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GBPUSD Shows Bullish Momentum Above Daily Pivot PointGBPUSD Daily Pivot Points Analysis 05-Nov-2024 GBPUSD Shows Bullish Momentum Above Daily Pivot Point GBPUSD is developing above the Daily Pivot Point at 1.2957, indicating bullish momentum. It may continue to rise with targets at Daily R1, Daily R2, and Daily R3. However, GBPUSD may face strong resistance at each of these levels, which could halt its ascent and push the price back down to the nearest broken resistance, or in the best scenario, near the Daily Pivot Point at 1.2957. A move below the Daily Pivot Point at 1.2957 would signal an increase in bearish momentum, allowing GBPUSD to develop a bearish scenario with the other Daily Support zones. So far, the trend remains bullish, albeit with low trading volume. Daily R3 - 1.3073 Daily R2 - 1.3036 Daily R1 - 1.2997 Daily Pivot Point - 1.2957 Daily S1 - 1.2916 Daily S2 - 1.2878 Daily S3 - 1.2837 You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
by KlejdiCuni
1
GBP/USD climbs after Bank of England cut ratesThe British pound has rebounded on Thursday. In the North American session, GBP/USD is trading at 1.2983, up 0.81% on the day. A day earlier, the pound took a drubbing, sliding 1.2%. There was no surprise as the Bank of England lowered the key interest rate by 0.25% to 4.75%. The markets had priced in the move at close to 100% and the Monetary Policy Committee voted 8-1 in favor of the cut, with one member voting to hold rates at 5%. The BoE has now lowered rates twice since its easing cycle in August. BoE policymakers had signaled that a rate cut was coming, as September inflation dropped sharply to 1.7%, the first time in over three years that inflation dropped below the BoE’s target of 2%. The central bank is expected to lower rates gradually in modest increments of 25 basis points in the coming months, but last week’s UK budget could complicate things. The budget included tax hikes and increased spending, which is expected to boost inflation. That could mean a pause at the next BoE meeting in December and a slower pace of rate cuts next year. The Federal Reserve meets later today, in the shadow of the dramatic US election, in which Republican Donald Trump cruised to a surprisingly easy victory over Democrat Kamala Harris. The Fed is virtually certain to trim rates by 0.25% to 4.5%-4.75%. With inflation easing, the Fed is expected to continue its rate-cutting cycle into 2025. GBP/USD pushed above resistance at 1.2920 earlier and then tested resistance at 1.3007 There is support at 1.2793 and 1.2706
by OANDA
GBPUSD_102 2024.11.05 14:34:05 Trading Signal SELLFrankPro Signal for GBPUSD_102 Type: Screen Signal: SELL TP: 1.2937 SL: 1.30274 Entry Price: 1.30161 Analysis for GBPUSD Forecast Overall(Short-Term, Long-Term): ST= Strong Up LT= Strong Down Forecast Methods(Short-Term, Long-Term): ST=Up LT=Down ST=Up LT=Down ST=Up LT=Down Analysis Method(0) Based on the provided analysis, I will provide separate short-term and long-term forecasts for the GBP/USD currency pair. **Short-term forecast (next 24-48 hours)** Given the upcoming US presidential election results and monetary policy decisions from the Bank of England (BoE) and the Federal Reserve (Fed) on November 7, market volatility is expected to increase. The current trading range between 1.2900 and 1.3050 may break out in either direction. * If the US presidential election results favor Democratic candidate Kamala Harris, the US Dollar may weaken, and the GBP/USD pair may break above 1.3050, targeting 1.3100 and 1.3175. * If the election results are unfavorable for Harris, the US Dollar may strengthen, and the GBP/USD pair may break below 1.2850, targeting 1.2700. **Probability of short-term price movement:** * Up: 40% * Down: 30% * Sideways: 30% **Long-term forecast (next week and beyond)** The general trend of the GBP/USD currency pair is still bearish, according to daily chart performance. The expectations of a rate cut by the Bank of England and the Federal Reserve may influence market sentiment and lead to a downward movement in the pair. * If the BoE cuts interest rates by 0.25% or more, the pound's value may decline, and the GBP/USD pair may continue its bearish trend, targeting 1.2600 and 1.2400. * If the Fed cuts rates by a standard 25 basis points, the US Dollar may weaken, and the GBP/USD pair may experience a temporary upward movement, but the overall bearish trend may still prevail. **Probability of long-term price movement:** * Down: 55% * Up: 25% * Sideways: 20% Please note that these forecasts are based on the provided analysis and are subject to change as new information becomes available. Result: ST=Up LT=Down Analysis Method(1) Based on the provided analysis, here are my expectations for the GBP/USD pair's price movement in both the short-term and long-term: **Short-term (next few days/week):** * The pair is expected to continue its upward momentum, with a potential correction towards 1.3060 and a possible reach of 1.3128. * The ascending channel and sustained uptrend suggest a bullish bias in the short term. * However, the overbought condition indicated by the RSI (70) suggests a potential price consolidation or correction. **Expected price movement:** Up (but with potential consolidation or correction) **Long-term (end of 2024 and beyond):** * Forecasts are mixed, with LongForecast suggesting a potential strengthening of the pound sterling by the end of the year, while WalletInvestor projects a bearish trend. * The expected interest rate cut by the Bank of England (BoE) may put downward pressure on the pound sterling, potentially leading to a decline in the GBP/USD