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Gbpusdanalysis

GBP/USD rises 70 pips from the lows but meets hourly resistanceHello traders, the 1.24 level has remained unbroken so far in GBP/USD. There have been quite a few bounce-ups from this level. GBP/USD rose up by 70 pips after touching the lows at 1.2407. However, the small bullish impulse has meet with the hourly resistance at 1.2480 level and moved lower. So the immediate hurdle for the bulls is at 1.2480 level . Bulls need to break this level and consolidate above it for uptrend to continue. At current price levels, it is better to avoid trading as the price action looks messy at the moment.
by KaltoireCapital
6
GBPUSD - Feb. 19th, 2024GBPUSD - Feb. 19th, 2024 By request. BUY/LONG ZONE (not shown): Starts at 1.26250, adjustable to channel low. DO NOT TRADE/DNT ZONE (not shown): 1.25910 - 1.25250, adjustable to channel levels. SELL/SHORT ZONE (not shown): Starts at 1.25910, adjustable to channel high. Weekly: Bullish Daily: Bearish 4H: Bullish 1H: Bearish Weekly: Bullish, bearish if there's a close below 1.25350. Daily: Bearish, supporting structure & breakdown of zone but respect to level below. 4H: Bullish structure with ascending channel. 1H: Bearish but has respect to channel low. I personally would not trade this at the moment but if I had to I'd go short just because high frame respect to zones and most recent low frame pushes. Keys here are the zone that the daily frame broke and respected and the channel drawn on the 4H. Bulls should want to see the channel respected into a breakout of the zone around 1.26250 - 1.26350. Bears should want a breakdown of the channel lower level or a rejection of the zone bottom at 1.26250 or a breakdown of structural lows at 1.25910. This is what I would personally look at before entering trades, everything is subject to change on a daily basis and as I analyze different timeframes and ideas. ENTERTAINMENT PURPOSES ONLY, NOT FINANCIAL ADVICE!
Short
by TonyAiello
3
GBPUSD $GBPUSD - Mar. 12th, 2024GBPUSD FX:GBPUSD - Mar. 12th, 2024 BUY/LONG ZONE: 1.27970 - 1.29425 DO NOT TRADE/DNT ZONE: 1.27550 - 1.27970 (Extended area would be 1.26950 - 1.27970) SELL/SHORT ZONE: 1.25355 - 1.26950 (Extended area would be 1.25355 - 1.27550) Weekly: Bullish Daily: Bullish 4H: Bearish 1H: Bearish Previous bullish target is shown and for the visual I did extend it on the screen. The expanded DNT and bearish zones are shown for either later or earlier entries, just depends on how the lower timeframe structure develops. Some lower timeframe levels and zones are drawn in a lighter blue for some reference areas on when to enter. There is no indication on the weekly and daily timeframe other than current momentum that the price is going to turn bearish. Dropping down to the 4H timeframe: structure has turned bearish and has broken down through the zone that was used to determine the bullish zone. Dropping down to the 1H timeframe: price has created clear bearish structure and is currently holding, with a retest of the previous low, now the current structural lower high. Bears can enter as soon as 1.27550 or wait for a later entry around 1.26950, both are displayed on the chart. Bulls should wait for structural reversals to develop on the 1H/4H timeframes and/or for price to break back above 1.27970. trend analysis, technical indicators, support and resistance, gbpusd, gbpusdlong, gbpusdshort, gbpusdanalysis, gbpusdtrend, trendtrading, pounddollar, gu, gulong, gushort, forex, fx, FX:GBPUSD
by TonyAiello
GBPUSD: False Break Prompts Bullish MomentumCurrently, GBPUSD has exhibited a false break of structure, commonly known as Turtle Soup, suggesting a potential bullish draw towards the daily Fair Value Gap (FVG) . Price has retested an m15 bullish order block, indicating a possible bullish continuation. Alternatively, price may reach the H1 Order block, where a confirmation entry can be sought for a buy opportunity. Please note that I will be closing my trade at 12 PM NY Time as I cease trading for the day. Kind Regards, The_Architect
Long
by The_Archi-tect
