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#gbpusd#forex

GBP/USD: On the Edge – Breakout or Breakdown?GBP/USD is locked in a tug-of-war around the 1.2637 zone, but history suggests that this level has rejected buyers at least twice before. The shadow of resistance looms large, and if history repeats itself, a strong correction could be on the horizon. On the 4H chart, price is stuck between the EMA 34 and EMA 89, showing clear signs of weakening momentum. If GBP/USD fails to break through 1.2637, it risks sliding down to 1.2532 and even 1.2454 – where key support is patiently waiting. Warning: The upcoming UK Retail Sales data will act as the key catalyst. If the numbers exceed expectations, GBP may hold its ground. However, if the data disappoints, the fall could happen faster than expected!
Short
by Zanka_
GBPUSDHello Traders! 👋 What are your thoughts on GBPUSD? The price has successfully broken its downward trendline and, after a successful pullback, has also broken through a key resistance level to the upside. Currently, the price is consolidating above the broken resistance, which indicates strong buyer momentum and a potential continuation of the uptrend. Given the current market structure, the price is likely to experience a minor pullback and consolidation before continuing its upward movement. Don’t forget to like and share your thoughts in the comments! ❤️
Long
by HAMED_AZ
8
Keep an eye on the BoE interest rate decisionDo not miss the BoE interest rate decision, where the Bank is expected to go for another 25bps cut. Can the BoE afford it? Let's see. MARKETSCOM:GBPUSD FX_IDC:GBPUSD 74.2% 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. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK. Cryptocurrency CFDs and spread bets are restricted in the UK for all retail clients.
by Marketscom
GBP/USD Rolling Over at Resistance - Where Next?Chart Analysis: GBP/USD is approaching the critical 1.2500 resistance level, a threshold that could determine the next directional move for the pair. 1️⃣ Resistance at 1.2500: The horizontal level at 1.2500 has acted as a significant barrier, capping recent upward momentum. A decisive break above this level would pave the way for further gains, potentially targeting the 1.2600 area or beyond. 2️⃣ Moving Averages: 50-day SMA (blue): Positioned at 1.2525, aligning closely with the resistance zone and reinforcing its importance. 200-day SMA (red): At 1.2791, remains above current price levels, indicating that the longer-term trend still favors the bears. 3️⃣ Momentum Indicators: RSI: At 51.49, showing neutral momentum but with room for further upside before reaching overbought territory. MACD: Remains below zero but is trending higher, suggesting improving bullish momentum. What to Watch: A sustained breakout above 1.2500 and the 50-day SMA could signal the start of a bullish reversal. Failure to clear this zone may result in a pullback, with immediate support at 1.2400 and further downside toward 1.2300. GBP/USD remains at a pivotal juncture, with the 1.2500 level acting as a key hurdle that bulls must overcome to establish a broader recovery. -MW
by FOREXcom
GBPUSD: Channel Down forming a top on the 1D MA50.GBPUSD is neutral on its 1D technical outlook (RSI = 54.465, MACD = -0.003, ADX = 25.916) hitting today its 1D MA50 for the first time after October 9th 2024. By doing so, it reached the top of the 4 month Channel Down and is technically the best level to short. Attention is required as the 1D RSI broke over its 4 month Rectangle, so it may be an early bullish breakout signal, but until we close a candle over the 1D MA50, the trend is bearish and this is the most cost-effective short. The last 0.5 Fibonacci rejection (December 6th) targeted the 1.618 Fibonacci extension. This time we will aim a little higher than that (TP = 1.1950) to match the % decline of the previous bearish waves. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope