📈GBPUSD analysis, Weekly insight into price behavior📉FX:GBPUSD
OANDA:GBPUSD
Hello Traders, please check out my previous ideas.
If the Pound stabilizes above the weekly Bollinger midline, the bearish scenario won't be fellfield.
In the bearish scenario, the price can fall to the yellow zone.
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Gbpusd_forecast
GBPUSD forming H&S in Daily Timeframe.GBPUSD is now heading towards an important level after breaking the recent small head and shoulders support/neckline around 1.25900, we expect the price to fall at the market open to this level at $1.23250, basically the market has already had broken the ascending channel at $1.27900 due to the head and shoulders formation.
The "Head" - @1.31280 and shoulders price level can be seen at @$1.28050. This pattern is clearly seen on the lower time frames - 4H and H1 and the market appears to be making another head and shoulders formation and this tells us that more bearish market is on the way.
🔥: GBPUSD SETUP: NEUTRAL
🔥BUY ZONE: $1.23180
🔴SL: - $1.2285
🟢TP - $1.2601
Next
🔥SELL Zone: $1.2678
🔴SL: - Open
🟢TP - $1.2340
🟢TP - $1.1992
Will GBPUSD bounce back from here?GBPUSD is one of the trading pair. By looking on the current structure on chart we can say it's below the major trend. And also reaching to the high demand zone.
There is a good possibility it will be bouncing back from here because of
Reason :
1. RSI is in oversold zone. But don't have good strength so buyers will start making positions here.
2. Zone has provided the good support zone for demand.
3. Reduction of volume of sellers.
Verdict :
Bulliness in near future.
Plan of action :
Wait for breakout of dotted trendline.
GBPUSD Technical Analysis and Trade IdeaThe GBPUSD has been experiencing sustained downward pressure, and I believe this trend is likely to persist in the foreseeable future. Nevertheless, there appears to be ample potential for a substantial retracement. Currently, we can see evident on the chart, a slight pullback, and I'm actively seeking an opportunity to capitalize on this retracement. In the video, we delved into the topics of the trend, price action, market structure, and various critical elements of technical analysis. As always, the video provides a clear and comprehensive explanation. Please note that it is intended solely for educational purposes and should not be interpreted as financial advice.
GBPUSD 13 Sep 2023 Outlook. Today, GBP is bearish due to it's news perform L.H and LL last few days.
We should wait for a good entry point after the market is exhausted. Another important factor to consider is the CPI for USD, which will also impact the market.
Next Liq Zone. 1.23952
Price create this level as support 05 to 07 June.
Price test this support to move further upside.
Price Formed H & S.
Find short Setup in coming Days.
Target is. 1.23952
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.
GBPUSD, Further ShortOn the Weekly time frame, the last two daily candles closed below the EMA-200 dynamic support in a descending price channel within a monthly falling wedge.
There was a breakout of the falling wedge which under normal circumstances would have been a bullish start at the base of it, but this decline was as a result of the rising DXY index over the week past.
The retest into the wedge by the last daily candle was resisted by the EMA-200 support. This signifies huge declines in the coming days. The upside swing of the DXY index is also evident backing further declines of the GBPUSD.
Resistance: 1.25331
Support: 1.23083,
1.22743,
1.21523
GBPUSD: 500 PIPS SETUP❤️Dear Traders, USD has been strong lately and market has been messy due to recent economic data, however, after todays strong GBP news we think in coming weeks GBP will be extremely bullish whereas we expect DXY to remain bearish for longer term. Let’s wait and see how it works out.
Our main aim here is to wait for price to come to our area which has higher possibility that it may drop hard later this week. If not price may break -through trend-line.
GBPUSD Analysis:Riding the Bearish WaveHello traders,
Here is my EW Analysis of the GBPUSD Currency pair.
Market Sentiment and Wave Count:
My bearish sentiment on GBPUSD remains intact as the price continues its downward movement, It is important to note that the price recently encountered strong resistance at the 1.2746 level, a development that underscores the strength of sellers in the market.
At present, the market is evidently in the process of forming what appears to be an impulsive wave 5. This wave pattern, characterized by its directional nature, signals a high probability of further downward movement.
Price Target:
My expectation is for the price to maintain its downward course, with a potential decline anticipated to reach 1.25016. This price level serves as my designated target for the completion of the major impulsive wave 'V'.
Entry idea:
I suggest considering the initiation of a short position when price breaks the 1.2649 level. This entry point is in line with EW analysis; as a breach of that level is an indication of the continuation of the bearish trend while the invalidation level is 1.28008.
Cheers and Happy trading.
GBPUSD 06/09 MovePair : GBPUSD ( British Pound / U.S Dollar )
Description :
Completed " ABC " Correction in Corrective Pattern " Symmetrical Triangle ". We have Bearish Channel in Long Time Frame , If it Reject from Fibonacci Level - 78.60% or We have a Break of Structure then we can Buy after Bullish Confirmation Price Action
GBP/USD Short Trading OpportunityGBP/USD Short Trading Opportunity
1. The price is below Trend Magic Indicator.
2. US Dollar Index DXY yesterday broke the level and the uptrend continues.
3. RSI indicates more downtrend power.
4. Retail trader data shows 60% of traders are net-long. Strong contrarian short signal.
SL - above the Trend Magic Indicator line
TP1 - on the 200-SMA
TP2 - 1.2320
Keep It Simple and Always Trade With the Trend!
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GBPNZD, ripe to short to the next significant levelThe GBPNZD was rejected by the upper trendline of the ascending channel on 21st August, 2023.
made a pull back to the 2.13930 support. Price is currently being resisted by the EMA-50 on the 4HR time frame. A break below the EMA-50 could push the price down to ultimately re-test the EMA-200 support at 2.10941.
On the other hand, the fibo retracement could pull price above to 2.14605 resistance entry where the price can have a significant short.
GBPUSD, to Long in the short-medium termThe GBPUSD outlook has formed a descending triangle which signals a bearish trend in general however after a recent consolidation beneath the base of the triangle and the bulls have managed to break through the descending trendline for a potential retest of the EMA-200 resistance on the 4-HR time frame.
The GBPUSD is set to rise to retest the hypotenuse trendline of the descending triangle.
GBPUSD LONG TERM BUY IDEAHello 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
GBPUSDPrice seems to be stuck in a consolidation phase ranging between the 1.27873 and the 1.26639 zones. Although on the higher time frame (weekly) price seems to be making higher highs I would rather wait to see a breakout of the consolidation range before taking any position. Waiting is good trading strategy
Disclaimer:
All trade ideas are given for educational purposes and should not be treated as an investment advice, hence do your due diligence. Past results does not guarantee future results