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GBPUSD

GBPUSD Long UpdateGBPUSD looks to be starting a small reversal to return to the extreme of the leg on the daily chart. I want to see the 4h LH broken before price moves back down to our entry levels breaking the double bottom that's almost formed on the hourly. Trading opportunities will be: Long trades targeting the 2 1h POI zones above 4h LH (these are higher risk trades). Short trades after the 4h LH has been broken to the long trade entry zone. 2 long entries. Long entries are 10:1 and 14:1 making this a very high reward trade opportunity. Follow for more updates.
Long
by DrRoach2
GBPUSD Long UpdateGBPUSD looks to be starting a small reversal to return to the extreme of the leg on the daily chart. I want to see the 4h LH broken before price moves back down to our entry levels breaking the double bottom that's almost formed on the hourly. Trading opportunities will be: Long trades targeting the 2 1h POI zones above 4h LH (these are higher risk trades). Short trades after the 4h LH has been broken to the long trade entry zone. 2 long entries. Long entries are 10:1 and 14:1 making this a very high reward trade opportunity. Follow for more updates.
Long
by DrRoach2
2
GBPUSD: Two Possible Buying Opportunity! Are you buying GU?Dear colleagues, I would like to share my analysis of the recent price action in the GBPUSD currency pair. As you may be aware, the pair was rejected at the 1.34 level after setting a new yearly high. This move lower was largely due to a sharp rally in the US Dollar Index (DXY), which was in turn driven by stronger-than-expected Non-Farm Payroll (NFP) data. The NFP report showed that the US economy added a record 254k jobs last month, far exceeding market expectations. As a result of this data, the GBPUSD pair is now exhibiting strong bearish momentum and is facing significant selling pressure. However, I believe that the current market conditions may present a buying opportunity. While the initial entry point may not be ideal, there is a second entry point that offers a safer and more secure opportunity to enter a long position. In my opinion, the GBPUSD pair has the potential to rally back up to the 1.34 level as the DXY is unlikely to maintain its bullish momentum. This assessment is based on both technical and fundamental factors, which do not indicate further upside potential for the US Dollar. I encourage you to consider this analysis and share your thoughts in the comments section below. Here is our previous charts ON GU And Here is our view point on DXY/USD: While last Friday's data may have caused some temporary setbacks, I assure you that the majority of currency pairs are poised for recovery. Your continued support and dedication to your trading endeavors are greatly appreciated. May you all thrive and achieve success in the week ahead. Team Setupsfx_
Long
by Setupsfx_
28
XAU/USD : The Next Target is $2743.7 , Why ? (READ THE CAPTION)By analyzing the gold chart in the 15-minute timeframe, we can see that the price is currently trading around the $2734 level. At the moment, the $2728 to $2730 range has become a key support zone for gold. Given that a liquidity pool has formed around the $2738.5 level and another one above $2740, I expect the price to move toward higher targets, maintaining the current support. Soon, we should see gold rise to the main target of $2743.7! Keep a close eye on how the price reacts to these levels. Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
OANDA:XAUUSDLong
by ArmanShabanTrading
74
Bearish drop?GBP/USD is rising towards the resistance level which is a pullback resistance that lines up with the 23.6% Fibonacci retracement and could drop from this level to our take profit. Entry: 1.2943 Why we like it: There is a pullback resistance level that lines up with the 23.6% Fibonacci retracement. Stop loss: 1.2999 Why we like it: There is a pullback resistance level that lines up with the 50% Fibonacci retracement. Take profit: 1.2885 Why we like it: There is a pullback 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.
Short
by VantageMarkets
Fundamental Market Analysis for October 24, 2024 GBPUSDEvents to pay attention to today: 11:30 GMT+3. GBP - PMI Composite 22:45 GMT+3. GBP - BOE Governor Andrew Bailey Speaks GBPUSD: On Wednesday, the GBP/USD exchange rate fell by an additional 0.5%, reaching a new ten-week low and moving closer to 1.29000. The UK and US will release Purchasing Managers' Index (PMI) data on Thursday, with updates provided on a rolling basis. Investors will also be monitoring speeches from central bankers at both the Bank of England (BoE) and the Federal Reserve (Fed). The Pound declined further on Wednesday, with markets showing weakness due to a broad US Dollar recovery and investors awaiting an overall decline in the UK PMI for October. The median market forecast is for a slight downturn in UK activity figures, with the services PMI for October expected to fall to 52.2 from 52.4 in the previous month. In the US, the median market forecast is for a mixed outcome in October's PMI reading. The manufacturing PMI component is expected to rise to 47.5 from 47.3, while the services PMI component is expected to fall slightly to 55.0 from 55.2. Trading recommendation: Trading predominantly Sell orders from the current price level.
