USDGBP trade ideas
GBPUSD - Buy StopBreak of a trendline supported by the bullish
divergence shows that the momentum of the
the bearish trend is declining.
If the previous lower high is broken, there are
high chances that price will continue to move up.
1.2800 Calling? GBP/USD Breaks Key SupportYesterday's UK inflation report revealed a cooler-than-expected CPI print of 1.7%, the lowest since April 2021. This dip was largely fueled by falling transport costs, echoing the recent decline in oil prices (With Brent crude slipping below $70 a barrel from September's highs of $77).
The GBP/USD pair has broken below the key 1.30 support level. This opens the door for a potential slide to 1.2800 in the medium term.
Adding to the bearish pressure, upcoming retail sales data could further weigh on the pair. Expectations are for a 0.3% rise in US retail sales, contrasting with a -0.3% dip in the UK. Such a divergence would likely intensify selling pressure on GBP/USD.
Technical analysis reinforces this bearish outlook. Fibonacci retracement levels from the mid-April to end-of-September rally (38%, 50%, and 61%) highlight key support and resistance zones. The 50% and 61% levels converge near 1.2800, making this a critical area to watch.
Based on this confluence of factors, the initial downside target for GBP/USD is set at 1.2860 (50% Fib). Traders holding short positions should keep a close eye on upcoming retail sales data for further confirmation.
Support: 1.2860, 1.2800
Resistance: 1.3000 - 1.3100
While maintaining a bearish bias, I'll be actively seeking short entries on lower timeframes (4h or 1h) using price action triggers. These opportunities will likely align with positive US or negative UK economic data. However, a potential retracement towards 1.30-1.31 could offer additional shorting opportunities before the anticipated further decline.
Next Levels to watchWatching the last 24 hours closely, we could see a retest of the trend here, this would be the point i would be inclined to see a swing up, but of course it all depends on what's happening in the real world.
The RSI on the 4-hour chart it still below 40 which suggests that the bearish move is holding. On the downside, 1.2950-1.2940 forms a strong support area ahead of 1.2900
If it manages to rise above 1.3000 and stabilizes there, sellers could be discouraged. In this scenario, 1.3050 (static level) could be seen as next resistance before 1.3100.
BUY OpportunityThe GBPUSD pair presents an enticing BUY opportunity at the current price of 1.29755, with favorable potential for profit.
Targets:
Primary Target: 1.30990
Secondary Target: 1.34350
Breakout Scenario: 1.29506
In the event of a breach above the resistance level of 1.29506, 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.
Analysis of GBP/USDOn the daily chart, we have a Break of Structure (BOS), and on the lower time frame, we currently see consolidation. What I expect now is a pullback to the Institutional Candle (IC), the creation of a Lower High, and then the continuation of the bearish momentum. But for now, it's important to be patient and wait for the other two points.
GBPUSD 4.85:1 ShortGBPUSD is in a down trend on 1h.
Price has just created a new LL.
Price made an impulsive move leaving inefficiency starting with our entry candle at 7:40 (10m timeframe entry).
TP is targeting demand zone on the 30m chart. You could target a new BOS for a smaller TP but higher probability trade.
GBPUSD Potential moveQuarter Cycle : AMDX
Asia (Akumulation)
London (Manipulation)
London session activitie : Sweep Daily Low
Confirmed Buy Structure In M5
Deviation (Price Move Forecast):
FVG H4 / SBR H4
GBPUSD LONG TERM ANALYSISThe price has broken a previous SUPPORT on the D1 and has turned into a RESISTANCE after a retest on the lower timeframe(H1, H4). With the fundamental analysis saying dollar is stronger and a lower than expected CPI on GBP on Oct 16 further solidifying the move down
GU with the Pressure!! Price moved EXTRA bearish last night. So its likely it will continue. Just about finding where to get in at. looking for a retrace during London which should lead to a sell entry for NY session.
GBPUSD: Back to Bearish Trend?!The GBPUSD price has started to decrease after a long period of bullish movement.
A significant daily support level has been broken by bearish momentum, indicating the dominance of sellers.
I anticipate that the market will continue to fall and potentially reach the 1.2933 level soon.
GBPUSD → Support breakdown. CPI in the UK is declining... FX:GBPUSD confirms the bearish market structure. The price is breaking the support. Fundamental data is favorable for further continuation of the fall.
UK Inflation:
m/m = 0% (expectation +0.1% / previously +0.3%)
YoY = +1.7% (expected +1.9% / previously +2.2%)
Core CPI = +3.2% y/y (expected +3.4% / previously +3.6%)
The USD index are rising on strong US economic data (last week's potential). All these data together have a corresponding impact on the currency pair, which breaks the support of the uptrend. A price consolidation below 1.3000 (strong psychological level) will open the way to 1.28-1.26.
