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U.S. Dollar / Pound Sterling

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USDGBP trade ideas

GBP/USD analysis - 24 Oct 20241.2955 acts as an important level today & if price stays below this level then we expect it to hit our target profit at 1.29013. If price breaks above 1.2955 then it should hit 1.2980. Below is our recommendation; Trade 1 (Risk 0.5% of your account size); Sell GBP/USD @ 1.2935 Stop Loss @ 1.2955 Take Profit @ 1.29013 Trade 2 (Risk 1% of your account size); Buy Stop GBP/USD @ 1.2955 Stop Loss @ 1.2935 Take Profit @ 1.2980 *Total risk is 1.5%, In case Trade 1 hits target profit then Trade 2 order must be deleted.
Short
by PalmTreeTradingUK
GBP/USD Bounce?continuing on from my last post, it seems we are taking a rebound on the current trend at the moment. Indicators (on LTF (4H/D)) suggest we could take an swing up here, however the HTF (W/M) are suggesting there is still bearish pressure on the pair. In the current news - GBP/USD trades in the upper half of the descending regression channel and the Relative Strength Index (RSI) indicator on the 4-hour chart rises toward 50, reflecting a loss of bearish momentum in the near term. The 100-day Simple Moving Average (SMA) aligns as immediate resistance at 1.2970. If GBP/USD flips that level into support, 1.3000 (round level, static level) and 1.3020 (upper limit of the channel) could be seen as next resistance levels. On the downside, first support is located at 1.2900 (mid-point of the descending channel) before 1.2800 (lower limit of the descending channel). Let's see where this goes for now> I am short term bullish biased
Long
by Underdog-Trading
BUY OpportunityThe GBPUSD pair presents an enticing BUY opportunity at the current price of 1.29700, with favorable potential for profit. Targets: Primary Target: 1.30990 Secondary Target: 1.34350 Breakout Scenario: 1.28800 In the event of a breach above the resistance level of 1.28800, indicative of a bearish breakout, the target price is anticipated to ascend towards 1.28000. 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
Trading GBPUSD | Judas Swing Strategy 22/10/2024Last week was active for the Judas Swing strategy, with two positions on FX:GBPUSD resulting in wins (+4%), three positions on FX:EURUSD yielding one win and two losses (breaking even), three positions on FX:AUDUSD with one win and two losses (breaking even), and one position on OANDA:NZDUSD securing a win (+2%). Overall, this led to a 6% increase by the week's end. Encouraged by these results, we began the week with enthusiasm to discover what lay ahead. In keeping with our routine, we reached our trading desks at 08:25 EST and set up our trading zones. Once we have demarcated our zones, we should wait for the high or low of this zone to be swept, as this will assist us in determining our bias for the trading session. Twenty minutes later, the trading zone's low was swept, indicating that we should concentrate on looking for buying opportunities during this trading session. Although we may have a bias for the trading session, we do not enter buy trades indiscriminately. Instead, we wait for a break of structure towards the buy side. During this break of structure, the price movement should leave behind a Fair Value Gap (FVG), which will assist us in getting an entry point for the trade. Shortly after, we observed a Break of Structure (BOS) on the buy side, which resulted in a Fair Value Gap (FVG) being left behind. To fulfill all the entry criteria on our checklist, we must wait for price to retrace into the Fair Value Gap (FVG) that has formed, and we can only execute the trade once the candlestick has closed. The next five-minute candle has entered the Fair Value Gap (FVG), indicating that upon its closure, we may proceed with executing the trade. It's crucial to understand that by risking only 1% of our trading account for a potential 2% return, we minimize emotional attachment to the trades since we're only risking what we can afford to lose, and we stand to gain more than we risk. After executing the trade, our position immediately showed a profit. However, it's crucial to stay composed and manage our expectations, as we do not control the markets and the situation could swiftly change. After a few hours, we revisited the position and noticed it was still fluctuating around the same price point where we had previously left it. According to our data, we can anticipate being in a position for an average of 11 hours, so the duration of this trade meeting our objective is not a concern; we simply need to remain patient for it to occur. Upon reviewing the position once more, we noticed it continued to consolidate in the same area. However, according to our rules, we must wait for the position to either reach the Take Profit (TP) or Stop Loss (SL) point. Unfortunately, our patience did not yield the desired results this time, as the stop loss was triggered and we incurred a 1% loss of our trading account on this trade. However, this loss did not impact us significantly since we had already accepted the amount we were risking on the trade.
by CleoFinance
#GBPUSDRising Wedge Breakdown: The price is breaking down from a rising wedge pattern. Rising wedges are generally seen as bearish reversal patterns, especially when the breakdown occurs after a significant rally, which suggests a potential reversal of the uptrend. Fair Value Gap (FVG): The chart highlights an FVG (Fair Value Gap), which could indicate that price might have filled this inefficiency, signaling the potential start of a bearish move. After the FVG is filled, price often resumes its primary direction, in this case, downwards. Bearish Trendline Break: The price has either tested or broken below a key trendline that has supported price action for a significant period. A clear break below this trendline often leads to further downside as the market turns more bearish. Projection of Bearish Momentum: The red arrow drawn on the chart suggests a projected significant downward move, with a potential target far below the current price level, reinforcing the bearish outlook. Given these technical factors, the chart suggests that the pair might be due for a correction or a more extended downtrend. A short position could be considered if price continues to break down below support levels and confirms the wedge breakdown. Proper risk management is essential in case of a reversal.
Short
by TheRealHawk
Bearish drop?GBP/USD is rising towards the resistance level which is a pullback resistance that lines up with the 23.6% Fibonacci retracement and could drop from this level to our take profit. Entry: 1.2943 Why we like it: There is a pullback resistance level that lines up with the 23.6% Fibonacci retracement. Stop loss: 1.2999 Why we like it: There is a pullback resistance level that lines up with the 50% Fibonacci retracement. Take profit: 1.2885 Why we like it: There is a pullback support 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.
Short
by VantageMarkets