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U.S. Dollar / Pound Sterling

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USDGBP trade ideas

GBPUSD trade idea next week 05 JanuaryGBPUSD for the last week fell and created a nice downwards trend line. For the coming week as long as that trend line is not broken we will continue to fall until we reach key support. My thoughts are to sell at rejection at 1.24321 expecting to reach first support at 1.23012 which is a 130 pip move. Ill be taking partials along the way. If we break the daily trend line ill enter a buy at 1.24947 target would be weekly resistance at 1.26068 for 111 pips. I always take partials along the way. Use proper risk management dont overleverage remember theres always another trade
Short
by F0rexBorex
GBP/USD Bearish Continuation with Potential Reversal ZonesFX:GBPUSD GBP/USD Bearish Continuation with Potential Reversal Zones Analysis: The chart displays the GBP/USD 4-hour timeframe with several key elements: Price Action and SMC: Change of Character (ChOCH): Identified at the beginning of the chart, indicating a potential shift in market structure. Break of Structure (BOS): Multiple BOS points are marked, indicating bearish momentum and confirming the downtrend. Fibonacci Retracement Levels: The retracement levels (0.382, 0.5, 0.618, 0.705, 0.786) are plotted, highlighting potential reversal zones. Volume Profile: The volume profile on the right side shows significant volume nodes around 1.26698 and 1.24866, indicating strong resistance levels. Lower volume nodes around 1.22378 suggest potential support. Indicators: Relative Strength Index (RSI): The RSI is currently around 33.14, indicating oversold conditions, which could lead to a potential reversal or consolidation. Buy Strategy: Entry: 1.22378 (near the support level and oversold RSI) Take Profit 1 (TP1): 1.23356 (0.382 Fibonacci level) - 97.8 pips Take Profit 2 (TP2): 1.23960 (0.618 Fibonacci level) - 158.2 pips Stop Loss (SL): 1.21700 (below the recent low) - 67.8 pips Sell Strategy: Entry: 1.24866 (near the resistance level and high volume node) Take Profit 1 (TP1): 1.23356 (0.382 Fibonacci level) - 151 pips Take Profit 2 (TP2): 1.22378 (support level) - 248.8 pips Stop Loss (SL): 1.25500 (above the recent high) - 63.4 pips VIP Signal: Buy: 1.22378 TP1: 1.23356 (97.8 pips) TP2: 1.23960 (158.2 pips) SL: 1.21700 (67.8 pips) Sell: 1.24866 TP1: 1.23356 (151 pips) TP2: 1.22378 (248.8 pips) SL: 1.25500 (63.4 pips) Follow @Alexgoldhunter for more strategic ideas and minds This comprehensive analysis provides detailed buy and sell strategies using the Smart Money Concepts (SMC), ICT Elliott Wave, and Price Action strategies, incorporating all relevant indicators displayed on the chart.
by Alexgoldhunter
Gbpusd move to down (Read the caption)This chart presents a technical analysis of GBP/USD on the 1-hour timeframe. Here's the breakdown: 1. Trend and Channel: A descending channel is outlined with yellow lines, showing the pair's recent bearish trend. The price has broken out of this channel to the upside, indicating a potential reversal or retracement. 2. Key Zones: Sell Loss Zone (Red Area): Above 1.2631-1.2632, likely representing a stop-loss zone for sell positions. Target Zone (Blue Area): Between 1.2388 and 1.2386, identified as a potential price target for short positions. 3. Resistance Levels: A significant resistance is marked near 1.2571, which aligns with the breakout area and could act as a decision point for future price action. 4. Projected Price Movement: White arrows show a bearish projection from current levels. The analysis suggests a potential pullback after a minor consolidation or false breakout near the resistance, targeting the highlighted target zone.
Short
by Mr_Ethan1
GBPUSD downpourThis chart shows the GBP/USD currency pair on a 4-hour timeframe with an Elliott Wave count labeled (1) through (5). Key observations include: Elliott Wave Analysis: The wave count suggests a completed impulsive wave downtrend, currently in Wave (5), indicating potential bearish continuation. Support Zones: Highlighted yellow rectangles mark significant support areas where price could react, particularly around the 1.20527 level. Resistance Zone: The red line around 1.25335 marks a resistance level, likely aligned with Wave (4) retracement. Trading Idea: Based on the chart, a continuation toward the 1.20527 level seems possible, with current price action aligning with Wave (5). However, traders should confirm entry signals before acting.
