GBPUSD_104 2024.11.07 17:19:04 Trading Signal SELL
FrankPro Signal for GBPUSD_104
Type: Screen
Signal: SELL
TP: 1.29484
SL: 1.29868
Entry Price: 1.29804
Analysis for GBPUSD
Forecast Overall(Short-Term, Long-Term): ST=Strong Down LT=Strong Up
Forecast Methods(Short-Term, Long-Term):
[Method0] ST=Down LT=Up
[Method1] ST=Down LT=Up
[Method2] ST=Down LT=Up
Analysis Method(0)
Based on the analysis, here are my predictions for the GBP/USD pair:
**Short-term (next few days):**
* The price is expected to go down. The pair is currently moving within a descending channel, indicating a short-term bearish trend. The price is also below the 100-day SMA (1.2980), which is a bearish signal.
* However, there is a potential for a short-term recovery, as the pair is building recovery momentum toward 1.2950 and has found support near this level.
* Key levels to watch in the short-term include 1.2940, 1.2900, and 1.2980.
**Long-term (next few weeks/months):**
* The price is expected to go up. The forecast suggests that the pair is expected to test the support area near 1.2765, but then continue to grow with a target near 1.3085.
* A breakout above the resistance area and a price close above 1.3005 could signal a reversal, indicating a potential long-term bullish trend.
* The Bank of England's stance on interest rates and the prospect of a recession in the UK may influence the pair's volatility, but the overall long-term trend is expected to be bullish.
Please note that these predictions are based on the analysis provided and are subject to change as new data and events unfold.
Result: [Method0] ST=Down LT=Up
Analysis Method(1)
Based on the provided analysis, here are my conclusions on the expected price movement of the GBP/USD pair:
**Short-term (next few days):**
* The pair is currently in a descending channel, indicating a short-term bearish trend.
* The Relative Strength Index (RSI) is above 50, but the pair has yet to flip the 100-day SMA into support.
* Key support levels are at 1.2940 and 1.2900, while resistance is at 1.3000 and 1.3040.
* Given these factors, I expect the price to **go down** in the short-term, potentially testing the support area near 1.2765.
**Long-term (next few weeks/months):**
* Despite the short-term bearish trend, there is an expectation for the GBP/USD pair to rebound and continue growing towards the level of 1.3085.
* A breakout of the resistance area and a price close above 1.3005 would confirm the growth option.
* Economic data and central bank decisions, such as the Bank of England's expected rate cuts, could impact the pair's movement.
* Considering these factors, I expect the price to **go up** in the long-term, potentially reaching higher targets such as 1.3042 and 1.3057.
Please note that these conclusions are based on the provided analysis and are subject to change as new data and events emerge.
Result: [Method1] ST=Down LT=Up
Analysis Method(2)
Based on the provided analysis, here is my assessment of the expected price movement for the GBP/USD pair:
**Short-term (next few days):**
* The pair is currently trading near 1.3000, and the technical analysis suggests that it is yet to break above the 100-day SMA at 1.2980.
* The market sentiment is cautious due to the upcoming US presidential election, which may lead to a temporary consolidation or a slight decline.
* The support levels at 1.2940 and 1.2900 are likely to hold, but a break below these levels could lead to a decline towards the November 1 low of 1.2884.
* Therefore, in the short-term, the price is expected to **stay the same** or **go down** slightly, with a potential range of 1.2940-1.3000.
**Long-term (next few weeks/months):**
* The forecast and analysis suggest that the pair could test the support area near 1.2765 before potentially rebounding and growing towards the 1.3085 level.
* The expectation of interest rate cuts by the Bank of England by the end of 2025 could lead to a depreciation of the pound in the long-term.
* However, the US Dollar is currently under pressure, which could allow the GBP/USD to hold its ground or even appreciate in the long-term.
* Therefore, in the long-term, the price is expected to **go up**, with a potential target of 1.3085, but with a possible decline to 1.2765 before rebounding.
Please note that these assessments are based on the provided analysis and are subject to change as new information becomes available.
