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British Pound / U.S. Dollar

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GBPUSD trade ideas

Will GBP/USD rise after new economic data is released?The GBP/USD currency pair is being influenced by a number of key economic and political factors. The rise is attributed to a weaker US dollar as markets assess the impact of economic policies in a second term for President Trump. The US dollar fell around 1% following news that any new tariffs would be applied in a “moderate” manner. The pound has gained against other major currencies, although weak economic data from the UK has put pressure on government bond yields. Experts predict the Bank of England (BoE) could cut interest rates by 100 basis points this year. However, today's economic data on Claims Change and Average Earnings Index 3M/Y is positive for GBP, so the currency could trend higher in the short term Forecast: GBP/USD is currently trading around 1.225… and will follow an upward trend towards the 4H trend line with a target of 1.24xx before falling. However, it should be noted that factors such as BoE monetary policy, US economic developments and Trump administration policy decisions will strongly influence the trend of this currency pair in the coming period. Thank you for reading my comment: "FM"
Long
by FM-ForexMastermind
1
Market Analysis: Bullish Harmonic Bat Pattern on GBP/USDOverview of the Setup : This chart highlights a **Bullish Harmonic Bat Pattern** on the GBP/USD pair, with the potential for a reversal to the upside after completing the pattern near the critical support zone. --- ** Key Observations: 1. Harmonic Pattern : - The **Bullish Bat Pattern** completes at point X (around 1.22628), which aligns with the 0.886 Fibonacci retracement level of the XA leg. This level represents a strong confluence of support and potential reversal. - The reaction at this zone suggests that buyers may be stepping in. 2. Price Action : - The recent downtrend has reached exhaustion at point X, with the price consolidating and showing signs of a potential reversal. - The price has formed a **lower wick**, indicating rejection of lower levels and possible bullish momentum building. 3. Fibonacci and Take-Profit Targets : - **Take-Profit Levels (TP):** - **T1:** 1.23541 (50% retracement of the XA leg). - **T2:** 1.24187 (0.618 retracement of the XA leg). - The harmonic structure suggests these levels as the most probable targets for a bullish reversal. 4. Indicators : - **Stochastic Oscillator:** In the oversold territory, signaling the likelihood of upward price movement as selling pressure weakens. - **RSI:** Approaching oversold levels, further supporting the bullish reversal hypothesis. 5. Key Levels : - **Support Zone:** Point X near 1.2260 is the critical level for the pattern’s validity. - **Resistance Zones:** MHQP at 1.2500 is a longer-term resistance, while intermediate resistance levels are 1.2350 and 1.2418. --- Outlook and Strategy : - **Bullish Bias:** The completion of the Bullish Bat Pattern and confluence of support suggest an opportunity for long positions targeting the Fibonacci take-profit levels (T1 and T2). - **Entry Zone:** Enter long positions near 1.2260 if price action shows sustained bullish rejection. - **Stop-Loss:** Place stops below 1.2220 to account for false breakouts. - **Targets:** - **T1:** 1.2350 - **T2:** 1.2418 Risk Factors : - A sustained break below 1.2260 would invalidate the pattern and could lead to continued bearish momentum toward 1.2200. --- This analysis highlights a bullish opportunity driven by the completion of the harmonic pattern, with clearly defined entry, exit, and risk parameters.
Long
by BeaucoupPips
GBPUSD: 1-2 Setup Signals Potential Bullish BreakoutFor GBPUSD, I assume that after completing a correction on the hourly chart, which paused at the key 61.8% Fibonacci retracement level, we have formed wave 1 of a new upward movement. Currently, we are finalizing wave 2, setting up a classic 1-2 structure, which often precedes a strong impulsive rally. A confirmed breakout above 1.24286 will validate this setup, signaling further bullish momentum and a potential continuation of the uptrend. This pattern aligns with similar structures forming across other USD pairs, suggesting a broader dollar weakening phase in the market. Should monitor price action closely and wait for wave 2 completion, looking for impulsive confirmation after the breakout for high-probability long entries.
Long
by The_Traders_Memoirs
GBP/USD Analysis by zForex Research TeamGBP/USD Recovers as Trump Pauses Tariffs, But Risks Persist The British pound rebounded above $1.24 after falling to $1.225, following Trump’s deal with Mexico’s President Sheinbaum to pause tariffs for a month. Uncertainty remains as Trump imposed 25% tariffs on Canada and Mexico, 10% on China, and threatened the EU and UK. Growing trade tensions have fueled expectations of Bank of England rate cuts, with markets pricing in 81bps of cuts by December and a 95% chance of a 25bps cut to 4.5% this Thursday. The first resistance level for the pair will be 1.2450. In the event of this level's breach, the next levels to watch would be 1.2500 and 1.2600. On the downside 1.2265 will be the first support level. 1.2100 and 1.1900 are the next levels to monitor if the first support level is breached.
by zForexcom
Fundamental Market Analysis for February 4, 2025 GBPUSDThe GBP/USD exchange rate experienced a decline following a series of tariff threats issued by US President Donald Trump. However, subsequent to the imposition of tariffs on Canada and Mexico being deferred by the Trump administration for a period of 30 days, global risk markets demonstrated a recovery. The likelihood of US tariffs on the UK remains low, and the cable strengthened to 1.24500 by the close of Monday's trading session. The Bank of England (BoE) is scheduled to hold its next rate meeting later this week, and markets are largely anticipating the likelihood of another rate cut. The Bank of England's Monetary Policy Committee (MPC) is expected to vote eight to one in favour of cutting interest rates by another quarter point to 4.5%, with one abstention in favour of keeping rates unchanged for another meeting. On Friday, the release of the US Non-Farm Payrolls (NFP) is anticipated. The employment data is unlikely to have a significant impact this week. The US labour market is stable, with geopolitical headlines being the main focus this week. Trading recommendation: We follow the level of 1.24000, when fixing below we consider Sell positions, when rebounding we consider Buy positions.
by Fresh-Forexcast2004
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Short
by David_Perk
GBPUSD H4 | Bearish Drop From 127.2%?Based on the H4 chart, the price is rising toward our sell entry level at 1.26079, which aligns with an overlap resistance zone and the 127.2% Fibonacci extension level. This level is expected to act as a potential reversal point in the bearish setup. Our take profit is set at 1.23759, a pullback support level, where the price may find buying interest. The stop loss is placed at 1.27281, an overlap resistance and above the 161.8% Fiboancci extension, providing room for price fluctuations while ensuring the bearish setup remains valid. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (fxcm.com/uk): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (fxcm.com/eu): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (fxcm.com/au): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at fxcm.com/au Stratos Global LLC (fxcm.com/markets): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
GBP/USD - Trade SetupHi all, I predicted that last move literally to the PIP perfectly, you can check out that post on my page. Im now looking to make my next move. I will break this down in a fast and simple terms as I have already broken this paid down from Top Down Analysis. First 4H CHoCH has been showing taking out the previous swing high. Then then saw a slight pullback with some consolidation before pushing into our TP. Our next two entry setups are a 4HR Discount zone which is my preferred zone after taking that imbalance on both the 1H and the 4H. That mitigation zone looks very strong. We have Identified the new swing range from the 4H view. Id like to see this pullback have some slower price action especially around that 1H Mitigation Block before looking to Buy as we are currently respecting a strong Unmitigated Supply zone. I personally believe this Trend Line will break giving us a lot of institutional volume with buyers Demand. Good luck to the traders that decide to follow and remember to trade with strict risk management.
Long
by jamesibartram
2