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U.S. Dollar / Pound Sterling

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USDGBP trade ideas

GBP/USD Rises on Strong UK GDPGBP/USD climbed to 1.2595 in early Asian trading on Sunday, driven by strong UK GDP data and weaker US retail sales. January retail sales dropped 0.9%, the steepest decline in nearly two years, after a revised 0.7% rise in December, far below the expected 0.1% dip. However, year-over-year sales grew by 4.2%. Meanwhile, the UK economy expanded by 0.1% in Q4 2024, beating forecasts and strengthening the Pound. Key resistance is at 1.2600, with further levels at 1.2650 and 1.2700. Support stands at 1.2340, followed by 1.2265 and 1.2100.
by zForexcom
Fundamental Market Analysis for February 17, 2025 GBPUSDThe GBP/USD pair is trading slightly higher near 1.25850 in the early Asian session on Monday, rising on the back of a positive UK Gross Domestic Product (GDP) report and weak US retail sales data.The US market will be closed on Monday due to the Presidents' Day holiday.US retail sales posted their biggest drop in nearly two years, dragging down the dollar. The Commerce Department's Census Bureau reported on Friday that retail sales fell 0.9 per cent in January after an upwardly revised 0.7 per cent rise in December, which was weaker than the 0.1 per cent decline that had been forecast. On a year-over-year basis, retail sales rose 4.2 per cent during the same reporting period.Stronger than expected UK GDP figures provide some support for the Pound Sterling (GBP). According to the UK Office for National Statistics (ONS), the UK economy grew by 0.1% quarter-on-quarter in the fourth quarter of 2024, beating expectations. Traders will be monitoring the UK labour market and Consumer Price Index (CPI) inflation data, which will be released on Tuesday and Wednesday, respectively. These reports may provide some indication as to whether the Bank of England (BoE) will cut interest rates again at its March meeting. Trading recommendation: GBPUSD: SELL 1.25800, SL 1.26300, TP 1.25100
Short
by Fresh-Forexcast2004
GBPUSD Feb 10 to 14 Week in reviewGBPUSD Feb 10 to 14 Week in review Price is in a Premium on the weekly and daily. I suspect that we are in a bull market. NOTE-GU is showing more strength than EU due to breaking key highs, EU has not done that yet. Price has been threading on the 50 level since Jan 25. Finally this week Price left the 50 level the energetic force. On Tuesday Price bounced off the .618. Price ran a sell stop raid to then bull run for the rest of the week wicking through key buy stops. Not quite breaking institutional structure however showing signs we might. Week ahead idea If my bias is bull I want to focus on taking longs and reading if and where Price will short. If the short meets my criteria of my model I might consider it, however I want to be adaptable to what price is delivering and sticking to my rules. I suspect that we could see a raid on sell stops at the 50 level rebalancing Thursdays inefficient delivered Price. Setting up for a long. That said Price has another ket buy stop that it could run to first part of the week. Be nimble-no more pre market look as it is creating this stiffness in my analysis. Building out the day from the perspective of this happens I will do that and if that happens I will do that. Follow your rules as follows: -Liquidity is taken -Bias is bull-longs would be better sets ups -Macro entries only -Limit orders only-with placed price-stop loss-take profits with partials -Mark out measured moved ranges -MOG entries -first presented FVG entries -Trust your analysis -mark every trade win or fail Strength is built in discipline and paper trade only this week, until you can build your confidence again.
by LeanLena
GBPUSD Wave Analysis – 14 February 2025 - GBPUSD broke resistance zone - Likely to rise to resistance level 1.2720 GBPUSD currency pair recently broke the resistance zone between the key resistance level 1.2530 (which has been reversing the price from the start of January) and the 61.8% Fibonacci correction of the downward impulse from December. The breakout of this resistance zone accelerated the active medium-term impulse wave (C) from the end of January. Given the strongly bearish US dollar sentiment seen today, GBPUSD currency pair can be expected to rise to the next resistance level 1.2720.
Long
by FxProGlobal
Cable update - algo bulls detected. Time to update this chart with a new base channel here as it made a significantly technical pull back to the 618 and a move to the -236 indicating algo participation. If it breaks above this base channel then it's more likely that a larger impulse wave is in progress, with the breakout required for a wave 3 of an impulse. That's not to say it couldn't just meander up this channel till it gets its upper targets way up at the 1.43-44s. But certainly the breakout would make that much more likely. For now though the 1.34-35 area is in contention. Not sure it will come back to the 0 on the white fibonacci for any entries or addons but maybe the level at 1.257 will become support. With the interest rates now about equal, it's also not too pricey to hold this long either.
by JCore7