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Gbpusdidea

BluetonaFX - Potential Head & Shoulders OpportunityHi Traders! There is a potential Head & Shoulders opportunity here on the GBPUSD 1D chart. The market looks to be approaching the neckline, and we are now looking for a break and a close below the neckline with momentum to target lower levels. If we get a break and close of the neckline, we have the first profit target level at 1.26800, and if you want to hold on for a larger risk-reward trade, our second target level is at 1.25000. The confirmation signal for entry will be to either wait for a momentum break and close to the neckline or to wait for a break below with a retest of the neckline. We must get this for the potential opportunity to be fulfilled. On the other side of the trade, if we fail to break and close below the neckline, we will most likely go back to the upside to retest 1.30000. We will keep a close eye on this and will update you if we get any further action on this setup. Please make sure you give us a like, follow, and comment. Thank you for your support. BluetonaFX
by BluetonaFX
2
BluetonaFX - GBPUSD Potential 1.30000 Retest OpportunityHi Traders! There is potential for a retest of the psychological 1.30000 level on the GBPUSD. We can see here on the 1D chart that the market has been extremely bullish since the long-term resistance break of the 1.28486 level. We have had a price rejection at the 1.31424 level, and the market has now broken below the 1.31000 handle, which provides opportunities for possible shorts back to 1.30000. If we get a pullback to 1.30000 and the level does not hold, there is another target at 1.28486; this is the level that the market broke out from, leading to the push towards 1.31424. Keep stops tight here; if the market continues to the upside instead and 1.31424 breaks, the market is likely to continue towards 1.32000, and we will look for buying opportunities instead. Please do not forget to like, comment, and follow, as your support helps us greatly. Thank you for your support. BluetonaFX
by BluetonaFX
4
GBPUSD Critical Pointthe pair is in a rising wedge and can make a good decision about the side to move as we could see in past the price was showing some divergence with MACD (linked) and being in a rising wedge could be a good sign to short it but from the other side we can see that it has broken the resistance and it is currently retesting it from the above so if it stands as a support we can be longing it too. better to have an eye on DXY as well (Linked) we believe it is better to wait and see which side it is finalizing and then surf it to the defined TP.
by BitonGroup
8
GBPUSD: CPI today with profit?After a volatile day of trading on Monday, GBP/USD is struggling to break free from the 1.3100 level on Tuesday as investors are cautious about making big moves before important economic data is released. Although GBP/USD experienced minor losses on Monday, the improved risk sentiment in the US session helped to minimize the losses. In the morning, the UK's FTSE 100 Index rose by 0.3%, while US stock indexes remained relatively stable, which enabled GBP/USD to maintain its position.
Short
by Sphyn-Trader
11
GBP/USD Breakouts as UK Battles Inflation and Economic ChallengeRecent reports have indicated that the United Kingdom is facing its highest inflation levels in years, with various factors contributing to this uptrend. While this may raise concerns for some, as astute traders, we know that volatility often presents opportunities for substantial gains. The GBP/USD pair has become an enticing market to explore, reflecting the ongoing struggle between inflationary pressures and economic data. You might be wondering, "Why should I consider adding GBP/USD market orders to my trading strategy?" Well, dear traders, the answer lies within the potential for significant profits derived from this exciting market. By closely monitoring the UK's economic landscape and keeping a keen eye on inflationary trends, we can seize the moment and capitalize on the fluctuations of the GBP/USD pair. So, let's dive into the call to action! I encourage you to take advantage of this moment and consider adding GBP/USD market orders to your trading repertoire. By doing so, you position yourself to potentially reap the rewards of the UK's highest inflation levels and the impact of poor economic data on the pound. As we navigate these challenging times, let us remember that adversity often breeds success for those willing to take calculated risks. To maximize your potential gains and minimize risks, I recommend conducting thorough research, staying updated with the latest news, and utilizing technical analysis tools to identify breakout points and establish appropriate stop-loss levels. Remember, knowledge is power, and a well-informed trader is successful!
