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GBPUSD.1.CSM trade ideas

4-hr GBP/USD: A 120 Pip Rally After months of a downtrend, GBP/USD is showing signs of a potential recovery. In recent days, the pair has risen by 120 pips, with expectations for another 120-pip increase. The pair was heavily oversold, attracting buyers who are now driving the price higher. Crucially, the price broke above the immediate resistance at the 23% Fibonacci retracement level. The next key resistance lies near the 61.8% Fibonacci level, at 1.2590, precisely 120 pips above the current price. With the ongoing bullish momentum and strong buyer activity, we anticipate the pair could test this level soon. If the 61.8% Fibonacci resistance is decisively breached, it could signal further gains and potentially confirm a trend reversal, marking the start of a broader upward trajectory. The focus remains on the pair's ability to sustain this momentum and surpass critical resistance levels.
Long
by Trendsharks
GBPUSD Analysis: Falling Wedge Pattern and Potential 500+ Pips The forex pair GBPUSD is currently trading at 1.247, with a target price set at 1.290, presenting a potential gain of 500+ pips. The market is forming a falling wedge pattern, a bullish technical setup that often signals a potential breakout to the upside. This pattern indicates a gradual narrowing of price movement, with sellers losing momentum and buyers preparing for a reversal. Traders are closely watching for a breakout above the wedge, which would confirm the bullish bias. A breakout could trigger significant upward movement, aligning with the target price. This setup provides an attractive risk-to-reward opportunity for buyers. However, confirmation through price action and volume is essential before entering a trade. Risk management is critical due to forex market volatility. Monitoring momentum indicators can help validate the expected breakout. The next move depends on how the pair reacts at key resistance levels.
Long
by AndrewsMarket-Mastery
Analysis for GBP/USD (4-Hour Chart)The GBP/USD pair is showing significant price movements on the 4-hour chart, providing potential opportunities for both buyers and sellers. Here’s a breakdown of the key levels and insights: Key Observations: Support Zone: The price has recently bounced from a critical support level at 1.2400, indicating strong buying pressure at this zone. This level may act as a base for a potential bullish recovery. Resistance Levels: The first major resistance is observed around 1.2541. A stronger resistance zone lies at 1.2605, which could act as a barrier for further upward momentum. Trend Analysis: The pair is currently in a short-term bearish trend, as seen by the recent downward movement. However, the bounce from the support level and the green indicator showing potential long positions may suggest a possible reversal or retracement. Potential Scenarios: Bullish Case: If the price breaks above 1.2541, we might see further upside toward the next resistance at 1.2605. Bearish Case: Failure to sustain above the support level at 1.2400 could lead to another leg downward, potentially targeting 1.2350. Trading Strategy: Long Positions: Consider entering around the support level (1.2400) with a target of 1.2541 and a stop-loss below 1.2370. Short Positions: Look for opportunities near 1.2541 or 1.2605 if rejection signals appear, with a target back to the support zone. 💬 What’s your take on GBP/USD? Let me know your thoughts in the comments below!
Short
by Tradeaione
Fundamental Market Analysis for Januaryr 6, 2024 GBPUSDGBP/USD is unable to capitalize on the modest gains of Friday's recovery and is fluctuating in a range above the 1.2400 mark at the start of the new week. Spot prices, meanwhile, remain near the lowest level since April 2024 reached last week and appear vulnerable to an extension of the three-month downtrend amid a bullish US Dollar (USD). In fact, the US Dollar Index (DXY), which tracks the USD against a basket of currencies, is holding near a two-year high amid optimism over US President-elect Donald Trump's expansionary policies and the Federal Reserve's (Fed) hawkish outlook. Furthermore, concerns over Trump's sweeping tariffs, as well as geopolitical risks related to the war between Russia and Ukraine and rising tensions in the Middle East, are supporting the safe-haven Dollar and acting as a headwind for GBP/USD. Meanwhile, sentiment around the British Pound (GBP) remains weak amid a series of weak UK data recently and doubts over the newly elected Labor government's fiscal strategy. In addition, the relatively soft stance of the Bank of England (BoE) and the decision to leave interest rates unchanged in December by a split vote may continue to weigh on GBP. This confirms a negative outlook on GBP/USD as traders await the final UK Services PMI to gain fresh momentum. Trading Recommendation: Watch the level of 1.2400, if consolidated below consider Sell positions, if rebounded consider Buy positions.
by Fresh-Forexcast2004
Buy Signal for GBPUSD: Tracing a Positive Momentum Ahead!With the current market dynamics favoring a bullish outlook on GBPUSD, I am positioning for a buy. Considering the entry price of 1.24176, a take profit target set at 1.24467, and a stop loss at 1.23757, we appear to be on the verge of positive movement. The rationale behind this bullish stance stems from the latest economic indicators and the underlying principles established under the EASY Trading AI strategy. Recent data has hinted at an uplift in UK economic performance, signaling stronger growth, which usually provides support for the pound. Coupled with ongoing weakness in the US dollar due to its current monetary policy stance, we are seeing a robust opportunity to capitalize on these shifts. Market sentiment also plays a crucial role here, as increased confidence in risk assets is likely to favor GBP against USD in the near term. The alignment of this sentiment with technical analysis, showing upward momentum, indicates we could prevail reaching our take profit zone smoothly. As always, corroborate these insights with your trading strategy and safeguard your investments. For those interested in automation, remember that our trading bots utilizing the EASY Trading AI strategy can assist in executing these trades effectively. Good luck and trade wisely!
Long
by ForexRobotEasy
GBP/USD Shorts from 1.25200This week, my analysis for GBP/USD (GU) suggests a potential move higher to complete a corrective phase, as the pair has experienced heavy bearish momentum recently. Once the price reaches my point of interest (POI), which lies within the confluence of three key supply zones, I’ll be looking for signs of a slowdown in that region. I’ll wait for the price to form a redistribution pattern in this area, signaling an opportunity to align with the overall bearish trend. Since GU is already in a bearish trend, it’s ideal to capitalize on this movement and target the underlying liquidity below. Confluences for GU Sells: The price has shown a Change of Character (CHOCH) and multiple Breaks of Structure (BOS) to the downside. Several unmitigated supply zones remain, which are likely to be tapped. Significant liquidity below, along with imbalances that need to be filled. The Dollar Index (DXY) is bullish, supporting the bearish case for GU through correlation. Note: If the price drops first before retracing upward, I’ll look for a buying opportunity around the 1-hour demand zone at 1.23000.
Short
by Hassan_fx
Bearish drop for the Cable?The price is rising towards the resistance level which is a pullback resistance that lines up with the 50% Fibonacci retracement and could drop from this level to our take profit. Entry: 1.2492 Why we like it: There is a pullback resistance level that aligns with the 50% Fibonacci retracement. Stop loss: 1.2564 Why we like it: There is a pullback resistance level that lines up with the 78.6% Fibonacci retracement. Take profit: 1.2370 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets