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U.S. Dollar / Pound Sterling

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USDGBP trade ideas

GBP/USD Weakness Continues Amid Expect. of Faster BoE Rate Cuts As anticipated in our previous analysis, the British Pound (GBP) remains under pressure, with the GBP/USD pair showing continued signs of weakness. Market sentiment suggests that the Bank of England (BoE) could accelerate its rate-cutting cycle, a view bolstered by recent dovish remarks from BoE Governor Andrew Bailey. Last week, Bailey hinted that the central bank might adopt a more aggressive stance on cutting rates if inflation continues to show favorable trends. This prospect has increased market bets on rate cuts, which is contributing to the downward pressure on the GBP/USD pair. Market Sentiment: Retailers Hopeful, Smart Money Bearish From a sentiment perspective, retail traders remain hopeful for a possible bullish reversal in the GBP/USD pair. However, smart money (institutional investors) continues to lean towards a bearish outlook, aligning their positions with the broader market expectation of a weakening Pound in the face of potential rate cuts by the BoE. Technical Outlook: Identified Demand Area Technically, we have recognized a potential demand area where the price may find support. However, the downward trend could extend further, particularly after the release of the FOMC Minutes, which may provide more clarity on the direction of US monetary policy. This could continue to push the GBP/USD pair lower. At this moment, patience is crucial. We are waiting for the price to approach key levels where a potential reversal could occur, but it is essential to wait for confirmation before taking action. Conclusion The British Pound remains under pressure as markets increasingly believe that the Bank of England could accelerate its rate-cutting cycle. Governor Bailey's recent comments have fueled this speculation, leading to increased bearish sentiment in the GBP/USD pair. For now, patience remains key as we wait for the price to reach critical demand areas that may offer a chance for a reversal. Until then, traders should remain cautious and avoid premature entries. ✅ Please share your thoughts about GBPUSD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
by FOREXN1
1
GBPUSD Will it hold the 1D MA50??The GBPUSD pair has been trading exactly on its 1D MA50 (blue trend-line) for the past two days and so far it held. Today though it appears to be making its first legitimate attempt to break it and if the 1D candle closes below it, we will have a confirmed bearish break-out. This is similar to the August 03 2023 bearish break-out, which was the ultimate medium-term sell confirmation after a long Bullish Megaphone that dictated the trend. As you can see the two fractals are identical, initially declining by around -5% and then rising towards the 2.0 Fibonacci extension through their Megaphones. The 2023 sell signal reached the 0.786 Fib after the break-out and that will be our Target again (1.2550) if the 1D candle confirms that closing below the 1D MA50. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
Cable H4 | Resistance at 38.2% Fibonacci retracementCable (GBP/USD) could rise towards a swing-high resistance and potentially reverse off this level to drop lower. Sell entry is at 1.3103 which is a swing-high resistance that aligns with the 38.2% Fibonacci retracement level. Stop loss is at 1.3145 which is a level that sits above the 61.8% Fibonacci retracement level and a swing-high resistance. Take profit is at 1.3001 which is a swing-low support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
Slightly Bullish Bias Expected on GBPUSD today 09/10/2024.GBPUSD Analysis for 09/10/2024: Slightly Bullish Bias Expected In today's analysis of GBPUSD, the currency pair is showing signs of a potential slightly bullish bias based on the latest fundamental factors and current market conditions. As of 09/10/2024, several key drivers are influencing the market, pointing toward a moderate upside for the British Pound (GBP) against the US Dollar (USD). Here's a breakdown of the fundamental and technical factors that could contribute to this outlook. Fundamental Factors Supporting Bullish Bias 1. Improved UK Economic Data Recent data from the UK, particularly in sectors such as manufacturing and services, have shown resilience despite broader global economic challenges. The UK Services PMI reported a higher-than-expected reading, signaling growth in the sector, which is a positive indicator for GBP. Additionally, consumer confidence in the UK has remained relatively stable, offering further support to the Pound. 