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British Pound / U.S. Dollar

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GBPUSD trade ideas

GBP/USD: Key Levels and Market UncertaintyThe analysis of the GBP/USD pair indicates a context of uncertainty, with the British pound (GBP) seeking support from relatively subdued demand for the US dollar (USD) but lacking clear bullish pressure. The GBP/USD pair is influenced by various macroeconomic factors, including expectations of further easing by the Bank of England (BoE) and key economic data from both the United States and the United Kingdom. Following the release of the minutes from the Federal Reserve’s (Fed) September meeting, the dollar gained strength. The minutes revealed that most FOMC members supported a 50 basis point (bps) rate cut, but with caution regarding the future pace of easing, sending a more "hawkish" signal than expected and dampening the prospects for immediate further easing. The pound remains under pressure, as the market expects the BoE to continue with a more accommodative policy, which limits the potential appreciation of the GBP. However, UK economic data could provide short-term support if it surprises to the upside. From a technical perspective, GBP/USD has some key static support levels: 1.3050, 1.3000 (a psychologically important round level), and 1.2940, which could act as deeper support. On the resistance side, 1.3100 corresponds to the 78.6% Fibonacci retracement of the latest uptrend and could be a barrier for bulls, with the next resistance at 1.3170, located at the 61.8% Fibonacci retracement, representing the next hurdle in the event of a trend reversal.
Long
by Forex48_TradingAcademy
1
GBPUSD: The sellers still have the upper hand.Currently, GBPUSD is moving around 1.305 at the beginning of the weekend trading session with the weakness continuing since the beginning of the week. Although there is a recovery, it is only short-term and is a trend correction. With a strong reversal from the EMA 34, 89, this currency pair is still heavily influenced by the technical selling sentiment. In the short term, we expect to continue to prioritize selling with the profit-taking target right at the limit of the downtrend line marked on the chart.
Short
by Bentradegold
Sell GBP/USD Bearish ChannelThe GBP/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.3060, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.2985 2nd Support – 1.2953 Stop-Loss: To manage risk, place a stop-loss order above 1.3100. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you.
Short
by KABHI_FOREX_TRADING
14
Impact On The ScreenWhat type of feel do you get from this, does it seem like this week had low impact moves and was typa slow. Imagen this was on a 1min Chart, what would be our next move, timing and positioning, we would think that because it tapped into the gap on the left and is now showing some potential bearish moves, the equal lows might serve as liquidity and have us ram through them as we sell. Furthermore realizing that ohh we tapped into a FVG and this is actually still on a buy mood, would mess up everything, we still have some learning to do.
by TheDemoTrader_SA
GBPUSD InsightHello, subscribers! Great to see you all. Please feel free to share your personal opinions in the comments. Don’t forget to like and subscribe! Yesterday, the U.S. released the September Consumer Price Index (CPI) and initial jobless claims. The September CPI showed a slowdown to 2.4%, compared to 2.5% in the previous month, but it exceeded the market’s expectation of 2.3%. Core CPI came in at 3.3%, also above the expected 3.2%. Initial jobless claims were 258,000, significantly higher than the market's forecast of 231,000. The market interprets this as inflation being more persistent than expected, while the job market remains uncertain. Within the Federal Reserve, Raphael Bostic, President of the Atlanta Fed, left the possibility of a rate pause open. However, John Williams, President of the New York Fed, and Austan Goolsbee, President of the Chicago Fed, emphasized a dovish tone, showing a division in opinion within the Fed. Meanwhile, in the UK, Bank of England Governor Andrew Bailey stated that if positive inflation data emerges, they may take more aggressive and activist steps toward cutting rates. Upcoming key economic data releases: - October 11: UK August GDP, Germany September CPI, US September PPI. - October 16: UK September CPI. - October 17: Eurozone September CPI, ECB rate decision, US September retail sales. The GBP/USD is facing resistance at the 1.34000 level, experiencing a pullback. The price has extended its decline to the 1.30000 level and appears to be preparing for a rebound from this area. If a rebound occurs, it could push the price back up to the resistance level at 1.38000. However, if the rebound fails, it is expected to fall further to the 1.27000 level. If the market moves differently than expected, I will quickly adjust the strategy.
by shawntime_academy
#GBPUSD 4HOn the GBP/USD 1-hour chart, the price has bounced off a key support level, indicating a potential bullish reversal. The support bounce suggests that buyers are stepping in at this level, preventing further decline and possibly initiating an upward move. Forecast: Buy A buy opportunity is expected as the price rebounds from support. Traders may consider entering a long position with the anticipation that the price will move higher, targeting nearby resistance levels. It’s important to monitor price action for confirmation that the support is holding, as a breakdown below the level could invalidate the buy setup.
Long
by PIPSFIGHTER