Result: [Method2] ST=Down LT=Up
Type: Screen
Signal: SELL
TP: 1.29484
SL: 1.29868
Entry Price: 1.29804
Analysis for GBPUSD
Forecast Overall(Short-Term, Long-Term): ST=Strong Down LT=Strong Up
Forecast Methods(Short-Term, Long-Term):
[Method0] ST=Down LT=Up
[Method1] ST=Down LT=Up
[Method2] ST=Down LT=Up
Analysis Method(0)
Based on the analysis, here are my predictions for the GBP/USD pair:
**Short-term (next few days):**
* The price is expected to go down. The pair is currently moving within a descending channel, indicating a short-term bearish trend. The price is also below the 100-day SMA (1.2980), which is a bearish signal.
* However, there is a potential for a short-term recovery, as the pair is building recovery momentum toward 1.2950 and has found support near this level.
* Key levels to watch in the short-term include 1.2940, 1.2900, and 1.2980.
**Long-term (next few weeks/months):**
* The price is expected to go up. The forecast suggests that the pair is expected to test the support area near 1.2765, but then continue to grow with a target near 1.3085.
* A breakout above the resistance area and a price close above 1.3005 could signal a reversal, indicating a potential long-term bullish trend.
* The Bank of England's stance on interest rates and the prospect of a recession in the UK may influence the pair's volatility, but the overall long-term trend is expected to be bullish.
Please note that these predictions are based on the analysis provided and are subject to change as new data and events unfold.
Result: [Method0] ST=Down LT=Up
Analysis Method(1)
Based on the provided analysis, here are my conclusions on the expected price movement of the GBP/USD pair:
**Short-term (next few days):**
* The pair is currently in a descending channel, indicating a short-term bearish trend.
* The Relative Strength Index (RSI) is above 50, but the pair has yet to flip the 100-day SMA into support.
* Key support levels are at 1.2940 and 1.2900, while resistance is at 1.3000 and 1.3040.
* Given these factors, I expect the price to **go down** in the short-term, potentially testing the support area near 1.2765.
**Long-term (next few weeks/months):**
* Despite the short-term bearish trend, there is an expectation for the GBP/USD pair to rebound and continue growing towards the level of 1.3085.
* A breakout of the resistance area and a price close above 1.3005 would confirm the growth option.
* Economic data and central bank decisions, such as the Bank of England's expected rate cuts, could impact the pair's movement.
* Considering these factors, I expect the price to **go up** in the long-term, potentially reaching higher targets such as 1.3042 and 1.3057.
Please note that these conclusions are based on the provided analysis and are subject to change as new data and events emerge.
Result: [Method1] ST=Down LT=Up
Analysis Method(2)
Based on the provided analysis, here is my assessment of the expected price movement for the GBP/USD pair:
**Short-term (next few days):**
* The pair is currently trading near 1.3000, and the technical analysis suggests that it is yet to break above the 100-day SMA at 1.2980.
* The market sentiment is cautious due to the upcoming US presidential election, which may lead to a temporary consolidation or a slight decline.
* The support levels at 1.2940 and 1.2900 are likely to hold, but a break below these levels could lead to a decline towards the November 1 low of 1.2884.
* Therefore, in the short-term, the price is expected to **stay the same** or **go down** slightly, with a potential range of 1.2940-1.3000.
**Long-term (next few weeks/months):**
* The forecast and analysis suggest that the pair could test the support area near 1.2765 before potentially rebounding and growing towards the 1.3085 level.
* The expectation of interest rate cuts by the Bank of England by the end of 2025 could lead to a depreciation of the pound in the long-term.
* However, the US Dollar is currently under pressure, which could allow the GBP/USD to hold its ground or even appreciate in the long-term.
* Therefore, in the long-term, the price is expected to **go up**, with a potential target of 1.3085, but with a possible decline to 1.2765 before rebounding.
Please note that these assessments are based on the provided analysis and are subject to change as new information becomes available.
Result: [Method2] ST=Down LT=Up
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