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British Pound / U.S. Dollar

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GBPUSD trade ideas

BoE's plans for additional rate cuts are in conflict Expectations are mounting that the BoE would implement additional rate cuts. BoE Governor Andrew Bailey has stated that inflation is decreasing more rapidly than anticipated. The UK CPI for September registered at 1.7%, falling short of the central bank's 2% target, which has intensified speculation about upcoming rate increases. Wall Street is convinced that with UK inflation already below the target, there's a strong likelihood of additional rate cuts in November and December following the recent 25bp reduction. However, there are concerns regarding the potential aftereffects of hasty rate cuts. BoE economist Catherine Mann emphasizes that, despite a general slowdown in inflation, service price inflation continues to soar. She warns that an impulsive rate hike could reignite inflationary pressures. GBPUSD advanced to the 1.3000 threshold. After breaching the descending channel’s upper bound, the price holds above both EMAs, signaling a trend reversal. If GBPUSD breaches the resistance at 1.3045, the price may gain upward momentum toward 1.3265. Conversely, if GBPUSD fails to hold above both EMAs, the price may break the channel’s upper bound again and re-enter the descending channel.
by inkicho_exness
GBP/USD Testing Key Resistance: Time to Short the Pound?Let's break down the market structure on GBP/USD. Starting with the weekly chart, we can see that price has been respecting that yellow weekly support at 1.28626 and hasn't closed below it yet. However, GBP/USD has struggled to break back above the 21 EMA, which is sitting around 1.30468, and looks like it could face more downside pressure unless it can retest those higher levels. The next key weekly resistance is 1.31578, which is a long way up if bulls decide to take control, but so far, the bearish trend is holding. On the daily chart, price is attempting a slight recovery after bouncing off that daily support at 1.29000, but notice how the 8 and 21 EMAs are still trending down. We can see that the candles are showing some buying momentum, but until we see a strong close above the daily resistance at 1.30162 or even higher around 1.31093, this looks like a potential sell opportunity on the pullback. If price fails to close above 1.30162, we could see a continuation down to retest 1.28626 or even 1.27467. Looking at the 4-hour chart, we see that GBP/USD has broken above the trendline resistance and is now sitting right at that key daily resistance. I'm watching for either a solid rejection here or a breakout confirmation. If I see bearish price action forming here, I'd look to sell around 1.30139 with stops above the 1.30500 mark and target 1.28626 for a quick ride down. If we get a breakout above 1.30162, though, I'd wait for a retest to get in on the long side. We want to be in and out by Friday, so let's stay sharp and trade smart! Happy trading fam, let’s get these pips!
Short
by SheenaL
Is GBPUSD ready to break out?Is GBPUSD ready to break out? Is the USD getting weaker? I think so, but best to wait and find out. This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster. If you like my idea, please give a “boost” and follow me to get even more. Please comment and share your thoughts too!! It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros
Long
by Trading_Vista
High probability trade in minutes Asia Monday GBPUSD Long Here is a trade I will take once the liquidity picks up as its still pre-market in Australian Monday trading and liquidity and spreads will be much better in a couple of hours. The trade is Long GBPUSD along the lines of the Daily chart 200ema where I expect price to continue to respect it and the influence of the ema right on price will spark renewed interest from traders during Monday. Standby for about 1 to 2 hours and I will provide my entry, SL and potential TP. Cheers, Chris
Long
by Easy_Explosive_Trading
1
GBPUSD with two probabilities for 10/29/2024GBPUSD with a high probability to make the decision for 10/29/2024 ✅️ : 🔸️If the price exceeds the green bar 🟩, with the bar closing in the hour above: there will be a high chance of entering a purchase as indicated in the chart, respecting the day, news and the stop loss. 🔸️If the price exceeds the red bar 🟥, with the bar closing in the hour below: there will be a high chance of entering a sale as indicated in the chart, respecting the day, news, and the stop loss.
Short
by Abderrahmane_24
GBPUSD Bearish Sentiment Today's analysis continues to give a bearish prediction. However, in forex, anything can happen as we still have a bullish trend in the daily timeframe playing out. We look There are some uncertainties but we know we are currently on a key level that has retested and moving on the downside. Let's see how the market plays out before taking a position. However, my bias is bearish on the monthly time frame as we are looking forward to seeing more bearish months ahead. Except a piece of good news from the Pound to make it bullish or something goes wrong in the US economy that gives the Pound an advantage to rise.
Short
by TRADE2PROFIT_ACADEMY
Bearish drop?The Cable (GBP/USD) has reacted off the pivot which has been identified as a pullback resistance and could srop to the 1st support which acts as a pullback support. Pivot: 1.2989 1st Support: 1.2915 1st Resistance: 1.3033 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Buy Position on GBPusd (Reward 6.5)OANDA:GBPUSD In order to the EX zone in 4H time frame, We go to 15m time frame to enter the buy position more efficiently. Note: In EX zones, we can enter the position without any confirmation, but we always get better win rate by waiting for a confirmation signals to form. The confirmation signals in my strategy (Tactical Smart Money) are two kind: 1. SCOB (single candle order block) 2. ChoCh in lower time frame As always: Make sure you have a good partial exit plan, AND "KEEP CALM & OBEY YOUR PLANS." Happy trading.. Cheers, Aurio #Crypto #Trading #Bitcoin #markets #Finance #Forex #BTC CRYPTOCAP:BTC
Long
by x-Aurio