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U.S. Dollar / Pound Sterling

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30-mins GBP/USD: The Pound is Looking Strong and Going HigherSince the beginning of the week a Golden Cross pattern triggered a classic buy signals and the GBP/USD increased with 110 pips. The area around 1.2770 however appears to be a resistance zone, as multiple tops were formed on the 30 mins charts. Often, there is a break out above the multiple tops, but the price needs to gain some momentum beforehand. In addition to this, we do expect some of the early buyers to sell and collect profits, which will possibly cause a short term correction. The 23% Fib was tested a few times and should the price dips again, it is possible to retest deeper support areas. We are looking at the 1.2720, as this level was a high top earlier. It also aligns with the critical 38% Fibonacci retracement, so should buyers are interested in going long in GBP/USD, this lower entry will present them with a better risk to reward.
Long
by Trendsharks
GBPUSD - Delicately Poised For Its Next Move GBPUSD has experienced some big moves over previous weeks, which have seen it trade from a September 20th high of 1.3433 to a low of 1.2487 on November 22nd. Recently, GBP has been negatively impacted by a slowdown in economic growth in the third quarter, a disappointing Autumn budget and a clear-out of weak long positioning. This has all been at the same time the dollar has strengthened in response to a clean sweep of the Presidency and Congress for Donald Trump and the Republicans, US economic data has been strong and Fed policymakers have cast some doubt on whether another rate cut is required before the end of 2024. However, Is the dynamic changing? This week GBPUSD has shrugged off early falls to 1.2617 as the dollar strengthened on Monday. Then yesterday, a dip down to 1.2630 on headlines reported in the Financial Times that Bank of England Governor Bailey sees a base case of four 25bps (0.25%) rate cuts in 2025, was again met with fresh buying, this time helped by a weaker than expected US ISM Services PMI print in the afternoon. So, Is this just a limited recovery or can GBPUSD strengthen further from current levels? From a fundamental basis GBPUSD's next move feels delicately poised now going into tomorrows Non-farm Payrolls release at 1330 GMT. The outcome of this release could help to confirm or undermine the current expectation of another Fed rate cut at their final meeting of 2024 on December 18th. Now Let’s Consider What the Pepperstone Charts Show Us. Recent activity has seen something of a divergence between GBP and USD, in terms of price activity and a fall of just over 7% materialised from the 1.3433 September 20th high. From a pure technical perspective, it could be argued this saw GBP hit oversold conditions on several measures, while USD may have been classed as overbought. However, these extremes can remain for some time, because trending and sentiment conditions continue to point to extension of recent trends. In other words, traders are happy to maintain current positioning, until there is clear evidence of a directional change. Since the November 22nd lows in GBPUSD (1.2487), a recovery has materialised and the question now is, does this mark just a limited bounce as a reaction to over-extended downside conditions, or can it see the possibility of a further rally? Watching Bollinger Mid-Average As we have suggested within previous posts, the Bollinger mid-average is potentially a focus of resistance if it’s falling within a downtrend, similar to that recently seen within GBPUSD. So far this week, upside has been held at each daily close by the declining Bollinger mid-average, suggesting this may be viewed as a resistance focus. This currently stands at 1.2682 and closing defence of this level is closely watched today, given that current GBPUSD prices have already moved someway above this point. However, with the significance of the payrolls release tomorrow, we may have to wait until the dust has settled on that number before establishing the next directional risks for GBPUSD. Although, 1.2682 giving way on a closing basis, may result in further price increases, dependant on future price action. If this is seen, it may bring possibilities of a more extended retracement of the September/November decline. The 38.2% retracement stands at 1.2850 and higher 50% level at 1.2961. If an unwinding of current GBPUSD extremes develops further, these levels may prove to be important areas of resistance. Of course, while closes above mid-average resistance may have in the past seen a more extended recovery in various assets, this is no guarantee of such moves here. How About Possible Supports? To the downside, it is Fibonacci retracements that may be of interest as support, if the 1.2682 daily Bollinger mid-average continues to cap GBPUSD prices on a closing basis. The 38% retracement of latest recovery moves stands at 1.2649 and while this first support break, if seen, will not be a guaranteed trigger for weakness, it may see further price declines, possibly onto 1.2589, the deeper 62% retracement level, even towards 1.2490 November 22nd low. Clearly, no closing breaks of support or resistance have materialised yet and these are watched, and future price trends will dictate future activity, but confirmed breaks of either current support or resistance, may determine if GBPUSD can recover further, or resume negative themes. The material provided here has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research we will not seek to take any advantage before providing it to our clients. Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. 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by Pepperstone
