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Poundsterling

GBP/USD Forecast: Long then shortHere is an update on the GBP/USD pair RECAP: (Previous Analysis) In our previous analysis GBP/USD was trading at 1.38400 We were bullish on the pair but cautioned that if the pair failed to break above minor resistance @ 1.38700 it will fall back to 1.37 and that's exactly what the pair did Our Sell Stop order was triggered & we managed to bank 400 pips over 20 positions on the pair. WHAT TO EXPECT: Currently @ 1.36800 The pair has broken below its Ascending channel, from here the pair might fall to 1.35 But 1st we expect the pair to retrace at least back to 1.37600 which is 50% retracement level If it breaks above this level then the pair might go back to 1.38 Bearish harmonic pattern on the monthly time frame MN suggests a possible change in the direction of GBP/USD long term. OUR POSITIONS: Buy Stop @: 1.37200 Buy Stop TP @: 1.37400 Sell Stop @: 1.36500 Sell Stop TP: 1.36300 link to previous analysis below Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
Long
by fxspott
1
GBP: Current Sentiment DriversLatest Developments: March 22 – The UK’s coronavirus count increased to 4,301,925 cases (+5,342). March 18 – At their March meeting, the BoE kept its official Bank Rate unchanged at 0.10% and its QE programme at £895 billion. The BoE added that they do not intend to tighten policy until there is clear evidence that there is significant progress towards eliminating spare capacity and achieving its 2% inflation goal. February 23 – The Unemployment Rate for December increased to 5.1% from a prior of 5.0%. Employment Change printed at -114K while Average Earnings printed at 4.7% 3M Y/Y. For January, Claimant Count Change printed at -20.0K. February 17 – CPI for January increased to 0.7% Y/Y (prior 0.6%) and printed at -0.2% M/M (prior 0.3%). Core CPI remained at 1.4% Y/Y and printed at -0.5% M/M (prior 0.3%). November 12 – Preliminary Q3 GDP printed at 15.5% Q/Q and -9.6% Y/Y versus expectations for 15.8% and -9.4% respectively. Future Sentiment Shifts: There are several risks to GBP’s outlook, particularly with respect to the UK’s coronavirus/lockdown outlook and interest rate expectations. Of these two, expect the UK’s coronavirus outlook to play the more influential role in the short term as the UK’s coronavirus vaccine rollout continues to show signs of stabilizing its breakout, which in turn, should allow the UK to ease lockdown restrictions in the months ahead. However, in the medium term, as the market’s focus shifts, monetary policy should dominate. Regarding monetary policy, risks still remain; although, further easing appears unlikely at this point and markets looking for a hike in 2022. Primary Drivers: Bank of England – Monetary Policy in the UK remains highly influential to GBP’s fundamental outlook. Expectations for policy tightening should prove GBP positive, while expectations for policy easing should prove GBP negative. Brexit – The outlook for the UK’s exit from the EU in December remains a key influence for GBP as it poses significant risks to the UK’s economic outlook. With the UK set to leave at the end of the year and progress in negotiations between the UK and the EUR significantly hampered by the coronavirus outbreak, risks remain firmly tilted to the downside with a hard Brexit or even no deal Brexit remaining distinct possibilities.
by thunderpips
GBP NZD - buying imbalancesHello traders and analysts. Below is our setup for the Minor pair - GBP NZD . Zone colour Master Key: Blue = Monthly Purple = weekly Orange = Daily Grey = 4hour Pink = 1 hour Monthly imbalances - Price has rejected multiple times the zone with 1.81 being the lowest wick on a monthly close. This zone is a powerful buying zone for positional holders like us for two reasons; 1. - Price is clearly making lower highs 2. - The wicks are closing bullish - suggesting the zone is a fractal buying imbalance Weekly imbalances Price has rejected the monthly zone as well as on a weekly, the weekly close is showing bullish signs as the candle closes are creating higher lows. Further to this, the price analysis of the candle sticks show a strong engulfing whipsaw of a bearish week followed by a bullish week immediately after. This shows that price action on a lower time frame will indicate that the profit taking for the sellers are transitioning the imbalance of sellers to buyers. The gap from this zone where the imbalance has arisen, from a technical stand point gives the probability of the fresh zone on the monthly is the open target. Daily imbalances The current possible imbalances are marked and align with the price targets where price will look to reject using a Fibonacci extension tool, so these align with the strategy. On a daily timeframe, the price closes begin to show the consolidation and price range coming into effect. Where we will look to buy next: Between 1.906 - 1.91 if price retraces to this zone again. Here is a possible scenario of what the next entry could be if price enters the grey zone. Targets: The price targets set are GBP NZD 2.08 + - with a longer term final profit target of 2.15. Why? Because this is where our imbalance wick fill is. Do you enjoy the setups? We have 10 years combined analysis experience in world markets. Offer our technical breakdowns here Focus on technical output not fundamentals Position and swing trades Provide updates where necessary - with new updated ideas tracking the progress. If you like the idea, please leave a like or comment. To all the followers, thank you for your continued support. Thanks, Team LVPA MMXXI
