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Gbpusdtrade

GBPUSD BuyCommenting on GBP/USD's performance, Jeremy Stretch, forex analyst at CIBC Capital Markets, said that, "We will look for continued buying interest on dips to 1.2225/35." The price of the pound witnessed a strong start to 2023 and outperformed all of its major peers in the first quarter, benefiting from a series of economic data that proved to be stronger than what analysts expected. The rise in interest rates at the Bank of England and the bank's continued data-driven approach to more policy moves also added to the rally. For his part, George Vessey, an analyst at FX & Macro at Convera, said that “The British pound achieved its largest monthly rise since November last year against the US dollar, as narrowing spreads between the United States and Britain and better-than-expected British economic data fueled demand.” Regarding the British currency, he added that “the pound sterling was crowned the best-performing currency in the first quarter of 2023, rising by an average of 3% against its peers in the Group of Ten.” GBPUSD main trend is still bullish. Currently on the h1 chart the price is in a deep correction. With this currency pair, traders can wait to buy when the price returns to 1.2400, SL: 1.2350, TP: 1.2500
Long
by VTmarkets
GBPUSD BuyOn the daily GBPUSD chart below, we can see that the price has reached the top of the range at 1.2444. This is a significant level for both buyers and sellers. The buyers will want to see a clear break above the level to get the conviction and step in to target new higher highs. The sellers, on the other hand, are likely to pile in here with defined risk above the level and target the bottom of the range at 1.1839. From a risk management perspective, the sellers have clearly a better setup technically speaking. GBPUSD h1 price is in an uptrend. However, now traders need to wait for another deep correction of this pair to have the best buying opportunity. Recommended to wait to buy around 1.2430, SL: 1.2380, TP: 1.2550
Long
by VTmarkets
GBPUSD : Current Situation & Technical , Fundamental View#GBPUSD - Currently the MARKET SENTIMENT for GBPUSD is slightly UP SIDE. All MARKETS including STOCKS and STOCKS may be UP due to MARKET RISK ON in the past days. It affects the POUND greatly. GBPUSD may be slightly UP this week. Anyway, XXXUSD PAIRS are being BUYed slightly higher because the FED is a bit dovish. - The price can definitely move up to the resistance level above the GBPUSD. The reason for that is because there is a slightly UP BIAS in the MARKET for USD. But GBPUSD can sell until 1.23099 LEVEL. After that, you can BUY at 1.2700 LEVEL. So go for GBPUSD LONG ENTRIES.
by benny_marshall
GBPUSD Short Pattern!GBPUSD create Strong Bearish Divergence with a channel. According to the technical chart, seller will control the market. And there was an unmitigated order block, try to mitigate it! Short From 1.2433-1.246xx SL: 1.249xx 1st TP: 1.225xx 2nd TP: 1.216xx Risk Disclaimer Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organised and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Press like👍 if you enjoy + comment your opinion about the market or your thoughts, below this analysis. Best Regards! Mahfuz Azim
Short
by mahfuzazim_TA
GBPUSD BuyThe British pound gained on Monday, bolstered by broad-based U.S. dollar weakness amid falling U.S. Treasury yields on bets that the Fed’s tightening cycle is nearing its end. Against this backdrop, GBP/USD rose about 0.5% to trade slightly below 1.2400, approaching confluence resistance at 1.2450, a technical barrier where the 61.80% Fib retracement of the 2022 slump aligns with the highs of December last year and January this year. A look at the daily chart shows that bullish momentum has tended to fade around the 1.2450 handle on several occasions over the past four months, leading to a pullback on each occasion. If history were to repeat itself, which is a key premise of technical analysis, cable’s recent advance may be running out of gas. This means that sterling could be on the verge of a downside correction in the coming days. GBPUSD h1 price is in an uptrend. The pair is currently at an important resistance area. Earlier today, it is possible that the price will have a deep correction before continuing to move up. It is recommended to wait to buy when the price returns to 1.2320, SL: 1.2260, TP: 1.2450
Long
by VTmarkets
GBPUSD: Ongoing pressure!The GBP/USD has experienced a strong rebound from the 1.2275 level, and experts at Scotiabank anticipate that the pair will exert upward pressure on the resistance level of 1.2445/50. No crucial details have been left out in this paraphrase. Bull trend holds The manufacturing data for Mar CIPS was adjusted down by a small margin from 48.0 to 47.9, however, this had minimal effect on the GBP currency, which remained stable and increased gradually from its lowest point of just under 1.23 during the trading session. The British Pound is currently experiencing a strong upward trend in the short term. Technical indicators suggest a positive overall trend for the GBP, which means that it is unlikely to experience significant declines at the moment. However, there is ongoing pressure for the currency to retest key resistance levels around 1.2445/50 in the medium term.