by bryandowningqln
GBPUSD Sell Idea. Detailed Technical Analysis.Technical Overview The GBP/USD pair is showing a bullish trend as I draw in the chart, but it could face a bearish backlash at the 1st resistance at 1.31400, a level that has resisted multiple swings in the past. If that happens, the price could fall to the 1st support at 1.30000. This level is a pullback support, meaning it could attract some buyers. Further down, the 2nd support at 1.2847 is another pullback support, indicating more possible buying interest. On the other hand, if the price rises, it could meet selling pressure at the 2nd resistance at 1.32800, a level that overlaps with previous resistances, which could trigger a price reversal. Fundamental point of View The US inflation rate was expected to drop from 4% to 3%, but no one thought it would happen so soon. Everyone was betting on a more gradual decline, maybe to 3.1%. This dampened the appetite for the US dollar. But the reality was even more surprising, as inflation fell to 3.0%. This convinced everyone that the Federal Reserve would only raise the interest rate one more time. Some even speculated that the Fed might pause its policy tightening. It’s possible that by the end of the year, the interest rate in the US will start to go down. And the dollar immediately lost value, even though it was already quite cheap. So, it’s time to think about a bounce or a minor correction. But there needs to be a good reason for that. Officially, this role was assigned to the UK industrial production report. UK’s industrial production kept shrinking as it dropped 2.3% in May. This was slightly better than the predicted 2.4%. But now investors are more worried about the interest rate gap. So, further shrinkage in industrial production only slowed down the dollar’s weakness a little bit. But this could lead to a corrective movement, maybe with some delay. So, a rebound seems more likely. But before that, the market will stay calm for a while. The UK unemployment data did not bother the traders this week. Neither did the GDP and industrial production data yesterday. The US inflation report is surely more relevant, but the pair has been on the rise for three days, ignoring everything else. The GDP shrank by 0.1% in May, less than the expected -0.2-0.3%. The industrial production slipped by 0.6%, despite more hopeful forecasts. So, both reports were disappointing, but the pound kept climbing since the morning. Such a climb can only end when the bullish traders are happy and start taking profits. The bulls are gaining momentum, but this could backfire on them. The faster the move, the sooner it will end and the harder the retracement. The highs and lows are still rising. According to my point of view a strong reversal signal is expected soon and a break below the last trend line will favor the US dollar. Conclusion My advice to traders is to trade GBPUSD only at the key levels and wait for the trend lines to break. Also keep an eye on the fundamentals as I expect GBP to drop in September. Another strategy to go short is to wait for the 50EMA and 200SMA crossover.
Short
by AhsanTufail
GBPUSD Sell Key Levels Updated. A Detailed Technical Analysis. Technical Overview The GBP/USD pair is showing a bullish trend as I draw in the chart, but it could face a bearish backlash at the 1st resistance at 1.31400, a level that has resisted multiple swings in the past. If that happens, the price could fall to the 1st support at 1.30000. This level is a pullback support, meaning it could attract some buyers. Further down, the 2nd support at 1.2847 is another pullback support, indicating more possible buying interest. On the other hand, if the price rises, it could meet selling pressure at the 2nd resistance at 1.32800, a level that overlaps with previous resistances, which could trigger a price reversal. Fundamental point of View The US inflation rate was expected to drop from 4% to 3%, but no one thought it would happen so soon. Everyone was betting on a more gradual decline, maybe to 3.1%. This dampened the appetite for the US dollar. But the reality was even more surprising, as inflation fell to 3.0%. This convinced everyone that the Federal Reserve would only raise the interest rate one more time. Some even speculated that the Fed might pause its policy tightening. It’s possible that by the end of the year, the interest rate in the US will start to go down. And the dollar immediately lost value, even though it was already quite cheap. So, it’s time to think about a bounce or a minor correction. But there needs to be a good reason for that. Officially, this role was assigned to the UK industrial production report. UK’s industrial production kept shrinking as it dropped 2.3% in May. This was slightly better than the predicted 2.4%. But now investors are more worried about the interest rate gap. So, further shrinkage in industrial production only slowed down the dollar’s weakness a little bit. But this could lead to a corrective movement, maybe with some delay. So, a rebound seems more likely. But before that, the market will stay calm for a while. The UK unemployment data did not bother the traders this week. Neither did the GDP and industrial production data yesterday. The US inflation report is surely more relevant, but the pair has been on the rise for three days, ignoring everything else. The GDP shrank by 0.1% in May, less than the expected -0.2-0.3%. The industrial production slipped by 0.6%, despite more hopeful forecasts. So, both reports were disappointing, but the pound kept climbing since the morning. Such a climb can only end when the bullish traders are happy and start taking profits. The bulls are gaining momentum, but this could backfire on them. The faster the move, the sooner it will end and the harder the retracement. The highs and lows are still rising. According to my point of view a strong reversal signal is expected soon and a break below the last trend line will favor the US dollar. Conclusion My advice to traders is to trade GBPUSD only at the key levels and wait for the trend lines to break. Also keep an eye on the fundamentals as I expect GBP to drop in September. Another strategy to go short is to wait for the 50EMA and 200SMA crossover.
Short
by AhsanTufail
GBPUSD - daily outlookIn my analysis of GBPUSD, I have identified a bullish outlook with a potential target at 1.29078 & 1.29785 GBPUSD has been exhibiting a series of higher highs and higher lows, indicating upward momentum. The recent price action suggests a bullish bias, with the pair gaining strength against the US dollar. Remember to set appropriate stop-loss orders and manage your risk effectively. The forex market can be volatile, and it's crucial to adapt your strategy if market conditions change.
Long
by saintmaximuz