GBPUSD: Setting Up For A Nice Buy Are Bulls gearing up for the next rally? Waiting to BUY...
Looking for one more push down to retest the bullish OB or previous low at MQP 1.3000.
Buy limit @ 1.30412
SL 1.29811
TP1 1.30612
TP2 1.30912
TP3 1.31412
TP4 1.32412
Remember we want to be less predictive and more reactive. So let's wait for our bullish entry confirmations.
Gbpusd_forecast
#GBPUSD 4HOn the GBP/USD 1-hour chart, the price has bounced off a key support level, indicating a potential bullish reversal. The support bounce suggests that buyers are stepping in at this level, preventing further decline and possibly initiating an upward move.
Forecast: Buy
A buy opportunity is expected as the price rebounds from support. Traders may consider entering a long position with the anticipation that the price will move higher, targeting nearby resistance levels. It’s important to monitor price action for confirmation that the support is holding, as a breakdown below the level could invalidate the buy setup.
GBP/USD Weakness Continues Amid Expect. of Faster BoE Rate Cuts As anticipated in our previous analysis, the British Pound (GBP) remains under pressure, with the GBP/USD pair showing continued signs of weakness. Market sentiment suggests that the Bank of England (BoE) could accelerate its rate-cutting cycle, a view bolstered by recent dovish remarks from BoE Governor Andrew Bailey. Last week, Bailey hinted that the central bank might adopt a more aggressive stance on cutting rates if inflation continues to show favorable trends. This prospect has increased market bets on rate cuts, which is contributing to the downward pressure on the GBP/USD pair.
Market Sentiment: Retailers Hopeful, Smart Money Bearish
From a sentiment perspective, retail traders remain hopeful for a possible bullish reversal in the GBP/USD pair. However, smart money (institutional investors) continues to lean towards a bearish outlook, aligning their positions with the broader market expectation of a weakening Pound in the face of potential rate cuts by the BoE.
Technical Outlook: Identified Demand Area
Technically, we have recognized a potential demand area where the price may find support. However, the downward trend could extend further, particularly after the release of the FOMC Minutes, which may provide more clarity on the direction of US monetary policy. This could continue to push the GBP/USD pair lower.
At this moment, patience is crucial. We are waiting for the price to approach key levels where a potential reversal could occur, but it is essential to wait for confirmation before taking action.
Conclusion
The British Pound remains under pressure as markets increasingly believe that the Bank of England could accelerate its rate-cutting cycle. Governor Bailey's recent comments have fueled this speculation, leading to increased bearish sentiment in the GBP/USD pair. For now, patience remains key as we wait for the price to reach critical demand areas that may offer a chance for a reversal. Until then, traders should remain cautious and avoid premature entries.
✅ Please share your thoughts about GBPUSD 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.
GBPUSD: Setting Up For A Nice Buy Are Bulls gearing up for the next rally? Waiting to BUY...
Looking for one more push down to retest the bullish OB or previous low at MQP 1.3000.
Buy limit @ 1.30412
SL 1.29811
TP1 1.30612
TP2 1.30912
TP3 1.31412
TP4 1.32412
Remember we want to be less predictive and more reactive. So let's wait for our bullish entry confirmations.
GBPUSD - Look for Reversal Long (INTRADAY) 1:4!A similar setup could be forming in GBPUSD, where we might catch a few pips on a buy once the price reaches the Demand Zone. Let's monitor how the market responds to this setup.
Disclaimer:
This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
GBPUSD Technical Analysis and Trade Idea👀 👉 The GBPUSD has been experiencing downward pressure lately, which may offer a potential short-term day trading opportunity. In this video, we'll take a detailed look at the price action, review the current trend and market structure, and explore a possible trade setup. Disclaimer: Forex trading involves substantial risk, and market conditions can shift quickly. The content provided is for educational purposes only and should not be considered financial advice. 📉✅
GBPUSD British pound Bullish Week**British pound GBP Value Correlation to USD
>We are now in the Oversold region Signaling for a bullish trend week.
Note: Every time we get Oversold Readings (Green Vertical Lines) we always get a Bullish Move
**Election Year Seasonality forecast
>Bullish until early next Week.
Technicals:
>Price already tested the Daily Supply Zone last Friday, preparing for a Bullish Week ahead.
>Price could reach to the opposing Supply Zone that initiated the bearish imbalance.
OTHERS:
>Scalpers can ride the bullish trending week
>Long term traders can position for a Sell for next week or position a Long trade at Supply for a retest.
***As always, trade safe and make sure to do your due diligence when analyzing the charts.***
GBPUSD UPDATES FOR MONTHLYFOr swing trades, we wait below the monthly open. trade at your own risk.
This is only my view, This week we have more high impact news. FOMC.JOLTS. ISM. ADP NONFARM AND NFP.
So basically this idea trick the bulls/longs. I preferred buy the lows of monthly open on sept.
THis idea also triggered downtrend this week. trade only once you understand the order flow of the market.
Follow for more/
I made a copytrades base on my trading/ come and check me out.
This is not a financial advice. trading are for risk takers.
take a manageable risk base on your own equity.
#GBPUSD 4HGBP/USD (4H) Buy Opportunity:
The GBP/USD pair is in an uptrend on the 4-hour chart. If the price breaks through the first resistance zone, there’s potential for a continuation toward the second zone. The uptrend is supported by bullish price action, higher lows, and strong momentum indicators like RSI.
Trade Idea: Enter a buy position on a confirmed breakout of the 1st zone, with a stop loss below the breakout level and target set at the 2nd zone.
GBP USD Trade Setup Daily timeframe GBP USD is moving in an uptrend making higher highs and higher lows,
With this bullish momentum we will be looking for buying opportunities from the lower timeframes.
To get our entry lets scale to the lower timeframe to identify chart patterns and entry confirmations.
GBPUSD analysis week 40Fundamental Analysis
According to CME Group’s FedWatch Tool, the market is currently pricing in a more than 75% chance of the Federal Reserve cutting interest rates by another 50 basis points in November. In addition, weaker US macroeconomic data on Tuesday, coupled with the prevailing risk-on environment, further undermined the safe-haven dollar and confirmed the positive near-term outlook for GBP/USD.
Going forward, there is no market-relevant economic data due out of the UK on Wednesday. However, a scheduled speech by BoE MPC Member Megan Greene could influence GBP and provide some impetus to the GBP/USD pair. Later in the early North American session, US New Home Sales data could contribute to short-term trading opportunities.
Technical Analysis
GBPUSD’s trading range has remained largely unchanged over the past week. With little technical movement we still see the pair in a solid range of 1.323 and 2.349. In the short term we can see that the immediate support zone has been raised after the price reacted strongly at 1.331 and the resistance level forming a triple top around 1.342 has been established. The GBPUSD direction could continue the correction early next week and reach the yearly record around 1.350 in the near term.
Trading signals
SELL GBPUSD zone 1.349-1.351 Stoploss 1.353
BUY GBPUSD zone 1.323-1.321 Stoploss 1.319
A SWING BULLISH SCENARIO FOR THE POUND?DOLLAR (GBPUSD) PAIRClearly price is in an upward trajectory as price recently gave us a break of structure from July 2023 high which was a pivot point and a strong high for price . Previously we saw price gave us a break of structure to the downside from the highs that were created in may of 2021 around 1.4247 and the low that gave a BOS in sep of 2022 around 1.0343 which prompted price to trade back into premium zone of these two ranges. Price tapped into 0.705 fib level around 1.0309 in July of 2023 and immediately rejected which is normal if price is meant to continue downward. but price sold and found support around 1.0204 in Oct of 2023 which technically means a trendline is activated to support price suggesting market participants expect a possible trending market to the upside . Now recently price has violated 2023 high which was supposed to be intact if we are bearish, thus confriming the possibilitiesof an uptrend. possible next supply zone for price will be equal 2021 highs or monthly bearish ob around 2021 highs. If the consequent encroachment of the ob fails to resist price then price will either use 2021 highs as draw on liquidity to retrace back into fib OTE levels or just break above, either ways that zone is GU's next line of defense.
GBPUSD Technical Analysis and Trade Idea👀 👉 GBPUSD has been bullish recently; however, the price appears overextended and is trading near a resistance level. If today’s USD data release supports a weaker USD, there could be an opportunity to buy GBPUSD.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Trading involves risk, and past performance is not indicative of future results. Please conduct your own research or consult with a professional before making any trading decisions. 📊✅
GBPUSD moving higher to test 1.3500 level**Monthly Chart**
GBPUSD monthly candle closed bullish for August. The next price target is around 1.3500 level (previous monthly IPA +Monthly High).
* *Weekly Chart**
GBPUSD moved aggressively higher after it formed a weekly key reversal in the previous week (9th Sept 2024). The bounce was from the weekly IPA of 19 Aug 2024 which made it a strong move higher.
The expectation for this week is that the upward movement is to be sustained and at least test 1.35000 level of the monthly IPA + Liquidity pool of Feb 2022.
**Daily Chart**
GBPUSD is expected to continue moving upward. We will be looking for any good setup for long opportunity. Next target at 1.35000 level. Better setup can be found in lower time frames such as 4H and One hour charts.
GBP/JPY Technical Analysis - Rising Channel and Fibonacci LevelsI'm tracking GBP/JPY on the 1-hour chart . The pair has been trading within a well-defined ascending channel and is approaching key resistance levels.
