GBPUSD We all know it is in the edge. It has been a quite while that GU has been on the rise which led it to into a rising wedge pattern and together with its abnormal flows for sure it's going down for real.
GBPUSD.1.CSM trade ideas
GBP/USD at a Critical Support Level: What comes next?The GBP/USD pair has fallen more than 7% since September 26, 2024, largely in response to the strengthening of the USD following Donald Trump's recent victory in the US presidential election. However, it appears that GBP/USD has found significant support on the daily chart, forming a double bottom pattern in the 1.2500 region. This level has been an important reference point throughout 2023 and is poised to act as support once again.
Confluence of Factors
Several elements suggest a potential upward movement in GBP/USD:
7% Decline Without Significant Retracement: The pair has seen a substantial decline since September without any meaningful pullbacks.
Key Support Region: The price has touched an important support level on the daily chart.
Double Bottom Formation: The emergence of a double bottom pattern on the daily chart adds further support to the bullish hypothesis.
Considering these points, a long setup could be contemplated if the candle on the daily chart for December 23 closes above the high of the preceding candle. This would create a bullish Engulfing Pattern, which is often viewed as an ignition signal and a buying opportunity.
Potential Targets for a Long Trade
1.2800: This target is a previous resistance point that previously hindered further price increases. It also represents a round number, offering approximately 180 pips from the entry point.
1.3000: Another significant resistance level and round number, approximately 380 pips from the entry point.
Stop Loss
A suitable stop loss could be placed slightly below support on the daily chart at around 1.2470, providing a distance of approximately 150 pips from the entry point.
Alternative Scenario
Should GBP/USD break below the support level on the daily chart, the next downward movement could see it fall to the 1.2330 level, where it may find another area of support.
Impact of Economic Data: UK GDP and US Consumer Confidence
The upcoming release of UK GDP data should be closely monitored, as it is a critical indicator of the health of the UK economy. If the reading comes in lower than expected, the market may speculate that the Bank of England (BoE) could be forced to cut interest rates to stimulate growth, potentially leading to a depreciation of the Pound.
Meanwhile, US Consumer Confidence data is likely to affect market volatility as household consumption accounts for approximately two-thirds of GDP. A reading that exceeds expectations could indicate strong consumer confidence in the economic outlook, which might lead to inflationary pressures and prompt the Federal Reserve (Fed) to consider raising interest rates, thereby strengthening the USD.
As the GBP/USD pair approaches a crucial support level, the technical indicators suggest a potential for upward movement. However, traders should remain vigilant of the upcoming economic data releases and consider how they might influence market dynamics. Combining technical analysis with fundamental insights will enhance the likelihood of making well-informed trading decisions during this pivotal moment.
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GBP-USD Resistance Ahead! Sell!
Hello,Traders!
GBP-USD is making a local
Rebound but a horizontal
Resistance is ahead at 1.2639
So after the retest we will be
Expecting a local bearish pullback
And a move down
Sell!
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DeGRAM | GBPUSD rebound in the channelGBPUSD is moving in a descending channel between the trend lines.
Price is moving from the lower boundary of the channel and dynamic support, and is now above the 50% retracement level of the rebound correction.
The chart is maintaining a downward structure.
At the current moment, the pair's chart looks bearish, but is clearly preparing for a reversal, for which a rising bottom is yet to be formed.
We expect the rebound to continue if GBPUSD forms a rising bottom and consolidates above the 50% retracement level.
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GBPUSDThis week's forecast is for the price to rise to the area between 1.2721 and 1.2787, retesting the pivot at 1.2757, where we will find the EMA200.
DeGRAM | GBPUSD trend line testingGBPUSD is in a descending channel between the trend lines.
The chart still maintains the descending structure.
The price has already reached the lower boundary of the channel and the dynamic support, which has already acted as a rebound point last time.
MACD and RSI indicators on the 1H Timeframe indicate the formation of divergence.
We expect a rise if GBPUSD can successfully hold the lower trendline.
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check the trendIt is expected that the trend will change in the specified resistance range and we will witness the start of the trend.
If the price crosses the resistance range, there is a possibility of an upward and fluctuating trend.
gbpusd middle risk here can go for buy and sell
gbpusd middle risk here can go for buy and sell lets set our sell stop and buy stop fro 200pips target lets trade safe and secure never forget to follow risk management best regards Alex 😀
GBPUSD Potential DownsidesHey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.26000 zone, GBPUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.26000 support and resistance area.
Trade safe, Joe.
BUYSJust testing my old trading strategy looking for a buy here its been a nice trend reversal lets see if there is more juice to keep pusing
GBP/USD - LONG POSITION I believe that GBP/USD is presenting a strong buying opportunity based on my analysis. The currency pair is currently rejecting the 78.6% Fibonacci retracement level, which is a significant technical indicator suggesting a potential reversal or retracement. This level often acts as a key decision zone where buyers regain control after a pullback.
To validate this setup, I am closely monitoring the price action for strong wick rejections and bullish candlestick patterns, as these are reliable signals of a reversal. If these confirmations occur, I plan to enter a buy position with a well-defined stop-loss placed just below the 78.6% level to minimize risk.
