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Expectations and Analysis of GBP/USDForecasting GBP/USD, the British Pound against the US Dollar, based on performance on the daily chart below, indicates that it is still moving within an upward channel. Recent developments have been a response to signals from global central banks in their final meetings of 2023. However, the economic weakness in the UK continues to hinder a strong upward move of the British Pound against other currencies. Technically, the bullish side still needs to break through successive resistance levels at 1.2785 and 1.2850. To confirm control and ultimately advance towards the next psychological resistance level at 1.3000. On the other hand, returning to the support level at 1.2580 during the same timeframe will be crucial for the bearish side to gain control of the trend. Limited movements are expected today given the market conditions and the holiday season. Throughout this week, restricted movements are anticipated as investors are reluctant to exit the market during the holiday season, affecting liquidity.
by AdmamTrade
GBPUSD is expected to increase strongly todayThe GBP/USD pair soared after the collapses of Borstad and Bank of England last week. In its decision, the government chose to keep interest rates unchanged at between 5.25% and 5.50%. This was the bank's third meeting aimed at eliminating low interest rates. The biggest news in the report was the central bank's announcement that it would start cutting interest rates in 2024. This view was echoed by Jerome Powell, who emphasized that interest rate cuts could be considered if economic expansion continues to slow. The situation was particularly pronounced in London as Prime Minister Andrew Bailey was reluctant to raise expectations for rate cuts. In his statement, he stressed that interest rates would remain unchanged as raising them would be a major challenge. Many financial analysts agree that the BoE will start cutting interest rates in June or July as the UK economy slows. Information released on Wednesday showed the economy contracted in October.
Long
by NicoTradingMaster
GBPUSD has an upward trendGBP/USD fell on Tuesday, extending its drop for a second consecutive day after failing to clear a key ceiling near 1.2720, which corresponds to the 61.8% Fibonacci retracement of the July/October slump. Should losses deepen this week, it is important to watch how prices behave around the 1.2590-1.2570 support zone, bearing in mind that a breakdown could expose the 200-day simple moving average. Conversely, if cable manages to rebound from current levels, technical resistance is positioned at 1.2720. Cementing the underlying bullish outlook requires the pair to take out this hurdle on daily closing prices, with a decisive breakout likely to draw fresh buyers into the market and foster conditions conducive to a rally above 1.2800.
Long
by TinaTradingGold
GBPUSD 4H : Uptrend GBPUSD New forecast The GBP/USD pair faced additional negative pressure yesterday to break the 1.2406 level, and begins the day with further decline to reach the end point of the negative correction. Therefore ,we still prefer the upward trend and still upward scenario will be remain valid supported by moving average 50that is continue to support the price to rise up and our target will be 1.2447 and extend to 1.2508 , taking into account that stabilized under 1.2365 will put the price under sell pressure and postponed the bullish trend . The expect range trading for today it will be between the resistance line 1.2447 and support line 1.2365. Additionally ,Today News will affect the market . support line : 1.2365 , 1.2321 resistance line : 1.2447 , 1.2508 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Long
by Arazmajeed
11
GBP/USD Dips, Awaits UK CPI DataGBP/USD faced consecutive losses, trading around 1.2160 in Asian markets on Wednesday. Positive US economic data applied pressure. The pair retreated after reaching 1.2200, the 23.6% Fibonacci retracement level, the 50 and 100-day Simple Moving Averages (SMAs) confirming significant resistance. The 4-hour chart's Relative Strength Index (RSI) dropped to 40, indicating accumulating bearish momentum. Immediate support lies at 1.2130 (static level). Closing below it in the 4-hour timeframe could bring further selling pressure, possibly testing temporary support at 1,2100 (static, psychological level) before targeting 1,2050, the recent downtrend's endpoint. If GBP/USD rises above 1,2200 and confirms it as support, it could aim higher towards 1,2250 (static) and 1,2300 (38.2% Fibonacci retracement level). The pair reversed its trend after breaching 1,2200 on Monday, dropping to the 1.2150 region on Tuesday. Short-term technical outlook indicates bearish momentum and potential additional losses if the 1,2130 support fails. US Retail Sales data for September is on the economic horizon, with a negative surprise possibly impacting the USD. However, GBP/USD might stand firm unless a significant, positive market sentiment change occurs. Stay tuned for updates on this evolving situation.
by Gwen_Humuna
1
GBPUSD after falling will increase againGBPUSD was last trading over 0.2% higher at $1.2202. Investors also digested producer and consumer prices data out of China on Friday that showed deflationary pressures were slightly stronger than expected. "What we've got is a fairly weak growth story (from China), and that's weighing on the price numbers," said Rob Carnell, regional head of research in the Asia-Pacific region at ING. He added that the government could feel pressure to offer further support to the economy, albeit limited. Bloomberg News reported earlier in the week that China is considering raising its budget deficit for 2023 as the government prepares to unleash a new round of stimulus to help the economy meet the official growth target. China's trade data for September, meanwhile, showed exports and imports both shrank at a slower pace for a second month, providing some encouragement to authorities.
Long
by FalCol_TradingMaster
GBPUSD 4H : support further rise GBPUSD New forecast The price perfectly fulfills my last idea and price reached to our first target + 80 pip . The British pound against the dollar pair succeeded in touching our expected target at 1.2310, and attempts are being made to penetrate it now, to support the chances of extending the bullish corrective wave and heading towards achieving additional gains up to 1.2370. Therefore, we will continue to favor the upward trend for the coming period, keeping in mind that failure to breach 1.2310 and rebound downwards to break 1.2247 will stop the expected rise and put pressure on the price to return to the main bearish path again. The expect range trading for today it will be between the resistance line 1.2310 and support line 1.2247. Additionally ,Today News will affect the market . support line : 1.2267 , 1.2247 resistance line : 1.2310 , 1.2370 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Long
by Arazmajeed
GBPUSD Long idea for the coming weeksLooking on the charts, im going to aim for a long position on GBPUSD. On the 4hour chart, previous wicks rejecting more downside as it looks. Also we are in a nice orderblock area and resistance area Going for a buy limit around 1.25785 Stoploss: 1.25451 (just below the last longest 4h previous wick) TP1: 1.27089 TP2: 1.28650 TP3: 1.29090 If it would fall below that 4h long wick(which is touching the bottom of the purple zone) then im not interested anymore in a long position.
Long
by ProdemoNL