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Gbplong

Short Analysis of the GBP/USD Chart: Short Analysis of the GBP/USD Chart: - *Current Price*: 1.22722 USD per GBP. - *Resistance Level*: Around 1.23500 USD, marked as a rejection zone. - *Support Trendline*: An upward trendline connecting the lows from January 10 to January 21. - *Potential Movement*: Indication of a downward movement from the rejection zone, suggesting a bearish outlook. target based on the provided GBP/USD chart analysis: Bearish Scenario: - *Initial Target*: If the price rejects the resistance level around 1.23500 USD and confirms a downward movement, the initial target would be around 1.22000 USD. - *Extended Target*: If the bearish trend continues, a more extended target could be around 1.21000 USD, close to the next significant support level.
Short
by TRADE_CENTER_1
gbpusdGBP/USD is mired in near-term technical consolidation near the 1.2200 handle as key inflation metrics from the US and UK growth figures loom large through the midweek sessions. From a technical perspective, last week's breakdown through the 1.2350 horizontal support was seen as a key trigger for bearish traders. A subsequent fall and acceptance below the 1.2200 mark supports prospects for deeper losses. That said, the Relative Strength Index (RSI) on the daily chart has dropped below the 30 mark. This makes it prudent to wait for some consolidation or a modest bounce before positioning for an extension over a three-month-old downtrend. In the meantime, the 1.2200 mark now seems to act as an immediate hurdle. Some follow-through buying beyond the Asian session top, around the 1.2210 area, could trigger a short-covering move and lift the GBP/USD pair beyond the 1.2245-1.2250 intermediate hurdle, towards reclaiming the 1.2300 round figure. The latter should act as a key pivotal point, which if cleared would negate the negative bias and shift the near-term bias in favor of bullish traders.
Long
by Eliana74
LONG GBP/GPY!Here is my current idea on GBP JPY for this week/month. Price has already bounced off the .618 level and unless I see new market structure being formed on the MTF (4HR etc) i will continue to believe price will reach the .705 fib level. If not I will update the chart and find a long position. As seen from the chart, I have 3 targets in place for this bullish idea, and I will need to see a close above 194.2 to validate it. Inflation rate news also coming on the 15th which could explain the bleeding of all GBP pairs last week and we are already near 'priced in' levels. But I will be cautious and leave an update on my thought process when it happens. Thanks if you took the time to read and good luck.
Long
by JJRoyalist
3
GBPAUD to the moon?Taking a long position on GBPAUD, main reasons being: - BoE holding interest rates for now and less rate cuts are expected next year, could drive more institutions to hold GBP and increase it's value - AUD are trade partners with China who are experiencing significant economic instability - COT traders are 57% long on GBP (+2.14% compared to last week) - COT traders are 52% long on AUD, but are adding more short positions (-4.53% change in net long positions compared to last week) - Retail traders are 93% short on GBPAUD (I find that retail is usually wrong, so this is a positive signal for GBPAUD longs in my book) This trade is more based on Australia's weakness rather than Britain's strength. I was also thinking of shorting AUDJPY (see previous trade idea) or AUDUSD. I couldn't get in a position that I liked on AUDJPY (yet) and I'm already in a short position on EURUSD, so I want to diversify a bit away from the US Dollar. The reason I'm entering here is because it is filling an imbalance candle, and it's also at the 0.682 mark on the Fibonacci retracement tool. If I get taken out I don't mind, there may be better entries on GBPAUD available if that happens, or there may be an opportunity to short AUDJPY instead, which I prefer the fundamentals of. Don't take this as investment advice, I'm just sharing what I'm doing. Please don't follow me blindly, create your own strategy and ideas.
Long
by ciantrades
3
GBPUSD Bullish trade Idea after see some sold breakout confirmatGBPUSD bullish trade idea after seeing some sold breakout confirmations on H1. Buy Price LEVEL: 1. 2597 SL: 1.2550 TP: 1.27141 After the FOMC meeting yesterday night, the price dropped to 1.25627 with high volume when the Fed rate of 4.50 will boost the USD. The GBP index is bullish; just find the trade with a tight stop loss. *Note: The market is highly volitile in December; just place a smaller number of trades.
Long
by Bloom_Forex_Official
Gbpusd long Target GBP/USD churned chart paper near the 1.2600 handle, finding thin gains through the day’s market window but failing to recapture the technical level as market flows do little to bolster the Pound Sterling GBP/USD remains hobbled on the south side of the 1.2600 handle, churning bids north of 1.2500 as the pair finds some breathing room after another leg lower from early November’s choppy plateau just below 1.3000. Cable reached a six-month low of 1.2487 late last week, clipping into a 7% decline top-to-bottom from September’s peaks at 1.3434. Confirm signal gbpusd
Long
by JohnHarry_7
1
GBPUSD forming a bottom?GBPUSD - 24h expiry Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. Price action looks to be forming a bottom. Posted a Double Bottom formation. Preferred trade is to buy on dips. Bespoke support is located at 1.2865. We look to Buy at 1.2865 (stop at 1.2825) Our profit targets will be 1.2965 and 1.2985 Resistance: 1.3020 / 1.3060 / 1.3100 Support: 1.2860 / 1.2830 / 1.2800 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.
Long
by OANDA
GBP/CHF - Bullish Flag Breakout & Strong UptrendOverview: The GBP/CHF pair has not only been in a strong uptrend but has also formed and broken out of a bullish flag pattern, further signaling the continuation of upward momentum. The breakout above the 1.2300 resistance level suggests a potential for further gains. Technical Analysis: Bullish Flag: A clear bullish flag pattern has formed, with a breakout confirming further upward movement. Next Resistance Levels: 1.2550 and 1.2600 RSI: Currently at 65, indicating there’s still room for more upside. Fundamental Analysis: GBP Strength: Strong economic data from the UK, including better-than-expected GDP growth and improved employment figures, support the pound’s rise. CHF Weakness: The Swiss National Bank’s (SNB) dovish stance continues to weaken the franc, providing a favorable environment for the pound’s strength. Trading Strategy: Targeting 1.14036 ,1.15070 , 1.16159 Stop Loss: Place a stop below 1.1120 to protect against downside risk.
Long
by mohammad_alavi
GBPUSD Rises Above 1.33In European trading hours, the Pound Sterling endeavors to establish a firm position above 1.3300 against the US Dollar. The short - term outlook for the GBP/USD pair remains strong as it stays above the 20 - day Exponential Moving Average (EMA), which is close to 1.3150. Previously, the GBP/USD strengthened following its recovery from a corrective movement towards the trendline drawn from the December 28, 2023, high of 1.2828. After breaking out on August 21, it witnessed a sharp increase from that point. The 14 - day Relative Strength Index (RSI) moves above 60.00, indicating an active bullish impetus. Going upwards , the GBP/USD (Cable) will encounter resistance near the psychological level of 1.3500. On the downward side, the psychological level of 1.3000 becomes crucial support. MKTNews reports that, BANK OF ENGLAND'S MANN: PREFERABLE TO STAY RESTRICTIVE LONGER, CAN REDUCE RATES AGGRESSIVELY ONCE INFLATION RISK IS MANAGED BOE'S MANN: I DID CONSIDER VOTING TO REDUCE RATES IN AUG, BUT AIMED TO AVOID "BOOGIE-DANCE" WITH POLICY RATES BOE'S MANN: I HOLD CAUTIOUS OUTLOOK ON INITIATING RATE CUTS
Long
by Tekapo-Invest