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Gbpusdshort

GBP/USD Analysis and Forecast Post-US CPIAs the GBP/USD pair continues its sideways movement, investors eagerly await the release of the United States Consumer Price Index (CPI) data for March. The outcome of this crucial economic indicator will undoubtedly influence market sentiments and provide insights into the Federal Reserve's potential actions regarding interest rates. However, amid this anticipation, it's imperative for traders to formulate strategies to navigate the landscape effectively. The current sideways movement of the GBP/USD pair, coupled with its reaction to key levels such as the 38.2% Fibonacci retracement and the presence of a bearish channel, underscores the importance of a comprehensive approach to trading. While technical analysis provides valuable insights into price action, it's equally essential to consider fundamental factors that could impact market dynamics. The slight improvement in the appeal for the Pound Sterling, driven by optimistic projections for the UK economy, adds another layer of complexity to the trading equation. The forecasts of modest growth, despite lingering geopolitical tensions and supply chain disruptions, highlight the resilience of the UK economy. However, it's essential to monitor upcoming economic releases, particularly the UK monthly Gross Domestic Product (GDP) and factory data for February, to gauge the economy's trajectory accurately. Looking ahead, traders should prepare for potential market volatility following the release of the US CPI data. A higher-than-expected inflation figure could fuel speculation about an earlier-than-anticipated interest rate hike by the Federal Reserve, potentially strengthening the US dollar against its counterparts, including the British pound. Conversely, a lower-than-expected CPI reading may prompt a reversal in market expectations, exerting downward pressure on the dollar and supporting the GBP/USD pair. In response to these potential scenarios, traders may consider adopting a balanced approach that incorporates both technical and fundamental analysis. Establishing clear entry and exit points based on key support and resistance levels, while also monitoring economic developments and central bank statements, can help mitigate risks and capitalize on trading opportunities. Furthermore, maintaining discipline and adhering to risk management principles are paramount in navigating the post-CPI market environment. Emotions can run high during periods of heightened volatility, leading to impulsive decision-making and potential losses. By maintaining a composed and rational mindset, traders can better execute their trading strategies and safeguard their capital. In conclusion, the upcoming release of the US CPI data presents both challenges and opportunities for GBP/USD traders. By leveraging a comprehensive approach that integrates technical analysis, fundamental insights, and prudent risk management practices, traders can navigate the market dynamics effectively and capitalize on potential market movements. As always, staying informed, adaptable, and disciplined remains key to success in the ever-evolving forex market landscape.
by FOREXN1
1
GBPUSD Analysis (12th April 2024) Market Analysis PT1/2 (12th April 2024) GBPUSD Analysis On the Weekly timeframe, price action yesterday took out the weekly low and retraced extremely hard. This shows that the weekly low that broke was more of a liquidity sweep, not a proper break of the low. On the 1 hour timeframe, i would like to see the 1 hour Fair Value Gap get tested. Once tested there are 2 scenarios that could play out. 1) Price rejects of the FVG, and creates a bearish Change of Character. This would created bearish confirmation for me to continue going short on this pair. 2) price breaks past the FVG with a body candle close above the FVG. In this scenario, i will be waiting to see how the candle playout to capitalise on longs to potentially play the pullback, retracing the move from CPI.
Short
by CallistoFX
GBPUSD trading sequence is lower highs and lows.GBPUSD - 24h expiry The medium term bias remains bearish. Trading within a Bearish Channel formation. The sequence for trading is lower lows and highs. Risk/Reward would be poor to call a sell from current levels. Bespoke resistance is located at 1.2615. We look to Sell at 1.2615 (stop at 1.2655) Our profit targets will be 1.2515 and 1.2480 Resistance: 1.2615 / 1.2665 / 1.2700 Support: 1.2515 / 1.2480 / 1.2445 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
The GBP didn't short itself. If one would have checked the recent flightlogs of the GBP performance he might have been astounded what he would discover: GBP emerges from the first trading week of the year as the strongest currency and the signs look great for a further rally of the pound: 🟢GBP Positive:🟢 - 🟢 The PMIs in the UK have recently surprised on the upside and so there is light at the end of the tunnel, in contrast to the European counterpart, which has only surprised with more and more negative PMIs - 🟢 Although wage pressure is falling, it remains high by international standards - 🟢 There are signs of a recovery in both retail sales and GDP for 2024 - 📊🇬🇧 Inflation will fall quickly and reach 2% mark as early as Q2 2024🟢 - 🟢 That said given the better economic performance it is doubtful whether the BOE will actually cut interest rates as early as its sister from the ECB -> 🟢 I think May would be a realistic scenario for a 1st rate cut by the BOE ✅️ But as every story that sounds to good to be true, the longterm outlook brings some serious concerns for the so far marvellous UK dream story: 🔴GBP Negative:🔴 - 🔴GDP was recently significantly weaker (-0.3) than expected (0.0) - 🔴Industrial production also surprised negatively in relation to expectations at 0.4 - 🔴However, the significantly weaker labour data recently, in which bonus payments in particular surprised to the downside and raised one question in particular, weighs even more heavily and will bring much more rate cuts forward than the BOE and the market are expecting right now. Conclusion: The outlook for the pound is starting to brighten, but overall the negative factors are likely to outweigh against the USD in the longterm and so I see a promising opportunity to short the GBPUSD (after another rally) from way above. The 1.32 - 1.33 zone would be ideal. (For everyone who made it this far I have an extra for you: A small quiz in the comments ;) If someone wants to buy the GBP now, a long trade in GBPCHF is a good idea, which I explain in my following trade idea here:
