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Gbpusd_forecast

Turmoil in US stock indexes will lead to declines.The focus is on the impending publication of the UK's third quarter GDP data, which is expected to influence the Bank of England's (BOE) monetary policy in December. Prime Minister Swati Dhingra is considering the possibility of cutting interest rates if growth numbers do not meet expectations. UK economic activity was weighed down in the third quarter by factors including a fall in consumer spending, a slump in the services PMI, weak property demand and a decline in employment. This situation has kept the GBP/USD pair stable around 1.2300 despite the drop in US Treasury yields after three consecutive days of negative closes. On the same day, market attention also turned to potential USD influencers. These include new jobless claims data released weekly by the U.S. Department of Labor and the tone of Federal Reserve Chairman Jerome Powell's speech to the IMF board. Powell's dovish tone could have a significant impact on the USD, leading to a weaker USD and supporting a GBP/USD recovery. In addition to these trends, the crypto market trends at the end of the year are bullish. This trend is reinforced by a sharp decline in his VIX index (HM:VIX), indicating rising risk sentiment as the market awaits his Fed's expected monetary policy decisions. . On Wednesday, November 8, 2023, GBP/USD recorded its third consecutive negative closing price. The pair is stable near 1.2300, a level that could attract technical buyers if confirmed as support. Despite downward pressure on the USD from falling US bond yields, market caution is preventing a full recovery in GBP/USD.
Short
by AstronautPioneer
GBPUSD 4H : Wait for breach the support zone GBPUSD New forecast The pound sterling pair against the dollar is trading with noticeable negativity as it approaches retesting the resistance area, which constitutes important support at 1.2312, and the price needs to consolidate below this level for the bearish scenario to remain effective, whose next target is at 1.2270 extend to 1.2192. Therefore, we will continue to favor the downward trend, provided it remains below level 1.2312 for the coming period, taking into account that breaking 1.2321 will stop the expected decline and put pressure on the price to rise again. The expect range trading for today it will be between the resistance line 1.2365 and support line 1.2270. Additionally ,Today News will affect the market . support line : 1.2312 , 1.2270 resistance line : 1.2321 , 1.2365 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Short
by Arazmajeed
5
GBPUSD Trade Plan Timeframe: 1HGBPUSD Trade Plan Timeframe: 1H #Forex #GBPUSD #TechnicalAnalysis #CryptoSignal #TradingOpportunity #Divergence #TradingSignal #TradingwithBelieve Hey traders! 👋 Let's dive into a potential trading opportunity on the GBPUSD pair using technical analysis. 📊 📉 Previously bullish Trend: Firstly, on the 1H- timeframe, we've been witnessing a Bullish trend in the GBPUSD pair. 🐻 🔄 Divergence on HH: However, it's crucial to note that recently, we have started to observe a divergence pattern on the HH. This is an important signal that the Bullish momentum might be weakening. 📉🔄 📊 Trade Opportunity: Currently, we are looking at a potential trade opportunity with a Bearish bias. 📈 Entry Price: 1.23860 🎯 Stop Loss Level: 1.24306 🚀TP1: 1.23420 🚀TP2: 1.22981 💰 Investment Advice: Please remember that trading carries risks, and it's essential to have a well-defined trading plan, proper risk management, and stop-loss orders in place. This analysis is for educational and informational purposes only and should not be considered as financial advice. Make sure to do your research and consider your risk tolerance before entering any trade. Happy trading, and may the pips be in your favour! 🚀📈💰 #HappyTrading #ProfitOpportunity #TradeSmart #CryptoSignal #StockSignal #TradingwithBelieve
Long
by TradingwithBelieve
GBP/USD Technical & Sentiment Analysis - Short-Term OutlookGBP/USD Technical Analysis with Sentiment Data: Current Price and Support Levels: As of the latest close, GBP/USD is trading at 1.23791. It's important to consider that the current price is in close proximity to significant support levels at 1.23784, 1.23141, and 1.22637. These levels have historically acted as robust areas of price support, potentially attracting buying interest. Major Resistance Levels: On the other hand, the current price is also approaching major resistance levels within the range of 1.23895 to 1.23897 and 1.24213. These are substantial price zones where traders may contemplate taking profits or initiating short positions if GBP/USD reaches these levels. Short-Term Outlook: Given the technical analysis, my inclination towards a short position with the target of revisiting the 3rd support level at 1.22637 as a pullback appears technically sound. Should the price fail to breach the immediate resistance levels and begins to retreat, it could discover support around the levels which I've identified. Sentiment Analysis: It's noteworthy that, based on sentiment data (Myfxbook), 76% of traders are currently in short positions, representing 11,193.20 lots, while 24% are in long positions, accounting for 3,505.61 lots. This indicates a bearish sentiment in the market, with a significantly higher number of traders shorting GBP/USD compared to those taking