GBP/USD Reversal Analysis: Potential Reversal at Near-Term SuppoThe GBP/USD currency pair has shown signs of potential reversal as it approaches a critical support level. A detailed analysis suggests that a bullish reversal may be imminent. Technical Analysis: Support Level: The pair is currently approaching a significant support level, indicating a potential area for a reversal. This support level has historically shown resilience and could act as a launching pad for a bullish movement. Bollinger Bands: The Bollinger Bands indicator also suggests a potential reversal, with the price approaching the lower band. This could indicate oversold conditions and a possible bounce back towards the upper band. RSI (Relative Strength Index): The RSI is showing signs of divergence, with the price making lower lows while the RSI is making higher lows. This divergence often precedes a reversal in price direction, adding weight to the bullish case. Trade Recommendation: Entry: Consider entering a long position near the support level, ideally after confirmation of a bullish reversal pattern such as a bullish engulfing candlestick pattern or a bullish divergence on lower time frames. Stop Loss: Place a stop loss below the support level to manage risk in case of a breakdown. Target: The initial target could be set at a resistance level or a previous swing high, with potential for further upside if the bullish momentum strengthens. Disclaimer: Trading forex involves substantial risk of loss and is not suitable for all investors. The analysis provided here is for informational purposes only and should not be construed as investment advice or a recommendation to trade. Always perform your own due diligence and consult with a qualified financial advisor before making any investment decisions. Past performance is not necessarily indicative of future results. Trading carries risks, and it's essential to only trade with capital you can afford to lose.
Long
by Maven_Trader24
GbpUsd- Correction could offer us a good sell entryIn my post from last week regarding FX:GBPUSD , I mentioned my anticipation of a drop below the 1.25 support zone, along with an expectation for a continuation of the downtrend by 500 pips. These expectations remain unchanged. Moreover, with recent inflation data released from the UK surpassing expectations, there's a possibility of a relief rally being triggered. I plan to capitalize on this correction by initiating short trades, primarily focusing on levels above 1.25. A deviation from this outlook would occur with a daily close above 1.2650. As previously stated, my medium-term target for GBPUSD is the 1.2 zone.
Short
by Mihai_Iacob
3
GBPUSD: Bearish Momentum Persists, Targeting Daily Sell StopsCurrently, GBPUSD demonstrates a persistent inclination towards the sell side, targeting the Daily sell stops . Having interacted with an m15 order block, a liquidity void has been filled. Now, a potential retest of the order block is underway, with price currently trading within a rejection block. This setup may serve as confirmation for further selling activity. Alternatively, if this scenario fails to materialize, selling against the m15 Buy Stops becomes a viable strategy, awaiting confirmation for entry. Kind Regards, The_Architect
Short
by The_Archi-tect
DeGRAM | GBPUSD rebound from supportGBPUSD continues to move in the descending channel after rebounding from the support level. The chart formed a bullish takeover near the support level. The fall that occurred after the formation of two tops reached the level coinciding with the fibbonacci retracement level. We expect a rebound to the retracement level after retesting the nearest support level. ------------------- Share your opinion in the comments and support the idea with a like. Thanks for your support!
Long
by DeGRAM
1
Last chance for the GBP/USD bulls, key S/R levelsHello traders, GBP/USD has fallen massively post the US CPI data release last week. While I expected price to fall upto the 1.2520 zone, I did not expect the 1.12520 horizontal support to break down. Looking at the chart, we can plot a price channel and currently, the price seems to be at the lower trend line of the price channel. So, in my opinion, this is the last level which the bulls must defend. If the 1.2440 level holds, then we can consider buying GBP/USD@1.2440-1.2460 with targets at 1.2520 and 1.2580 respectively.
by KaltoireCapital
4
GBPUSD → Trade Analysis | BUY SetupHello Traders, here is the full analysis. Watch strong action at the current levels for BUY . GOOD LUCK! Great BUY opportunity GBPUSD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
1