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Gbp-usd

GBPUSD Reaches Critical ResistanceThe GBPUSD has broken down from a bearish price pattern, touching the monthly trendline at 1.1800 before rebounding to retest the previous breakdown level at 1.19254. We anticipate a potential reversal from this level back to the downside, although there is also a possibility for the price to continue rising towards 1.19984 before reversing lower. ------------------------------------------------------------------------- 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!
Short
by Candlestick_OB
GBPUSD H4 | Potential bearish reversal Looking at the H4 chart, the Price is testing the resistance level which we are looking for a sell entry at 1.2139 and take profit will be at 1.2017. Stop loss will be at 1.2256 which is overlap resistance Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by Rockqet
GBPISD Day | Potential Bullish ReversalWe are looking for a buy entry with lines up the 38.2% Fibonacci retracement. Entry: 1.1684 Why we like it: There is a 38.2% Fibonacci retracement and overlap support Stop Loss: 1.1406 Why we like it: There is a 50% Fibonacci retracement and another overlap support Take profit: 1.2430k Why we like it: There is a strong key resistance level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
GBPUSD Potential Long Forecast | 13th March 2023Fundamental Backdrop 1. DXY continues to weaken 2. The Claimant Count Change is expected to be better than previous, strengthening GBP. 3. Also do watch out for the Annual Budget Release on Wednesday which will add significant volatility to the market. Technical Confluences 1. Price bounced off key support level at 1.18700 2. Near-term minor resistance at 1.21300 3. Price broke above the descending trend-line and above the Ichimoku cloud indicating a bullish market structure shift. Idea Expecting price to continue bullish towards the resistance at 1.22700. 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
3
GBPUSD Potential Retrace to upsides but still at CPI Risk.Hey Traders, GBPUSD was trading in a downtrend and successfully managed to break it out after NFP news. and now in a correction phase. in tomorrow's trading session i would be watching a potential retrace of the trend around 1.20300 supply and demand zone. keeping in consideration the CPI data of Tuesday if it comes above expectations the plan will be cancelled and we will be switching into shorts as high CPI numbers signals more massive rates hike and more of a hawkish monetary policy. Trade safe, Joe.
Long
by JoeChampion
4
Gu could see some downside if h1 turns downGu and the likes of AU and NU looks weak to me. So, if USD came out stronger next week I will prefer looking to short them than EU. **Find out more from my Tradingview Stream this week** *************************************************************************************** Hello there! If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏 And if you would like to show further support for me, you can gift me some coins on tradingview! 😁 Thank you! Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared. Thank you, and please do your due diligence before any putting on any trades!
Short
by Shadowing_The_Big_Boys
GBPUSD:Potential short term upsidesHey Traders, i expect some short term weakness of the Dollar and short term uncertainty in DXY prior to tomorrow's NFP. so i think for today USD we will have some short term downsides as traders are taking profits on their dollar long for the sense of accomplishments and now waiting for NFP release to have an insight of what fed next move will be. looking at smaller timeframes we will notice that GBPUSD is trading in an uptrend so if we get any pullbacks i will be watching the price action around 1.185 zone. Trade safe, Joe.
Long
by JoeChampion
21
GBPUSD Outlook 9th March 2023Unfortunately, for the GBPUSD, it looks like unmitigated downside potential due to the recent strength of the DXY. On Wednesday, the GBPUSD reversed strongly from the resistance area of 1.2050 and saw a significant move to the downside. Breaking past 1.19 to reach a low of 1.18, the GBPUSD currently trades and consolidates along the 1.1842 price level (last tested in January 2023). While a brief retracement to the upside could be likely, the GBPUSD is more likely to continue with the downtrend to test the next key support level of 1.1766. However, watch out for a potential hurdle at the round number level of 1.18.
Short
by JinDao_Tai
GBPUSD - Now we wait... GBPUSD - Now we wait... GBPUSD within the ranges Highs: 1.22480 Lows: 1.18530 Keep in mind: we had BOE'S BAILEY: CAUTION AGAINST SAYING WE'RE DONE ON RATES & Let's not forget we aren't done with 'Brexit' as that tension tightens as per usual we saw EURGBP escalate higher whilst GBP we are within these ranges until prices give us clear direction. Technical view - It's very clear levels when it comes to price and we could even say there's pattern formed Highs: 1.22480 Lows: 1.18530 A break of highs, take us back to 1.24000 areas A break of lows, take us back to 1.17000 areas Don't forget to add alerts & stick to your own trade plan. Have a great day ahead, Trade Journal
by Trade_Journal
GBPUSD Important zones to watchHey Traders, above is a technical overview on GBPUSD and the most important zones to watch, we have noticed a structure approaching the major up trend so i will be considering the support at 1.09300, if we manage to get a break above the triangle then we will consider the retrace of the breakout at 1.20100. i would also warn traders to keep an eye on the upcoming events including fed speech, NFP on Friday and next week CPI data. Trade safe, Joe.
