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WEEKLY FOREX FORECAST SEPT 7-11th: GBPUSD GBP | GBPUSD is at an OTE level currently, and may find support for higher prices. I am on the lookout for BUY setups, as I do not want to take shorts in this market until prices breaks below 1.3000. Check the comments section below for updates regarding this analysis throughout the week. Enjoy! May profits be upon you. Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! Disclaimer: I do not provide personal investment advice and I am not a qualified licensed investment advisor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
CME:6B1!Long
by RT_Money
GBP/USD Eyes Key Demand Zone: Potential for Retracement AheadThe GBP/USD currency pair has approached a notable demand zone, which appears particularly intriguing on the future 6B1 chart. This area could present significant opportunities that may become even more evident in subsequent trading sessions. Currently, the price of the GBP/USD pair is exhibiting signs of being overbought. This condition is largely influenced by retail traders who are driving the price upward aggressively. Such market dynamics often precede a potential pullback as the buying momentum may not be sustainable over the long term. Given these conditions, we are anticipating a retracement of the British Pound in the near future. This expected downward movement would align with the typical market behavior following an overbought state, where prices correct themselves after a significant upward surge. Traders should monitor this development closely, as it could offer valuable entry points for those looking to capitalize on the impending adjustments in price. GBP Futures ( Weekly Chart ) ✅ Please share your thoughts about GBP/USD 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.
Short
by FOREXN1
3
GBP/USD:Anticipating a Bearish Scenario for the British PoundFollowing our successful forecast on the British Pound (link below), we are now poised to take advantage of another shorting opportunity as the price retests the previous supply area. This retest suggests a possible bearish scenario on the horizon. Our analysis is further supported by the latest Commitment of Traders (COT) report, which indicates a notable increase in retail long positions. This influx of long positions among retail traders often precedes a bearish reversal, providing additional validation for our anticipated market movement. As the British Pound retests the supply area, we foresee a potential new bearish impulse forming. This aligns with our strategic outlook, where we aim to capitalize on the expected downward momentum. The convergence of technical analysis and trader sentiment data strengthens our confidence in this bearish forecast. In summary, we are preparing for a bearish scenario for the British Pound, leveraging the retest of the supply area and the insights gained from the COT report. This approach ensures we remain well-positioned to take advantage of the expected market movements. Stay tuned for further updates and detailed analysis. Previous Forecast: ✅ Please share your thoughts about GBP 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.
CME:6B1!Short
by FOREXN1
3
GBPUSD. Weekly trading levels 10.06.2024 - 14.06.2024During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade. If you expect any medium-term price movements, then most likely they will start from one of the zones. Levels are valid for a week, the date is in the title. Next week I will adjust the levels based on new data and publish a new post. ! Please note that brokers have a difference in quotes, take this into account when trading. The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :) ---------------------------------------------- I don’t play guess the direction (that’s why there are no directional arrows), but zones (levels) are used for trading. We wait for the zone to approach, watch the reaction, and enter the trade. Levels are drawn based on volumes and data from the CME. They are used as areas of interest for trading. Traded as classic support/resistance levels. We see the reaction to the rebound, we trade the rebound. We see a breakout and continue to trade on a rollback to the level. The worst option is if we revolve around the zone in a flat. Do not reverse the market at every level; if there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern. Don't forget to like Rocket and Subscribe!!! Feedback is very important to me!
by Forex_Hoby
GBPUSD. Weekly trading levels 3 - 7.06.2024During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade. If you expect any medium-term price movements, then most likely they will start from one of the zones. Levels are valid for a week, the date is in the title. Next week I will adjust the levels based on new data and publish a new post. ! Please note that brokers have a difference in quotes, take this into account when trading. The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :) ---------------------------------------------- I don’t play guess the direction (that’s why there are no directional arrows), but zones (levels) are used for trading. We wait for the zone to approach, watch the reaction, and enter the trade. Levels are drawn based on volumes and data from the CME. They are used as areas of interest for trading. Traded as classic support/resistance levels. We see the reaction to the rebound, we trade the rebound. We see a breakout and continue to trade on a rollback to the level. The worst option is if we revolve around the zone in a flat. Do not reverse the market at every level; if there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern. Don't forget to like Rocket and Subscribe!!! Feedback is very important to me!
