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British Pound / U.S. Dollar

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GBPUSD trade ideas

Market Analysis: GBP/USD RecoversMarket Analysis: GBP/USD Recovers GBP/USD started a fresh increase above the 1.2400 zone. Important Takeaways for GBP/USD Analysis Today - The British Pound is eyeing more gains above the 1.2465 resistance. - There was a break above a key bearish trend line with resistance at 1.2390 on the hourly chart of GBP/USD at FXOpen. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair formed a base above the 1.2330 level. The British Pound started a steady increase above the 1.2360 resistance zone against the US Dollar, as discussed in the previous analysis. There was a break above a key bearish trend line with resistance at 1.2390. The pair surpassed the 50% Fib retracement level of the downward move from the 1.2549 swing high to the 1.2332 low. The pair gained strength above the 1.2420 level and the 50-hour simple moving average. The pair tested the 1.2460 zone and is currently consolidating gains. The bulls are now active near the 1.2440 level. If there is another decline, the pair could find support near the 1.2395 level. The first major support sits near the 1.2365 zone. The next major support is 1.2330. If there is a break below 1.2330, the pair could extend the decline. The next key support is near the 1.2250 level. Any more losses might call for a test of the 1.2150 support. Conversely, the bulls might aim for more gains. The RSI moved above the 60 level on the GBP/USD chart and the pair is now approaching a major hurdle at 1.2465 and the 61.8% Fib retracement level of the downward move from the 1.2549 swing high to the 1.2332 low. An upside break above the 1.2465 zone could send the pair toward 1.2500. Any more gains might open the doors for a test of 1.2550. Trade on TradingView with FXOpen. Consider opening an account and access over 700 markets with tight spreads from 0.0 pips and low commissions from $1.50 per lot. 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 Possible IdeaDue to the pair consistently breaking lows and respecting highs on the daily timeframe, it was then evident that it is over all bearish. It recently broke the latest low on the daily timeframe, where it preceded to form a rising wedge to induce liquidity on both sides withing the daily range. Price has recently broke out of the wedge to the upside to mitigate a supply area just above it. This then could be the liquidity price could use to fuel its move to the downside to take out liquidity below the wedge as well as liquidity resting beneath our most recent low.
Short
by BlackTygaTrades
2
GBP/USD LONG POSITIONSGBP/USD 4H - This is an update from our Sunday Sessions analysis, as you can see price has played out perfectly, trading down and into the Demand Zone we had marked out. After trading down and into this area we have seen price go on to set new highs which is great as price continues to put in bullish structure. We should be actively looking to go long in this market until price breaks a protected low set within the 4h timeframes, once we have relevance to go short we will do but until then look to go long. If you look closely price has recently come to clear the inefficient structure that was created from this large green candle. Now would be the perfect time to look for areas to go long from.
Long
by Lukegforex
GBP/USD Approaching Key Reversal ZoneThe GBP/USD pair has reached a critical resistance area around 1.2658, aligning with the 1.13 Fibonacci extension level of the harmonic Gartley pattern. The price action suggests potential exhaustion in the bullish trend, with signs of rejection near this level. A confirmed reversal could lead to a corrective move towards key support zones at 1.2456 and 1.2320. However, if the pair sustains above 1.2685, further upside towards 1.2732 and the HOP level at 1.2843 remains possible.
Short
by BeaucoupPips
GBP/USD: Flat Wave 2 Sets Stage—Will Wave 4 Zigzag or Triangle?Hello fellow traders! Dive in to explore our quick take on GBP/USD’s Elliott Wave action—happy trading! Wave 1 & Wave 2 The initial leg up (Wave 1) established the start of an impulse. Wave 2 appears to have formed a flat correction—a relatively sideways pattern characterized by three sub-waves (A-B-C), where Wave B can sometimes move slightly beyond the start of Wave A. The flat structure in Wave 2 set the stage for a strong Wave 3 advance. Wave 3 Typically the most powerful and extended wave in an impulse, Wave 3 pushed prices higher in a clear, sustained trend. Fibonacci extensions often confirm Wave 3’s prominence, with price sometimes reaching 161.8% or more of Wave 1. Wave 4 Following Wave 3, a corrective Wave 4 is unfolding. Because Wave 2 was a flat, the principle of alternation suggests Wave 4 could take a different shape, such as a zigzag (A-B-C) or a triangle. Currently, the structure hints at a zigzag (a more vertical three-wave pattern), but there’s also a possibility of a triangle if price consolidates in converging trendlines. Wave 4 triangles are fairly common, especially when they alternate with a flat in Wave 2. Potential Outcomes for Wave 4 Zigzag Completion: If the corrective phase remains a zigzag, we’d look for a clearer three-wave structure (A-B-C) to complete near typical retracement levels (e.g., 38.2% or 23.6% of Wave 3). Triangle Formation: If the market continues to range and create overlapping waves, watch for lower highs and higher lows converging into a triangle. This pattern could prolong Wave 4’s duration before the final Wave 5 upswing begins. Wave 5 Outlook After Wave 4 concludes, look for Wave 5 to emerge. Targets often use Fibonacci projections—e.g., measuring Wave 5 against the length of Wave 1 or against the net distance of Waves 1+3. A common extension is the 61.8% or 100% projection of (Wave 1 + Wave 3), which can help identify potential price levels for Wave 5’s completion. Key Takeaways The broader picture shows an impulsive five-wave move in progress. Wave 2 being flat suggests Wave 4 is likely to be a different pattern (zigzag or triangle), aligning with the principle of alternation. If Wave 4 forms a triangle, it may extend the corrective phase, but the ensuing Wave 5 rally often emerges strongly once the triangle completes. Monitoring Fibonacci retracements and extensions will be crucial to pinpoint likely support for Wave 4 and resistance targets for Wave 5. As always, monitor price action and confirm the wave structure with technical indicators or additional confluence before taking a trading position.
