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GBP

Buy GBPCAD Triangle PatternFactors Strengthening GBP: Hawkish BoE: Recent hawkish comments from Bank of England (BoE) officials regarding potential interest rate hikes to combat inflation have bolstered the Pound. This has increased its attractiveness compared to the Canadian Dollar. Optimism on UK economy: Despite ongoing Brexit negotiations, positive economic data releases like higher-than-expected GDP growth and retail sales figures paint a picture of a resilient UK economy. This fuels investor confidence in the Pound. Price breaks the Pattern now, its good chance to buy now. Thank you.
Long
by KABHI_FOREX_TRADING
2
GBPAUD:Bearish stocks and potential AUD weaknessHey Traders, in tomorrow's trading session we are monitoring GBPAUD for a buying opportunity around 1.89900 zone, GBPAUD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.89900 zone. Adding a fundamental layer to our analysis, the recent Consumer Price Index (CPI) figures could play a pivotal role in the market dynamics. Notably, the strong CPI could lead to a strengthening of the US dollar. While a robust dollar might be viewed positively in some contexts, in the realm of stocks, it could have adverse effects. A strong dollar is generally perceived as negative for stocks, as it can impact corporate profits, leading to a potential bearish sentiment in equities. Traders should be vigilant about these interconnected factors, understanding the broader market dynamics and the implications of fundamental releases on correlated assets. As always, trade safe and stay informed about the evolving market conditions.
Long
by JoeChampion
Remember I mentioned about GbpAud last week, now what?Hello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Last week I was mentioning that I was looking at GbpAud since its at a key area of resistance...I mentioned in my video to be open to it breaking up as well..So it did, so far, pullbacks should be to enter on long. Do check out my stream video for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* 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. *********************************************************************
Long
by Shadowing_The_Big_Boys
GBPUSD → A technically weak dollar will strengthen the pair FX:GBPUSD continues to form consolidation in the ascending triangle format. Bulls are gaining strength and trying to break through the resistance zone 1.2780 - 1.2800. The currency pair is in a global uptrend and according to a number of prerequisites this direction may continue. If we pay attention to the TVC:DXY , we can see that the index does not react to bullish news at all and apparently due to the overheated condition the index is ready to decline. In this case, this maneuver will be favorable for the pound sterling, which can strengthen the pair. On the chart we see an ascending channel and a pre-failure consolidation in the format of an ascending triangle. The resistance 1.2780 - 1.2800 plays a key role. Breakout of this zone and price consolidation above the level will form a bullish potential, which will confirm the breakout of the level. Support levels: 1.2715, 1.2615 Resistance levels: 1.2780, 1.2888 I expect a breakout of resistance under the pressure of buyers on the limit resistance zone. Regards R. Linda!
Long
by RLinda
7
XAUUSD BuyBuying Gold due to the failed close below 2016. I predicted 2012 last week, but to see this I'd anticipate good confirmation. This has not happened yet, CPI has dropped gold over 150 pips, now im expecting a clear push back to 2025+ area. Ive entered at 2016.54, targeting 2029.54 and my stop is set at 2013.54. Gives me a 1:4.33 R/R 1%Risk Entered at the low end of a 4Hr OB, which I'd like price to close above. Not to much more analysis here, kept it simple, still using @nephew_sam_ FVG indictor so testing this on my funded account.
OANDA:XAUUSDLong
by xEthan
BUY GBPUSD H4 ChannelCentral Bank Meetings: Bank of England Monetary Policy Committee (MPC): This takes center stage on Wednesday, January 10th. A 50 basis point (bps) rate hike is widely anticipated, but the market will be looking for any hints about the future trajectory of rates. A more aggressive tightening path could strengthen the pound against the dollar. Economic Data: US Non-Farm Payrolls (NFP): Released on Friday, January 6th, a strong jobs number could strengthen the dollar and weigh on GBP/USD. Conversely, a weak reading could have the opposite effect. 400,000 new jobs are expected, which would be positive for the US economy. UK GDP: The Gross Domestic Product (GDP) data for December on January 10th. Consistent economic growth could support the pound, while a slowdown could weaken it. The market expects a 0.3% month-over-month increase. Weekly Forecast (Jan 8 to Jan 12) : GBP/USD - H4 Chart - Channel Formation Always wait for strong Conformation in Short term for entry. 👈👈👈 If you found my post helpful or informative, could you please leave a comment 💬🖌 and hitting that like button💚💚 “Markets are never wrong, but opinions often are.”-Jesse Livermore Good Luck💛💛
Long
by KABHI_FOREX_TRADING
22
GBPUSD Breakout and Potential Retrace with hot CPI numbersHey Traders, in today's trading session, our focus centers on GBPUSD, specifically eyeing a selling opportunity around the 1.27250 zone. The pair, having broken out of its recent uptrend, now resides in a correction phase, drawing nearer to the retrace area at the crucial 1.27250 support and resistance zone. Adding depth to our analysis, the recent release of the Consumer Price Index (CPI) data is paramount. This economic indicator, gauging the average change in prices over time, plays a pivotal role in shaping market sentiment. The unexpected strength in the CPI figures can have profound implications for the US dollar. The market was anticipating a softer print, and the surprise deviation could lead to a reassessment of the dollar's value. Understanding the dynamics behind CPI is essential. A robust CPI often signals potential inflationary pressures, prompting central banks, including the Federal Reserve, to consider adjusting monetary policy. The market's initial expectation of a milder CPI could have factored into traders' sentiment, but the unexpected strength might prompt a reevaluation. The prospect of a more hawkish stance from the Fed, aiming to curb inflation, could contribute to increased demand for the US dollar. It's crucial for traders to monitor these macroeconomic indicators closely, recognizing their influence on currency movements. The nuanced interplay between economic data, central bank decisions, and market expectations creates a complex tapestry that savvy traders navigate. In times of data surprises, flexibility and adaptability become key attributes in adjusting trading strategies. As we navigate the markets, it's imperative to exercise caution and employ robust risk management strategies. The volatility triggered by unexpected economic data releases can lead to rapid market movements. Establishing clear risk parameters, setting stop-loss orders, and diversifying portfolios are essential practices in mitigating potential downsides. In conclusion, GBPUSD's current correction phase provides an opportune moment for traders to assess the evolving market dynamics. The unexpected strength in CPI data adds an intriguing layer to the equation, emphasizing the importance of staying informed and agile in response to market shifts. Trade wisely, Joe
Short
by JoeChampion
GJ Possible movement for next week openingLooking to short GJ next week, although a break of this 184.100 zone could push GJ to longs targeting 188.60 area (8/1/24) Zoomed out onto 4hr HTF, from here I am looking to enter within that OB thats present, targeting a FVG around 180.00 Using a new indicator by @nephew_sam_ so looking forward to 2024 using this. Upon technical analysis, I can see the finish of 2023 bought the Pound to close around 179.54. From here we have seen the slight push to the now current 183.952 area. This has been a nice steady push for GJ, which makes me think this continuation could continue. Having said this, there hasn't been a major consolidation of price or even a pullback. From this i'd expect a slight pullback tonight (Sunday) or even through (London) Tomorrow or in due course. My guesses are that price will continue for the short while, but a pullback is expected, and this is what I'm targeting. Day traders this could be a good opportunity, Swing traders I would probably focus on the longer targets of buying. First documented trade of 2024 so lets see how this runs.
Short
by xEthan
2
HelenP. I British Pound can start moving down to trend lineHi folks today I'm prepared for you British Pound analytics. If we look at the chart, we can see how the price some days ago traded near the resistance zone, which coincided with the resistance level and even made a fake breakout, after which EURGBP rose to the trend line. Then price rebounded and made a strong impulse down until below the support zone, thereby breaking the 0.8700 resistance and 0.8590 support levels. After this movement, GBP a few time traded near the support zone and later made impulse up to the trend line, breaking the 0.8590 support level again. A short time later, the price broke the trend line and reached the resistance level, after which GBP rebounded and declined to the support level, which coincided with the trend line. Recently, the price bounced from this level, and at the moment, the British Pound continues to trade near the support level. For my mind, the price can rise a little more, and then it will rebound down to the trend line, thereby breaking support level. For this case, I set my target at the 0.8560 level, which coincided with the trend line. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
1