Gbpusdidea
GBPUSD Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBP/USD daily chart analysis, potential for a 250 Pip fallDear traders, if you look the daily chart in GBP/USD, the last few candlesticks
indicate that the bullish momentum is fading. Wicks at the top of the last three
candles indicate mounting bearish pressure.
Based on this, we can consider sell entries in GBP/USD@1.2730-1.2750
with SL above 1.2780 and TP at 1.2460 .
GbpUsd could test the recent high (Confirmation needed)After the recent high just under 1.29, GbpUsd started to drop, however, this drop hasn't altered the bullish trend that started at the end of May, and on Friday the pair reversed just from the trendline support.
The pair could resume its up move, but considering the price staled at the falling trend line resistance, confirmation is needed.
I'm slightly bullish as long as 1.26 is holding
GBPUSD Trade SETUP H4GBP/USD closed at the 1.2716 level. Based on my limited knowledge, the support area for GBP/USD is at 1.2700. If it breaks, the market may move towards the next support area at 1.2600. Similarly, the resistance area for GBP/USD is at the 1.2775 level. If it breaks, GBP/USD may reach 1.2850. Keep an eye on these levels. If a candle rejects the resistance area, you can sell and set the take profit at the support level. A stop loss of 35 pips is recommended. I hope your trades turn out to be profitable.
Disclaimer: The information provided is for educational purposes only and should not be considered as financial advice. Trading involves risks, and decisions should be made based on personal judgment and analysis.
GBPUSD 23June2023Currently the price is forming a bearish channel, sometimes I call it compression. usually if there is price compression like this, it will look for the strongest support area before continuing the impulse wave.
if you see the red area as daily support & fibo retracement area that intersects with each other, then there is a high probability that the price will respond positively to the area before continuing its bullish trend again.
Resistance at 1.267: Key Level to Watch After BoE Rate Decision The UK continues to struggle with high inflation, as demonstrated once again this morning when headline inflation exceeded expectations at 8.7%, surpassing the projected 8.4%. Core inflation also outperformed, registering a 7.1% figure compared to the expected 6.8%. This divergence emphasizes the contrast between the UK and its counterparts in the US and Europe.
Tomorrow, the Bank of England is set to announce its interest rate decision, and there are expectations of further tightening from the central bank. Given the elevated level of inflation, the bank may have little choice but to maintain a hawkish stance.
Last week, the GBPUSD initially tested the support level at the previous resistance of 1.250. However, that brief decline was followed by four consecutive days of significant gains, ultimately reaching a new high for the year.
There was a temporary resistance encountered at a critical level of 1.267. Following tomorrow's rate decision, this level could potentially act as a support area, particularly considering the slight pullback observed in recent days and the elevated RSI (Relative Strength Index).
On the other side of the trade, we have Federal Reserve Chair Jerome Powell's comments on the central bank's ongoing battle against inflation falling short of the market's more hawkish expectations.
During his testimony to lawmakers, Powell acknowledged that inflation remains significantly above the Fed's target and indicated that raising rates could still be a sensible course of action, albeit at a more moderate pace. Traders particularly took note of the term "moderate," which Powell used to qualify the potential rate increases. We still have one more day of testimony from Powell.
GBPUSD Potential ShortMarket have been on a bullish run for a while now. Retracement is expected and could possibly be the start of a bearish move so keep the stops tight.
Disclaimer:
All trade ideas are given for educational purposes and should not be treated as an investment advice, hence do your due diligence. Past results does not guarantee future results
BluetonaFX - GBPUSD Triangle OpportunityHi Traders!
There is a descending triangle setup here on the GBPUSD 1H chart.
This is a bearish setup, with the recent price action showing lower highs and lower lows. The support of the triangle is at 1.28038, and we are looking for a break and a close below 1.28038.
If we get this, then we are looking for a target at 1.27814, and below this, there is another target at 1.27678.
If we fail to break to the downside, then there are also opportunities to the upside. There was a previous price rejection at 1.28486, so the market might possibly target this level as a resistance test.
Please like, comment, and follow to support us, we greatly appreciate it.
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BluetonaFX
GBPUSD Forecast 18June2023if you look at the shape of the swing structure that occurs, at first glance it looks like a cup & handle pattern will occur. we only assume based on market habits, usually if a curve like this has been formed, another shape will occur.
At least we can anticipate, if you want to go long, it's better to wait until the price retraces in the H4/D1 Support area.
Looking at the position of the fibo extension, it also supports the analysis that this pair is likely to be bullish until the D1 Resistance area where the area is also the fibo extension point of 2,618.
GBPUSD BUYHi, according to my analysis of the GBPUSD market, there is a high potential for an uptrend. With the bearish flag broken. We also see a bullish channel forming. The price is now trying to breach the resistance at 1.25400, good luck to everyone .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