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GBPUSD.P trade ideas

GBPUSD resistance test ahead of UK employment data, BoE speechThe GBPUSD currency pair price action sentiment appears bearish, supported by the longer-term prevailing downtrend. The key trading level is at 1.2600, the current swing high. A bearish rejection from the 1.2600 level could target the downside support at 1.2517 followed by 1.2400 and 1.2330 levels over the longer timeframe. Alternatively, a confirmed breakout above 1.2600 resistance and a daily close above that level would negate the bearish outlook opening the way for further rallies higher and a retest of 1.2650 resistance level followed by 1.2700. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
GBPUSDHello Traders! 👋 What are your thoughts on GBPUSD? The price has successfully broken its downward trendline and, after a successful pullback, has also broken through a key resistance level to the upside. Currently, the price is consolidating above the broken resistance, which indicates strong buyer momentum and a potential continuation of the uptrend. Given the current market structure, the price is likely to experience a minor pullback and consolidation before continuing its upward movement. Don’t forget to like and share your thoughts in the comments! ❤️
Long
by HAMED_AZ
8
GBP/USD: Selling into the reboundThe setup is similar in EUR/USD & GBP/USD - because of the dollar in both major pairs! The GBP price is testing the broken uptrend line on the weekly- and could break above it. On the daily chart, a downtrend line has already broken and so has critical resistance at 1.25, suggesting a break above the weekly uptrend line Should the breakout follow-through it faces resistance at 1.28 from the December high and 30 week (150 day) moving average. However, should the breakout fail - it sets up a likely continuation of the longer term downtrend.
Short
by jasperlawler
2
GBPUSD: Poised for Another Rally?On the 3-Day time frame, the relative strength indicator appears to be forming an inverted head and shoulders pattern formation below the 50 neutral zone. This pattern could boost bullish momentum above both the 50 level and 1.2630 threshold - pushing the RSI towards the 60 zone and testing the 1.28 resistance level. This setup aligns with the trendline connecting the consecutive lower highs from 2014 to 2021. A firm break beyond the 1.28 mark can extend gains towards the 1.2950 level, aligning with the 0.618 Fibonacci retracement level measured from the September 2024 high of 1.3434 to the January 2025 low of 1.21. On the downside, a move below 1.25 may reverse gains toward 1.2360, 1.2280, and 1.21- the final barrier before a potential bearish extension toward 1.17. Key Events to Watch this week: - UK Claimant Count Change (Tuesday) - UK CPI (Wednesday) - UK Flash Manufacturing and Services PMI (Friday) - Razan Hilal, CMT
by FOREXcom
1
GBPUSD Will Go Up! Long! Here is our detailed technical review for GBPUSD. Time Frame: 12h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The price is testing a key support 1.244. Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 1.261 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
GBP/USD Rally: Is 1.28 the Next Target?In my post last week about GBP/USD, I mentioned that as long as the 1.23 support remained intact, the pair could rise toward the 1.26 resistance level and that buying dips below 1.24 could be a good strategy. Indeed, the pair climbed to 1.26 on Friday, which raises the question—what’s next? In my view, GBP/USD is likely to continue its ascent, with the next bullish target being the 1.28 resistance zone. In conclusion, dips around the 1.25 support could present buying opportunities, with invalidation below 1.24 and a target at the 1.28 resistance level. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Long
by Mihai_Iacob
5
#GBPUSD 1DAYGBPUSD (1D Timeframe) Analysis Market Structure: The price has broken above the downtrend resistance, indicating a potential shift from bearish to bullish momentum. This breakout suggests that buyers are gaining control, but further confirmation is needed before entering a position. Forecast: A buy opportunity may arise after a retest of the broken resistance level, which could now act as support. Key Levels to Watch: - Entry Zone: Wait for a retest of the breakout level and confirmation of support before considering a buy position. - Risk Management: - Stop Loss: Placed below the retest level or recent swing low to manage risk. - Take Profit: Target higher resistance levels or key areas for potential upside movement. Market Sentiment: The breakout above the downtrend resistance is a sign of potential bullish movement, but patience is needed to ensure the price holds above the retested level before entering a trade.