Long
by JoeChampion
16
GBP/USD expected to trade within 1.1925-1.2120 – UOBAccording to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, GBP/USD is expected to trade between 1.1925 and 1.2120 in the short-term horizon. Key Quotes 24-hour view: “Our expectations for GBP to weaken further were incorrect as it rebounded to a high of 1.2049. While upward momentum has not improved much with the rebound, GBP could edge higher to 1.2070. The next resistance at 1.2120 is not expected to come under threat. On the downside, a breach of 1.1985 (minor support is at 1.2005) would indicate that the current mild upward pressure has eased.” Next 1-3 weeks: “Last Friday (03 Mar, spot at 1.1985), we indicated that while downward momentum is beginning to build, GBP has to break 1.1900 before a sustained decline is likely. We added, ‘the chance of GBP breaking 1.1900 will remain intact as long as 1.2045 is not breached within the next few days’. GBP rose to a high of 1.2049 in NY trade. The breach of our ‘strong resistance’ indicates that downward momentum has faded. To look at it another way, instead of heading lower, GBP is likely to continue to consolidate, expected to be between 1.1925 and 1.2120.”
Short
by FOREXN1
7
GBPUSD | TO GO SHORT?GBPUSD TO FALL? With British Economy in a complete state and US Dollar gaining so much power due to recent Inflation values and quantitative tightening, its hard to see how GBP would fair to gain much more than it already has. We could see a further swing low as we form the M pattern (DOUBLE TOP) commonly seen as an indication of reversal. Time will tell but we firmly believe this could happen. We will be reactive and not predictive and wait for a retest of our zone once we are refused from the high. This trade will be invalid if we see no refusal or further break to the upside.
Short
by ElitePowerTrades
8
GBPUSD on a triple bottom 🦐The triple bottom pattern is a bullish reversal pattern that forms after an extended downtrend. It is characterized by three consecutive troughs that are at approximately the same price level, separated by two minor peaks. The pattern is complete when the price breaks above the resistance level formed by the minor peaks, indicating a possible trend reversal. Now, let's apply this pattern to the 4-hour chart for GBP/USD. We can see that the currency pair has been in a downtrend since the beginning of the year, with prices making lower lows and lower highs. However, in recent weeks, the price action has formed a triple bottom pattern with three distinct lows. The first confirmation of a potential trend reversal would be a break above the resistance level formed by the minor peaks at around 1.20700. This level has acted as a significant barrier to further price advances in recent weeks, but a break above this level would signal that buyers are gaining control and that the currency pair is likely to continue its bullish momentum. We can also look for an increase in volume as the price breaks above the resistance level, as this would confirm that buyers are entering the market and pushing prices higher. Therefore, based on the triple bottom pattern and a potential break above the resistance level, the GBP/USD currency pair is looking bullish on the 4-hour chart. Traders can look for confirmations to set a nice buy order, such as a break above the resistance level and wait for the Plancton's strategy to the satsfied.
by InkyGrip
10
GBPUSD Outlook 6th March 2023The GBPUSD completes the downward move following the formation of the Head and Shoulder pattern. As the price test and failed to break below the 1.1920 price area, the GBPUSD has rebound strongly to the upside, above the 1.20 level, and could approach the resistance level of 1.2070. Currently consolidating along the 1.2040 price level, look for further DXY weakness to take the GBPUSD higher. However, a more prudent trade would be to wait for the price to break above the immediate resistance level first. Beyond 1.2070, the next key resistance level is at 1.2150.
Long
by JinDao_Tai
1
GBPUSD Potential Continuation to the upsidesHey Traders, in tomorrow's trading session we are monitoring GBPUSD for a buying opportunity around 1.195 zone, GBPUSD is one of the trades i'm watching to buy as DXY shows some downwards. i still expect the Dollar to be indecisive until CPI release so we can have more of a clear vision about next Fed move. Technically i will watch some pullbacks extensions toward the major trend. feel free to ask your questions in the comment section. Trade safe, Joe.
Long
by JoeChampion
14
GBPUSD Outlook 2nd March 2023The GBPUSD failed to trade higher despite a strong upward move early in the trading session yesterday. The price climbed strongly to reach the 1.2080 price level but reversed strongly lower again as the DXY recovered in strength. A skewed head and shoulder pattern was also formed, which could indicate further downside momentum. Currently, as the GBPUSD trades below the round number price level of 1.20, a continuation to the downside can be anticipated, especially if the price breaks back under the bearish trendline. However, moves to the downside could be limited with the support level at the 1.1920 key support level.
Short
by JinDao_Tai
8