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Gbpusdshort

GBPUSD remains bearish British inflation has slowed slightly, but only slightly; the Bank of England is expected to keep interest rates unchanged at its November meeting; technical analysis shows favorable signs for sterling bears. It is very difficult for the Bank of England to combat inflation. Can the pound continue its rise in the fourth quarter? Sterling fundamentals background UK CPI data showed that both overall and core CPI continued to fall, although the results were higher than expected. The performance of the inflation data was generally in line with expectations, but showed that inflationary pressures in the British economy still have some resilience. Rising oil prices, driven by higher motor fuel prices, were the biggest factor driving the annual increase in inflation, while inflationary pressures on food and non-alcoholic beverages and furniture and household goods increased modestly. The decline in UK PPI is expected to cool inflation in the future as it is a leading indicator of CPI. The Bank of England will now be monitoring the performance of this data ahead of its November meeting. The pound strengthened against the dollar following the data, but currency market pricing suggests market expectations have not changed (as shown in the chart below). Markets still tend to predict that Bank of England interest rates will remain unchanged at its November meeting, while other central banks around the world may do the same as geopolitical conflicts in the Middle East escalate. Next, UK employment data to be released on October 24 will be closely watched for clues on the Bank of England's next move. Price action on the daily chart shows GBP/USD trading in a bearish flag formation, with the pair trading around the psychological 1.2200 mark. Bears will likely be hoping that the moving average cross will push the price below the support of the flag and allow the price to fall further towards the lower support zone. From a momentum perspective, the RSI indicator is also pointing to a bearish outlook as it remains below the neutral level, suggesting that prices may be heading lower. How to efficiently chase the rise and kill the fall? Use the RSI indicator to identify entry and exit points! Key resistance levels: • 50-day/200-day moving average • Flag resistance • 1.2308 Key support levels: • 1.2200 • Flag support • 1.2100 • 1.2000 • 1.1804 IG Client Sentiment Index: Bearish The IG Client Sentiment Index shows retail traders are currently net long GBP/USD, with around 69% of traders holding long positions at the time of writing
Short
by Krause_Philipp
GBPUSD 4H : Support further decline GBPUSD New forecast The pound sterling pair against the dollar was unable to exceed the moving average 50, to trade with noticeable negativity and began to put pressure on the pivotal support level 1.2108, and by looking closely at the chart, we find that the price forms a head and shoulders pattern whose confirmation level is located at the aforementioned support, which means that breaking it will constitute an incentive. Negative. We expect the price to push to achieve negative targets starting at 1.2062 and extending to 1.2016. Therefore, we are likely to witness more negative trading during the coming sessions, keeping in mind that breaching 1.2159 will stop the expected decline and lead the price to recover again. The expect range trading for today it will be between the resistance line 1.2122 and support line 1.2016. Additionally ,Today News will affect the market . support line : 1.2062 , 1.2016 resistance line : 1.2122 , 1.2159 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Short
by Arazmajeed
3
GBPUSD LONG TERM BUY 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
GBPUSD 4H : Below 1.2173 will drop again GBPUSD New forecast The British pound against the dollar traded positively after completing the formation of the falling wedge pattern referred to yesterday, and we expect the bearish tendency to continue to achieve additional negative targets up to 1.2122 and 1.2108 . Therefore a bearish bias will be likely for today but to confirm the bearish trend the price should stable under 1.2173 and then our targets will be activate ,Taking into account exceeding the 1.2216 level will stop the negative scenario and put pressure on the price to turn higher. The expect range trading for today it will be between the resistance line 1.2192 and support line 1.2108. Additionally ,Today News will affect the market . support line : 1.2123 , 1.2108 resistance line : 1.2173 , 1.2192 Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Short
by Arazmajeed
GBPUSD 4H Midday update GBPUSD The pound sterling pair against the dollar focused on the breached resistance of the descending channel and rebounded upward to resume the expected upward corrective path in the immediate term. stabilizing above 1.2172 will support rising to touch 1.2213 then 1.2248 then 1.2292 stabilizing under 1.2172 will support falling to touch 1.2124 then 1.2077 pivot price: 1.2172 Resistance prices: 1.2213 & 1.2248 & 1.2292 Support prices: 1.2124 & 1.2077 & 1.2047 The general trend expected for today: bullish timeframe: 4H
Long
by Evar_Mayi
2
GBP/USD Reverses - Short Trading SignalGBP/USD Short Trading Opportunity 1. The price closed below the Trend Magic Indicator line. 2. US Dollar Index DXY uptrend continues. 3. Vortex indicates downtrend signal. 4. Retail trader data shows 72% of traders are net-long. Strong contrarian short signal. SL - above the Trend Magic Indicator line or Vortex indicator change trend signal TP1 - 1.2040 TP2 - 1.1810 Keep It Simple and Always Trade With the Trend! Please, Support Our Work with Like & Comment! Thank You!
Short
by ForexWithTsanev