Long
by PIPSFIGHTER
GBP/USD Bearish Outlook – Technical & Fundamental ConfluenceGBP/USD remains in a well-defined downtrend, respecting a descending channel and key resistance levels. The pair recently tested the upper boundary of the channel near 1.2609, aligning with the 38.2% Fibonacci retracement level and the 200-day moving average, suggesting strong bearish rejection. Technical Outlook: • Price Action: GBP/USD has formed lower highs and lower lows, indicating sustained selling pressure. • Trendline & Resistance: The pair remains below the long-term descending trendline, with 1.2609 acting as a major resistance zone. • Indicators: • RSI: Approaching overbought territory, increasing the likelihood of a reversal. • MACD: Bearish momentum is building, suggesting potential downside continuation. • Target Levels: • Short-term support: 1.2330 – Break below this level could trigger further downside. • Major target: 1.1835 – A measured move projection based on the channel pattern. Fundamental Factors: • BoE Dovish Stance: The Bank of England recently cut rates to 4.5%, citing economic concerns, contrasting with the Federal Reserve’s steady rate policy, which supports USD strength. • UK Inflation Concerns: Inflation is expected to rise to 2.8% due to VAT increases and higher airfares, potentially complicating BoE’s policy direction. • US Economic Strength: Strong US economic data, including GDP growth and resilient labor markets, further bolster the USD. • Geopolitical Uncertainty: Potential US tariffs on UK exports could add additional downside pressure on GBP. Trade Idea: • Bias: Bearish • Entry: Below 1.2330 on confirmed breakdown • Target: 1.2099, with potential for 1.1835 • Stop-Loss: Above 1.2609 to invalidate the bearish structure Conclusion: GBP/USD remains under selling pressure both technically and fundamentally. A confirmed breakdown below 1.2330 could accelerate bearish momentum toward the next key support levels. Traders should watch for price action signals and remain cautious of any unexpected shifts in macroeconomic data.
Short
by parraggon
2
Fundamental Market Analysis for February 17, 2025 GBPUSDThe GBP/USD pair is trading slightly higher near 1.25850 in the early Asian session on Monday, rising on the back of a positive UK Gross Domestic Product (GDP) report and weak US retail sales data.The US market will be closed on Monday due to the Presidents' Day holiday.US retail sales posted their biggest drop in nearly two years, dragging down the dollar. The Commerce Department's Census Bureau reported on Friday that retail sales fell 0.9 per cent in January after an upwardly revised 0.7 per cent rise in December, which was weaker than the 0.1 per cent decline that had been forecast. On a year-over-year basis, retail sales rose 4.2 per cent during the same reporting period.Stronger than expected UK GDP figures provide some support for the Pound Sterling (GBP). According to the UK Office for National Statistics (ONS), the UK economy grew by 0.1% quarter-on-quarter in the fourth quarter of 2024, beating expectations. Traders will be monitoring the UK labour market and Consumer Price Index (CPI) inflation data, which will be released on Tuesday and Wednesday, respectively. These reports may provide some indication as to whether the Bank of England (BoE) will cut interest rates again at its March meeting. Trading recommendation: GBPUSD: SELL 1.25800, SL 1.26300, TP 1.25100
Short
by Fresh-Forexcast2004
GBPUSD 1HOUR CHART TECHNICAL ANALYSIS NEXT MOVE POSSIBLE This is a GBP/USD 1-hour chart published on TradingView. Here’s what it suggests: 1. Uptrend and Pullback: The price was in an upward channel but recently pulled back. 2. Support Zone (Blue Box): The highlighted blue area represents a potential support zone where price may bounce. 3. Resistance Level (1.26274): The red line above acts as resistance, where price may struggle to break. 4. Projected Move (Black & Blue Arrows): The blue arrow suggests a possible bounce from support, leading to a break of resistance. The black arrow indicates a bullish breakout continuation if resistance is broken. This analysis suggests a long trade setup if GBP/USD respects the support and breaks resistance. Do you plan to trade based on this?
Long
by DavidHills110
GBP/USD - Weekly OutlookHi all, Top Down Analysis Daily- Same figure as last weeks except breakout has been confirmed. I would expect price to return to the break before looking for larger Buy setups. 4H will explain this further 4H- Same as last week expect I notice all imbalance has been filled telling me bullish BIAS is still in play. Price has left one single Demand zone to return too so I will be making a trade of this 4H Mitigation 1H- As you can see I did predict the previous move pretty well so currently I do expect fundamentals to push price further down into this Demand zone to then push out of. I have marked a protected Low. We will watch this area before looking for trades Good luck to any traders that follow this system
by jamesibartram
1