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Pound

GBP/USD Rises on UK CPI Data. Long Scenario.The GBP/USD pair is exhibiting bullish tendencies and has made strides towards the 1.2450 level in the early hours of Wednesday. The latest UK data indicates that the annual core CPI remained steady at 6.2% in March, surpassing the market's anticipated value of 6%, thus contributing to the appreciation of the Pound Sterling. During the opening London session, the Pound experienced a slight retreat, falling to 1.24000. While lower timeframes suggest bearish momentum for the GBP/USD pair, the higher timeframes reflect a strong Pound. Today's market developments will be crucial in determining the Pound's position.
Long
by FOREXN1
5
GBP/USD -17/4/2023-• Picture doesn't look so bright for the Sterling • Odds are turning in favor of the bears for the following reasons: 1: The Ascending parallel channel has been broken for the first time today 2: Recent rally failed to print a new high above the previous one at 1.2540 and a potential double top is being formed 3: Bears are approaching the double top neckline at 1.2340 (April 10 low) and a break of that level exposes lower prices 4: US strength doesn't seem to be fading soon, adding pressure on the pair • Long term, picture is still neutral to bullish as long as we are trading above the ascending trend line drawn from the October all time low
by RamziAbouAbdallah-CMT
Key levels converge for potential GBPUSD buying opportunityThe GBPUSD has reached the upper edge of the upward price channel, showing rejection from above and overbought conditions on momentum indicators. I expect the price to retest the local resistance at 1.23953, which is also where a rising trendline meets a weekly resistance level and the 23.6% Fibonacci level. I will not challenge the trend and will wait for a buying opportunity from those areas. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Long
by Candlestick_OB
GBPUSD: What to Look at This Week 🇬🇧🇺🇸 GBPUSD broke and closed above a solid horizontal resistance cluster on a daily time frame last week. The pair is correcting now. The market is steadily falling within a bullish flag pattern on 4H. To catch the next bullish move, I would recommend waiting for a bullish breakout of the resistance of the flag. 4H candle close above will confirm the violation. A bullish continuation will be expected at least to 1.25 then. If the price breaks a support of the flag, the setup will become invalid. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
11
GBP/USD Get prepared for short positionsHI Dears If you look carefully at the chart of the British Pound (GBP/USD) you will see the bearish scenario. I will tell you the reason by the RTM method. The price made a powerful 4h FTR and also an MPL zone. after that, the price broke the 4H trading range but in fake mud to gather the liquidity that is needed for a powerful downtrend. After that the price starts its downtrend and also the MPL zone is engulfed. so we go back to the base of the POLE. Sincerely Hosein Poursaei
Short
by hosein-9879
3
GBPJPY Long IdeaI want to see price take out yesterdays lows; to collect liquidity (black shaded box) Correlating with market structure I want to see price reject the 15 minute order block (greenish box) and push into the FVG (target1). I see this happening due to the amount of bullish price action within the last day. I believe that this market is trying to entice sell trades, even though market structure hasn't been broken. Thus the long trade being the better move in my opinion. The risk to reward for this trade is minimum 1:3, however if I see a quick move I will be holding the trade further (on the chart its a 1:4) I only risk 1% maximum per trade. Please comment below your thoughts and ideas.
Long
by Charl13Scrutton