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Gbpusdshort

GBPUSD Shorts from 1.25500 down towards 1.24000This bias for GBPUSD this week is not as clean in terms of price entering an ideal zone however, it's still a possibility that could happen so let's look at how we could sell GU. As we know this market has been in a small uptrend recently but, I am still overall bearish (looking at the HTFs) Therefore, I would be waiting for price to enter a near by supply so we can at least sell down towards a demand zone to continue the temporary bullish trend. Currently, it is approaching a 9hr supply that has caused a small BOS to the downside and price will require some sort of pull back to continue going upwards, hence why this is a counter trend idea. We are also reaching a psychological level of 1.25500 which is another good sign to anticipate a reaction, as this would tell us if price would want to retrace or keep pushing higher. Confluences for GBPUSD shorts are as follows: - Price approaching 9hr supply zone that has caused a BOS to the downside. - The zone also lies between a psychological key figure of 1.25500. - Pending correction is likely to happen due to the impulse move that has been taken place. - Lots of liquidity left below in the form of asian lows and there is huge imbalances as well. - Overall market trend for GU is bearish according to the monthly/weekly time frame. - Price has swept lots of liquidity already to the upside and momentum is dying down slowly. P.S. As price still looks pretty bullish I won't be surprised if this zone doesn't hold however, there is also better supply zones above like the 15hr which looks more probable. For now we will wait for our Wyckoff distribution to play out & see if price gives us an entry model for sells.
Short
by Hassan_fx
1
GBPUSD: The British Conservative Party eyes tax cuts in the budgThe Sunday Times reported: Britain's Chancellor of the Exchequer Jeremy Hunt is considering cutting income tax and national insurance in a bid to improve his standing in the polls. Jeremy Hunt told Sky News: “We want to responsibly reduce our tax burden.” "The only thing we won't do is not give any tax cuts that could cause inflation." It could allow heirs to defer taxes and consider instead giving tax breaks to low- and middle-income earners.
Short
by Chart_MasterPro
2
💡 GBPUSD: Bearish Butterfly wing pattern appears➡️ GBPUSD is maintaining its upward momentum, however in the H4 frame it is creating a butterfly pattern The Bearish Butterfly pattern will start with a XA downtrend, then an AB uptrend, a BC downtrend, and finally a CD uptick again. With this move combined with the corresponding ratios and Fibonacci levels according to the above rules, the market expects a downward trend from point D. The Bearish Butterfly model has a shape similar to the letter W. - Upcoming economic calendar: BOE Gov Bailey Speaks
Short
by Stone_Haven
2
GBPUSD LONG TERM Buying IDEAHello Traders In This Chart GBPUSD HOURLY Forex Forecast By FOREX PLANET today GBPUSD analysis 👆 🟢This Chart includes_ (GBPUSD market update) 🟢What is The Next Opportunity on GBPUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the ChartS
Long
by ForexPlanet20
2
💡 GBPUSD: Nice scenario for downtrend➡️The latest data indicates a significant decline in the UK's annual Consumer Price Index (CPI) rate, dropping from 6.7% in September to 4.6% in October. This marks the lowest figure in two years, falling below the consensus estimates of 4.8%. The notable decrease in CPI reflects a downward trend in inflation, primarily attributed to the impact compared to the same period last year and a decrease in energy prices. ➡️This development suggests that there is potential for the central bank to initiate interest rate cuts by the end of 2024. However, the decision hinges on various factors, including the strength of the labor market and the overall economic conditions. ➡️In response to the released data indicating a more substantial than expected cooling of UK inflation in October, there is a possibility of a decline in GBP/USD. This further reinforces expectations that the Bank of England may implement interest rate cuts by the middle of the next year. Observations on the H4 chart reveal the GBP/USD price approaching the 48-hour moving average, and the MACD histogram bar contracting, indicating potential market adjustments.
Short
by Stone_Haven
GBPUSD: Dollar rises in European session; Pound depreciatedWeak US CPI weighs on dollar The dollar took a big hit on Tuesday after data showed U.S. consumer prices were flat in October after rising 3.7% in September, while the dollar rose 3.2% year-on-year. , fell below expectations. The stability of inflation is the most important factor in predicting the Fed's chances of maintaining its tightening stance, especially after inflation rose more than expected in August and September. Indeed, Fed officials are keen to maintain tight monetary policy ahead of the latest data release. As a result, slowing inflation is weighing heavily on the dollar as traders assess the likelihood of rate hikes this year and focus on when the Fed will start cutting rates. "We still think the decisive blow to the dollar will come from a decline in activity data, which could cause the market to calm down," ING analysts said. Further improvement is expected based on an assessment of the trend toward lower interest rates. “That’s why we’re interested in retail sales.” U.S. retail sales data for October will be released later in the session, but analysts expect retail sales to decline 0.3% from the previous month, when retail sales rose 0.7%. Pound depreciates as UK inflation rate declines In Europe, GBP/USD fell 0.2% to 1.2475, below levels last seen in September, after UK inflation slowed more than expected in October, providing some relief. It went below. Support from the Bank of England. UK CPI rose at an annual rate of 4.6% in October, down sharply from 6.7% in September and the smallest increase in the past two years. The Bank of England recently paused its rate hike cycle, raising the key interest rate to 5.25%, the highest level since the 2008 financial crisis, but officials have consistently said they will continue to cut interest rates despite the weak economy. has emphasized that it is still a long way off. heading towards a recession.
Short
by Chart_MasterPro
200 Pips Juicy sell set-up in GBP/USD. Who is with me?Hello, Tradingview community and fellow traders! Many traders were probably caught off guard by yesterday's huge bullish impulse in GBP/USD. If I remember correctly, GBPUSD moved more than 200 pips during the New York session yesterday. The move was fueled by the CPI data release from the US. Honestly, I was prepared for a move to 1.2420 but I didn't think it would reach 1.25. That being said, I expect a fall pretty soon. You know back during the 2016-2018 period, huge moves of 200 pips in GBPUSD and 300 pips in GBPJPY were pretty common almost every week due to Brexit-related news. However, this has become a rarity now. So, it was a pleasant surprise yesterday I guess :D Well, based on my 15 years of experience, I can say with up to 90% certainty that GBPUSD would reach at least 1.23 before the end of the week, I hope ;) I have already sold at 1.2470 and 1.25, no SL yet but TP is at 1.23
Short
by YourLazyTrader
5