long positions. Specifically, 35,217 traders are short, while 11,825 are long, which further emphasizes the bearish sentiment. Additional Considerations: Market Sentiment: With the majority of traders holding short positions, it aligns with my short-term outlook. However, we have to keep a close eye on market sentiment as it can change rapidly. Longer-Term Perspective: Maintain a broader perspective even though my primary focus is on the short-term. GBP/USD can be influenced by extended economic trends and political events, so staying well-informed about these influences is imperative. Routine Monitoring: Continuously monitor price action, market sentiment, and adjust strategy in response to evolving market conditions. Remember, trading in the forex market carries inherent risks, and it's vital to maintain a well-defined trading strategy and risk management plan. Seek guidance from a financial advisor or conduct further research before executing any trading decisions. VANTAGE:GBPUSD $XM:GBPUSD #GBPUSD #EAForexGlobal
Short
by EAForexGlobal
GBPUSD LOSS - Discussing a LOSS & what I could have done BetterHey guys what's up Brandon here..so as promised I am going to give a breakdown as to why I think I lost the GU trade. This one is entirely my fault as I saw the consolidation where I know liquidity would have been trapped and I chose to ignore it. I also saw that GU was becoming very exhausted yesterday and I also chose to ignore that as well and now I am paying for that. I think it is important to note when you know you did shit and don't make excuses for yourself, this is how I've learnt to analyze the way that I do now. I never made an excuse for myself and I am not about to start now. That being said I welcome your critiques and comments, did you see what I saw? Would you have taken this trade? What would you have done? Let's try to learn and grow together, Even though I am consistently profitable doesn't mean I've stopped learning and growing. The more I learn, the more I realize how much I don't know - Albert Einstein
Short
by Brandon_evo4
Gbpusd Next Confirm Target 🎯GBP/USD gathered bullish momentum and registered gains on Wednesday after dropping below 1.2100 earlier in the day. The pair continued to stretch higher toward 1.2200 on Thursday but lost its traction, with investors refraining from taking large positions ahead of the Bank of England's (BoE) monetary policy announcements. The Federal Reserve held the policy rate steady at 5.25%-5.5% as widely expected on Wednesday. Fed Chairman Jerome Powell did not rule out another rate hike in December but failed to convince markets. The benchmark 10-year US Treasury bond yield fell nearly 4% on the day and the US Dollar (USD) weakened against its major rivals, allowing GBP/USD to turn north.
Short
by FxAlena
GBP/USD Consolidates Below 1.2200GBP/USD has entered a consolidation phase after testing the resistance at 1.2200. The upward momentum of the British Pound seems to pause, preparing for the Bank of England (BoE) policy announcement on 'Super Thursday.' The Relative Strength Index (RSI) on the 4-hour chart remains near 50, indicating indecision in GBP/USD. The 100-period Simple Moving Average (SMA) forms immediate resistance at 1.2175, followed by 1.2200 (23.6% Fibonacci retracement level of the latest downtrend, SMA 200). A close above this level in the 4-hour timeframe could attract technical buyers and pave the way for an extended recovery towards 1.2260 (psychological level). On the flip side, the initial support lies at 1.2100 (psychological, static level) followed by 1.2050 (recent downtrend low) and 1.2000 (psychological, static level).
by Gwen_Humuna
GBPUSD to Possibly Fall of A Cliff (SELL OPPORTUNITY)Hey guys, what's up Brandon here - So I just entered a sell on this pair (GBPUSD) and I briefly Breakdown as to why I took it If we look at the details - everything aligns with sells nicely as the momentum is bearish on almost all timeframes with only 1 or 2 suggesting buys Now on the few timeframes that may be suggesting buys we have to take into consideration that that could be an induction to buy because GU is a bearish market - and my question is why oh why?....Would you want to buy in a bear market I don't think this ever makes sense because in essence what you are really doing is - believe it or not...CALLING A BOTTOM And why would you call a bottom when the market is dropping? I'll take my chances with the sell - I'm prepared to lose as that is one of the things that just comes with the territory so it is what it is Let me know what you guys think
Short
by Brandon_evo4
GBP/USD Extends Gains Above 1.2150 Level"In the US trading session, GBP/USD rose to its highest level since last Wednesday, surpassing the 1.2170 mark. The pair was supported by a weaker US dollar on Monday, as market participants awaited US employment data, as well as the Fed and BoE meetings. The Relative Strength Index (RSI) on the 4-hour chart remained below 50, and GBP/USD closed the last 4-hour candle below the 20-period Simple Moving Average (SMA), indicating the downtrend is still intact. On the flip side, 1.2075 (a static level) is considered a temporary support before 1.2050 (the recent low) and 1.2000 (a psychological level). The 50-period SMA formed dynamic resistance at 1.2140, ahead of 1.2180 (the 100-period SMA) and 1.2200 (the 23.6% Fibonacci retracement level, and the 200-period SMA).
