 percentage points to 21.1% in December 2022 to February 2023, which suggests that more people are entering the workforce and contributing to the economy. 5. Growth in average total pay and regular pay is strong, with the private sector seeing particularly high growth rates in December 2022 to February 2023, indicating that workers are being well-compensated and able to contribute to the economy. Technical Confluences 1. Near-term resistance at 1.25000 2. Next resistance at 1.26350 Idea With a strong bullish outlook for GBP, we are looking for price to head towards the near-term resistance at 1.25000. A break above 1.25400, could bring price towards the next resistance at 1.26350 NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Long
by OlympusLab
GBPAUD reversal setupA very clean reversal setup here for GBPAUD we tracked this bullish move higher from last week, after fridays price action we have now seen a move out of the current range and into a new sell move. With this breakdown we can see that our order flow has shifted bearish at least for the short term, werre looking at our unmitigated supply to give us a smooth move to take price lower into a new range. now as far as entry for this trade goes il be watching the highs as they have clear trend liquid above them, so with this in mind i may look t take a trade once we sweep out this high or allow more room with the SL to make up for any possible sweeps! 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!
Short
by PipSurfingSociety
GBPUSD expected to bounce off support levelsThe GBPUSD has experienced a rapid decline from the upper edge of the ascending price channel to the lower edge, where it settled at 1.24128. It is also currently above the weekly support line, Fibonacci level of 38.20%, and a rising trendline. Additionally, the price is only 20 pips above the 100-period moving average for the 4-hour timeframe. It is expected that the price will respond to the local weekly resistance, the rising trendline, the moving average, and the Fibonacci level by moving upwards to make a correction towards 1.24470, possibly reaching 1.24585. However, if it continues to drop and breaks the rising trendline, and then confirms the break by going below the 100-period moving average, it is likely to continue the decline towards 1.2325. The idea of a potential decline is supported by the existence of a divergence between the last two price peaks, indicating a lack of strength and momentum to support further upward movement.
Long
by Candlestick_OB
4
Key levels converge for potential GBPUSD buying opportunityThe GBPUSD has reached the upper edge of the upward price channel, showing rejection from above and overbought conditions on momentum indicators. I expect the price to retest the local resistance at 1.23953, which is also where a rising trendline meets a weekly resistance level and the 23.6% Fibonacci level. I will not challenge the trend and will wait for a buying opportunity from those areas. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Long
by Candlestick_OB
GBPUSD: Rejection expected around 1.2650 and then long term buyThe GBPUSD pair crossed over the Resistance level that was in place since December 14th with the 1D technicals displaying healthy bullish numbers (RSI = 65.308, MACD = 0.009, ADX = 28.394). The 1D RSI is rebounding on the former LH trendline and this is an indication that the current rise can extend more. The R1 Zone is the next Resistance and is where we expect (around 1.2650) to make the final pullback to the 1D MA50 and Fibonacci 0.5 level before it rebounds to R2 for our long term target (TP = 1.3090). If the price crosses over the dashed line first, then the pullback is negated and we can see 1.3090 earlier than expected. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
GBPUSD Forecast Post GDP | 13th April 2023Fundamental Backdrop 1. GDP m/m printed 0.0% compared to forecasted at 0.1%, which is worst than previous of 0.4% 2. It shows that the economy's health is decreasing 3. Based on previous data on Feb 10th 2023 where the GDP also dropped, we saw an estimated 100 pips drop within the day. Technical Confluences 1. Near-term support at 1.24550 Idea We are looking for price to turn bearish and head towards the near-term support at 1.24550. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Short
by OlympusLab
GBPUSD:CPI below expectations signals a pause of rate hikesHey Traders, in today's trading session we are monitoring GBPUSD for a buying opportunity around 1.24300 zone, GBPUSD was trading in a downtrend but after today's CPI data successfully managed to break it out, now we will be waiting for a correction to watch a potential retrace of the trend around 1.243 Support area. today's CPI came below expectations and also the previous US data where soft which indicate that fed will likely take a pause for rate hikes. Trade safe, Joe.
Long
by JoeChampion
5
GBPUSD Potential UpsidesHey Traders, in today's trading session we are monitoring GBPUSD for a buying opportunity around 1.24200. GBPUSD was trading in a down trend but then successfully managed to break it out. if we manage to get a pullback we will look for a potential retrace of the trend around the 1.24 support and resistance zone. Fundamentally all US data were soft and signals a less restrictive monetary policy if CPI tomorrow comes soft that should be a good indicator for the upsides. Feel free to ask any question in the comment section. Trade safe, Joe.
Long
by JoeChampion
7
GBPUSD Crystal clear Channel Up.GBPUSD is pulling back to the MA50 (4h) inside a Channel Up pattern. Every Channel Up Higher Low has been on the MA50 (4h). Trading Plan: 1. Buy when the price hits the MA50 (4h). Targets: 1. 1.2670 (Resistance 1 and May 26th 2022 Top). Tips: 1. The RSI (4h) is inside a Channel Down and every touch on its bottom was a buy entry for the pair. Use it as additional confirmation to enter. 2. Every rebound from the Channel Up bottom has been around +2.75%. As a result we can see the price rise a little higher than our suggested target, but we believe the long term Resistance affects the trend more. Please like, follow and comment!!
Long
by TradingBrokersView
6
GBPUSD Making a bullish break-outThe GBPUSD pair eventually rebounded and hit the Double Top Resistance, which was our Target as presented on our February 28 analysis: At the moment the price is above that level (1.2450) and as long as it closes above it, we will be targeting 1.2650 on the May 27 2022 High Resistance. A closing below 1.2450 could set this rise back to the 1D MA50 (blue trend-line) until the 1D RSI turns neutral around 50.00 again and attracts buyers. Note that there is an important long-term Resistance Cluster ahead as besides the 1.2665 Resistance (May 27 High), we have the June 01 2021 Lower Highs trend-line. A break above the 1W MA200 (red trend-line) places GBPUSD back into long-term bullish territory on the 1W time-frame. ------------------------------------------------------------------------------- ** 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
3
GBPUSD Feels a need of correction before further upsidesHey Traders, in today's trading session we are monitoring GBPUSD for a buying opportunity around 1.234 zone, GBPUSD is trading in an uptrend and now seems to be in a correction phase in which it is approaching the major trend around 1.234 zone, Fundamentally US data continues to show weak including today's employment news along with market expecting less restrictive monetary policy from the Federal Reserve. Trade safe, Joe.
Long
by JoeChampion
22
BET ON DXY LONGTERM DECREASE IN VALUE?Back again. FED will be on their target next interest rise, so with that information I suppose that Market starting pricing in this fact. Important will be BoE reaction on this and I assume that they will atleast few times rise, sending Cable upward faster. Corrections meantime are sure thing to grab and shake out retail in wrong direction. If I missed something which can change my longterm bias, let me know in the comments please! Wish you only greens, Jake
Long
by jake1fx