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GBPUSD.1.CSM trade ideas

GBP/USD RecoversGBP/USD Recovers GBP/USD is attempting a recovery wave above the 1.2500 resistance. Important Takeaways for GBP/USD Analysis Today - The British Pound is attempting a fresh increase above 1.2420. - There was a break above a key bearish trend line with resistance at 1.2455 on the hourly chart of GBP/USD at FXOpen. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair declined after it failed to clear the 1.2600 resistance. As mentioned in the previous analysis, the British Pound even traded below the 1.2500 support against the US Dollar. Finally, the pair tested the 1.2350 zone and is currently attempting a fresh increase. The bulls were able to push the pair above the 50-hour simple moving average and 1.2450. The pair even climbed above the 1.2500 level. There was a break above a key bearish trend line with resistance at 1.2455. The pair climbed above the 50% Fib retracement level of the downward move from the 1.2607 swing high to the 1.2352 low. On the upside, the GBP/USD chart indicates that the pair is facing resistance near 1.2545 or the 76.4% Fib retracement level of the downward move from the 1.2607 swing high to the 1.2352 low. The next major resistance is near 1.2605. A close above the 1.2605 resistance zone could open the doors for a move toward 1.2650. Any more gains might send GBP/USD toward 1.2750. On the downside, there is decent support forming at 1.2480. If there is a downside break below 1.2480, the pair could accelerate lower. The first major support is near the 1.2455 level. The next key support is seen near 1.2410, below which the pair could test 1.2350. Any more losses could lead the pair toward the 1.2220 support. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
2
GBPUSD Analysis: Bullish Breakout from Falling WedgEThe forex pair GBPUSD is currently trading at 1.25600, with a target price set at 1.28000, indicating a potential gain of over 200 pips. The price action showcases a falling wedge pattern, a bullish reversal formation, which has already broken out to the upside. This breakout confirms a shift in momentum, aligning with the bullish prediction made in prior analysis. Falling wedges typically suggest decreasing bearish pressure, paving the way for buyers to dominate. The breakout signifies a strong upward move, reinforcing confidence in the target price. Traders may see this as an opportunity to capitalize on the bullish trend. However, market conditions, such as economic data or geopolitical events, should still be monitored. Proper risk management remains essential to mitigate potential losses. This setup highlights the importance of technical analysis in identifying profitable trading opportunities.
Long
by AndrewsMarket-Mastery
GBP/USD Analysis: Bearish Continuation or Bounce? Key Observations: Descending Channel: GBP/USD is firmly within a downward sloping channel, with repeated lower highs and lower lows, indicating strong bearish pressure. Critical Support at 1.2290: The price is heading toward 1.2290, a significant support level where previous bounces have occurred. Momentum Indicators: The Ichimoku cloud shows bearish sentiment dominating the market, with no clear signs of reversal yet. Resistance at 1.2554: If a recovery happens, the first major hurdle will be 1.2554, where selling pressure is expected to increase. Scenarios: Bearish Continuation (60% Probability): A break below 1.2290 could open the path toward deeper levels, with potential targets at 1.2200 or lower. Bullish Bounce (40% Probability): Buyers could step in at 1.2290, leading to a corrective bounce toward 1.2400 or the upper boundary of the descending channel. Conclusion: The current trend favors a bearish continuation toward 1.2290. A decisive break below this level could accelerate the downtrend. However, a bounce from support may provide a short-term recovery opportunity. 📢 Disclaimer: This analysis is for educational purposes only and is not financial advice. Always conduct your own research and consult with a financial professional before making trading decisions. 🚨
Short
by Mcenzy
1
GBPUSD Turning Point Level GBPUSD Turning Point Level Trend trading Prerequisites 1. Bearish trend 2. Price is near the upper trend level 3. The RSI indicator is overbought and is likely to form a divergence. 4. Horizontal level 🚀 Trade with the professionals of THS - Wave Theory! 🔹 All trades are based on wave analysis. 🔹 Fixed stop loss and take profit for risk management. 🔹 100% automation: copy trades through CopyFX service. 🔹 Reliability and transparency: the results are confirmed by the market. 📈 Don't miss the chance to earn steadily! 👉 Connect to CopyFX with THS and start copying profitable trades right now! 💡 Details on our channel and in the app!