by Gwen_Humuna
1
GBPUSD Shorts towards 1.20400The Bias for this trade will follow the overall bearish market trend, hence why we will be looking for sells to continue in that same order flow. As of the current price we have two supply zones marked out (A) the refined 4hr supply zone and (B) is the 8hr supply zone at the top. I will be waiting for further confirmation like a re-distribution within the 4hr supply and a clean CHOCH to confirm sells however, there are imbalances above the zone so we can also expect that to get filled and then tap into our extreme 8hr supply at the top for a better sell setup to form. Either way, both targets are at 1.20400 which is at a liquidity point or just below where the daily imbalance is which still hasn't been filled. My confluences for GBPUSD shorts are as follows: - There is a 4hr supply zone & 8hr supply zone that has caused the CHOCH & BOS to the downside. - Price has also swept liquidity from the left hence why we have broken into a bearish trend. - There is a daily imbalance below that hasn't been mitigated as well as wicks in the form or liquidity that hasn't been taken. - The GU market has been in a bearish trend overall on the higher time frames so we trading with the trend. - Price is beginning to create lower lows and lower highs which has multiple small BOS's. P.S. Scenario (A) which is the sell from the 4hr supply zone can be expected to play out during this week but scenario (B) might occur next week. We will see how NFP Friday plays out to give us a better insight into the direction of the market.
Short
by Hassan_fx
2
💡GBPUSD: Challenges in British Retail ➡️British retailers had a tough time in October with their sales hitting a low point, and they anticipated a more challenging November due to the burden of rising living costs. In general, the survey corroborates a string of gloomy business outcomes, indicating the potential for the UK economy to stall or even experience a mild recession. ➡️The GBP/USD pair initially dropped following the release of US GDP data, but it later rebounded and is currently trading below the 48-hour moving average. Given that the MACD double line and the histogram bar have displayed a divergence near the zero axis, there is a possibility of a short-term recovery for the British pound.
Short
by Stone_Haven
EUR/GBP Extends Gains Near 0.8720 Ahead of German Data"EUR/GBP has continued its upward trend for the second consecutive day, trading near the 0.8720 level in early European trading on Monday. The currency pair received support ahead of significant economic data releases from Germany. However, preliminary Gross Domestic Product (GDP) data for Germany is expected to show a 0.3% decline for the quarter, with a 0.7% year-on-year decrease, compared to a 0.2% decline in the previous report. Additionally, initial forecasts for the Consumer Price Index (MoM) indicate a decrease of 0.2%, down from the previous 0.3%. Furthermore, the Euro weakened following the European Central Bank's (ECB) decision to maintain the deposit interest rate at 4.0%, reflecting concerns about the deteriorating economic outlook in the Eurozone. ECB President Christine Lagarde is navigating a delicate balance, steering the central bank through a challenging economic landscape. Maneuvering between a weakening economy and strong inflationary pressures is no easy task. With the increasing complexity of monitoring the Middle East crisis, relying solely on data seems unwise. On the other hand, the British Pound (GBP) may face challenges as traders adopt a cautious stance ahead of the Bank of England's (BoE) policy meeting scheduled for Thursday. Many predictions suggest that the central bank will maintain its current interest rate at a 15-year high of 5.25% due to growing concerns about economic recession. The UK economy is feeling the strain due to high-interest rates, adding to the challenges posed by persistent inflation. Economic data indicates significant declines in various sectors, coupled with high inflation, putting additional pressure on household budgets.
