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Gbpusdtrade

GBPUSDPrice have been in a bearish momentum for a while now. Although it is too early to say, price looks like it is forming a double bottom at this time and if that holds, we just might see a push up towards the 1.27500 area. But then again, it is too early to decide that as price could continue to push lower. Before I make a trading decision, either bullish or bearish, here is what I would love to see: I will go long IF AND ONLY IF Price breaks above the immediate resistance around the 1.25003 area and retests same zone. I will short the market IF AND ONLY IF Price breaks below the immediate support around the 1.24507 and retests same zone Until either one happens, we keep the fingers crossed and wait for the move. 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
by Mbjoey
GBPUSD, Further ShortOn the Weekly time frame, the last two daily candles closed below the EMA-200 dynamic support in a descending price channel within a monthly falling wedge. There was a breakout of the falling wedge which under normal circumstances would have been a bullish start at the base of it, but this decline was as a result of the rising DXY index over the week past. The retest into the wedge by the last daily candle was resisted by the EMA-200 support. This signifies huge declines in the coming days. The upside swing of the DXY index is also evident backing further declines of the GBPUSD. Resistance: 1.25331 Support: 1.23083, 1.22743, 1.21523
Short
by AbeikuGlobal_FX
1
GBPUSD: 500 PIPS SETUP❤️Dear Traders, USD has been strong lately and market has been messy due to recent economic data, however, after todays strong GBP news we think in coming weeks GBP will be extremely bullish whereas we expect DXY to remain bearish for longer term. Let’s wait and see how it works out. Our main aim here is to wait for price to come to our area which has higher possibility that it may drop hard later this week. If not price may break -through trend-line.
Long
by Setupsfx_
39
GBPUSD Technical Analysis and Trade IdeaThe GBPUSD currency pair is currently experiencing downward pressure and has reached a significant support level. In the accompanying video, we will explore a couple of trading ideas that relate to a potential selling opportunity. Our discussion will encompass various elements of technical analysis, including analyzing the prevailing trend, assessing price action, evaluating market structure, and addressing other critical aspects. I want to emphasize that the video content is provided for educational purposes only and should not be considered as financial advice. Trading in the currency markets carries inherent risks, so it is imperative to implement robust risk management measures to safeguard your capital.
Short
by tradingwithanthony
GBPUSD 30M ZONE MARKINGSupport Levels: Support 1 @ 1.25490: Our journey begins with Support 1, nestled at 1.25490. This level is the first line of defense for GBP/USD traders. Historically, this is where the price often finds buying interest, potentially signaling a reversal of any downward movement. Traders should keep a watchful eye on this level, as a breach below it could suggest an increase in bearish pressure. Support 2 @ 1.25276: Moving deeper into the chart, we encounter Support 2 at 1.25276. This level holds significant historical importance in reversing the price's direction. Should Support 2 be breached, it might indicate the potential for a more substantial downward move. Resistance Levels: Resistance @ 1.26330: On the flip side, we find a key resistance level at 1.26330. This level acts as a formidable barrier on the hourly GBP/USD chart. Resistance levels are where the price often faces selling pressure, potentially leading to a reversal of its upward momentum. Traders should pay close attention to this level, as a decisive move above it could signify a bullish sentiment in the short term. Resistance @ 1.26430: Continuing our exploration, we come across Resistance @ 1.26430. This is another critical point of resistance that GBP/USD traders should keep on their radar. Multiple resistance levels in close proximity can reinforce the overall resistance zone. A breakthrough above this level could further strengthen the bullish outlook. Conclusion: In the ever-evolving world of forex trading, grasping support and resistance levels is akin to having a roadmap through turbulent terrain. The GBP/USD market, with its unique dynamics, demands that traders carefully observe the identified support and resistance zones highlighted in this analysis. However, it's crucial to remember that the forex market is in constant flux, influenced by a multitude of factors such as economic data releases, geopolitical events, and market sentiment. Therefore, while support and resistance levels offer invaluable insights, traders should complement their analysis with a diverse set of technical and fundamental indicators to make well-informed trading decisions. Above all, effective risk management is vital when trading forex. Traders should employ stop-loss orders and prudent position sizing to manage risk and safeguard their capital. Furthermore, developing a well-defined trading strategy and adhering to it is the cornerstone of consistent success in the world of forex trading. With these tools in hand, traders can navigate the GBP/USD chart with confidence, seizing opportunities while minimizing risks.
