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Gbpusd_forecast

GBPUSD Bearish Outlook?Last week, the GBPUSD pair consolidated, ranging between 1.23757 and 1.23532, with no significant changes to shift our bias. Technical analysis indicates a bearish outlook for the upcoming week, as the cable struggles to maintain its bullish momentum. The 20-day EMA acts as support for now, but its strength remains questionable. On the 4-hour and 1-hour timeframes, the GBPUSD shows potential bearish signs. The MACD is below the zero line, and divergence from last week's analysis is still valid. The pair may break support and trade bearish unless critical resistance levels on the daily and 1-hour timeframes hold. Fundamental factors also play a role in the GBPUSD forecast. While there is no significant GBP news, several high-impact USD events may cause volatility. Key events include CB Consumer Confidence, New Home Sales, Core Durable Goods Orders, Advance GDP, Unemployment Claims, and Core PCE Price Index. In conclusion, the GBPUSD forecast for the coming week is bearish, with technical and fundamental factors contributing to potential downward movement. Traders should monitor key events and employ proper risk management while navigating the forex market. Please hit the boost and follow for updates in the coming week. Thanks for doing just that!
by ClintOnos
GBP/USD Technical Analysis and Key Events to WatchThe GBP/USD currency pair recently reached the 1.25240 resistance level, leading to uncertainty in the market. In our previous analysis, we identified potential supply zones at 1.25240, 1.25648, and 1.26252. The currency pair remains technically bullish, as the price is above the 20-day exponential moving average (EMA), and the MACD line is above the zero level. A bearish divergence is visible on the 4-hour chart, with the MACD signal line indicating bearish control. On the 1-hour chart, the MACD has crossed the zero level, and bearish pressure is evident. The direction of the GBP/USD pair will depend on whether the trendline support holds or breaks and later retests as resistance. Key fundamental factors to watch next week include the ZEW economic sentiment, Euro Area inflation print, and hawkish rhetoric from the European Central Bank (ECB). These events can impact the GBP/USD pair, making it crucial to monitor them for a better understanding of the market's potential direction. The following economic events may also influence the GBP/USD pair: Empire State Manufacturing Index Claimant Count Change Average Earnings Index 3m/y CPI y/y Unemployment Claims Philly Fed Manufacturing Index FOMC Member Waller Speaks Existing Home Sales Retail Sales m/m Flash Manufacturing PMI Flash Services PMI To navigate the uncertainty, traders should stay informed, use technical analysis tools, employ risk management techniques, practice patience, and learn from experience. By monitoring key events and employing these strategies, traders can optimize their approach to the GBP/USD market.
by ClintOnos
2
Demand zone mitigationThe distribution phase breakout was extremely volatile and portrayed a completely one directional movement which made a stunning demand zone mitigation. Buyers took control of the market until the minor liquidity zone decline, the rejection moved in a corrective manner to trigger demand zone with a strong hammer candlestick then drove up to break the structure and create a higher high. This higher high is created by a strong shooting star to shoot price all the way down. From here price is expected to mitigate this immediate demand zone in order to hike up once more to the liquidity pool above…
by tokelohomi
20 Reasons For Buy GBPUSD 🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️ 1:✨Eagle eye: I think a multiyear downtrend is over now because the market formed a 1985 to 2022 double-bottom bear trap; you can be seen by using a yearly chart that the picture will be clear after if, in 2023 candle is clear inside bar with some bullish momentum 2:📆Monthly: a clear downtrend, but here are some solid reasons for the bull at this level; you can see a consolidation here sweep all downside liquidity and start a bull side move right now 3:📅Weekly: inner structure inducement and impulse move started. At this point, we are seeking only to buy everything in the bull's favor 4:🕛Daily: triple top with a proper bullish structure valid for only Buy entries at a breakout or pullback. Just buy here 😇7 Dimension analysis 🟢 analysis time frame: Daily 5: 1 Price Structure: bullish 6: 2 Pattern Candle Chart: triple top upside breakout excepted 7: 3 Volume: Every time a massive volume at the bull candle, this indicates buyers are much stronger than the sellers 8: 4 Momentum UNCONVENTIONAL Rsi: Waooo great Rsi almost shift their range from sideways to super bullish zone 9: 5 Volatility measure Bollinger bands: above to middle band some m shape so before breakout a minor correction is excepted for a more decisive move 10: 6 Strength ADX: bullish 11: 7 Sentiment ROC: GBP is more substantial than USD in terms of rate of change monthly period 1 ✔️ Entry Time Frame: H4 12: Entry TF Structure: Bullish 13: entry move: we enter only at impulse move so we can wait 14: Support resistance base: recent bullish OB 15: FIB: Not yet ☑️ final comments: wait For Buy until the price does not give us a proper Buy signal at our desired Price 16: 💡decision: Buy Only 17: 🚀Entry: 1.2239 projected 18: ✋Stop losel: 1.2188 19: 🎯Take profit: 1.2557 20: 😊Risk to reward Ratio: 1:6 🕛 Excepted Duration: 5 day
Long
by Optimum369
GBPUSD: What is the direction of the market?At the beginning of the European session on Tuesday, the dollar increased slightly but struggled to surpass its recent five-week lows before the Federal Reserve's newest policy-setting meeting. The Dollar Index, which measures the US dollar against a basket of six other currencies, traded 0.1% higher at 103.025 at 04:05 ET (08:05 GMT) after falling below 103 for the first time since mid-February. Due to the ongoing banking sector crisis, traders began to anticipate that the Federal Reserve would not raise interest rates due to banking stress, which weighed heavily on the US dollar. To alleviate funding pressures in global markets, the Fed announced a seven-day dollar swap on Sunday. Although the use of this facility was restricted, the rush to inject liquidity into the monetary system demonstrated financial stress and had a clear negative impact on the USD, according to Alan Ruskin, Deutsche's director of international strategy. NOTE: when trading always have sl and tp to be able to ensure the account in the best way. Wishing everyone a smooth and successful transaction!
by Sphyn-Trader
1
GBPUSD#GBPUSD - Currently the MARKET SENTIMENT for GBPUSD is slightly UP SIDE. All MARKETS including STOCKS and STOCKS may be UP due to MARKET RISK ON in the past days. It affects the POUND greatly. GBPUSD may be slightly UP this week. Anyway, XXXUSD PAIRS are being BUYed slightly higher because the FED is a bit dovish. - The price can definitely move up to the SUPPORT LEVEL below the GBPUSD. The reason for that is because there is a slightly UP BIAS in the MARKET for USD. But GBPUSD can be BUY until 1.2700 LEVEL. Before that, you can SELL at 1.1580 LEVEL. So go for GBPUSD LONG ENTRIES.
by benny_marshall
GBPUSD SELLWelcome . The pound sterling against the dollar. in a very negative state. With the price reaching the strong resistance 1.2100, with a retest of the area. It also formed a very negative candle on the daily chart. with a downward trend. And break the bullish flag. There is a lot of pressure from the sellers to bring the market down. to 1.18,000 levels in the first stage. And the level of 1.16000 is good luck. Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank you
Short
by inv_market09
4
Short term buy opportunity on GBPUSD!GBPUSD looks like bulls are in control as it bounced up from 1.193 key level due to short term weaknesses in US dollar index. The pair is tempting to break above the falling trendline and it looks to me that it will not hold. If we see a complete violation, we could see price extending to 1.226. For best entry we need to wait for a complete break above 1.213 and have good confirmation to go long. If you find this idea helpful please do show your support with likes.
Long
by Forexintelligence_NA