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British Pound / U.S. Dollar

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GBPUSD trade ideas

GBPUSD Price ActionHey Traders! Long time no see, hope you're all doing great! I wanted to share a super simple setup I’m using. It’s based on the Previous Day's High/Low and the Session Opening High/Low. I saw price rejecting the Previous Day’s Low and marked the Session Opening High/Low as an Order Block, so I took an entry targeting the Previous Day’s High. There’s also some imbalance, so price could move up there. As always, risk management is everything! I’m using a 1:8 risk-reward ratio, which looks solid. Just manage your risk, stay calm, and avoid any stress. Wishing you all the best and happy trading! Thank you!
Long
by SuvashishFx
GU bearish1. Potential scalping setups towards daily grey box (bearish fvg). This quite risky as you are trading against higher TF orderflow. 2. After price sting into daily grey box, scout sell setup on h1 or m15 for day trade or shortterm trade. Target 1:2rr or Monday low (1st target). 2nd target is daily swing low, if you target 2nd target don't forget to Breakeven. This is just a mapping of price action courses. It might not even happen according to the map. This is not financial advice. I'm not a license financial advisor. Trade at your own risk. #FVG
Short
by hariz505
1
GBPUSD - Look for Reversal Long (INTRADAY) 1:4!A similar setup could be forming in GBPUSD, where we might catch a few pips on a buy once the price reaches the Demand Zone. Let's monitor how the market responds to this setup. Disclaimer: This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
Long
by S-Fx_
GBPUSD Will Go Up! Buy! Take a look at our analysis for GBPUSD. Time Frame: 8h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 1.308. The above observations make me that the market will inevitably achieve 1.318 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
GBPUSD Technical Analysis and Trade Idea👀 👉 The GBPUSD has been experiencing downward pressure lately, which may offer a potential short-term day trading opportunity. In this video, we'll take a detailed look at the price action, review the current trend and market structure, and explore a possible trade setup. Disclaimer: Forex trading involves substantial risk, and market conditions can shift quickly. The content provided is for educational purposes only and should not be considered financial advice. 📉✅
Short
by tradingwithanthony
Cross Roads for the CableOn the Weekly, we see that the market is in a Bullish swing. After prices rallied to form the high, it has begun the bearish retracement, dipping towards the reversal zones which are refined from the existing PB of the Weekly. This narrative above is also the same for the Daily chart. On the Daily, not only dow e see a chart that is bullish and now retracing bearish into the refined zone, but we can notice that at this time, price is well inside the zone, and even threatening to break bearish and breach the zone. Now my analysis: I expect the Daily reversal zone to hold. Where that happens, we expect to see prices go all the way up to hit Daily liquidity target and at the same time give us an extension of the current bullish swing on both the Daily and Weekly charts. If it does go this way, we will pull our our panzy pips trading system and begin to catch trades on the extension rally. On the other hand, in the unlikely event that our daily zone fails, we will expect to see prices retrace deeper and dip lower towards the weekly reversal zone, from where we will watch out for reversals inside that zone. The rally will be expected to begin from there, and from there drive prices all the way up towards the Weekly liquidy target. This is gonna be one hell of a rally, so y'all better be ready to cath some great deal of profit off of that rally. As usual, we will look to trade that rally applying our same trad entry systems unique to panzy pips traders. See you at the top of that cliff guys ...