I’ve plotted Fibonacci levels to watch for potential corrections. Price is hovering around the 61.8% retracement , which is often a significant support zone. Price continues to respect the upward trendline, which reinforces the bullish momentum as long as it holds.
The next level of interest is around 193.00 , aligning with channel resistance and key horizontal levels. If the price breaks above this area, it could head higher toward 194.50 .
If the price breaks below the trendline, I’ll be looking at the 50% Fibonacci level as a possible next support at 190.00 .
Overall, I'm bullish for now, but cautious of a potential retracement if the price fails to break out of the channel.
Easy Does It: Bank of England Leaves Bank Rate on Hold at 5.0%‘Easy does it’ was today's primary message from the Bank of England (BoE).
Unlike the US Federal Reserve cutting rates by an outsized 50 basis points (bps) yesterday, the BoE is clearly in no rush to ease policy, with most policymakers backing a slow and steady approach.
In an 8-1 majority vote, the BoE left the Bank Rate on hold at 5.0% (external member Swati Dhingra, a known dove, opted for a 25bp cut). This follows August's meeting's 25 bp reduction, its first rate cut since 2020. The central bank also unanimously voted that the Committee would decrease its government bond purchases by £100 million over the next 12 months.
Amid the hold and hawkish vote split, the rate announcement triggered a bid in sterling (GBP) versus major G10 currencies. GBP/USD refreshed year-to-date peaks just north of US$1.33, touching levels not seen since early 2022.
BoE Governor Andrew Bailey emphasised that the economic picture is evolving as expected and rates would be reduced ‘gradually over time’, and added: ‘It's vital that inflation stays low, so we need to be careful not to cut too fast or by too much’.
Headline Inflation Remains Just North of the BoE’s Target
UK CPI inflation (Consumer Price Index) was unchanged in August for both YoY and MoM measures on the headline front. The Office for National Statistics revealed that UK headline inflation rose by +2.2% (YoY), flirting just north of the BoE’s inflation target of 2.0%, reached in May this year. Core and services inflation, however, ticked higher in August, with the latter still a thorn in the side of the BoE. It is worth noting that the rise in services inflation was largely due to base effects.
Wages continued to pull back in the three months to July; the unemployment rate also dropped to 4.1% from 4.2% in June (BoE forecast unemployment will hit 4.8% in two years), and employment growth jumped to 265,000 from June’s reading of 97,000.
Regarding growth, the BoE now forecasts real Gross Domestic Product (GDP) to ease to 0.3% in Q3 24, a touch south of the 0.4% August forecast. While the economy grew 0.5% in the three months to July 2024, albeit softer than the market’s median estimate of 0.6% and lower than June’s reading of 0.6%, real GDP flatlined again in July, defying economists’ expectations of 0.2%.
Cautious Vibe
The central bank’s cautious vibe has seen markets pare rate cut bets for this year. OIS traders (Overnight Index Swaps) are fully pricing in a 25bp rate cut in November, with a total of 43bps of cuts for the year.
Where Does This Leave the GBP?
The British pound versus the US dollar (GBP/USD) is in a favourable spot on the monthly chart. Following the break of resistance at US$1.3111 (now possible support), this technically swings the pendulum in favour of further upside for the currency pair, targeting resistance at US$1.3483.
The trend also supports the bulls, exhibiting clear-cut uptrends on the monthly and daily charts, therefore any corrections will likely be viewed as dip-buying opportunities. Supports of interest are the monthly base mentioned above at US$1.3111, positioned near a local daily descending support line, extended from the high of 1.3267.
GBPUSD Monthly Idea- GBPUSD continues its attempts to settle above the resistance at 1.3120 – 1.3140 as traders focus on general weakness of the U.S. dollar.
- In case GBPUSD settles above the 1.3140 level, it will gain additional upside momentum and move towards the next resistance at 1.3245 – 1.3665.
Bearish Reversal in GBP/USD After NFP Data: Key Levels to WatchIn my August 8 analysis, I highlighted the Morning Star pattern, which retested the previous resistance of the broken triangle, signaling a potential reversal to the upside with a target above 1.31 for the next leg up.
As anticipated, the price did reverse, and not only was the target reached, but it was also surpassed.
However, after breaking above the horizontal resistance level, which marked a yearly high for GBP/USD, the pair reversed.
Despite bulls' efforts to regain control, the NFP data provided clarity with a strong bearish engulfing pattern on the daily chart.
At the time of writing, the price is sitting right on the former resistance level, which now serves as support.
A break below this level could lead to further downside movement toward the psychological 1.30 level, and potentially even the 1.2850 technical support zone.
I believe this scenario will play out for "cable," and I'm looking to sell into rallies.
However, this outlook would be invalidated if a new high is achieved.