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British Pound / U.S. Dollar

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GBPUSD trade ideas

GBPUSD Wave Analysis 20 January 2025 - GBPUSD reversed from support area - Likely to rise to resistance level 1.2365 GBPUSD currency pair recently reversed up with the daily Hammer from the support area located between the long-term support level 1.2095 (former Double Bottom from October), lower daily Bollinger Band and the support trendline of the daily down channel from September. The upward reversal from this support area started the active medium-term upward correction (4). Given the strength of the nearby support level 1.2095 and the significant US bearish sentiment, GBPUSD currency pair can be expected to rise to the next resistance level 1.2365.
Long
by FxProGlobal
GBP/USD Trade in Play – Why This Setup Could Be HUGEWhat’s great everyone? Mr. Blue Ocean FX here with an in-depth breakdown of GBP/USD. We’re currently in a trade, having entered at 1.2297, with stops set at 1.2550. Let’s dive into the key levels and what we’re looking for moving forward. On Friday, we identified a significant lower high around the 1.2297 level, which led to a strong impulse move down to 1.2104. After a pullback and rejection, price failed to make a new lower low, closing around 1.2151, and eventually breaking above resistance at 1.2210, creating a new higher high at 1.2297. We waited for a pullback and a push above 1.2297, which we got, confirming our entry with volume supporting the move. Currently, I’m monitoring the H4 candle; if we see a break and close below 1.2272, we could expect a deeper pullback into the 1.2236 zone, which would present an opportunity for a second entry. However, I believe the fair value gap (FVG) around this level will hold, leading to consolidation before another push higher. Looking at the DXY (Dollar Index) on the weekly timeframe, we had a strong push up from December 2nd to January 6th before topping out. It now appears to be rolling over, potentially forming a higher low before continuing higher. Today’s daily candle has broken structure, with a lower high forming around 109.33, suggesting short-term weakness in the dollar and potential upside for GBP/USD. As we monitor price action, the next H4 candle close will be crucial. If price holds above support and volume supports the move, we anticipate further upside. As always, keeping this breakdown short and to the point. If you found this helpful, boost it, like it, and share it with a fellow trader. Stay tuned for the next update.
Long
by BlueOceanFxAcademy
GBPUSD WAITING FOR BREAKOUT OFRECESTENSE AND TREND LINE📈 GBP/USD Trading Strategy 📉 Bearish Scenario: 🔻 Entry Point: If GBP/USD breaks below the support level at 1.2200, consider entering a short position. 🎯 Target Level: Aim for 1.2050 as the initial target. Bullish Scenario: 🔺 Entry Point: If GBP/USD breaks above the resistance level at 1.2300, consider entering a long position. 🎯 Target Levels: First Target: 1.2330 Second Target: 1.2440 Third Target: 1.2570 Recommendation: ⏳ Wait for a confirmed breakout above resistance or below support before opening your position to mitigate false signals...
by ExpertTrader041
1
GBPUSD ANALYSIS IS READY (READ THE CAPTION)This chart represents a technical analysis of the GBP/USD currency pair on a 1-hour timeframe. Here’s a detailed breakdown of the analysis: 1. Current Price Level: The price is trading around 1.24152, as shown by the highlighted blue "BUY" box. 2. Resistance Zone: A horizontal yellow line marks the key resistance zone around 1.2460–1.2547. This is where the price might struggle to move higher. A stop-loss level is clearly indicated at 1.25474, suggesting this is the invalidation point for short positions. 3. Support Zone: There is a clearly marked Target Zone at 1.22016, which serves as the price's potential downward target if the bearish scenario unfolds. The yellow horizontal lines below the current price represent support areas where buyers might re-enter the market. 4. Bearish Scenario: The blue arrows show a projected downward movement, indicating a possible price rejection from the resistance zone and a decline toward the 1.22016 target zone. The analysis suggests a head-and-shoulders pattern, with the red curve marking the "head" and signaling a bearish reversal. 5. Volume Profile: The bars on the right indicate trading activity at various price levels, showing a concentration of volume near current levels, which may act as resistance. This analysis seems to favor a bearish outlook, expecting a price drop after rejection at resistance. However, it is also safeguarded by a stop-loss to manage risk if the price breaks above the resistance.
Short
by Mr_Ethan1
GBPUSDThe GBP/USD currency pair represents the exchange rate between the British pound and the U.S. dollar. It fluctuates based on economic conditions, interest rate decisions, and geopolitical factors. Recently, the pound has weakened due to concerns over the UK economy and expectations of U.S. Federal Reserve policy. However, the pound remains strong due to London’s role as a global financial center. Market sentiment, inflation data, and central bank policies influence GBP/USD movements. Traders watch economic reports and political developments in both the UK and the U.S. to anticipate future trends.
Long
by HavalMamar
FINAL UPDATE ON GBP/USD TRADESGBP/USD 30M - How we getting on guys, back with a final update on this pair and the trading opportunity provided to you all. As you can see price has played out perfectly and we are now starting to see price breakdown. I will be waiting patiently now for price to give us confirmation of a move to the downside, this will come via a break in structure to the downside on the smaller timeframes, confirming the end of the bull run and the start of a new bearish one. This trade took profit for + 105 pips. (+ 4.7%) 4.7RR A big well done to anyone who jumped in on this trade, price played perfectly into our pending order and has generated us with some amazing profits. Any questions drop me a message or comment below and I will get back to you as soon as possible, ensure you are taking closes as we are expecting a move to the downside now.
Long
by Lukegforex
UPDATE ON GBP/USD TRADEGBP/USD 30M - We have hit the jackpot yet again with this trade people, fundamentals have gone and backed our position and we are seeing a nice push to the upside. I want to see this bullishness continue now right the way up and into our TP target, its important we manage our trades accordingly and take partials throughout to maximise profits and minimise losses. This trade is running + 35 pips. (+ 1.5%) 1.5RR A big well done to those who got involved originally and those who got involved recently when I told you all I was re-entering, any questions as always drop them below or message me. Remember to apply those safety measures now like SL moves and take those partials to bank profits, its important to follow through with good risk management after placing a successful trade.
Long
by Lukegforex