by Gwen_Humuna
GBPUSD 4H :Still show bearish tendency GBPUSD New forecast The pound sterling pair against the dollar is trading positively, surpassing the 1.2110 level and settling above it, but we notice that the price is showing clear saturation in buying now, which supports the chances of returning to the decline and resuming the negative scenario suggested in our recent reports, whose next target is at 1.2062, and by breaking it, it will reach 1.2016 , to confirm the bearish trend should stable under 1.2106 and then will drop . The 50 moving average is putting negative pressure on the price to support the continuation of the expected downward trend, keeping in mind that breaching 1.2156 will stop the proposed decline and push the price to achieve more gains in the immediate term. so our target will be activate when the price can stability under 1.2106. The expect range trading for today it will be between the resistance line 1.2156 and support line 1.2062. Additionally ,Today News will affect the market . support line : 1.2106 , 1.2062 resistance line : 1.2155 , 1.2192 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Short
by Arazmajeed
4
GBPUSD 4H : Under sell pressure GBPUSD New forecast The pound sterling pair against the dollar shows more bearish tendency to exceed the 1.2106 barrier, reinforcing expectations of a continuation of the bearish trend during the coming period, and the way is open to achieving our expected negative target at 1.2062, noting that breaking it will extend the bearish wave to reach the 1.2016 areas in the near term. The moving average 50 constitutes negative pressure that supports the continuation of the proposed bearish wave, which will remain in place provided it remains below 1.2122, as breaching this level represents a positive factor that will lead the price to recover again. The expect range trading for today it will be between the resistance line 1.2122 and support line 1.2062. Additionally ,Today News will affect the market . support line : 1.2062 , 1.2016 resistance line : 1.2106 , 1.2122 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Short
by Arazmajeed
GBP/USD Hits Three-Week Low Below 1.2100"GBP/USD extends this week's decline from near 1.2300, touching a three-week low in Asian trading on Thursday, pressured by a stronger US dollar. The pair weakens further below the key 1.2100 level and faces selling pressure. The Relative Strength Index (RSI) on the 4-hour chart drops below 50, and the latest 4-hour candles close below the 100-period and 50-period Simple Moving Averages (SMA), indicating a downtrend. The level at 1.2100 (a psychological threshold) is considered the main support. If buyers fail to defend this level, further losses towards 1.2050 (the recent low) could be witnessed. To attract technical buyers, GBP/USD needs to surpass the resistance zone of 1.2190-1.2200, where the 100-period SMA and the 23.6% Fibonacci retracement level converge. In this scenario, 1.2250 (the 200-period SMA) and 1.2300 (the 38.2% Fibonacci retracement level) could be seen as the next resistance levels. After a sharp decline on Tuesday, GBP/USD rallied back to 1.2200 on Wednesday. However, market caution prevented a sustained recovery. US data released on Tuesday revealed that private sector business activity expanded slightly faster in early October compared to September, with the S&P's global composite PMI improving from 50.2 to 51. While US Treasury bond yields continued to decline, the US dollar benefited from the optimistic PMI data, putting pressure on GBP/USD. In early European trading on Wednesday, US stock index futures traded negatively, and the yield on the 10-year US Treasury note maintained a modest daily increase of around 4.85%, supporting the US dollar. In the latter part of the day, the US New Home Sales data for September will be considered for new momentum. Some policymakers at the Federal Reserve have expressed concerns about the negative impact of high-interest rates on the housing market. Therefore, a significant decline in this data could immediately harm the US dollar. On Thursday, the US Bureau of Economic Analysis will release its initial estimate of third-quarter Gross Domestic Product (GDP) growth.
by Gwen_Humuna
GBPUSD 4H : testing the support zone GBPUSD New forecast The pound sterling pair against the dollar rebounded strongly after approaching the 1.2192 level, exceeding the moving average of 50 and settling below it, which provides indications that the price is heading back to the main bearish path again. Therefore, we prefer to remain neutral until we get a clearer signal for the next direction, noting that breaking the support 1.2106 will put pressure on the price to achieve additional declines and target the 1.2062 areas initially, while failing to break the support 1.2106 is the key to reactivating the bullish corrective wave whose targets start at 1.2155. It extends to 1.2192 after surpassing the previous level. The expect range trading for today it will be between the resistance line 1.2155 and support line 1.2106. Additionally ,Today News will affect the market . support line : 1.2122 , 1.2106 resistance line : 1.2155 , 1.2192 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
by Arazmajeed
GBPUSD short term Longs to 1.22500SCENARIO 1 - My current bias for GBPUSD is to buy roughly were current price is at (9hr demand) but could expect a bit more downside and mitigate the 7hr demand zone for the buy setup to take place. Regardless we are expecting a wyckoff accumulation to take place in this POI. Targeting 1.22500 were the 8hr supply zone is located, we will then look for price to slow down momentum and distribute for a potential sell setup to form in either the 8hr or the 10hr supply zones. My confluences for the buys are as follows: - Price has tapped into a 9hr demand zone that has caused a change of character to the upside. - There's lots of imbalances left from the downwards push we had today so we are expecting that to get filled in. - Liquidity that was lying underneath the consolidation has also been swept hence why we are starting to see higher highs and higher lows. - Also for price to continue going down in a bearish trend overall I would be expecting for price to mitigate the 1.22500 level in order to continue going down. - wyckoff accumulation is starting to unravel as price was slowing down whilst entering the zone (good sign, as the rejection indicates price wants to go back up.) P.S. If price decides to push higher than our two supply zones and sweeps the liquidity at 1.23400 it will form a break of structure on the higher time frame indicating the trend will officially be bullish temporarily.
Long
by Hassan_fx
1