pair. * However, the uncertainty surrounding the US presidential election outcome and its impact on the US Dollar may continue to support the GBP/USD pair. **Expected price movement:** Uncertain (both up and down scenarios possible) In summary, while the short-term outlook appears bullish, the long-term forecast is uncertain due to mixed analyst predictions and the impact of upcoming economic events. Result: ST=Up LT=Down Analysis Method(2) Based on the provided data, I will analyze the GBPUSD pair's expected price movement in both the short-term and long-term. **Short-term Analysis (Next few days to end of 2024)** * The pair is currently struggling to break above the 1.3000 level, which is capped by the 100-day SMA. * Technical indicators suggest support at around 1.2914 and a potential corrective wave towards 1.3060. * The upcoming US presidential election and the Bank of England's monetary policy decision on Thursday are key factors that could influence the pair's movement. * Given the uncertainty surrounding these events, the pair is expected to trade within a range. However, the bullish gap at the start of the week and the potential for further growth aiming for 1.3128 suggest a slightly bullish bias. * Therefore, in the short-term, the price is expected to **go up** slightly, potentially reaching the 1.3060-1.3128 range. **Long-term Analysis (End of 2024 and beyond)** * Forecasts suggest the GBPUSD rate could range between 1.288 and 1.321 for November 2024, with an average for the month at around 1.273. * The pair is expected to end the month at 1.269, representing a -1.1% change. * The Bank of England's planned interest rate cuts by nearly 100 basis points by the end of 2025 are being factored into market prices, which could put downward pressure on the GBP. * Considering the forecasted range and the expected interest rate cuts, the long-term outlook for the GBPUSD pair appears **bearish**, with a potential decline towards the 1.269-1.273 range. In summary, the GBPUSD pair is expected to **go up** slightly in the short-term, potentially reaching the 1.3060-1.3128 range, but **go down** in the long-term, potentially declining towards the 1.269-1.273 range. Result: ST=Up LT=Down
Short
by frankiepro
GBPUSD SELL | Idea Trading AnalysisGBPJPY s moving to the upper boundary of the descending channel. The volatility of the movement has decreased. The price has reached the resistance level. Hello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity GBPUSD I still did my best and this is the most likely count for me at the moment. ------------------- Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝
Short
by TheGrove
1
Bearish drop?The Cable (GBP/USD) is rising towards the pivot which acts as a pullback resistance and could drop to the 1st support which has been identified as a pullback support. Pivot: 1.2940 1st Support: 1.2842 1st Resistance: 1.3000 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
Gbpusd signal GBP/USD offers its recent gains registered in the previous session, trading around 1.2940 during the Asian hours on Wednesday. The pair depreciates as the US Dollar gains momentum on strengthening Trump trades as the voting favored Republican candidate Donald Trump in the US presidential election The Relative Strength Index (RSI) indicator on the 4-hour chart holds above 50 but GBP/USD is yet to flip the 100-day Simple Moving Average (SMA), currently located at 1.2980, into support, suggesting that buyers remain hesitant.
Short
by JohnHarry_7
Bullish bounce?GBP/USD is falling towards the support level which is an overlap support and could bounce from this level to our take profit. Entry: 1.2865 Why we like it: There is an overlap support level. Stop loss: 1.2803 Why we like it: There is an overlap support level that is slightly above the 127.2% Fibonacci extension. Take profit: 1.2936 Why we like it: There is a pullback resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
Long
by VantageMarkets
GPBUSD Bearish Megaphone starting new wave.GBPUSD is trading inside a Bearish Megaphone for the past 30 trading days. The price may now be supported by the 1hour MA50 but has formed the bearish formation it had on all prior tops under the Falling Resistance. The 1hour RSI has formed a similar topping pattern. As a result, this is a standard sell signal for the Bearish Megaphone. All declines reached the 1.5 Fibonacci extension, so we can target at least the previous Low at 1.2850. Follow us, like the idea and leave a comment below!!
Short
by TheCryptagon
RBA Holds, BoE Expected to Cut in Volatile Week Two major central bank decisions this week join the U.S. election as key events for markets, with interest rate reductions from the Reserve Bank of Australia and the Bank of England being considered. The RBA will announce its decision Tuesday (local time), with economists polled by Reuters forecasting no change to the current 4.35% cash rate. Persistently robust economic activity and sticky core inflation are thought to be keeping the central bank cautious. All major Australian banks—ANZ, CBA, NAB, and Westpac—expect the RBA to hold steady through year-end, projecting the first rate cut to come in February 2025. Meanwhile, the BoE is anticipated to lower its Bank Rate by 25-basis points on Thursday (local time), bringing it to 4.75%, according to a Reuters poll. Last week Britain's finance minister Rachel Reeves unveiled an unexpectedly large increase in borrowing and public spending, which prompted the Office for Budget Responsibility to raise inflation forecasts. However, analysts suggest that these fiscal moves won’t likely disrupt the BoE’s path toward a rate cut this week.
by BlackBull_Markets