This trade setup offers an excellent risk-to-reward ratio of 1:4, meaning for every 1% of risk, there is the potential to gain 4%. Such a favourable ratio ensures that even if some trades fail, the profitable ones outweigh the losses.
Additionally, I am considering other confluences to strengthen my confidence in this trade. These include:
1. Momentum Indicators: Observing divergence on the RSI or MACD for signs of bullish momentum.
2. Trend Continuation: Ensuring the broader trend aligns with this reversal; for example, a higher timeframe uptrend would support this buy idea.
3. Volume Analysis: Looking for increased buying volume around this level, which often signals institutional activity.
It’s also crucial to stay updated on any upcoming economic data releases or news events that could impact GBP or USD, such as interest rate decisions, inflation reports, or geopolitical developments. These events could either reinforce or disrupt the technical outlook.
Overall, I believe this trade has a solid probability of success if the technical and fundamental conditions align. By sticking to the plan and maintaining discipline with risk management, this setup has the potential to be highly rewarding.
GBPUSD LOOKS BULLISH TO MEHi people
I can see some Buyers entre the market , Thats makes move market up
So i am Bullish on GBPUSD for couple of week, Toward end of this month buyers will be finished
Best of Luck
GBPUSD Buy Setup"All Insights are given on Chart"
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Note :
Do your own Research and Trade Wisely Never rely on my opinions.
Good Luck folks
Bearish drop?GBP/USD is reacting off the resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could drop from this level to our take profit.
Entry: 1.2615
Why we like it:
There is an overlap resistance level that aligns with the 50% Fibonacci retracement.
Stop loss: 1.2725
Why we like it:
There is an overlap resistance level.
Take profit: 1.2486
Why we like it:
There is a pullback support level.
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GBPUSD TRADE SETUPPair: GBPUSD
✔ Classic Bearish formation
GBPUSD is holding continuous down Trend so after market retracement I can take sell entry. If your analysis matches it take a trade otherwise skip the trade.
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GBPUSD daily Market outlook!GBPUSD DAILY MARKET OUTLOOK seems promising for buyers as we may likely see some bullish price action developments away from that level. It’s a good too to go Long on the pair. A good risk to reward is anticipated.
USD Expected to Strengthen: A Structured Economic Analysis.The coming week is anticipated to witness the strengthening of the USD, driven by a combination of robust US economic fundamentals and global uncertainties that shift investor attention toward safe-haven assets. Below is a comprehensive analysis of why the USD's strengthening trend is becoming increasingly evident.
1. Strength of the US Economy:
The US economy continues to demonstrate impressive performance. Strong retail sales and stable consumer spending reflect high consumer confidence. In the upcoming week, reports on durable goods orders and personal income are expected to show positive growth, signaling that the US economy remains resilient despite a high-interest-rate environment.
Moreover, controlled inflation provides room for the Federal Reserve to maintain elevated interest rates. This approach enhances the appeal of US bonds and assets, thereby supporting demand for the USD.
2. Hawkish Stance of the Federal Reserve:
The Federal Reserve has reaffirmed its hawkish stance in recent meetings, committing to maintaining high interest rates until inflation returns to the 2% target. This approach has triggered increased capital inflows into US markets as high-interest rates improve investment returns denominated in USD. Global investors view the USD as the currency of choice in a tight monetary environment.
3. Global Uncertainty Favors Safe-Haven Assets:
Amid a market climate overshadowed by geopolitical and global economic instability, investors are gravitating toward safe-haven currencies like the USD. Factors such as economic slowdowns in the UK and the eurozone, global trade tensions, and domestic political risks in major economies further bolster the USD's position as a top choice for investors.
4. Weakness of Competing Currencies:
The GBP and EUR are expected to remain under pressure in the coming week. UK economic data reveal weaknesses in the labor market, burdensome inflation on consumers, and sluggish growth. Similarly, the eurozone faces challenges with persistent inflation and a slowdown in the manufacturing sector. These uncertainties create opportunities for the USD to dominate currency pairs such as GBP/USD and EUR/USD.
CONCLUSION
The USD is projected to maintain its strengthening trend next week, supported by robust US economic fundamentals, the Federal Reserve's consistent monetary policy approach, and global risk sentiment favoring safe-haven currencies. For investors, strategies that capitalize on the USD's strengthening could present opportunities to leverage current trends in the global financial markets.
This scenario confirms that the USD is not only a protective asset during global uncertainties but also a symbol of the resilience of the United States economy.
TIME KEY TRADE: Monday's Critical Opportunity.
Next Monday presents a critical trading opportunity for EUR/USD and GBP/USD, as both pairs are expected to form peaks before declining to new lows.
GBPUSD analysis for 2025I see a Falling Wedge pattern, if Monday we fail to break the resistance we are going to SELL all the way to 1.18957.
GBPUSD H1 OUTLOOK(23/11/2024)The chart presents two critical POIs, anticipating bearish movement upon retracement, targeting the lower BOS.
Daily CSL, HTF FVG, Model 2Daily CSL, HTF FVG, Model 2
you are welcome to comment with your thoughts and share your charts or questions below, I like any constructive discussion.
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Good luck and I hope this educational post helps to become better trader
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