GBPUSD Double Trouble After back to back rate decisions. H4 will reach Simple Moving Average 200. Before shift to bearish when H1 passes Simple Moving Average 5.
GBPUSD trade ideas
GBPUSD Wave Analysis 7 November 2024
- GBPUSD reversed from support level 1.2840
- Likely to rise to resistance level 1.3050
GBPUSD currency pair recently reversed up from the support level 1.2840 (which stopped the previous intermediate correction (A) at the end of October).
The upward reversal from the support level 1.2840 created the daily Japanese candlesticks reversal pattern Piercing Line.
Given the clear daily uptrend and the strong US dollar sales seen today, GBPUSD currency pair can be expected to rise to the next resistance level 1.3050 (top of the previous minor correction 4).
GBP/USD tests key 1.30 handle ahead of FOMCThe pound rallied following the Bank of England’s decision to cut interest rates earlier. Governor Bailey refrained from defining what “gradual” would mean for the pace of future cuts. The GBP/USD rally was aided by a sharp drop in the US dollar. The focus is now turning to the FOMC rate decision, which means the greenback could change course again.
The Bank of England lowered rates by 25 basis points to 4.75%, aligning with market expectations. The Monetary Policy Committee voted 8-1 in favor of the cut, as anticipated. However, the BoE maintains it can’t lower rates “too quickly or by too much,” opting instead for a more measured approach. The central bank sees a gradual easing as appropriate, keeping to its September guidance on rates.
The recent budget is expected to lift inflation slightly, adding around 0.5% to CPI at its peak according to the BoE —just above the forecast from the Office for Budget Responsibility (OBR). Like the OBR, the BoE isn’t expecting significant economic growth from this budget. As it stands, the Bank intends to continue cutting rates gradually over the coming months. This should keep the GBP under pressure.
Will the GBP/USD now hold below the key 1.30 handle or break above it? What it does here will determine the near-term direction. All eyes are on the Fed Chair Powell.
The Fed could shed light on the central bank’s next steps. Markets are fully expecting a 25-basis-point reduction. Chair Powell may steer clear of any commitment to a rapid easing cycle, especially if he believes Trump’s policies could drive inflation. Any indication of hawkishness could boost bond yields further, which could give the dollar another boost. Even though rate expectations have shifted, significant changes in market trends are unlikely in the immediate term. However, over the coming quarters, rising US yields could strengthen the dollar, adding pressure on other economies while supporting the US market’s broader trend.
By Fawad Razaqzada, market analyst with FOREX.com
gbpusd buygbpusd made a good move upward . we expected more buyer
the volatility is not really good but we keep buyers sentimet
Gbpusd Bullish Move Confirm Setup GBP/USD builds its recovery momentum above 1.2900 in European trading on Thursday, moving away from its lowest level since mid-August. Traders adjust their positions ahead of the key BoE and Fed monetary policy announcements.
Examining the GBP/USD chart on the 4-hour timeframeHere is a detailed analysis along with suggested entry, take profit (TP), and stop loss (SL) levels based on a 1:3 risk-to-reward ratio.
Analysis:
1. Trend Observation:
The pair recently had a strong downtrend from late September, indicating bearish momentum. While it attempted to rally afterward, GBP/USD continues to show lower highs and lower lows, suggesting a potential continuation of the downtrend.
2. Key Support and Resistance Levels:
Resistance: Around 1.3080 and 1.3150, where previous rallies have been capped.
Support: Around 1.2870 and 1.2750, where the price has shown buying interest.
3. Potential Scenarios and Setups:
Bearish Scenario (Continuation of Downtrend):
GBP/USD could move lower if it fails to break above 1.3080 resistance, which would confirm continued selling pressure.
Signs of bearish continuation patterns around this level would support this setup.
Bullish Scenario (If Price Finds Support):
If GBP/USD holds above the 1.2870 support level, a short-term retracement could occur.
Watch for bullish reversal signals around this area to confirm a possible pullback.
Strategy Summary:
1. Risk-to-Reward Ratio: Both setups have approximately a 1:3 risk-to-reward ratio.
2. Market Confirmation: Wait for confirmation patterns, such as candlestick patterns, near the entry levels before entering.
