Get started

Gbpusdanalysis

GBP/USD - Downtrend Resumes below 1.2466The 15-minute timeframe is now a downtrend, we saw a completed wave structure yesterday. The pullback to that move is valid and we expect a follow-through. Having said that, the 1Hr timeframe is still not 100% Bearish, we need to see a break below 1.2466 before we can safely say the H1 is now bearish. The alternative Scenario is this; If the price should fail to break below 1.2466, and it proceeds to break above the (c) high 1.2506, we will reverse the position and buy immediately. Right now we are bearish and we sell or do nothing.
Short
by Charts247TradingAcademy
2
💡 GBPUSD: Analysis May 8GBPUSD turned down in price, confirming the previous false breakout signal, so you can see that the short-term trend of this currency pair is decreasing so you can sell. The nearest resistance area is the supply area and also the previous peak and bottom area around 1.2530. You can wait for the price to return to this area and then look for a signal to sell later. Currently, there is no price recovery but the downward momentum is still strong, so please wait patiently.
Short
by Stone_Haven
2
GBP/USD outlook: Pre-BOE decision time The British Pound has seen a partial retreat against the USD ahead of the Bank of England's interest rate announcement. It's widely anticipated that rates will remain steady at 5.25%. Consequently, attention is likely to be directed towards the voting split among the nine-member Monetary Policy Committee and the accompanying commentary, as these factors could influence market sentiment. How this split lands could affect the present futures markets predictions that the first UK rate cut will come in September. If the forecast is pushed back, we could see the 1.2500 psychological level provide support potential for the GBP/USD. The Relative Strength Index (RSI) has recently declined below the 50 level, highlighting a lack of bullish momentum, so we might like to see this pick up also. Moreover, the GBP/USD has dipped below the 200-day moving average. This could be the first level of resistance to take note of that could impede any upward trend. After this, levels of resistance the GBP/USD pair could face include the 50-day moving average (DMA) close to 1.2600.
by BlackBull_Markets
💡 GBPUSD: BOE reduced interest rates at the May policy meetingMUFG predicts that the Bank of England (BoE) may signal its readiness to lower interest rates soon, potentially starting as soon as the upcoming meeting. Recent statements from MPC members and upcoming inflation forecasts support a shift towards a more dovish policy stance. Key points: Policy rate expectations: BoE will likely maintain the current policy rate at 5.25% in its next meeting. However, recent dovish changes in the rhetoric of MPC members, especially from Deputy Governor Dave Ramsden, indicate a growing trend towards interest rate cuts. Inflation and economic outlook: The BoE's quarterly inflation report is expected to reflect an updated economic outlook, suggesting the risk of inflation overshooting target is receding. This change could confirm a softer approach to monetary policy. MPC voting pattern: Many MPC members may be influenced by Lieutenant Governor Ramsden's views and moderate in the upcoming vote. This change in voting dynamics could pave the way for interest rate cuts in the next meetings.
Long
by Stone_Haven
GBP/USD BUY TO SELL (up towards 1.26500)This week's analysis for GBPUSD presents promising opportunities based on anticipated price movements. Near current price levels, there's a nearby 4-hour demand zone that could potentially trigger a bullish reaction, although I'm cautious about its strength. However, my primary focus is on the daily supply zone. If price fails to reach the daily supply, it might delve deeper to interact with a stronger demand area, possibly sparking another bullish rally. In such a scenario, I'll align my trades with the prevailing uptrend, considering the recent pattern of higher highs and higher lows. Once price reaches the daily supply zone, I'll be prepared to enter significant sell positions. Confluences for buys are as follows: - Price has recently been in an uptrend, forming higher highs and higher lows. - Daily supply zone that needs to get mitigated eventually. - Good demand zones left that price might pick up another bullish rally from. - Liquidity to the upside as well as substantial imbalances that need mitigation. - price has also recently broke structure to the upside once again to confirm the trend. P.S. If price reaches the supply zone without eliciting a reaction from any of my demand points of interest (POIs), I'll patiently wait for a wyckoff distribution to develop on lower time frames before initiating my short positions. Have a great trading week guys!
Long
by Hassan_fx
GbpUsd at an important junctureIn my posts over the past month and a half, I've maintained a bearish stance on $FX:GBPUSD. However, despite reaching a low of 1.23, the pair reversed course and climbed back to 1.25+, failing to meet my prediction of reaching the 1.2 zone. Currently, GBPUSD is trading at 1.2540, marking a crucial point for this pair. While I typically don't present multiple scenarios for a trade, it's important to consider both possibilities at this juncture. 1. If the pair drops back below 1.2450, it would indicate a continuation of the downtrend and bring my initial target back into play. 2. Conversely, a rise above 1.26 could signal further gains, potentially pushing the pair towards 1.28.
by Mihai_Iacob
1
GBPUSD: Dollar steadies after falling overnight, nonfarm payrollThe dollar index and dollar index futures were both steady in Asian trading after falling 0.6% in overnight trading. Pressure on the USD comes from a strong yen, while Fed Chairman Jerome Powell reiterated that the bank will not raise interest rates further. However, the outlook for the dollar remains upbeat thanks to the prospect of a Fed rate cut being pushed back to at least the fourth quarter. The focus now turns to nonfarm payrolls data for April, released on Friday, for further signals on the economy and interest rates.
Long
by Chart_MasterPro
Coming up: BOE's rate decision week Coming up: BOE's rate decision week Morgan Stanley has asserted that the Bank of England might still opt for an interest rate cut in the coming week, a stance that stands out amidst dwindling market confidence in such a move. Morgan Stanley’s opinion diverges notably from the consensus, which suggests an initial rate cut by the BOE in September. Backing Morgan Stanley's perspective is the decline in U.K. inflation to 3.2% in March from the previous month's 3.4%, although it fell short of analysts' projections of 3.1%. Jens Eisenschmidt, Morgan Stanley’s chief economist, is adamant that rate reductions are on the horizon for both the U.K. and the ECB, while the Fed might adopt a more cautious approach for now. Meanwhile, the European Central Bank, which hinted at an impending rate adjustment last week, has cited escalating tensions in the Middle East as potential obstacles to these plans. Perhaps these same concerns weigh on the BOE? Technically, buyers of GBP/USD struggled to maintain levels above the resistance at the 200-day moving average, approximately at 1.2550. This scenario could potentially lead to a test of the recent cycle low observed at 1.2299. Conversely, if buyers manage to reclaim the 1.2500 level, they may challenge the 50-day moving average at 1.2612, followed by the April high at 1.2708.
by BlackBull_Markets