by Trade_Hive_Signals
1
GBP/USD 4H Timeframe AnalysisGBP/USD 4H Timeframe Analysis Trend Analysis: On the 4-hour chart, GBP/USD is currently in a downtrend, forming a head and shoulders pattern. The price recently broke through a minor key support, which has now become a minor key resistance at 1.26000. After this break, the price continued downward and then retested this resistance, creating a potential liquidity or manipulation zone. At present, the price is caught between two minor key levels. Our strategy is to wait for the price to form further liquidity within this zone. This will help us confirm that the price is unlikely to break above our minor key resistance at 1.26000, followed by the trendline in place. Price Action Expectation: Once liquidity is formed in the zone, we will monitor for a break below the minor key support at 1.25000. If this happens, we will look for a short entry. Fundamental Correlation: The upcoming ISM Services PMI release, scheduled for later today, could significantly impact USD strength. A stronger-than-expected report could bolster the USD, aligning with our bearish view on GBP/USD and potentially driving the price below the 1.25000 support level. Additionally, the JOLTS Job Openings data, with a forecast higher than the previous report, is expected to provide further support to the USD if it shows positive growth. A stronger job market could push the USD higher, reinforcing the bearish momentum on GBP/USD. Trade Setup: Trade Type: Sell Stop (Breakout Trade) Entry Price: 1.25050 (on confirmation of price breaking below the minor key support) Stop Loss: 1.26080 (above the resistance level to protect against false breakouts) Take Profit: 1.22650 (aligned with the next significant support level) Conclusion: GBP/USD is showing a potential bearish continuation, with the head and shoulders pattern and recent breaks of minor support levels indicating further downside. The upcoming ISM Services PMI and JOLTS Job Openings data could strengthen the USD, supporting our bearish view. Traders should wait for confirmation through the formation of liquidity and a break below 1.25000 before entering a short position. Risk Management: Ensure a disciplined risk management approach with a 1:2 risk-to-reward ratio. Position sizes should align with account equity, and always monitor price reactions in real-time to validate or invalidate the setup, especially considering the impact of the upcoming economic data.
Short
by RebornFXTrader
Conquered 250 Pips, What's Next in the Wave? Swingers!Let's keep it simple, As Always! As of today, GBP/USD has delivered a solid 250-pip move following our analysis shared on October 9th, 2024. Our forecasted move materialized as expected, with the pair continuing its upward momentum after a brief consolidation phase. For those who took the trade, congratulations on securing some solid profits! Now, the question on everyone's mind is, what's next for GBP/USD? Let’s break down the structure and identify the potential move within the wave. Keep an eye on price action around these levels for the next wave. A pullback to 1.2300 could offer an entry for the next rally. Stay cautious and wait for confirmation before jumping in. Let's see how the market unfolds over the coming sessions. -Zak Happy Trading! 🔥
by blamezak_trades
GBPUSDGBPUSD is in Sell Pattern The price is moving from the upper boundary of the channel and has already consolidated under the resistance level. The chart maintains a descending structure on the small timeframes, while on the big timeframes an ascending structure is maintained and the indicators are forming a bullish convergence. We expect a decline in the channel with the price holding under the 38.2% retracement level. Share your opinion in the comments and support the idea with a like. Thanks for your support! fallow me Guys
Short
by Royal_Forex_Level
GBPUSD, swing of the year. FOREXCOM:GBPUSD / 1D Hello Traders, welcome back to another market breakdown. FOREXCOM:GBPUSD is showing strong bearish momentum after the dollar index TVC:DXY broke above the 2 years range. However, the price is oversold for now. Hence, instead of jumping in at current levels, I recommend waiting for a pullback into the middle of the range zone for a more strategic entry. If the pullback holds and sell off confirms, the next leg higher could target: First Resistance: Immediate levels formed during prior consolidation. Second resistance: Yearly lows. Stay disciplined, wait for the market to come to you, and trade with confidence! Trade safely, Trader Leo.
