Get started

Gbpusdlong

FOMC Minutes in the Charts: EUR/USD & GBP/USDDuring their June meeting, minutes released on Wednesday indicated that almost all Federal Reserve officials expect further tightening in the future. Despite the majority's belief in upcoming rate hikes, policymakers chose not to increase rates due to concerns about over-tightening. They acknowledged the delayed impact of previous policies and other factors, which led them to skip the June meeting after implementing ten consecutive rate increases. Out of the 18 participants, all but two anticipated at least one rate hike to be appropriate within this year, while twelve members expected two or more hikes. The prevailing consensus that the US central bank will raise borrowing costs by 25 basis points at the end of the July policy meeting has lent some strength to the US Dollar and exerted downward pressure on the GBP/USD and EUR/USD. The DXY (US Dollar Index) surged above 103.30, reaching its highest level of the week. EUR/USD further declined to the 1.0850 region. The outlook for the Euro has turned negative as the EUR/USD pair dropped below the 20-day simple moving average (SMA). If the GBP/USD pair falls below 1.2700 and confirms that level as resistance, the next potential bearish targets could be 1.2680, 1.2658, 1.2647 according to fib retracement levels and previously pivot points.
by BlackBull_Markets
2
Fair Value Gap Strategy (FVG): GBPUSD 7.32x Reward TradeCheck out this 7.32RR trade I took today on GBPUSD. OANDA:GBPUSD Trade Process: Daily is bullish with FVG serving as draw on liquidity. 1HR: Took out Sellside liquidity left with BuySide liquidity to take out. 15M: London Session open took out 15M sellside liquidity with high probability of taking out Buyside liquidity. Entry: I used my fib to locate OTE at the FVG which is where i placed my buy limit. Price retraced to pick my order and fly high to take out the buyide liquidity and the daily FVG.
Education
by Elijahenoch7
2
GBP/USD pulls back into key support clusterGBP/USD has pulled back from its highs and looks like it wants to build a base above the May 2022 high. An inverted hammer formed on the daily chart around the 10-day EMA and momentum has turned higher ahead of the European Open. The near-term bias remains bullish above Friday’s low and for an initial move to 1.2800 or around the 1.2850 highs. A break above which brings the 1.29 handle into focus, just below the upper 1-week implied volatility band.
Long
by CityIndex
GBPUSD H1: Bullish outlook seen, further upside above 1.2820Price was range-bound between 1.2700 and 1.2750 but has recently broken out consolidation. Price is now hovering above a key support zone at 1.2720, which nears the 61.8% Fibonacci retracement, on H1 timeframe. A throwback to this zone could present an opportunity to ride the bounce to the resistance zone at 1.2820, which coincides with the 161.8% Fibonacci extension. Price is above ichimoku cloud, supporting our bullish bias.
Long
by T3-Consultancy