Short
by sompa
1
GBPUSD Weekly: Retracement or Just Playing Hard to Get?Halamakkkk, I thought I was going to have a nice 2-3 weeks break from looking at the chart! But clearly, the weekly chart is playing with me. The weekly chart really confused me because last week the market closed with a so-called "Inverted Hammer," meaning the seller momentum is still there to push it further downward. But at the same time, the market is also showing that it closed below the Bollinger Band, which means it's oversold! Think, think, think. But but but buuuuttttt, the risk-reward for this to be a BUY is too good to ignore. So, on Monday I’ll set a pending order with Entry point on 1.21700, SL on 1.19411 and TP on 1.26000. The TP might change if it doesn't hit by end of Friday. Entry 1.21700 SL 1.19411 (Weekly fibo 1.414) TP 1.26000 (Weekly REE point) Weekly chart
Long
by Penglipur_Lara
GBPUSD nears 2024 lows: is a bounce a buying opportunity?With GBPUSD approaching its 2024 low of $1.2298, it might be tempting to buy the British Pound against the USD. However, buying solely because it's oversold is not a good reason to turn bullish. Today's data, including ADP, job openings, and jobless claims, mostly exceeded expectations. While the ADP report slightly disappointed, the deviation was minimal. As a result, Friday's non-farm payrolls are also likely to remain strong, lifting US government bond yields higher. The yield spread between US bonds and those from other regions seems set to widen further, which will continue to pressure GBPUSD. While a short-term bounce is possible, if the price rises above $1.2415, traders are likely to view this as an opportunity to short sell as long as the price stays below $1.2511. The targets remain the 2024 low of $1.2298, followed by $1.2081, which marks the October 2023 lows. The only argument for buying the British Pound at this stage might be that it seemingly can't get worse. However, it realistically can, especially with Trump potentially returning to power in the US and likely reintroducing tariffs against key trading partners. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Short
by ThinkMarkets
GBPUSD Analysis: Bullish Breakout from Falling WedgEThe forex pair GBPUSD is currently trading at 1.25600, with a target price set at 1.28000, indicating a potential gain of over 200 pips. The price action showcases a falling wedge pattern, a bullish reversal formation, which has already broken out to the upside. This breakout confirms a shift in momentum, aligning with the bullish prediction made in prior analysis. Falling wedges typically suggest decreasing bearish pressure, paving the way for buyers to dominate. The breakout signifies a strong upward move, reinforcing confidence in the target price. Traders may see this as an opportunity to capitalize on the bullish trend. However, market conditions, such as economic data or geopolitical events, should still be monitored. Proper risk management remains essential to mitigate potential losses. This setup highlights the importance of technical analysis in identifying profitable trading opportunities.
Long
by AndrewsMarket-Mastery
4-hr GBP/USD: A 120 Pip Rally After months of a downtrend, GBP/USD is showing signs of a potential recovery. In recent days, the pair has risen by 120 pips, with expectations for another 120-pip increase. The pair was heavily oversold, attracting buyers who are now driving the price higher. Crucially, the price broke above the immediate resistance at the 23% Fibonacci retracement level. The next key resistance lies near the 61.8% Fibonacci level, at 1.2590, precisely 120 pips above the current price. With the ongoing bullish momentum and strong buyer activity, we anticipate the pair could test this level soon. If the 61.8% Fibonacci resistance is decisively breached, it could signal further gains and potentially confirm a trend reversal, marking the start of a broader upward trajectory. The focus remains on the pair's ability to sustain this momentum and surpass critical resistance levels.
Long
by Trendsharks
GBPUSD Analysis: Falling Wedge Pattern and Potential 500+ Pips The forex pair GBPUSD is currently trading at 1.247, with a target price set at 1.290, presenting a potential gain of 500+ pips. The market is forming a falling wedge pattern, a bullish technical setup that often signals a potential breakout to the upside. This pattern indicates a gradual narrowing of price movement, with sellers losing momentum and buyers preparing for a reversal. Traders are closely watching for a breakout above the wedge, which would confirm the bullish bias. A breakout could trigger significant upward movement, aligning with the target price. This setup provides an attractive risk-to-reward opportunity for buyers. However, confirmation through price action and volume is essential before entering a trade. Risk management is critical due to forex market volatility. Monitoring momentum indicators can help validate the expected breakout. The next move depends on how the pair reacts at key resistance levels.
Long
by AndrewsMarket-Mastery