Long
by LupaCapital
1
GBP/USD Forecast: Long then ShortHere is our analysis on GBP/USD: RECAP: (Previous Analysis) In our previous analysis GBP/USD was trading at 1.39700 We were bearish on the pair but did caution that the pair might reach 1.40 before falling back to the 1.38 The pair did exactly as we predicted triggering our Sell Stop @ 1.39100 & hitting our TP @ 1.38900 enabling us to bank 400 pips on the pair. WHAT TO EXPECT: Currently at 1.38460 We expect the pair to be bullish from here as it is trading at the lower end of its Ascending Channel The pair might test resistance @ 1.39100 if it manages to break above its minor resistance @ 1.38700 Failure to break above this resistance we might see the pair fall to the 1.37 level OUR POSITIONS: Buy Stop @: 1.38800 Buy Stop TP @: 1.39 Sell Stop @: 1.38 Sell Stop TP @: 1.37800 link to our previous analysis below Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
Long
by fxspott
3
GBP/USD - Following Oversold Zones (LIQUIDITY UP)Technical Overview: - GBP/USD Check out our previous posted analysis As mentioned last week, we were waiting for price action to come down to our long price targets to then look for further confirmation. We had a very busy week filled with fundamentals topping it off with Powell speech. Friday had to take a step back and rethink it self based on the fundamentals Last week we had a bigger range, we worked with 4 different zones and 2 of those had been reached we are now working within the 2 other zones we had 2 buy zones 2 sell zones, bigger range, smaller range we had cleared the range within we are now working with the outer range We see a lot of liquidity built up and this comes from whoever had seen this as "resistance" while on the lower side we see the same thing happen as "Support" and that is why we are anticipating price to take out both imaginary levels We marked potential buy zones the lower being the better, due to our strategy, we can look to trade longs in both zones and exit as intraday Price can react off the first buy zone and intraday long then follow up and go lower the next day, that's why an intraday strategy must be in place. HTF suggests downside but the outer structure remains bullish targeting last highs created few weeks back. Analysis is only 1 piece of the puzzle 🧩 Our analysis is a sentiment for the upcoming week, month. Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining. Trade this sentiment based off your own entry strategy at the right time. Flow with the Devil 😈 Trade with the manipulation👾
by FlyDownX
2
GBPAUD Forecast!! Looking Great!!!PoundAussie PA has been moving down nice and corrective on the higher TF. There are a lot of equal highs and equal lows forming, these will get swiped with all the liquidity above and below them. I will be looking for continuation patterns on the lower TF. The easiest way to trade GA is to dissect it into stages to make it more visible to see the patterns, The same fractal patterns happen over and over again!! We could get some asian sweeps Monday and Tuesday.
by Jake-from-the-trading-Cartel
1
GBPUSD Forecast upcoming week!!!!! Great potentialGU Price action is consolidating nicely, Once we get a swipe of the liquidity or a Imbalance fill….. there is potential for a 300-400 pip move coming!!! I missed a GU short on Friday as I was in the EU Short! Let see what opportunities London session on Monday shows us. I will be looking for continuation patterns once I have a change of trend from my POI. Some nice Asian sweeps could be on the cards Monday and Tuesday for short term trades! CONSISTNECY IS THE KEY!!!
Short
by Jake-from-the-trading-Cartel
1
GBPUSD - Potential BatThe Bat pattern is a precise harmonic pattern that frequently yields exact and sharp reversals. The 0.886 retracement is a powerful completion point and the defining limit within the PRZ. 1. B point retracement of the XA leg must be less than 0.618 with a 0.50 or 0.382 retracement preferred. 2. Precise 0.886 D point retracement of the XA leg as the defining limit within the PRZ. 3. Minimum 1.618 BC projection with extreme extensions (2.0–2.618) possible. 4. Minimum AB=CD completion, although an Alternate 1.27 AB=CD is more common and preferred. 5. C point retracement can vary between a 0.382 to an 0.886.