Long
by Sphyn-Trader
1
GBP/USD reverses from the resistance level, where to sell/buy?GBP/USD has reversed from the 1.2430 resistance level and the price has slipped below 1.23 level during the Asian session on Monday. As you can see from the chart, 1.2430 is a strong resistance level from where the price has reversed on two previous occasions. 1.2230 is an important support in the 4Hour timeframe from where GBP/USD can rebound and reach the resistance level again. My recommendation is to wait for GBP/USD to reach the resistance zone again. On the formation of bearish price action, traders can consider selling GBP/USD between 1.2410-1.2440 with Stop Loss above 1.25 and TP at 1.21 and 1.18 respectively.
by YourLazyTrader
2
20 Reasons For Buy GBPUSD 🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️ 1:✨Eagle eye: I think a multiyear downtrend is over now because the market formed a 1985 to 2022 double-bottom bear trap; you can be seen by using a yearly chart that the picture will be clear after if, in 2023 candle is clear inside bar with some bullish momentum 2:📆Monthly: a clear downtrend, but here are some solid reasons for the bull at this level; you can see a consolidation here sweep all downside liquidity and start a bull side move right now 3:📅Weekly: inner structure inducement and impulse move started. At this point, we are seeking only to buy everything in the bull's favor 4:🕛Daily: triple top with a proper bullish structure valid for only Buy entries at a breakout or pullback. Just buy here 😇7 Dimension analysis 🟢 analysis time frame: Daily 5: 1 Price Structure: bullish 6: 2 Pattern Candle Chart: triple top upside breakout excepted 7: 3 Volume: Every time a massive volume at the bull candle, this indicates buyers are much stronger than the sellers 8: 4 Momentum UNCONVENTIONAL Rsi: Waooo great Rsi almost shift their range from sideways to super bullish zone 9: 5 Volatility measure Bollinger bands: above to middle band some m shape so before breakout a minor correction is excepted for a more decisive move 10: 6 Strength ADX: bullish 11: 7 Sentiment ROC: GBP is more substantial than USD in terms of rate of change monthly period 1 ✔️ Entry Time Frame: H4 12: Entry TF Structure: Bullish 13: entry move: we enter only at impulse move so we can wait 14: Support resistance base: recent bullish OB 15: FIB: Not yet ☑️ final comments: wait For Buy until the price does not give us a proper Buy signal at our desired Price 16: 💡decision: Buy Only 17: 🚀Entry: 1.2239 projected 18: ✋Stop losel: 1.2188 19: 🎯Take profit: 1.2557 20: 😊Risk to reward Ratio: 1:6 🕛 Excepted Duration: 5 day
Long
by Optimum369
GBPUSD: What is the direction of the market?At the beginning of the European session on Tuesday, the dollar increased slightly but struggled to surpass its recent five-week lows before the Federal Reserve's newest policy-setting meeting. The Dollar Index, which measures the US dollar against a basket of six other currencies, traded 0.1% higher at 103.025 at 04:05 ET (08:05 GMT) after falling below 103 for the first time since mid-February. Due to the ongoing banking sector crisis, traders began to anticipate that the Federal Reserve would not raise interest rates due to banking stress, which weighed heavily on the US dollar. To alleviate funding pressures in global markets, the Fed announced a seven-day dollar swap on Sunday. Although the use of this facility was restricted, the rush to inject liquidity into the monetary system demonstrated financial stress and had a clear negative impact on the USD, according to Alan Ruskin, Deutsche's director of international strategy. NOTE: when trading always have sl and tp to be able to ensure the account in the best way. Wishing everyone a smooth and successful transaction!
by Sphyn-Trader
1
Finally GBPUSD Ready To Short!GBPUSD create Strong bearish divergence with a rising wedge pattern . And surely there was an unmitigated order block, now it has also been mitigated! Remember, there is no place for luck in trading - only strategy! Risk Disclaimer Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organised and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, and risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Press like👍 if you enjoy + comment with your opinion about the market or your thoughts, below this analysis. Best Regards! Mahfuz Azim
Short
by mahfuzazim_TA
1