3. Economic Event Monitoring: GBP/USD can be influenced by key UK and US economic data, as well as any developments on interest rates or economic outlook from the Bank of England and Federal Reserve.
Examining the GBP/USD chart on the 4-hour timeframeHere is a detailed analysis along with suggested entry, take profit (TP), and stop loss (SL) levels based on a 1:3 risk-to-reward ratio.
Analysis:
1. Trend Observation:
The pair recently had a strong downtrend from late September, indicating bearish momentum. While it attempted to rally afterward, GBP/USD continues to show lower highs and lower lows, suggesting a potential continuation of the downtrend.
2. Key Support and Resistance Levels:
Resistance: Around 1.3080 and 1.3150, where previous rallies have been capped.
Support: Around 1.2870 and 1.2750, where the price has shown buying interest.
3. Potential Scenarios and Setups:
Bearish Scenario (Continuation of Downtrend):
GBP/USD could move lower if it fails to break above 1.3080 resistance, which would confirm continued selling pressure.
Signs of bearish continuation patterns around this level would support this setup.
Bullish Scenario (If Price Finds Support):
If GBP/USD holds above the 1.2870 support level, a short-term retracement could occur.
Watch for bullish reversal signals around this area to confirm a possible pullback.
Strategy Summary:
1. Risk-to-Reward Ratio: Both setups have approximately a 1:3 risk-to-reward ratio.
2. Market Confirmation: Wait for confirmation patterns, such as candlestick patterns, near the entry levels before entering.
3. Economic Event Monitoring: GBP/USD can be influenced by key UK and US economic data, as well as any developments on interest rates or economic outlook from the Bank of England and Federal Reserve.
GBPUSD SELL until 1.2900Hello guys,
What do you think about this chart and drawings from it ? Is there a valid idea a SELL until 1.2900 ?
London Session Recap - GBPUSDTook 1 trade in London Session on GBPUSD. Breakout Setup on the Daily chart with a False Breakout setup on the H8.
Trade 3: GBP/USD - SL Hit - 0.05% from entryThings that might went wrong technically:
1. The price did not close below the 0.5 Fib retracement level while moving down from resistance, instead it took support at 0.5 fib retracement level. The same level also happened to have buyers' liquidity which is shown in red circle.
2. In 15min time frame, while the price was moving down from last few sessions, the EMA cross under occurred when the price was either below the Medium HMA or when the Medium HMA was above Shorter HMA. But when the trade was entered the Shorter HMA was above the Medium HMA.
3.In 5min time frame, while the Medium HMA was above the Shorter HMA and price, predicting a downward movement. In 15min the Shorter HMA was already above the Medium HMA, indicating an upward movement in 15min timeframe. So, it's better to enter trades in the direction where the overall MAs are moving, through finding the cross over or under according to the existing cross in higher time frames.
GBPUSD update lossUnfortunately guys GU took me out, but fortunately I had another entry on EU...
Good luck.
Next entry will be posted here.
GBPUSD_109 2024.11.07 05:47:10 Trading Signal BUYFrankPro Signal for GBPUSD_109
Type: Screen
Signal: BUY
TP: 1.29761
SL: 1.29185
Entry Price: 1.29257
Analysis for GBPUSD
Forecast Overall(Short-Term, Long-Term): ST= Strong Down LT= Strong Up
Forecast Methods(Short-Term, Long-Term):
ST=Down LT=Up
ST=Down LT=Up
ST=Down LT=Up
Analysis Method(0)
Based on the provided analysis, here are my predictions for the GBP/USD exchange rate:
**Short-term (next few days):**
* The price is expected to be highly volatile due to the US presidential election results and upcoming monetary policy decisions.
* Technical analysis suggests a potential fall to the 50% Fibonacci Retracement point at 1.2732, with a sell target at 1.2730 and a stop-loss at 1.3000.
* However, a breakout above 1.2900 could lead to a bullish scenario with a take-profit at 1.3000 and a stop-loss at 1.2730.
* Given the uncertainty and volatility, I predict the price to **go down** in the short-term, potentially testing the support area near 1.2865.
**Long-term (next few weeks/months):**
* The GBP/USD forecast suggests an attempt to test the support area near 1.2865, followed by potential growth with a target near 1.3235.