Short
by BTM-LEO
7
GBPUSD downpourThis chart shows the GBP/USD currency pair on a 4-hour timeframe with an Elliott Wave count labeled (1) through (5). Key observations include: Elliott Wave Analysis: The wave count suggests a completed impulsive wave downtrend, currently in Wave (5), indicating potential bearish continuation. Support Zones: Highlighted yellow rectangles mark significant support areas where price could react, particularly around the 1.20527 level. Resistance Zone: The red line around 1.25335 marks a resistance level, likely aligned with Wave (4) retracement. Trading Idea: Based on the chart, a continuation toward the 1.20527 level seems possible, with current price action aligning with Wave (5). However, traders should confirm entry signals before acting.
Short
by sompa
1
GBPUSD Potential Reversal Points GBP/USD potential reversal points, especially in light of the upcoming FOMC meeting, which is likely to have a significant impact on the market. Reversal Point and Support: You believe that GBP/USD has found support and is poised for an upward move, especially given that it has formed a potential "double bottom" pattern. This type of pattern is often interpreted as a reversal signal after a downtrend, suggesting a price increase. Your first target for the price is 1.26000 and the second target is 1.27000, which suggests a bullish outlook in the near term. PS Support with like and Comments For more insights.
Long
by Sense_Trading
3
GBP USD Complete Analysis - Top Down - Structure wiseHi guys, Below im going to go through a detailed breakdown of GBP USD for longer term swing trades and what i am looking for to confirm any trade direction. Firstly i want to start of at the monthly time frame: Below is a photo of the monthly timeframe clearly showing bearish structure with lower highs and lower lows: So our monthly bias is bearish, and the last rally could just be a pull back to continue lower, However, considering that the low that was created in September of 2022 created a new all time low for the pair, i am skeptical that this pair will go any lower. Furthermore, looking at the price action from the low of 2016 till date we can see that price has been pretty much range bound, which also looks to be a Wyckoff accumulation schematic. However this will only be confirmed once price breaks above the last high marked up in the above drawing, as this will confirm bullish strength and a break of long term structure to the upside. Conclusion of monthly time frame analysis: Trend is bearish but it seems to be at it's turning point. So we need to see confirmations of lower timeframe to determine weather price will continue to drop or go higher. Now lets look at the daily time frame: Looking on the daily time frame we clearly see bullish structure, with higher lows and higher highs, however remember this entire structure could just be a pull back of the monthly time frame's bearish structure. So when will this move be considered a pull back of the bearish monthly structure? if price manages to break the recent low marked up in the above drawing at around 1.204. this will indicate a break of the bullish structure on the daily timeframe and a shift from bullish to bearish structure. As long as price is above this low, 1.204 then the structure will remain to be bullish. So to recap, on the monthly we are overall bearish but we are expecting that we are at the end of the bearish move, but we need to see the lower timeframes confirm if price wants to go higher. As of now, the daily structure is bullish and the structure is holding. So we can look for buys at this point. Lets go down to the 4 hr time frame: On the 4 hr timeframe we can see the clear bearish structure. but remember that as long as price is above the 1.204 mark then we are bullish on the daily, so this bearish structure gives us opportunities to enter long positions at lower prices. But in order to confirm that this bearish structure will not just continue to drop and shatter the 1.204 mark, then we need to see a shift in structure from bearish to bullish, which will occur when price breaks above the high in the above photo at around 1.28. This will indicate the end of this bearish pull back and a change in structure from bearish to bullish, so then we will have bullish structure on the 4 hr and the daily time frames. Entries however will be taken on the 15 or 5 min timeframes, when the time comes. For now i need to wait and see if the 4 hr structure will turn bullish or not. Also another note on the 4 hr timeframe, structure aside, we can see some signs of accumulation where we have just done a quick sweep and stop hunt of the lows which also indicate that bullish strength may enter soon. As shown in the below photo: So overall i am bullish on GBP USD but i need the 4 hr time frame to confirm my bias by breaking structure upwards and clearing the 1.28 mark. At that point we will scope in on the 15 min for entries on pull backs. The other scenario is if price continues to be bearish, and breaks the low on the daily time frame at around 1.204, this will completely shift our bias from bullish to bearish, and will look for sell positions on pull backs. So for now, we wait. Wait for price to show you what it wants to do, does it want to respect the bullish structure on the daily time frame? or does it want to shift the structure from bullish to bearish? this will be the deciding factor here. And based on that we can analyze further and look to take some good swing trades. If you made it this far, i thank you for your time and patience, and i hope this helped you in some way. Thank you, and happy new year to everyone!!
Long
by mohamed_hammoud
4