Short
by PrimeTrading
5
GBP USD Sell Confirm GBP/USD is the forex ticker that shows the value of the British Pound against the US Dollar. It tells traders how many US Dollars are needed to buy a British Pound. The Pound-Dollar is one of the oldest and most widely traded currency pairs in the world. Follow the live GBP/USD rate with the chart and keep up to date with Pound-Dollar news and analysis. Plan your trades with the GBP/USD forecast and key pivot points data and support and resistance levels. GBP/USD reverses its recent uptrend and accelerates its losses to the key 1.2600 level on the back of increased buying pressure in the US Dollar. The Relative Strength Index (RSI) on the 4-hour chart stays above 60, reflecting the bullish bias. More importantly, GBP/USD closed above 1.2660 on Tuesday, where the 20-day, 50-day and the 100-day Simple Moving Averages (SMA) converge. Confirm GBP USD signal
Short
by JohnHarry_7
Gbpusd shortGBP/USD is the forex ticker that shows the value of the British Pound against the US Dollar. It tells traders how many US Dollars are needed to buy a British Pound. The Pound-Dollar is one of the oldest and most widely traded currency pairs in the world. Follow the live GBP/USD rate with the chart and keep up to date with Pound-Dollar news and analysis. Plan your trades with the GBP/USD forecast and key pivot points data and support and resistance levels. GBP/USD edged lower in the early American session but managed to hold above 1.2650. The negative shift seen in risk mood, as reflected by falling US stocks, makes it difficult for the pair to stretch higher. The USD risk is skewed to the upside, as recent US data has endorsed a “no landing” scenario, that would be confirmed in case of another upside surprise on inflation. Recent hints on wage growth and industrial prices are pointing to resilient inflation. The technical picture shows the Pound under an increasing momentum, although the failure to confirm above the 1.6680-1.6700 area leaves the broader bearish trend intact. On the downside, supports are 1.6575 and 1.6535.
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by Mark804
GBPUSD Trade Idea - Important Points To ConsiderIn the video, we analyse a potential trading opportunity for the GBPUSD. We delve into the prevailing trend, examine price movements, evaluate market structure, and pinpoint a potential entry point based on favourable conditions (if they arise), as outlined in the video. Additionally, I discuss my risk management strategy. Traders who lack a robust risk management plan expose themselves to significant risk and often encounter negative trading outcomes. It is crucial to incorporate sound risk management principles into your trading strategy. As always, please be aware that this information is strictly for educational purposes and should not be construed as financial advice.
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by fxtraderanthony
GBPUSD CHARTGBP/USD is the forex ticker that shows the value of the British Pound against the US Dollar. It tells traders how many US Dollars are needed to buy a British Pound. The Pound-Dollar is one of the oldest and most widely traded currency pairs in the world. Follow the live GBP/USD rate with the chart and keep up to date with Pound-Dollar news and analysis. Plan your trades with the GBP/USD forecast and key pivot points data and support and resistance levels. GBP/USD benefits from the improving risk mood and trades above 1.2600 in the American session. Earlier in the day, stronger-than-forecast NFP growth data from the US provided a boost to the USD and weighed heavily on the pair. The Relative Strength Index (RSI) indicator holds slightly above 50 and GBP/USD closed above the 200-day Simple Moving Average (SMA) for the second straight on Tuesday. The pair, however, failed to clear the 100-day SMA at 1.2670. In case GBP/USD flips 1.2670 into support, technical buyers could show interest. In this scenario, 1.2710 (Fibonacci 50% retracement of the latest downtrend) could be seen as first resistance before 1.2750 (Fibonacci 61.8% retracement).
Short
by Mark804
GBPUSDGBP/USD is the forex ticker that shows the value of the British Pound against the US Dollar. It tells traders how many US Dollars are needed to buy a British Pound. The Pound-Dollar is one of the oldest and most widely traded currency pairs in the world. Follow the live GBP/USD rate with the chart and keep up to date with Pound-Dollar news and analysis. Plan your trades with the GBP/USD forecast and key pivot points data and support and resistance levels. GBP/USD clings to marginal daily gains above 1.2550 in the second half of the day on Tuesday as the US Dollar fails to build on Monday's upside. Earlier in the day, the upward revision to the UK Manufacturing PMI supported Pound Sterling. The 200-day Simple Moving Average (SMA) aligns as stiff resistance at 1.2590. In case GBP/USD fails to clear that level, technical sellers could remain interested. On the downside, static support seems to have formed at 1.2540 before 1.2520 (beginning point of the latest uptrend) and 1.2500 (psychological level).
Short
by Mark804