GBPUSD longs to close off the week.Having a look at W1, we can see that the previous week closed strong bullish engulf. This, to me, indicates and possible shift in momentum. The current weekly opened and pushed straight down and is currently making the top side of the candle. With NFP due today in like 5-6 hours, we could see a huge buy-up of price. Having a look at the current daily, confluence for buys can be seen as the candle formation is favourable. Waiting to see a break of 1.27750 to see price continue with an immediate push to the upside. 1 hour left till the H4 close, so will most likely wait for that. :)
Long
by LeruoM
1
GBP/USD Testing Key Resistance at 1.2770 – Breakout or reversal?Technical analysis shows that GBPUSD is near a psychological resistance range of 1.2750-1.2770. If the price breaks above this resistance, there is strong potential for an upward movement toward 1.2800-1.2850, supported by momentum indicators such as RSI and MACD, which still indicate a weak bullish trend. Trading Recommendations: Entry Point (TP1): 1.2761 Target 1 (TP2): 1.2940 Target 2 (TP3): 1.3160 Stop Loss: 1.2500
Long
by tradingdxy85
GBPUSD → Channel breakout. Attempt to change the trendFX:GBPUSD finds an opportunity to grow. A breakout of the local trend resistance is forming amid the dollar correction. Zones of interest: 1.300 The retest of the intermediate bottom ends with reversal candlestick patterns and market reversal structure. The big question is: How long will it last? It all depends on the dollar. The US market received negative jobless claims data yesterday, which may also affect the NFP, which will be released later today. A worse-than-expected data will intensify the dollar correction, pointing to the problems in the economy (against what Powell said recently). In such a scenario, forex currencies may get a chance for a small rally. Technically, a channel breakout is a good signal that could turn into a strong momentum, but apparently traders are not in a hurry yet.... Resistance levels: 1.284, 1.300 Support levels: 1.272, 1.261, 1.2488 Accordingly, if a false breakout of resistance is formed and the price falls beyond 1.272, then we should expect a decline to 1.24. But at the moment there are positive signs to gain from 1.275 to 1.300 in the medium term. Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;) Regards R. Linda!
Long
by RLinda
8
Buy opportunitySignal: Long (Buy) Entry Point: Around 1.27621 Take-Profit (TP): 1.30989 This level aligns with the marked resistance zone. Stop-Loss (SL): 1.26540 Below the recent support zone to manage risk. Risk-to-Reward Analysis: Risk: Entry (1.27621) - Stop-Loss (1.26540) = 0.01081 (~108 pips) Reward: Take-Profit (1.30989) - Entry (1.27621) = 0.03368 (~337 pips) Risk-to-Reward Ratio: 1:3.12 (highly favorable). Confirmation: The SQZMOM_LB (Squeeze Momentum Indicator) is turning green and gaining strength, signaling bullish momentum. Price is holding above a significant support level with a potential breakout. This setup suggests a high probability of price moving toward the take-profit zone, provided current momentum continues. Let me know if you need additional insights or adjustments!
Long
by GODOCM
GBPUSD may continue into bullish phaseGBPUSD may continue into bullish phase The GBP/USD outlook reveals a short-term bullish trend for the GBP driven by seasonal factors, likely pushing the pair toward 1.32–1.33 until mid-December. However, this strength is expected to be short-lived as the USD's dominance, supported by stronger macroeconomic fundamentals, safe-haven demand, and bearish non-commercial trader positioning, comes into play. Exogenous factors and global risk sentiment also favor the USD, which could lead to a reversal, pulling GBP/USD lower to levels around 1.28–1.29 after mid-December. Traders should leverage the temporary bullish momentum while preparing for a likely USD resurgence in the medium term.
Long
by ammadbashir14
Potential bullish rise for the Cable?The price has reacted off the resistance level which is a pullback resistance and could rise from this level to our take profit. Entry: 1.2730 Why we like it: There is a pullback resistance level. Stop loss: 1.2642 Why we like it: There is a pullback support level that aligns with the 50% Fibonacci retracement. Take profit: 1.2862 Why we like it: There is a pullback resistance level that lines up with the 161.8% Fibonacci extension. 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.
