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Gbp-usd

GBPUSD can move higher? 🦐GBP/USD currency pair on the 4-hour timeframe see the formation of higher highs and higher lows, followed by a distribution pattern at the recent high. This could indicate that the uptrend is still intact and that the market is undergoing a period of consolidation before potentially continuing its upward movement. It appears that the pair is currently trading within a range between the recent highs and the 0.618 Fibonacci level, which is considered a key support level. The presence of daily support also suggests that there is a potential for the price to hold at these levels and continue to trade within the established range. Technical analysis suggests that traders watch for a break above the recent highs according to Plancton's strategy to confirm the continuation of the bullish trend.
by InkyGrip
4
GBPUSD H4: Bearish outlook seen, further downside below 1.2420On the H4 time frame, prices are approaching the resistance zone at 1.2420, in line with the graphical resistance zone, 78.6% Fibonacci retracement and descending channel’s resistance. We could see a reversal below this zone to the support zone at 1.2280, which coincides with the graphical support and 23.6% Fibonacci retracement. Stochastic is showing a bearish divergence and exited its overbought region which supports the bearish bias.
Short
by T3-Consultancy
1
GBP/USD trades in a range above 1.2300 as the Fed nearsIn early Europe, the GBP/USD is finding it difficult to move significantly higher than 1.2300. The pair is still supported as the US Dollar licks its wounds, US Treasury yields decline, and traders exercise caution before the Fed announces its policy decisions. US PMIs will also be monitored. The markets appear to be confident that the US central bank would moderate its aggressive approach and announce a lower 25 bps rate hike on Wednesday at the conclusion of a two-day meeting. This impacts on the USD and keeps US Treasury bond yields low. Trading participants appear hesitant to make big bearish wagers on the USD/JPY pair as the significant central bank event risk approaches. In addition, remarks made by BoJ Governor Kuroda Haruhiko, who stated that the bank must maintain its loose monetary policy and 2% inflation objective, limit the JPY's upward potential. This calls for more care before positioning for any appreciable significant fall, at least initially.
by FOREXN1
9
RLinda ! GBPUSD-> Breaking through trend support. What to expectGBPUSD is entering an uptrend correction phase. The price breaks the uptrend pattern - a reason for buyers to get nervous On the chart the key element at the moment is the sideways range of 1.2435 - 1.2290. Earlier the price tested the support and it managed to bounce from the level and head up to the previously broken boundary. A possible retest of the uptrend channel support may confirm the beginning of the correction. If the price consolidates under the uptrend line, the potential for fall to 1.22889 and further to 1.2175 will open. I suppose that now the price can grow to the border of the channel for confirmation of the trend break, if that happens, we should expect fall to the strong support of 1.22889 Regards R. Linda!
by RLinda
14
GBPUSD Analysis and Update by WE TRADE WAVESHey Traders, looks like GBPUSD is going to make an Exp flat for another move up. Make sure to not jump in if market goes to 1.23 level and always use proper risk management. P.S. Without a setup we will not enter. So we will be looking for our buy setups and we will ignore any sell setups from current level, if structure changes we will update you If you want us to post more charts, setups and explain more about the next move, make sure to follow us, like and comment. What we are sharing here is only our point of view on what could be the next move in the market based on our wave analysis concept so this is a directional bias and not signals... DO NOT FORGET "We Trade Waves" 4 GOLDEN RULES: 1) Do not over-risk 2) Do not over-trade 3) Do not trade without stop loss 4) Never ever add to losing position DISCLAIMER: We Trade Waves is not a signal service. Instead, it involves sharing our perspective and detailed analysis based on our unique wave analysis concept. We cannot be held responsible for any financial gain or loss that may result from following our analysis. Trade with care We Trade Waves Team
Long
by WeTradeWAVES
4
GBP/USD:Possible Double Top on Daily ChartThe price is now testing the previous higher high with a possible double top and the pair may move to the 61.8% Fibonacci retracement level meeting old support. A break here opens the risk of a strong drop as we progress through the week. However, there is important data on the calendar from the US economy and investors may be sitting on their hands until then. Looking forward, the UK Producer Price Index (PPI) details for January may entertain GBP/USD traders ahead of Thursday’s key US Q4 GDP and the next week’s Fed meeting.
by FOREXN1
5
GBP/USD drops toward 1.2300 on disappointing UK Services PMIGBP/USD drops toward 1.2300 on disappointing UK Services PMI After December’s impressive services PMI print, markets hoped for another encouraging print for January given a slightly improved outlook now that inflation appears to be headed in the right direction. This wasn’t to be the case as the new year brought with it a sustained downturn in the UK private sector business activity. Survey respondents pointed to higher interest rates and lower consumer confidence as key determinants of the lower activity as Britain grapples with the ongoing cost of living crisis. The services sector experienced the worst decline in business activity over the last two years up to this point. The report adds to the recent, disappointing UK retail sales data which plummeted over the holiday period as consumers tightened their belts. One small piece of good news came in the form of the manufacturing data, which beat expectations coming in at 46.7 vs 45.5 expected. However, this wasn’t enough to appease the FX market as the sterling traded around 50 pips lower after the release. The Bank of England will meet next week to discuss another 50 basis point hike to stem demand and help inflation move down further. Fresh in their minds will be the fastest pace of average earnings since 2001 which raises alarm bells of a wage-price spiral – something central bankers look to avoid at all costs
by FOREXN1
3