Long
by PanzyPips
2
Anticipating a Slightly Bullish Bias on GBPUSD today 07/10/2024.GBPUSD Analysis for 07/10/2024: Anticipating a Slightly Bullish Bias The GBPUSD pair is showing signs of a potential slightly bullish bias today, driven by a mix of key fundamental factors and current market conditions. Here's a closer look at the reasons behind this potential upward movement. 1. UK Economic Data Support Recent economic reports from the UK, including a stronger-than-expected PMI for September, suggest that the UK economy is holding up better than anticipated. The services sector has shown resilience, which has positively impacted the British Pound. Market participants are now reassessing the outlook for the Bank of England's next moves. The possibility of further rate hikes remains on the table, supporting GBP strength. 2. Dollar Weakness The US Dollar, while still strong in broader terms, has shown some weakness recently as traders reassess the Federal Reserve's path forward on interest rates. A key driver of GBPUSD's slightly bullish bias today is the easing of expectations for additional aggressive rate hikes from the Federal Reserve. This shift is making the British Pound more attractive relative to the US Dollar, providing upward momentum. 3. Global Risk Sentiment Improved global risk sentiment is also contributing to the GBPUSD’s upward trajectory. Markets are reacting positively to the potential resolution of geopolitical tensions, as well as stabilizing commodity prices. As a risk-sensitive currency pair, GBPUSD tends to rise when global sentiment improves, making today’s risk-on environment a supportive factor. 4. Technical Indicators From a technical perspective, GBPUSD is trading near key support levels around 1.2100, with potential upside resistance at 1.2200. The 50-day moving average has flattened, signaling a potential reversal from the previous bearish trend. A break above 1.2150 could confirm the bullish bias for today. 5. US Nonfarm Payrolls Aftermath The US Nonfarm Payrolls data released last Friday was strong, but the market reaction has been more muted. The expectation was that this data could solidify another rate hike from the Fed, but it has instead led to a more measured response, likely due to wage growth figures not being as inflationary as anticipated. This is giving GBPUSD some room to appreciate today as traders anticipate less aggressive Fed policy tightening. Conclusion Given the combination of stronger UK economic data, slight USD weakness, improving global risk sentiment, and key technical levels, GBPUSD is expected to show a slightly bullish bias on 07/10/2024. Traders should watch for breaks above key resistance levels to confirm this move, but overall sentiment today favors a positive outlook for the pair. Keywords for SEO: - GBPUSD analysis 07/10/2024 - GBPUSD bullish bias October 2024 - British Pound vs US Dollar today - UK economic data impact on GBPUSD - GBPUSD technical analysis - Bank of England rate hikes effect on GBPUSD - US Dollar weakness and GBP strength - GBPUSD forecast for October 7, 2024 - Forex trading GBPUSD October 2024 - GBPUSD support and resistance
Long
by PERFECT_MFG
Will GBP Drop Further? Bearish Pressure Mounts Near Key LevelThe British Pound (GBP) continues to face downside pressure near the key level of 1.3100 against the US Dollar (USD) during Monday’s London session. The GBP/USD pair remains under strain as the US Dollar holds firm, near a seven-week high, bolstered by strong Nonfarm Payrolls (NFP) data for September, released last Friday. This robust US labor market performance has further supported the dollar's strength. In our previous analysis, we closed our positions on this pair (view chart below): GBP/USD Previous Forecast. Bearish Sentiment: Continuation or Reversal? Looking ahead, the Commitment of Traders (COT) report indicates that retail traders remain heavily on the bearish side, which adds weight to the possibility of further downside pressure. While there is no immediate position to open, we will be closely monitoring market developments. Given the fundamental outlook, our attention will turn to a potential long position if the price retraces to our identified Demand area. Until then, we remain cautious, awaiting clearer signals for a possible entry point as the market evolves. Conclusion With the US Dollar's recent strength driven by solid economic data, the GBP/USD pair continues to hover near critical levels. While the current sentiment leans bearish, we will keep a close watch on fundamental shifts and technical signals to reassess future trade opportunities. ✅ Please share your thoughts about GBPUSD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
by FOREXN1
1
BUY opportunityThe GBPUSD pair presents an enticing BUY opportunity at the current price of 1.31102, with favorable potential for profit. Targets: Primary Target: 1.32530 Secondary Target: 1.34350 Breakout Scenario: 1.30500 In the event of a breach above the resistance level of 1.30500, indicative of a bearish breakout, the target price is anticipated to ascend towards 1.29000. Technical analysis indicates a notable buying sentiment prevailing in the market at the present price level. Fundamental factors align with the proposed buy strategy, suggesting downward pressure on the GBPUSD pair. Prudent risk management measures should be employed to mitigate exposure to potential adverse market movements. Disclaimer: This analysis is provided based on current market conditions and historical price data. Traders are advised to conduct independent research and exercise caution, employing appropriate risk management techniques, before executing any trading decisions.
Long
by GODOCM