by reklaw
GBP/USD forecast: LongHere is an update on GBP/USD RECAP: (Previous Analysis) In our previous analysis GBP/USD was trading at 1.38300 We were bullish on the pair after the formation of a bullish harmonic pattern in our previous analysis The pair continued to fall to 1.38 before being bullish As the pair began its bull run it triggered our Buy Stop & hit our TP from our previous analysis enabling us to bank 400 pips from our Buy Stop orders. The pair then fell to support @ 1.38500 before going up again thanks to the FOMC which we also capitalized on. WHAT TO EXPECT: Currently @ 1.39700 With a key event approaching the GBP/USD might either fall back to 1.38 or break above 1.40 But for now, like the EUR/USD we expect the pair to retrace back to resistance @ 1.39500 before continuing its uptrend If the pair falls below 1.39500 it might trade back in the 1.38 range GBP is still bullish in the long term. OUR POSITIONS: Buy Stop @: 1.40100 Buy Stop TP @: 1.40300 Sell Stop @: 1.39100 Sell Stop TP @: 1.38900 link to previous analysis below Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
Long
by fxspott
GBP/USD Forecast: LongHere is what to expect on GBP/USD RECAP: (Previous Analysis) In our previous analysis GBP/USD was trading at 1.39200 We expected the pair to be bullish on the pair but did caution that the pair might be bearish due to weak data that came in on Friday & also if the pair struggles to break the down-trendline. The pair fell to lows of 1.38600 triggering our Sell Stop @ 1.38900 & hitting our target @ 1.38700 banking us 400 pips on the pair. WHAT TO EXPECT: Currently at 1.38300 Pair has broken below support/resistance @ 1.38600 We expect the pair to retrace back to that support @ 1.38600 & try to break above it. If the pair fails to break above it we might see it fall to last weeks lows of 1.37700 Bullish Harmonic pattern forming on the 1H chart suggests a possible reversal if confirmed OUR POSITIONS: Buy Stop @ 1.38700 Buy Stop TP @: 1.38900 Sell Stop @: 1.38 Sell Stop TP @: 1.37800 link to previous analysis below Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
Long
by fxspott
GBP USD BULLISHThe focus for GBP is likely to be firmly fixed on the coronavirus outbreak now that the UK and EU have reached a Brexit agreement. Of course, although the market's focus on Brexit is now likely to markedly fade, it's worth noting that it will remain a key factor for the UK's economic outlook as the UK comes to terms with its new trading relationship with its largest trading partner. Indeed, reports have noted that in the first month since the UK began its new trading relationship with the EU, exports to the continent fell by 68%. Indeed, the impact of Brexit and the surge in coronavirus cases in the UK will notably weigh on its economic performance for the foreseeable future. Consequently, the UK's ability to contain its outbreak and minimize the economic cost will be key to GBP's fundamental outlook. Nevertheless, with a no-deal Brexit outcome avoided, the BoE pushing back on NIRP in the immediate future and the UK's vaccine rollout progressing smoothly with 1 in 3 UK citizens having now received at least one vaccine dose, we hold a bullish fundamental outlook for GBP.
by thunderpips
4
POUND/DOLLAR - BIG MONEY FLOW TO THE UPSIDE (DOLLAR PRINTING)Technical Overview: - GBP/USD Check out our previous posted analysis As mentioned last week, we had seen the bullish momentum take us to our first selling target. It is now where we can see sell pressure take us down to potentially take us down to oversold areas where we would be looking to take buys Ideally, the lower buy zone is where we would love to see price trade into, but would need to be mindful of the first buy opportunity as a potential intra-day potential We had been calling longs on this pair for a while and while we have reached all of our buy targets, from a HTF perspective price remains bullish and still shows sings of continuation from a larger structure to our first major sells located above coming from a weekly time frame level. We marked potential buy zones the lower being the better, due to our strategy, we can look to trade longs in both zones and exit as intraday Price can react off the first buy zone and intraday long then follow up and go lower the next day, that's why an intraday strategy must be in place. HTF suggests downside but the outer structure remains bullish targeting last highs created few weeks back. Stimulus been officially passed this means more printing of the Dollar, which fundamentally means more bearishness We do not update our weekly analysis frequently on this site! Analysis is only 1 piece of the puzzle 🧩 Our analysis is a sentiment for the upcoming week, month. Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining. Trade this sentiment based off your own entry strategy at the right time. Flow with the Devil 😈 Trade with the manipulation👾
Long
by FlyDownX
2
GBP/USD Forecast: Short then longHere is what to expect on GBP/USD RECAP: In our previous analysis GBP/USD was trading @ 1.38300 We were bullish on the pair and had targeted 1.40 The pair has done this & triggered our Buy Stop @ 1.38800 & also hit our TP @ 1.40 Banking us 2400 pips on the pair from the buy stop order we had form our previous analysis The pair has then fallen to 1.39 due to US10Y & DXY WHAT TO EXPECT: Weak data has come in today for GBP which also influenced its downtrend We expect a reversal on the pair regardless of the data. GBP is still bullish in the long run However if the pair breaks below the trendline we would expect it to fall back to support @ 1.38600 OUR POSITIONS: Currently @: 1.39200 Buy Stop @: 1.139600 Buy Stop TP @: 1.39800 Sell Stop @: 1.38900 Sell Stop TP @: 1.38700 link to previous analysis below Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
Long
by fxspott
2
GBPUSD SHORT!!!!!GU short potential. PA is moving up very efficient at the moment. I will only be looking for a short if we have a bit of a distribution pattern develop in my key area, with Imbalances on the lower time frames to protect my capital to target too. Its coming up to New york session soon, Lets see if PA can have a push up and we develop some sideways movement. If PA pushes up I will keep an open mind to look a for continuation pattern long to fill the imb above! Consistency is the key to success! Also Daily IMB has been filled. We could see at least a reaction from this PA area, I will only take A confirmation entry as I don't like the PA efficient move up
Short
by Jake-from-the-trading-Cartel