* A breakout above the resistance area of 1.3065 would confirm the growth option.
* Considering the potential for a rate cut by the Federal Reserve and the Bank of England, I predict the price to **go up** in the long-term, potentially reaching the target near 1.3235.
* However, if the price breaks below the support area of 1.2795, it could indicate a continuation of the decline, and the long-term outlook would be bearish.
Please note that these predictions are based on the provided analysis and are subject to change as new information becomes available.
Result: ST=Down LT=Up
Analysis Method(1)
Based on the provided analysis, here is my assessment of the expected price movement for the GBP/USD pair:
**Short-term (next few days):**
* The technical analysis suggests a bearish trend, with the pair moving below the 50-day and 100-day EMAs and below the Ichimoku cloud.
* The MACD indicator has moved below the zero line, and the RSI has moved downwards, indicating a potential continuation of the downtrend.
* The forecast suggests a potential decline to around 1.2725 if the pair breaks below 1.2795.
* High volatility is expected due to the US election results and upcoming economic announcements.
**Expected price movement in the short-term: DOWN**
**Long-term (next few weeks/months):**
* The impact of the US election on the GBP/USD pair is expected to be significant, but the long-term effects are uncertain.
* The Federal Reserve's interest rate decision and the Bank of England's interest rate decision may influence the pair, but the expected rate cuts may not have a significant impact.
* The technical analysis suggests a bearish trend, but the pair may potentially rise towards 1.3235 if it tests the support area near 1.2865.
* The long-term trend is uncertain, and the pair may experience high volatility due to various economic and political factors.
**Expected price movement in the long-term: UNCERTAIN (but potentially UP if the pair tests the support area and rises towards 1.3235)**
Please note that this analysis is based on the provided data and may not reflect the actual market movements. The foreign exchange market is highly volatile, and prices can change rapidly due to various factors.
Result: ST=Down LT=Up
Analysis Method(2)
Based on the analysis, here are my expectations for the GBP/USD price movement:
**Short-term (next few days):**
* The price is expected to go **down**. The bearish tendencies, "Head and Shoulders" pattern, and moving averages indicating a short-term bearish trend all suggest a downward movement.
* The pair is likely to test the support area near 1.2865 and potentially break below 1.2795, leading to a continuation of the decline to around 1.2725.
* The high volatility due to the US presidential election results and the Federal Reserve's interest rate decision may also contribute to a short-term decline.
**Long-term (next few weeks/months):**
* The price is expected to **stay the same** or potentially **go up**. Although the short-term trend is bearish, the pair is forming a correction and the "Head and Shoulders" pattern may be broken if the price rises above the resistance area and closes above 1.3065.
* A bullish scenario could see the pair rise to 1.3235, and the upcoming Bank of England (BoE) interest rate decision may also influence the long-term trend.
* However, the long-term outlook is less clear, and the price may remain range-bound or experience a sideways movement.
Please note that these expectations are based on the analysis provided and are subject to change as new market data and events become available.
Result: ST=Down LT=Up
GBPUSD InsightHello, subscribers!
Please feel free to share your personal thoughts in the comments, and don't forget to like and subscribe!
Key Points
- U.S. election concluded with Trump’s victory
- Anticipated dollar strength due to Trump’s policies on corporate tax cuts, regulatory easing, and tariff implementation
- Japan’s Chief Cabinet Secretary Yoshimasa Hayashi stated that they are closely monitoring foreign exchange movements, including speculative actions
- Christine Lagarde, ECB President, warned that heightened trade barriers, tariffs, or obstacles could negatively impact open economies like the Eurozone
- Bitcoin surged by 9.8%
- Dollar Index surpassed 105 points
Key Economic Schedule
- November 7: Bank of England rate decision
- November 8: FOMC meeting results announcement
GBP/USD Chart Analysis
With Trump’s victory, the dollar has strengthened. A short-term continuation of this dollar strength is expected, especially with the BOE and Fed rate decisions remaining in the final two days of the week, which could act as variables. Currently, the GBP/USD chart suggests a likely decline toward the 1.26000 level, followed by a potential rebound to 1.34000.
However, if unforeseen factors cause the 1.26000 level to break, it would signal a trend shift, prompting the need for a quick revision of our strategy.
