GBPUSD on the top of the Bearish Megaphone. Low risk sell entry.GBPUSD is trading inside a Bearish Megaphone structure.
The price got rejected 2 days ago on its top.
A crossing under the Rising Support will be a selling validation much like December 18th.
This break out hit Support A before rebounding.
Stay bearish as long as the Megaphone holds and target 1.2100 (Support A).
Previous chart:
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Gbp-usd
Keep an eye on the BoE interest rate decisionDo not miss the BoE interest rate decision, where the Bank is expected to go for another 25bps cut. Can the BoE afford it? Let's see.
MARKETSCOM:GBPUSD
FX_IDC:GBPUSD
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Bullish continuation?The Cable (GBP/USD) is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance that lines up with the 127.2% Fibonacci extension.
Pivot: 1.2475
1st Support: 1.2393
1st Resistance: 1.2611
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bullish momentum to extend?GBP?USD is falling towards the support level which is an overlap support that is slightly below the 23.6% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.2466
Why we like it:
There is an overlap support level that is slightly below the 23.6% Fibonacci retracement.
Stop loss: 1.2398
Why we like it:
There is a pullback support level that aligns with the 50% Fibonacci retracement.
Take profit: 1.2581
Why we like it:
There is a pullback resistance level that is slightly below the 127.2% Fibonacci extension.
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GBPUSD Channel Down top rejection calls for selling.GBPUSD is trading inside a Channel Down and the price is testing its top again for the 4th time in 1 week.
This looks to us like December 17th, a rejection on the 0.5 Fib and MA200 (4h) that initiated a drop to the 1.5 Fib extension.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 1.2110 (the 1.5 Fibonacci extension).
Tips:
1. The RSI (4h) of the rejection series is also identical to December's.
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Notes:
Past trading plan:
Bearish drop?The Cable (GBP/USD) has reacted of the pivot which is an overlap resistance and could drop to the 1st support?
Pivot: 1.2493
1st Support: 1.2162
1st Resistance: 1.2770
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
GBP/USD - H1 Chart - Triangle Breakout (31.01.2025)The GBP/USD Pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent Formation of a Triangle Breakout Pattern. This suggests a shift in momentum towards the downside in the coming hours.
Possible Short Trade:
Entry: Consider Entering A Short Position around Trendline Of The Pattern.
Target Levels:
1st Support – 1.2342
2nd Support – 1.2295
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Falling towards overlap support?GBP/USD is falling towards the support level which is an overlap support that is slightly below the 38.2% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.2370
Why we like it:
There is an overlap support level that is slightly below the 38.2% Fibonacci retracement.
Stop loss: 1.2298
Why we like it:
There is a pullback support level that line sup with the 61.8% Fibonacci retracement.
Take profit: 1.2501
Why we like it:
There is a pullback resistance.
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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.
GBPUSD Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring GBPUSD for a buying opportunity around 1.23600 zone, GBPUSD was trading in a downtrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 1.23600 support and resistance area.
Trade safe, Joe.
Bearish drop?The Cable (GBP/USD) has reacted off the pivot and could drop to the 1st support.
Pivot: 1.2503
1st Support: 1.2372
1st Resistance: 1.2602
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
GBPUSD: Channel Down forming a top on the 1D MA50.GBPUSD is neutral on its 1D technical outlook (RSI = 54.465, MACD = -0.003, ADX = 25.916) hitting today its 1D MA50 for the first time after October 9th 2024. By doing so, it reached the top of the 4 month Channel Down and is technically the best level to short. Attention is required as the 1D RSI broke over its 4 month Rectangle, so it may be an early bullish breakout signal, but until we close a candle over the 1D MA50, the trend is bearish and this is the most cost-effective short. The last 0.5 Fibonacci rejection (December 6th) targeted the 1.618 Fibonacci extension. This time we will aim a little higher than that (TP = 1.1950) to match the % decline of the previous bearish waves.
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Bearish reversal?GBP/USD has reacted off the resistance level which is a pullback resistance that aligns with the 78.6% Fibonacci retracement and could drop from this level to our take profit.