by enclavefx_Analaysis
GBPUSD Analysis 1Sep2023From the perspective of the market structure analysis that occurs to this day, I still see GBPUSD in the bearish structure. Where after the last boss occurs, the price is still unable to bullish more than the highest peak. Valid analysis as long as prices do not rise more than invalid areas. If you see from the existing Fibo Retracement, the price has been retrace almost to the area of 0.236 or 76% discounted from the swing that occurs. There is a good prospect for the current short with a fairly small risk.
by Hokusai_FX
Weak price action in the 4Hour chart could drag GBP/USD lowerHello everyone, we are seeing some weak price action in the 4Hour chart which could bring the price closer to the 1.26 level. 📌GBP/USD rebounded almost 185 pips after hitting the lows at the 1.2550 level on Friday. 📌Also if you switch to the daily chart, you can see a high probability of a reversal as GBP/USD is consolidating in the 100-day moving average region(daily chart analysis is attached below) 📌So, even if GBP/USD reaches the 1.2550 level, I would consider that a buying opportunity with immediate TP at 1.28
by MarcellusLUX
7
Exploring the bullish case scenario in GBP/USDPreviously in my Monday's trade idea, I recommended buying GBP/USD @1.2560. As expected, we are currently up 70 pips from our buy area. 📌If you look at the daily chart in GBP/USD, you will notice that the downtrend seems to have lost momentum in the 100-day moving average region . This area is crucial as it can lead to a bullish reversal. 📌 My recommendation is to buy the dips in GBP/USD@1.2570-1.2620 with Stop Loss below 1.25. 📌TPs can be placed at 1.28 which is the minor resistance. Once it is broken, bulls can target 1.2980 and 1.3120 as TP.
Long
by MarcellusLUX
GBPUSD - Short after filling the imbalance Hello traders! ‼️ This is my perspective on GBPUSD. Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I am looking for short. I want price to continue the retracement to fill the imbalance higher and then to reject from institutional big figure 1.27000. Fundamental analysis: On Friday, we have news, will be released NFP and Unemployment Rate on USD, one of the most important news. Pay attention to the results in order to validate the analysis. Like, comment and subscribe to be in touch with my content!
Short
by Snick3rSD
GBP/USD's 30-Minute Support and ResistanceIn the dynamic arena of forex trading, precision guides success. Each level, each move carries significant weight. Let's delve into the technical intricacies that are molding the path of the GBP/USD pair within the 30-minute timeframe. A Firm Footing: Support at 1.25577 In these pivotal minutes, GBP/USD discovers a solid foundation with the support level set at 1.25577. This level forms the bedrock, potentially offering the pair a launching pad for potential rebounds and potential recoveries . Navigating Challenges: Exploring Resistance Points However, the journey isn't without its hurdles. The pair encounters a series of resistance points, each presenting a distinct challenge: First Obstacle - Resistance 1 at 1.26111: This serves as the initial litmus test for GBP/USD's upward motion. A successful breach of this resistance level could signify a shift in market sentiment, potentially setting the stage for further upward movement. Elevated Challenge - Resistance 2 at 1.2651: As the pair progresses, it faces a more formidable barrier. This resistance demands a determined effort to overcome, probing the strength of the bullish sentiment. Insights for Strategy: Paving the Way Forward For traders and observers, the interplay between GBP/USD and these support and resistance levels holds the key to unlocking insights. Every movement, whether it involves breakthroughs or retracements, carries essential clues about the evolving market sentiment. The robust support at 1.25577 offers a protective layer, potentially presenting opportunities for rebounds. However, the resistance points at 1.26111 and 1.2651 introduce layers of complexity that the pair must navigate to sustain its upward trajectory. As the clock ticks within this 30-minute window, the movements of GBP/USD unfold like a captivating narrative. The interplay between support and resistance, between the aspirations of buyers and the strategies of sellers, creates a dynamic storyline that traders intently follow, seeking to uncover the short-term trajectory of this dynamic currency pair.
by enclavefx_Analaysis