Gbpusd Bullish IdeaGbpusd make A new HH On shorter TF, There is Also Bullish Divergence Spotted on Both 5 & 15min TF.
WHAT'S FLOWING (TRADE & TRAVEL): TRUMP IS PRESIDENT / STOCKS UP USDCHF (Buy): Strong buy signal; we see accumulation near key support levels, potentially indicating upward momentum.
EXY (Sell) : Bearish sentiment as the chart suggests downward pressure, possibly moving toward recent lows.
USDILS (Sell): Selling signal; volume profile hints at continued selling as the asset moves lower.
GBPUSD (Sell): Selling pressure is present here as well, with potential for further downside.
XAUUSD (Sell): Gold is showing bearish activity, possibly due to stronger USD, with indicators suggesting further declines.
Brent Crude (Sell): Oil is also under pressure, with signs pointing toward a downward move, likely influenced by recent supply data.
US2000 (Bull): Bullish outlook on this index, signaling potential upward moves as support levels hold.
HK50 (Sell): Strong selling sentiment on Hong Kong’s index, with steep drops in price action, indicating a risk-off sentiment in Asian markets.
GBPUSD TP hitAs you guys probably know by now I post entries and results, win or lose.
In this case it's a win.
Overnight price shot down after TP hit which I'm glad I had my take profit set, account up by over 100%.
Look out for more posts as I will post all entries and exits. Good luck and
Good trading guys.
GBP / USDKey Characteristics of GBP/USD:
Volatility: GBP/USD is known for its relatively high volatility compared to other major currency pairs, influenced by both U.K. and U.S. economic and political events.
Economic Sensitivity: The pair reacts to a variety of economic data, including interest rate decisions by the Bank of England (BoE) and the U.S. Federal Reserve, GDP growth, inflation rates, employment data, and trade balances.
Sensitivity to Political Events: Political changes in the U.K. and U.S., such as elections or Brexit developments, have historically impacted this pair significantly, often leading to sharp price movements.
Market Liquidity: GBP/USD is highly liquid but may see wider spreads during times of economic uncertainty, especially around major events or announcements.
GBPUSD 4H longThis setup was not interesting for me last week but this week it is.
The trend reached a weak and small demand zone so that's not interesting.
But given all the price action for the last 2 weeks arround this level it makes it a stronger support level.
Especially the strong bear candle so people ( including me ) think this will go bearish.
Then suddenly it goes bullish, this is how allot of people loose money and that is what "they" need to move the markets.
Entry trigger was because the price was bought up above the "weak" support line. Then we see some small indecision candles and after that another medium strong bull candle.
That is a bullish sign for me so I entered :)
There is off course US elections so high impact news but I will take that risk. The setup looks solid.
GBPUSD to the upsideTextbook Head & Shoulders
We will get a short bullish rally before the election results
GBPUSD possible entries.Looking at GU I foresee thIs area being a strong support especially on the H4 and H1 timeframe as price sought to take liquidity and respect FVG along with support zones...
Possible entries after H4 candle close
High probability trade.
Good luck guys
Read The GBPUSD MarketLet's Read the GBPUSD Chart and Looking at Price Actions to Prepare for start a great Week, Good Luck With Your Trades <3
GBP/USDFull Analysis of the GBP/USD Pair
1. Ascending Trend Line on the Daily Time Frame
The ascending trend line on the daily time frame shows a clear positive trend. This line is a strong indicator of upward momentum, reinforcing confidence in the possibility of the trend continuing.
2. Strong Demand Areas
Strong demand areas have been identified on the chart, representing potential buying zones. If the price bounces from these areas, we may witness strong buying pressure that supports the upward movement.
3. Appearance of a Harmonic Pattern
The presence of a harmonic pattern supports the upward movement and indicates good buyin opportunities.
4. Overbought Conditions in RSI and MACD
The overbought conditions in the RSI and MACD suggest a potential reversal. If the RSI is near the 30 level (oversold) and the MACD shows divergence, this may be a signal to look for buying opportunities.
Summary
Based on the analysis mentioned, it is recommended to look for buying opportunities at the specified support levels. 📈✨ It is always important to set clear stop-loss points and manage risk carefully to ensure capital protection. 🚀💰