Long
by VantageMarkets
GBPUSD Analysis On H1 T.FTrend Reversal Confirmed: GBPUSD Prepares for Uptrend Rally The downtrend has officially reversed, paving the way for a significant bullish rally. A key rectangle on the chart, marked as a support and resistance zone, has played a pivotal role in this trend reversal. This analysis combines Smart Money Concept and Price Action principles, highlighting the rectangle's dual function as both support and Point of Interest (POI). The trend has reversed upwards from this zone, setting the stage for a potential uptrend. Trading Plan: Stop Loss: 1.25926 (below the rectangle) Take Profits: 1. 1.26851 2. 1.27137 3. 1.27486
Long
by Olivia-Grace
3
CAN CHRISTMAS COME EARLY WITH THE GBPUSD1. Overview of GBP/USD Current Price: 1.2745 GBP/USD shows a short-term uptrend as it recovers from recent lows near 1.2550. It is now approaching key resistance levels. Trading above the 50 EMA (1.2724) and 200 EMA (1.2685) on intraday timeframes, indicating bullish momentum. 2. Key Observations Daily Chart Trend: Price has rebounded from 1.2550 support and is trending higher. The 50 EMA is still below the 200 EMA, but price action is showing recovery strength. RSI: At 55.72, indicating neutral to slightly bullish conditions with room for upward movement. MACD: A bullish crossover is forming, signaling increasing momentum. Support and Resistance: Support: 1.2550 and 1.2700. Resistance: 1.2770 (immediate), followed by 1.2800–1.2900. 4-Hour Chart Trend: Price is above the 50 EMA (1.2723) and 200 EMA (1.2687), confirming short-term bullish control. Bullish consolidation around 1.2700–1.2745, with a breakout possible. RSI: 71.15, nearing overbought territory, suggesting caution for aggressive buys. MACD: Positive momentum continues, though the histogram shows slight weakening. 15-Minute Chart Trend: Intraday charts show a consistent upward trajectory, with higher highs and higher lows. Both EMAs are aligned below the price, confirming bullish bias. RSI: Between 65-70, indicating momentum but nearing overbought conditions. Support and Resistance: Support: 1.2700. Resistance : 1.2770–1.2800. 3. Trading Recommendation Bullish Scenario (Buy) Rationale: The trend is bullish, with price above key EMAs and forming higher highs/lows. Entry: Buy on pullbacks to 1.2700–1.2720. Alternatively, buy on a confirmed breakout above 1.2770. Take-Profit Levels: Target 1: 1.2800 (psychological resistance). Target 2: 1.2900 (next major resistance). Stop Loss: Place a stop below 1.2680, below the 200 EMA. Bearish Scenario (Sell) Rationale: Overbought RSI on intraday timeframes and key resistance at 1.2770–1.2800 may trigger a pullback. Entry: Sell near 1.2770–1.2800 if price shows rejection (e.g., bearish candlestick patterns or wicks). Alternatively, sell if price breaks below 1.2700 with strong momentum. Take-Profit Levels: Target 1: 1.2650 (recent support zone). Target 2: 1.2550 (major support zone). Stop Loss: Place a stop above 1.2815 to protect against a breakout continuation. 4. Key Levels to Monitor Key Levels Action 1.2770–1.2800 (Resistance) Look for breakout (buy) or rejection (sell). 1.2700 (Support) Buy on pullbacks or watch for a breakdown to sell. 1.2550 (Major Support) Strong support zone for buyers. 5. Final Recommendation Bias: Bullish unless the price fails to break resistance. Preferred Trade: Buy near 1.2700–1.2720 or above 1.2770 for continuation. Sell only if rejection occurs at 1.2770–1.2800 or price breaks below 1.2700.
by DerrickJerry
British pound rises as UK Construction PMI jumpsThe British pound has extended its gains for a third straight trading day. In the North American session, GBP/USD is trading at 1.2757, up 0.45% on the day. The UK Construction sector rose to 55.2 in November, up from 54.3 in October and above the market estimate of 53.4. This indicates strong expansion but the report contained mixed figures. Commercial work sparkled as it jumped to its highest level in 2.5 years. On the other side of the coin, residential work fell to its lowest level since June, as home-building was been dampened by high interest rates and weak consumer confidence. The UK economy is fragile, with a stagnant services sector and manufacturing in contraction mode. The Bank of England has joined the easing cycle and has lowered rates twice this year, with the last cut in November. The BoE meets on Dec. 19 and is widely expected to hold the cash rate at 4.75%. The markets have priced in three rate cuts in 2025 and there was some surprise when BoE Governor Bailey hinted on Wednesday that the central bank was looking at four rate cuts if the BoE’s inflation projections proved correct. Bailey noted that inflation had fallen one percent lower than the BoE forecasted a year ago. Bailey’s optimistic stance on inflation means that the BoE could be aggressive in its rate-cutting cycle in 2025. With US inflation largely contained, the nonfarm payroll release has again become one of the most significant economic releases on the calendar. The November report is expected to rise to a respectable 200 thousand, after a weak gain of 12 thousand in October, which was driven downwards by hurricanes and work stoppages at Boeing. GBP/USD tested resistance at 1.2737 earlier. The next resistance line is 1.2775 1.2684 and 1.2646 are the next support levels
by OANDA