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Gpbusd

💡 GBPUSD: Pressure from sellersGBPUSD continued to recover in the past session after buyers successfully defended the support level of 1.26. Although it is still not possible to break the resistance at 1.28 and create a new peak to confirm the continuation of the uptrend. However, recent price behavior shows that buyers are gradually regaining control of the situation, expecting prices to continue to rise. It is possible to continue holding existing long positions, the SL is still set below 1.26 while the target remains 1.30.
Short
by Stone_Haven
⤴️⤴️GPBUSD) bullish on the market) analysis)🖼️🚀The dollar crept higher on the first trading day of the year as attention turned to economic data this week that may provide clues on the Federal Reserve's next moves, while bitcoin surged ahead of $45,000 for the first time since April 2022. The dollar index DXY , which measures the U.S. currency against six rivals, fell 2% in 2023, snapping two years of gains. It was last at 101.44, up 0.059%, as investors weighed the prospect of the Fed cutting rates this year. The dollar's ascent weighed on the Japanese yen USDJPY the most, with the Asian currency down 0.35% at 141.36 per dollar, having slid 7% in 2023. Rescue teams in Japan on Tuesday struggled to reach isolated areas hit by a powerful earthquake on New Year's Day, with reports of more than 20 people dead in a disaster that toppled buildings and knocked out power to thousands of homes. Markets are now pricing in an 86% chance of interest rate cuts from the Fed to start from March, according to CME FedWatch tool, with over 150 basis points (bps) of easing anticipated in the year. "The question is when and how fast rate cuts will be delivered," Marc Chandler, chief market strategist at Bannockburn Global Forex, said in a note. "Moderating price pressures and weaker growth impulses have seen the pendulum of market sentiment swing dramatically from the 'higher for longer' mantra of most of last year to pricing in aggressive easing" from central banks, Chandler said. The focus now switches to a slew of economic data due this week, including the data on job openings and nonfarm payrolls. Minutes from the last Fed meeting in December are scheduled for release on Thursday and will provide insight into the central bankers' thinking around rate cuts this year. "The positive sentiment from end-2023 may roll over into this week as all eyes turn to the U.S. jobs report on Friday," said Nicholas Chia, macro strategist at Standard Chartered. At its December policy meeting, the Fed adopted an unexpectedly dovish tone and forecast 75 basis points in rate reductions for 2024. That contrasted with other major central banks, including the European Central Bank (ECB) and Bank of England (BoE), which reiterated they will hold rates higher for longer. Still, traders are pricing in 158 bps of cuts by the ECB this year, while the BoE is also expected to cut rates by 144 bps in 2024. The euro EURUSD was down 0.13% to $1.103, inching away from the five-month peak of $1.11395 it touched last week. The single currency gained 3% last year, its first yearly gain since 2020. Sterling GBPUSD was last at $1.2729, up 0.05% on the day, having clocked its strongest performance last year since 2017 with a 5% gain, although a weakening economy and election uncertainty make a repeat performance unlikely. Elsewhere, the Australian dollar AUDUSD was up 0.35% at $0.68335. The New Zealand dollar NZDUSD was little changed at $0.63155. The crypto world started the year with a bang, with bitcoin BTCUSD touching a 21-month peak of $45,532 on rising expectations that the U.S. Securities and Exchange Commission would soon approve exchange-traded spot bitcoin funds.
Long
by SMC-Trading-Point
Waiting for unemployment figures The situation in the Middle East remains unpredictable and very unstable, while Israel's proposed invasion of Gaza still seems to be delayed. The market is expected to maintain a risk-off mentality one week ahead with many important events and figures. UK unemployment figures are due out tomorrow morning, followed by the latest S&P Global PMI data. Ratings agency Moody's recently upgraded the UK's long-term outlook from negative to stable and returned the country to its AAA rating. The UK's budget usage plan will be announced on November 22. UK government bond yields remain high with the 10-year yield approaching levels seen since August 2008. The daily chart shows the formation of a triple top, signaling a near-term decline.
Short
by FalCol_TradingMaster
1
GBPUSD remains a Buy intraday trendGBPUSD remains a Buy intraday trend In the short term buy intraday in the 1.21600-1.21400 area sl: 1.21000 tp:1.22000-122300 The Hamas-Israel conflict and yields continue to pose a threat to the currency pair ahead of a series of key economic data from the UK and US this week. In the H4 framework, GBP/USD started to rise after testing his 1.2100 support, but the RSI is still stuck below 50, indicating that selling pressure remains strong. If the price closes below 1.2100, sellers will continue to target support at 1.2050 (on the downside from July high to October low) and 1.2000 support. Immediate resistance for buyers lies at the 20-day moving average at 1.2150, then at the 100-day moving average at 1.2180 and 1.2200.