Entry: 1.2477
Why we like it:
There is a pullback resistance level that lines up with the 78.6% Fibonacci retracement.
Stop loss: 1.2613
Why we like it:
There is an overlap resistance level.
Take profit: 1.2367
Why we like it:
There is an overlap support level that aligns with the 38.2% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
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.
Bearish reversal for the Cable?The price is reacting off the pivot which acts as an overlap resistance and could drop to the 1st support which is a pullback support.
Pivot: 1.2493
1st Support: 1.2241
1st Resistance: 1.2690
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
GBPUSD Is Nearing The Daily Trend!!Hey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.24000 zone, GBPUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.24000 support and resistance area.
Trade safe, Joe.
Bearish drop?The Cable (GBP/USD) has reacted off the pivot and could drop to the 1st support.
Pivot: 1.2368
1st Support: 1.2236
1st Resistance: 1.2492
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish drop off pullback resistance?GBP/USD has reacted off the resistance level which is a pullback resistance that aligns with the 138.2% Fibonacci extension and could drop from this level to our take profit.
Entry: 1.2372
Why we like it:
There is a pullback resistance level that lines up with the 138.2% Fibonacci extension.
Stop loss: 1.2474
Why we like it:
There is a pullback resistance level that aligns with the 78.6% Fibonacci retracement.
Take profit: 1.2239
Why we like it:
There is an overlap support level that lines up with the 61.8% Fibonacci retracement.
Enjoying your TradingView experience? Review us!
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.
Bearish reversal off 61.8% Fibonacci resistance?GBP/USD is rising towards the resistance level which is a pullback resistance that lines up with the 138.2% Fibonacci extension and could drop from this level to our take profit
Entry: 1.2372
Why we like it:
There is a pullback resistance level that aligns with the 138.2% Fibonacci extension.
Stop loss: 1.2474
Why we like it:
There is a pullback resistance level that lines up with the 78.6% Fibonacci retracement.
Take profit: 1.2239
Why we like it:
There is an overlap support level.
Enjoying your TradingView experience? Review us!
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.
Bullish rise off 50% Fibonacci support?The Cable (GBP/USD) has reacted off the pivot which is a pullback support and could rise to the 1st resistance.
Pivot: 1.2245
1st Support: 1.2162
1st Resistance: 1.2369
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Heading into 38.2% Fibonacci resistance?The Cable (GBP/USD) is rising towards the pivot which is a pullback resistance and could drop to the 1st support.
Pivot: 1.2364
1st Support: 1.2099
1st Resistance: 1.2531
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
GBPUSD Potential DownsidesHey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.22000 zone, GBPUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.22000 support and resistance area.
Trade safe, Joe.
Potential bullish reversal?The Cable (GBP/USD) is falling towards the pivot and could bounce to the 1st resistance.
Pivot: 1.2067
1st Support: 1.1867
1st Resistance: 1.2321
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
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, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
GBPUSD Ultimate buy signal at the bottom of the 2year Channel UpThe GBPUSD pair brutally reversed this week's early gains and the 1W candle will most likely close in red after making a new Low. The trend has been bearish since the September 23 2024 High and has been accelerated after the 1W MA50 (blue trend-line) and 1W MA200 (orange trend-line) rejection in early December.
This is however the ultimate long-term buy opportunity as the price is almost at the bottom of the 2-year Channel Up. On top of that, the 1W RSI is almost on the oversold barrier (30.00), a level intact since October 2022.
As long as the price is closing within the Channel Up, we see a rebound towards the 0.618 Fibonacci retracement level very likely, as it happened in November 2023. Our Target is 1.2950.
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GBPUSD to continue in the downward move?GBPUSD - Intraday
The primary trend remains bearish.
Bullish divergence is expected to support prices.
We look for a temporary move higher.
Preferred trade is to sell into rallies.
Bespoke resistance is located at 1.2350.
We look to Sell at 1.2350 (stop at 1.2380)
Our profit targets will be 1.2245 and 1.2225
Resistance: 1.2320 / 1.2360 / 1.2400
Support: 1.2240 / 1.2210 / 1.2180
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.