Short
by Fresh-Forexcast2004
GBPUSD H4 | Bullish RiseBased on the H4 chart analysis, we can see that the price has just bounced off our buy entry at 1.2907, which is overlap support close to 161.8% Fibonacci extension Our take profit will be at 1.2955, which is a pullback resistance level. The stop loss will be placed at 1.2871, which is a pullback support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
GBPUSD I Swing long opportunity with upcoming fundamentalsWelcome back! Let me know your thoughts in the comments! ** GBPUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
Long
by BKTradingAcademy
GBP/USD: Pound Faces Key Test Ahead BoE Governor Bailey’s SpeechToday, all eyes will be on Bank of England (BoE) Governor Andrew Bailey, who is set to speak at an event organized by the Institute of International Finance later in the day. Bailey’s remarks could prove pivotal for the Pound Sterling (GBP), especially as the market remains sensitive to signals regarding the BoE’s stance on monetary policy. Potential Impact of Bailey’s Speech If Bailey adopts a dovish tone by highlighting ongoing progress in reducing inflation and does not counter market expectations for further rate cuts this year, the Pound could face immediate selling pressure. Here’s what to watch for: Dovish Remarks: If Bailey acknowledges progress in disinflation and hints at more accommodative monetary policy, it could reinforce expectations of further rate cuts, leading to a drop in GBP. Hawkish Pushback: On the other hand, if Bailey suggests that the BoE is still vigilant about inflation risks and signals a less aggressive approach toward rate cuts, the Pound could find some support. Technical Analysis: GBP/USD Eyes Lower Demand Zones The GBP/USD pair remains under selling pressure, with our bias still tilted to the downside, consistent with our previous forecast. From a technical standpoint, the chart now features an additional mid-level demand area, where the Pound might find temporary support. Here’s how the setup is shaping up: Current Demand Zones: We have added an intermediate demand area in anticipation of a possible short-term reaction in the Pound. This zone could act as a buffer, offering a potential retracement opportunity before a possible continuation of the bearish trend. COT Report Insights: According to the latest Commitment of Traders (COT) report, retail traders remain predominantly bearish on the Pound, while institutional investors, often referred to as “smart money,” are beginning to accumulate long positions. This divergence suggests that while the broader sentiment remains bearish, there is emerging buying interest from major players, hinting at a potential reversal. DXY Overbought Condition: The US Dollar Index (DXY) remains in overbought territory, suggesting that its bullish momentum could be nearing exhaustion. This aligns with our outlook for a possible GBP retracement if the DXY experiences a pullback. Bearish Bias Maintained: Despite the potential for a short-term bounce, our overall bias remains bearish for GBP/USD. We expect the pair to continue sliding toward the lower demand area, where we will look for a more defined reversal pattern to consider a long entry. Trading Strategy: Waiting for a Long Entry Setup Given the current scenario, we maintain a bearish outlook for GBP/USD but will be closely watching the price action near the identified demand areas. Here’s our strategy: Current Position: No active positions, but we remain cautious about potential short-term volatility surrounding Bailey’s speech. Entry Plan: Should the price reach the lower demand area, we will look for a bullish reversal pattern to confirm a possible long entry. Stop Loss: Set a tight stop loss below the demand area to manage risk effectively. Target: Aim for a near-term rebound toward the intermediate resistance levels if a bullish setup materializes. Final Thoughts: Potential for Short-Term Volatility With Bailey’s speech potentially influencing the short-term direction of GBP, traders should be prepared for volatility. If the BoE Governor strikes a dovish tone, it could fuel further selling pressure on the Pound, aligning with our bearish bias. However, the overbought condition of the DXY and the building long positions by institutional traders suggest that a rebound could be on the horizon, particularly near the lower demand area. As always, it is crucial to exercise patience and wait for clear signals before entering trades, especially in a market driven by central bank communication and evolving sentiment. Stay alert for any surprises from Bailey’s speech and be ready to adapt to changing market dynamics. ✅ Please share your thoughts about GBP/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
by FOREXN1
1