Long
by TheSignalService
GBP/USD: Bullish Momentum Faces Key ResistanceGBP/USD has reached its highest point since mid-December at 1.2690, primarily driven by the weakness of the US dollar. The pair has shown strong momentum, and as long as it holds above the key support at 1.2520, analysts see potential for further upside toward 1.2725. Positive UK economic data, including better-than-expected retail sales and inflation figures, have reinforced a bullish outlook for the pound. However, minor retracements have been observed, with slight declines following recent gains, such as the 0.05% drop on February 24. Market volatility remains a factor, with geopolitical tensions and fluctuating commodity prices impacting the dollar’s strength. From a technical standpoint, the price is currently testing a resistance zone while approaching key moving averages, which could act as dynamic resistance. The presence of supply zones above suggests that the pair could face selling pressure before a potential continuation higher. If the price fails to sustain above the resistance area, a retracement toward the 1.2520 level and possibly deeper into the 1.2400 region could materialize. Despite the recent bullish momentum, caution is warranted due to broader market uncertainties, and future movements will depend on economic indicators from both the UK and the US, as well as overall market sentiment.
Short
by Forex48_TradingAcademy
1
GBPUSD Buy Trade Idea 📈 GBPUSD Buy Trade Idea 📈 Looking for a move towards 1.2648 as price starts showing signs of recovery. 🔹 Current Price: 1.2630 🔹 Target: 1.2648 🔹 Deadline: Feb 25, 02:30 UTC This is the direction—now it's up to you to implement your own strategy on how you want to enter. Stick to your plan, manage risk, and let’s see how it plays out! 🔥 Drop your thoughts below! 👇🏼 #GBPUSD #ForexTrading #TechnicalAnalysis #PriceAction #TradeSetup #MarketMoves #ForexStrategy
Long
by GlobalHorns
GBPUSD INTRADAY bullish above 1.2517The GBPUSD currency pair intraday price action sentiment appears bullish, supported by the longer-term prevailing uptrend. The key trading level is at 1.2517, the 05th Feb ‘25 swing high. A corrective pullback from the current overbought levels could target the downside support at 1.2517. A bullish bounceback from the rising support at 1.2517 could target resistance at 1.2680 followed by 1.2720 and 1.2740 levels over the longer timeframe. Alternatively, a confirmed loss of 1.2517 support and a daily close above that level would negate the bullish outlook opening the way for further retracements and a retest of 1.2450 support level followed by 1.2400. 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
Learning Risk Management in Forex – A Step-by-Step ApproachAlthough I traded since 2004, but I actually started my trading learning journey in 2022. All what I did before was a waste of time. I did another mistake in 2022. I wanted to teach myself technical analysis, and come up with a trading methodology that was suitable for me. That in itself is not a mistake, but starting with that aspect of trading was my mistake. I realized that the first step should have been how to learn risk management in Forex trading. As I continue my forex trading journey, I’ve realized that risk management is not just an add-on to a strategy—it’s the foundation of long-term survival. I’m sharing what I’m learning in the hopes that it helps others who are also figuring things out. Here are a few key lessons I’ve come across: Set a Fixed Risk Per Trade – Many experienced traders risk no more than 1 to 2 percent of their capital per trade. I’ve started applying this to keep losses manageable. Define a Clear Stop-Loss Level – I used to place stops based on random numbers, but now I focus on market structure instead. This has made a difference in protecting my trades. Use a Favorable Reward-to-Risk Ratio – I’ve been experimenting with a 1:2 ratio, meaning I aim for at least twice the reward compared to the risk. It helps keep my winners bigger than my losses. Adjust Lot Size Based on Risk – This is something I’m paying more attention to. Calculating lot size based on risk per trade and stop-loss distance keeps things consistent. Avoid Emotional Decision-Making – Sticking to a plan is harder than it sounds, but I’m learning that discipline is just as important as technical analysis. I will write more about this and go deeper in each part of Forex trading risk management until I reach a level where I find myself set on my risk management plan. I'm documenting more of my trading journey on my profile—feel free to check it out if you're interested. How do you approach risk management in your trading? Let’s discuss in the comments.
Education
by TheInvestor_Diary