Long
by NicoTradingMaster
1
GBPUSD continues to decline as USD continues to dominateHello traders! GBP/USD closed the last two trading days of the previous week in negative territory. Although this currency pair attempted a modest recovery at the start of Monday, it failed to gain momentum. At the time of writing, GBP/USD continues to maintain a downward trend, with prices fluctuating around 1.217 and declining by 0.37% for the day. If safe-haven flows continue to dominate the market in the latter half of the day, the US dollar may remain resilient against its counterparts, making it difficult for GBP/USD to find support and continue its downward trajectory.
by Nolan_Signal
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
DXY 16 hour chart XABCD TP bulls 106.60🔸Hello traders, let's review the 16 hour chart for DXY the US dollar index today. Speculative XABCD in progress, with PRZ/D set at 106.60, so expecting more gains/ upside in September. Bullish outlook for DXY / Bearish outlook for EURUSD. 🔸XABCD structure is defined by point X at 105.60, point A at 101.10, point B at 104.30, point C at 100.00, point D/PRZ at 106.60, currently all points validated, point D/PRZ pending in early October 20233 🔸Recommended strategy for DXY/EURUSD traders: DXY accumulate on dips expecting more gains, final TP bulls is 106.60. EURUSD traders, short sell rips/rallies final TP bears EURUSD is set at 1.0650 (bid now is 0800) . good luck traders! 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
TVC:DXYLong
by ProjectSyndicate
34
BoE Rate Decision Sparks Divergence between BTC/GBP and GBP/USD I bring exciting news that presents a unique opportunity to leverage the recent Bank of England (BoE) rate decision in your trading strategies. The resulting divergence between BTC/GBP and GBP/USD has created a temporary relationship with immense potential for predicting appropriate moves. Let me shed light on this exciting prospect and inspire you to act. As you are aware, the BoE recently announced its decision to maintain interest rates, but more importantly, it provided forward guidance indicating a potential shift towards a more hawkish stance shortly. This development has had a profound impact on the currency market, leading to a divergence between the British Pound (GBP) and Bitcoin (BTC) against both the US Dollar (USD) and each other. The GBP/USD pair has experienced increased volatility as the hawkish sentiment from the BoE has strengthened the Pound against the Dollar. Simultaneously, BTC/GBP has witnessed a contrasting movement as the cryptocurrency market reacts differently to the BoE's decision. This discrepancy between the two pairs presents a remarkable opportunity for astute traders like yourselves. Now, you might wonder how to capitalize on this temporary relationship. Well, let me offer you some suggestions: 1. Observe the correlation: Monitor the movements of BTC/GBP and GBP/USD closely. Look for patterns and correlations that emerge due to the BoE rate decision. Identifying these relationships can provide valuable insights into potential trading opportunities. 2. Utilize technical analysis: Apply your skills to BTC/GBP and GBP/USD charts. Identify critical support and resistance levels, trend lines, and indicators to gauge potential entry and exit points. This approach can help you make informed decisions based on the temporary divergence. 3. Stay updated with the news: Keep a keen eye on the BoE, GBP, and BTC news. Any new developments or statements from central bank officials can significantly impact the temporary relationship. Knowing these factors will allow you to adapt your trading strategy accordingly. 4. Leverage risk management: As with any trading opportunity, it is crucial to manage your risk effectively. Set stop-loss orders, define your risk-reward ratio, and diversify your portfolio to mitigate potential losses. By employing prudent risk management practices, you can safeguard your capital while aiming for profitable trades. Remember, this temporary divergence between BTC/GBP and GBP/USD is an opportunity that may not last forever. By acting now and capitalizing on this unique relationship, you can make well-informed trading decisions that align with the prevailing market sentiment. So, fellow traders, let us embrace this exciting prospect with optimism and determination. Stay vigilant, adapt your strategies, and make the most of this divergence to predict
by bryandowningqln
WHY I THINK WE ARE IN FOR A EASY SELLThere are several reasons why one might believe that GBP/USD will fall after reaching a supply zone: 1. Technical analysis: A supply zone is an area on a price chart where there is a concentration of sellers, leading to an imbalance between supply and demand. When the price reaches this zone, sellers may overcome buyers, leading to a potential reversal and downward movement in the GBP/USD pair. 2. Market sentiment: If the supply zone coincides with negative market sentiment towards the GBP, such as concerns about the UK economy or political uncertainties, it may reinforce the likelihood of a downward movement in the pair. Traders and investors may take advantage of the supply zone to sell GBP/USD, putting additional downward pressure on the pair. 3. Fundamental factors: If there are fundamental factors such as weak economic data or dovish monetary policy signals from the Bank of England, it could increase the probability of a downward movement in GBP/USD after reaching a supply zone. 4. Profit-taking: Traders who have previously bought GBP/USD at lower levels might decide to take profit once the price reaches the supply zone. This selling pressure from profit-taking can contribute to a downward movement in the pair.
Short
by ForexHitmann
2