2. Bank of England (BoE) Policy Outlook The Bank of England's latest statements suggest that while inflation remains a concern, the central bank may adopt a more cautious approach to tightening. This is in contrast to the more aggressive stance of the Federal Reserve, which is already priced into the market. A less hawkish BoE stance could provide upward pressure on GBPUSD, especially if traders believe the BoE may slow down rate hikes earlier than anticipated. 3. US Dollar Weakness On the other side of the pair, the US Dollar has shown signs of weakness amid lower-than-expected Non-Farm Payroll (NFP) data released last Friday. This has led to speculation that the Federal Reserve might pause its interest rate hikes, dampening demand for the USD. The weakening US Dollar adds to the bullish bias for GBPUSD. Technical Outlook for GBPUSD on 09/10/2024 - Support and Resistance Levels GBPUSD is currently trading near key support at 1.2150, with the next major resistance level around 1.2250. If the pair breaks above this resistance, it could signal further upside potential, reinforcing the slightly bullish outlook for the day. - Moving Averages On the technical side, the 50-day Moving Average (MA) is gradually turning upwards, indicating positive momentum for the pair. The Relative Strength Index (RSI) is also hovering near the neutral 50 level, suggesting that there is room for further gains before the pair becomes overbought. Geopolitical Factors and Market Sentiment - Global Risk Sentiment Market sentiment has leaned slightly towards risk-on, with investors showing a renewed appetite for riskier assets such as equities. This shift has seen traders pull back from the safe-haven USD, benefiting risk-sensitive currencies like GBP. As long as global geopolitical tensions remain stable and there are no major risk-off events, the Pound could continue to benefit. Conclusion In conclusion, based on the current economic landscape, GBPUSD is showing signs of a slight bullish bias on 09/10/2024. Key drivers such as positive UK economic data, a potentially cautious BoE, and a weakening US Dollar are aligning to support an upside move in the pair. However, traders should remain cautious and watch for any unexpected shifts in global market sentiment or central bank policies that could impact this outlook. For those looking to trade GBPUSD today, it may be worth considering potential entry points around the 1.2150 support level, targeting the 1.2250 resistance, with appropriate risk management strategies in place. --- Keywords for SEO: GBPUSD analysis, GBPUSD forecast, slightly bullish bias, UK economic data, Bank of England policy, US Dollar weakness, GBPUSD technical analysis, support and resistance levels, forex trading, GBPUSD 09/10/2024, forex forecast, British Pound to US Dollar, forex market outlook, GBPUSD trend, forex trading strategies.
Long
by PERFECT_MFG
GBPUSD Is Bearish! Short! Here is our detailed technical review for GBPUSD. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 1.307. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.286 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
GBP/USD: Caught Between a Rock and a Breakout!Alright y'all, let's dive into a top-down analysis of GBP/USD. Starting on the monthly chart, we see price approaching a key weekly resistance level at 1.32226. The pair has been respecting this level since mid-2023, and it’s been a significant zone for reversal or continuation. With price just under this resistance, we need to be cautious of possible rejection, especially considering the slight pullback we see on the weekly chart. Looking at the weekly, the candles are showing bearish momentum over the past couple of weeks, approaching key support at 1.29982. However, if we see price hold above 1.30884, we could look for potential buys with a target towards 1.32226. But, if it breaks below 1.30825, we’re definitely looking at more downside potential, possibly down to 1.29982. If I'm hopping into a trade, I’ll be watching for confirmation either on the 4H or daily timeframes around these key levels before pulling the trigger. My bias right now is neutral—waiting to see where the market momentum shifts next!
by SheenaL
Potential bullish reversal?The Cable (GBP/USD) is falling towards the pivot which acts as an overlap support and could reverse to the 23.6% Fibonacci resistance. Pivot: 1.3032 1st Support: 1.2947 1st resistance: 1.3152 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets