GBPUSD and EURUSD top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPUSD
Levels discussed during livestream 12th November12th November
DXY: Could consolidate/retrace slightly, but for continuation higher to 106.10, beyond that, could retest resistance of 106.45
NZDUSD: Sell 0.5950 SL 20 TP 40
AUDUSD: Sell 0.65 SL 25 TP 100
GBPUSD: Sell 1.2785 SL 30 TP 100
EURUSD: Sell 1.0590 SL 40 TP 140
USDJPY: Buy 154.90 SL 35 TP 110
USDCHF: Buy 0.8845 SL 30 TP 75
USDCAD: Buy 1.40 SL 40 TP 140
Gold: Breaking 2600, below 2585 could trade down to 2570 and 2550
XAU/USD : More Fall Ahead ? (READ THE CAPTION)We can observe that after reaching $2699 again, gold faced selling pressure and has corrected down to $2659 so far. Considering that both the New York and Canadian markets are closed today, we are likely to see the next significant move tomorrow.
Considering the current price trajectory, we need to see how gold reacts if it declines further to the $2649 level. If this level does not hold as support, there is a high likelihood that gold will first hit the $2643 target and then continue dropping to $2630 and $2616.
THE MAIN IDEA :
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GBPUSD is in the Selling Direction after breaking suPportHello Traders
In This Chart GBPUSD HOURLY Forex Forecast By FOREX PLANET
today GBPUSD analysis 👆
🟢This Chart includes_ (GBPUSD market update)
🟢What is The Next Opportunity on GBPUSD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
The GBP/USD Slump:Factors Behind the Pound's Recent DepreciationThe GBP/USD currency pair has experienced a decline, currently hovering around 1.2890 as this article is being composed during the European market opening on Monday. The US Dollar (USD) is gaining strength following Donald Trump’s electoral victory, impacting the major currency pair as traders anticipate that inflationary pressures will prevent the Federal Reserve (Fed) from making significant interest rate cuts.
In contrast, the Bank of England (BoE) has emphasized the necessity of maintaining a gradual and cautious approach to monetary policy adjustments, suggesting that a restrictive stance will need to persist for an extended period. The BoE's less dovish tone may help mitigate the Pound's losses in the short term.
The Pound has notably depreciated against the increasingly robust USD, which continues to benefit from the optimistic market reaction to the Republican win. According to the Stochastic indicator, the DXY is recovering from oversold conditions, indicating potential further gains for the Dollar.
Moreover, recent data from the Commitment of Traders (COT) report indicates a rise in long positions among retail investors, while institutional traders—referred to as "smart money"—have remained relatively stable in their positions, maintaining levels below 50% in net positions.
Our analysis has identified a demand zone situated between 1.2800 and approximately 1.2700, which may serve as a key area of support for the Pound.
In conclusion, the immediate outlook for the British Pound and other currencies in relation to the DXY appears bearish, influenced by the prevailing market conditions and geopolitical factors at play.
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GBP/USD Analysis on the 15-Minute ChartIn this analysis of GBP/USD, we’ve identified a key resistance zone highlighted in pink. This zone has acted as a strong barrier to price advances in the past, where sellers previously entered the market and pushed the price downward.
Currently, the price is below this resistance level, and while it’s not approaching this zone at the moment, our strategy centers on what might happen if the price revisits this area. Based on historical price action, there is a high likelihood that sellers could step in again at this resistance, leading to a potential reversal and creating a shorting opportunity.
Trading Plan:
Observation Point: Monitor the price as it fluctuates within its current range. If it eventually rises back to the pink resistance zone, we’ll look for signs of rejection, such as a bearish candlestick pattern or reduced buying momentum, as confirmation to enter a short position.
Stop Loss: Place a stop loss slightly above the resistance zone to minimize risk if the price breaks through unexpectedly.
Profit Target: If the price reverses from this resistance as anticipated, the initial target will be the next support level, where buyer interest might increase.
By planning ahead, this approach prepares us to react efficiently if the price reaches the resistance, allowing us to capitalize on potential market behavior based on previous patterns.
GBPUSG M15 | Bullish BreakoutBased on the M15 chart analysis, we can see that the price is rising toward buy Stop entry at 1.2846
Our take profit will be at 1.2872, an overlap resistance.
The stop loss will be placed at 1.2834, which is a swing low support level.
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Weekly FOREX Forecast: BUY USD vs EUR GBP AUD NZD CAD CHf JPYThis is an outlook for the week of Nov 4 - 8th.
In this video, we will analyze the following FX markets: EUR, GBP, AUD, NZD, CAD, CHF and JPY.
The USD is strong and showing no signs of weakness. This video analyses which of the major pairs are the best markets to look for the best setups for the week ahead.
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GU imminent buys to sell idea?My analysis for GBP/USD (GU) is still bearish at the moment, as the DXY (Dollar Index) has been very bullish. Additionally, GU has broken structure to the downside, and there's a clean supply zone that aligns with this bearish trend. However, as price is currently in my demand zone, I will be looking for confirmation to buy temporarily for a retracement.
If price does not respect the 1-hour demand zone, I expect it to accumulate slowly, approaching the demand zone below. In that case, I’ll wait for the price to reach this lower zone before looking to buy. If this scenario doesn't play out, I will wait for the price to rally up and then look for short opportunities to sell again.
Confluences for a GU Long:
- The market has been very bearish, and a pullback is likely.
- There is a lot of liquidity to the upside, including Asia session highs and trendline liquidity.
- A clean demand zone lies below a liquidity level, offering potential buy opportunities.
- The DXY has left imbalances below due to recent news, suggesting the dollar could decline temporarily.
Note: If price rallies up and breaks the current high, I would expect an upward continuation, as there's significant liquidity being built up above for GBP/USD.
Wishing you a successful trading week ahead!
GBP/USD falls ahead of UK employment reportThe British pound is lower on Monday. In the North American session, GBP/USD is trading at 1.2870, down 0.33% on the day. The pound is coming of a sixth straight losing week, declining 3.5% during that time. It’s a quiet day on the data calendar, with no US events and only one minor UK release.
The UK releases the employment report for the three months to September on Tuesday. Job growth soared by 373 thousand in the prior report, crushing the market estimate of 250 thousand. The labor market is expected to reverse directions, with a market estimate of -50 thousand. As well, the unemployment rate is projected to inch up to 4.1%, up from 4%.
Wage growth excluding bonuses is expected to fall to 4.7% in the three months to September, down from 4.9% in the previous report. Wage growth has been easing but is still high and BoE policymakers are concerned about the possibility of a wage-price spiral. The strong growth in wages has contributed to high inflation in the services sector.
The BoE holds its final policy meeting in December and Tuesday’s jobs report could impact market expectations. The BoE reduced rates by 25 basis points last week to 4.75% but with inflation falling to 1.7% in September, more rate cuts are likely on the way.
A host of Federal Reserve members will deliver remarks on Tuesday and investors will be looking for clues about future rate moves. The Fed lowered rates by 25 basis points last week, a move that was well-telegraphed in advance. What will the Fed do at the December meeting? That is much less clear, as the markets have priced in a pause at 23%, a 25-basis cut at 2.9%, and a 50-basis cut at 22%, according to the CME’s FedWatch.
GBP/USD is testing support at 1.2870. Below, there is support at 1.2822
There is resistance at 1.2933 and 1.2981
GBPUSD Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPUSD Potential DownsidesHey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.29400 zone, GBPUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.29400 support and resistance area.
Trade safe, Joe.
GBP/USD Chart Analysis: Bears Apply Pressure to Key SupportGBP/USD Chart Analysis: Bears Apply Pressure to Key Support
According to ICE data, the U.S. Dollar Index futures have reached highs last seen in early July 2024. The dollar’s strength is attributed, in part, to anticipated economic stimulus measures outlined by the newly elected President Donald Trump during his campaign.
This has put pressure on other currencies paired with the dollar. Currently, the British pound is trading near 1.28400, close to a three-month low.
Today’s technical analysis of the 4-hour GBP/USD chart reveals:
→ long-term price fluctuations have shaped an upward channel since May;
→ the pair is near a key support level at the lower boundary of this channel;
→ a downtrend channel (in red) has formed since early October, highlighting recent bearish control; → the ATR indicator is at an annual high, indicating heightened volatility.
Key economic events are on the horizon:
→ UK labour market data on Tuesday at 10:00 (GMT+3),
→ U.S. CPI figures on Wednesday at 16:30 (GMT+3),
→ speeches by the Fed and Bank of England heads on Thursday.
With these events approaching, traders may anticipate continued wide fluctuations around the lower boundary of the upward channel.
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