Get started

Gbp-usd

GBPUSD Watch the RSI MA and Support (1)The pair is trading inside the MA50 1D and MA200 1D for the past 2 weeks. If the RSI 1D crosses above its MA (white line) it is a bullish signal, which has worked 4 times since July 2022. If the price crosses under Support Zone (1), it is a bearish signal. Trading Plan: 1. Buy if the RSI crosses above its MA. 2. Sell if the price crosses under Support Zone (1). Targets: 1. 1.1750 (top of Support Zone (2)). 2. 1.2135 (MA50 1D). Tips: 1. A wider range has been in effect since November 30th between Support Zone (1) and Resistance (1). Please like, follow and comment!!
by TradingBrokersView
4
GBPUSD Potential retest on the Overalp supportLooking at the H4 chart, my overall bias for GBPUSD is slightly bullish even though the current price is below the Ichimoku cloud, expecting the price to go down to restest at the overlap support. Looking for a buy entry at 1.19308 where the overlap support and 78.6% Fibonacci line is. Take profit will be at 1.20644, where the recent swing high is. Stop loss will be at 1.17855, where the recent swing low is. 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
1
GBPUSD Potential retest on the Overalp support Looking at the H4 chart, my overall bias for GBPUSD is slightly bullish even though the current price is below the Ichimoku cloud, expecting the price goes down to restest at the overlap support. Looking for a buy entry at 1.19308 where the overlap support and 78.6% Fibonacci line is. Take profit will be at 1.20644, where the recent swing high is. Stop loss will be at 1.17855, where the recent swing low is. 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.
Long
by Rockqet
1
j.Hejazi | GBPUSD is fallingIn line with my previous analysis, GBPUSD has moved precisely as anticipated. Following a retest of the prior local resistance, the price broke the trend line with an engulfing 7-day candle. The next target for the price is the 1.18550 support level, after which there may be a small bounce before it aims for 1.15000. ------------------------------------------------------------------------- Please follow if you're interested in more ideas like this. Let me know your thoughts in the comments, and show your support by liking the idea. Your support is greatly appreciated!
Short
by Candlestick_OB
1
US Dollar Strengthens: Sell GBP/USD for Profitable TradesHey Traders! GBPUSD is currently on a huge pullback on the monthly timeframe, developing a bearish engulfing candlestick. Currently rejecting the 50 moving average on the weekly. Attempting to break the daily up-trend, although the lower period moving averages already have been broken. A closure will confirm the trade to go lower, however 100-200 moving averages are nearby so I expect some bullish pressure once touched before the eventual break of support. We can also see the double top structure, formed a M pattern if the neckline is broken we will for sure see bearish momentum increase.
Short
by FX-TradingLions
GBP/USD drops to 1.2075 on downbeat UK inflationAs the UK inflation data disappoints, GBP/USD takes offers to refresh the intraday low near 1.2100, adding strength to the first daily loss in three days. Nonetheless, the UK Consumer Price Index fell 10.1% year on year in January, compared to 10.3% expected by the market and 10.5% previously. With this, headline inflation has fallen for the third consecutive month after reaching a 41-year high in October. More importantly, the Core CPI, which excludes volatile food and energy items, fell to 5.8% year on year, down from 6.2% expected and 6.3% in previous readings. Given the mostly negative UK inflation figures, as well as the mixed jobs report from the previous day, the GBP/USD could fall further, as Bank of England (BoE) officials have recently highlighted the data dependency for further rate hikes. Furthermore, a separate Reuters survey of economists predicted no more than one rate hike of 25 basis points (bps) in March before the BoE initiates policy pivot calls. Because Fed policymakers are comparatively more hawkish despite recent soft US inflation, the GBP/USD could face additional downside pressure. Alternatively, the Financial Times (FT) reported that UK Prime Minister Rishi Sunak and Finance Minister Jeremy Hunt are open to a deal with workers that includes a lump sum payment by backdating next year's pay award. This follows previous attempts by UK firms to raise labor pay in order to support inflation and put a floor under the GBP/USD price. Despite an unimpressive US Consumer Price Index (CPI), hawkish Federal Reserve (Fed) comments and a recovery in US Treasury bond yields appear to be exerting downward pressure on the Cable pair. Against this backdrop, US 10-year Treasury bond yields remain stable at around 3.75%, after rising three basis points (bps) the previous day to re-establish a six-week high, while the two-year counterpart follows suit by poking 4.62%, near 4.61% at the latest. However, the S&P 500 Futures fell half a percent, tracing Wall Street's losses and favoring the US Dollar's haven demand, allowing the US Dollar Index (DXY) to post its first daily gain in three days, up 0.27% intraday near 103.55 by press time. Following the initial market reaction to key UK data, GBP/USD traders should await US Retail Sales and Industrial Production details for January, as well as the NY Empire State Manufacturing Index for February, for clear direction. However, a few central bankers from the Fed and the BoE are scheduled to speak, which may entertain Cable traders ahead of Friday's UK Retail Sales.
Short
by FOREXN1
5
GBPUSD H4: Bearish outlook seen, further downside below 1.2170On the H4 time frame, prices are facing bearish pressure from the resistance zone at 1.2170, in line with the 50% Fibonacci retracement and 61.8% Fibonacci extension where we could see a further drop below this zone to the support zone at 1.1920. This support zone coincides with the graphical area and 100% Fibonacci extension. Failure to hold below the 1.2170 resistance zone could see prices push higher to the next resistance zone at 1.2280. Prices are holding below the Ichimoku cloud as well, supporting the bearish bias.
Short
by T3-Consultancy
Possible breakdown below 1.20GBP is above 1.20. That is why I obstain from shorting it now. Its risky to short it for now. It is very strong support level. But price poked below it a few times (indicates weakness and future breakdown. The more price pokes through support the weaker it gets). Trendline breakdown with a strong bearish candle indicates move lower. So do also lower low and lower highs. Price might retest monthly close before it starts trending down. IF price makes higher high on daily, it will end at 1.30. FOR EDUCATIONAL PURPOSES ONLY.
Short
by ICFX
GBP/USD forecast ahead of key inflation data It is prudent to examine the strength of the US dollar against the pound in the lead up to two very important inflation data reports. First is the US inflation data due on Wednesday morning at 2.30 am (NZDT). And second is the UK’s inflation data on Wednesday night at 8.00 pm (NZDT). The annual US inflation rate to January 2023 is expected to fall to about 6.2% from 6.5% in December of 2022, and in doing so will continue the decline of consumer prices for a seventh straight month. However, a smaller than expected decline in the US inflation data might shake a little more bulls off the GBP/USD frontline, after it dropped from 1.2400 to below 1.2030 last week, its weakest level since January 6, and breaking through its upward trendline. The decline in UK inflation is expected to fall from 10.55 to 10.2%, but it has been beating expectations and falling more than forecast in its previous 2 releases, so another beat might be on the cards and putting the GBP back on the front foot. GBP/USD attempted to bounce back last Thursday after establishing support at 1.2015 but failed to close above the 200-EMA. This failed move meant the GBP/USD ended the week with a big red candle, engulfing the previous bullish candle that tried to move past the 200-EMA. The rejection at the 200-EMA means there is resistance at around 1.2121, which could be considered a lower high in the downtrend. Stronger-than-expected US inflation or weaker-than-expected UK inflation could see GBP/USD breaking below 1.2018, with 1.1900 a potential target for the downward move. On the opposite side of the trade, GBP/USD may rise to 1.2189 or even 1.2318 from a swing perspective. Look for a closing above the 200-EMA and the 1.2121 resistance area for this to happen.
by BlackBull_Markets
GBPUSD a short opportunity 🦐In technical analysis, a distribution block is often viewed as a sign that the market is losing steam after a strong bullish trend. This can be an indication that the market is starting to correct itself, and that the trend may be reversing. In the case of GBP/USD on the 4 hour timeframe, the price breaks below the distribution block and If then will retests the previous support, which has now become resistance, it could be a sign to consider a short order according to Plancton's strategy. This is because the retest of the former support level at a lower price could indicate that the market is not able to sustain its previous bullish trend and that the bears are now in control.
by InkyGrip
16