Support levels: 1.3000, 1.2938
Resistance levels: 1.309
Selling on the currency pair is intensifying, the price is entering the risk zone and the buyers are getting even more nervous... In the short term, a retest of the previously broken trend support is possible, followed by a fall towards 1.28-1.26
Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;)
Regards R. Linda!
GBPUSD On Support Zone Aiming Higher.Hi
GBPUSD is potentially bullish on the H1 chart, with a target bias up to 1.32499. A bullish alert is indicated for RSI levels of 62.53 and 67.54.
This is a high-risk setup; monitoring will be required due to strong supply pressure at 1.34045.
Happy Trading and have a great week,
K.
GBP/USD – Watching for Support Break and Long Entry OpportunityI'm watching GBP/USD closely. If we break below the current support, my idea is to target the green zone, which I've identified as a strong support level. I believe buyers will likely step in and push the price back up when we reach this zone, offering a good opportunity to enter long.
Strategy: I'll be looking for signs of support holding in the green zone for a potential long entry.
GBPUSD Ben hello everyone!
On the 1-hour chart, the downtrend continues. After losing momentum from 1.306, GBPUSD has continued to decline. With the market looking unfavorable and the Fed’s interest rate cut policy unclear, GU has lost value.
The next target for the next decline is seen at 1.2950, which is a strong psychological barrier. However, the possibility of a rebound cannot be ruled out if the bulls manage to push the price up from 1.2980 as mentioned on the chart.
GBPUSD's decline has not stopped yetHello everyone, Conan!
Today, the GBPUSD pair is maintaining a mild negative trend, trading at around 1.0544. After losing momentum from 1.3000, GBPUSD has continued to decline. The pair could continue to decline in the coming period, as the market reassesses the Bank of England (BoE) policy outlook following weak inflation data.
The current support level is set at 1.2976, significant stops will accumulate below this figure and if triggered, the decline could accelerate towards 1.2950.
GBPUSD D1 I Bearish Reversal Based on the daily chart analysis, we can see that the price is rising toward our sell entry at 1.3040, which is a pullback resistance
Our take profit will be at 1.2890, a pullback support close to 50% Fibo retracement and 127.2% Fibo extension
The stop loss will be at 1.3176, a pullback resistance level.
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GBPUSD SHORTLooking to short gbpusd shortly after doing a minor pullback to my entry level on the daily chart
Bought GBPUSD for counter trend play on 4H TFI am buying GBPUSD in anticipation for the price to go to my sell zone on 4H TF
Entered using 1H TF price action to the upside and with a 3R Risk Reward Ratio
My main play for this week is to sell but I guess this can work as well just as long I place my SL to BE upon confirmation on 4H TF just to be safe as well.
GBPUSD Swing Analysis 17-10-2024Following the previous weekly analysis:
*I was expecting the internal HL in premium area to hold the price and potentially see a bounce and a resumption of a bullish trend.
*Price failed to provide us with a MSS on 4H chart, which lead to price breaking below our strong HL.
1.We now expect price to continue with the counter trend *Pull back phase* until we reach discount prices.
2. On LTF price should be forming LL-LH and we recently had a BOS. I would expect price to pull back within that range of the last LH-LL to provide me with a LH entry for shorts
TAPDA PRECISON Initially I was looking for a LND session trade as I trade from the uk...
my anticipated price point was not hit however I expect some of you traded the 12:30 90 min tf fvg before CPI news. Paired with Asian range manipulation
I patiently waited for Ny session. never looking to chase price during a decline
I scaled out into 90 min Tf and identified a bearish 8:00 breaker/OB
knowing this I instantly framed my ideas and yet again patiently waited for the 8:00 90 min TF to take place, placed sell limit in line with 8:00 breaker and price swiftly tapped me in.
It is crucial that you always try and have TIME and PRICE alignment this will give you the most institutionally dynamic responses possible.
There was also alignment throughout dollar index, Euro and obviously GBP/USD (which I trade)
USDX seeking BULLISH OB and Euro Seeking Bearish OB.
This gives me Extra clarity / On top of what I already had antitipated
I strongly advise you to never chase price if you simply miss a trade do not panic do not have FOMO simply wait. the MARKETS give out so much opportunity do not rush and give out capital to the smarter traders.
DO NOT FIGHT THE MARKETS, let it come to you have your knowledgeable anticipated price point, stay within your designated risk parameters and execute accordingly to your rules.
DO NOT BREAK YOUR OWN RULES & CHEAT YOURSELF
GBPUSD Liquidity trap?What I see is liquidity sweep and break price 1.3000 rejected to go lower and now pullback to price 1.30000 to give entry on long to test price 1.3050.