by Forex_Hoby
1
GBPUSD. Weekly trading levels 27 - 31.05.2024During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade. If you expect any medium-term price movements, then most likely they will start from one of the zones. Levels are valid for a week, the date is in the title. Next week I will adjust the levels based on new data and publish a new post. ! Please note that brokers have a difference in quotes, take this into account when trading. The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :) ---------------------------------------------- I don’t play guess the direction (that’s why there are no directional arrows), but zones (levels) are used for trading. We wait for the zone to approach, watch the reaction, and enter the trade. Levels are drawn based on volumes and data from the CME. They are used as areas of interest for trading. Traded as classic support/resistance levels. We see the reaction to the rebound, we trade the rebound. We see a breakout and continue to trade on a rollback to the level. The worst option is if we revolve around the zone in a flat. Do not reverse the market at every level; if there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern. Don't forget to like Rocket and Subscribe!!! Feedback is very important to me!
by Forex_Hoby
1
GBPUSD. Weekly trading levels 13 - 17.05.2024We continue the experiment with a wider range of zones. Let's see if we can guess the places to search for deals for the week ahead. During the week you can trade from these price levels. Finding the entry point into a trade is up to you, depending on your trading style and the development of the situation. If you expect any medium-term price movements, then most likely they will start from one of the zones. Levels are valid for a week, the date is in the title. The next morning I adjust the levels based on the new data and publish a new post. The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :) ---------------------------------------------- Levels are drawn based on volumes and data from CME. Used as areas of interest for trade. When approaching a level, a “reaction” is expected, which can be traded for both a rebound and a breakout. The worst option is if we revolve around the level in a flat. Do not reverse the market at every level; if there is a trend movement, consider it as an opportunity to enter into a continuation of the movement. Until the price has drawn a reversal pattern. Don’t forget to like Rocket, Comments and Subscribe!!!
by Forex_Hoby
GBPUSD. Weekly trading levels 20 - 24.05.2024During the week you can trade from these price levels. Finding the entry point into a transaction and its support is up to you, depending on your trading style and the development of the situation. Zones show preferred price ranges WHERE to look for an entry point into a trade. If you expect any medium-term price movements, then most likely they will start from one of the zones. Levels are valid for a week, the date is in the title. Next week I will adjust the levels based on new data and publish a new post. ! Please note that brokers have a difference in quotes, take this into account when trading. The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :) ---------------------------------------------- I don’t play guess the direction (that’s why there are no directional arrows), but zones (levels) are used for trading. We wait for the zone to approach, watch the reaction, and enter the trade. Levels are drawn based on volumes and data from the CME. They are used as areas of interest for trading. Traded as classic support/resistance levels. We see the reaction to the rebound, we trade the rebound. We see a breakout and continue to trade on a rollback to the level. The worst option is if we revolve around the zone in a flat. Do not reverse the market at every level; if there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern. Don't forget to like Rocket and Subscribe!!! Feedback is very important to me!
by Forex_Hoby
GBP (GBPUSD. 6BM2024, GBP FUTURES)... BULLISH!Bias is Bullish. Came very close to the DOL, and barely missed the FVG. I expect both will be tapped next week. The IFVG, price trading through the swing high, and the +FVG, are multiple confluences that support the idea that price will find support at these levels and continue higher. Expecting price to tap the +FVG before heading higher. Thank you for viewing! Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! May profits be upon you.
CME:6B1!Long
by RT_Money
2
GBP/USD Trends: Implications of UK and US Economic IndicatorsGBP/USD is facing challenges in the aftermath of the recent data release from the UK's Office for National Statistics. According to the data published early Tuesday, the ILO Unemployment Rate in the three months to March edged higher to 4.3% from the previous 4.2%, aligning with analysts' expectations. Meanwhile, annual wage inflation, indicated by the change in the Average Earnings Including Bonus, remained steady at 5.7%, surpassing market forecasts of 5.3%. Despite these mixed indicators, Pound Sterling failed to garner significant momentum. The price action has exhibited a reversal with a negative delta, signaling heightened activity from both buyers and sellers within an imbalance on the daily chart. Our strategy involves capitalizing on the inefficiency around the 1.24675 area, where there is potential for further downside movement. The volume remains subdued, as observed in the futures market, which has retraced to retest the previous Point of Volume of the preceding session, suggesting a downward bias for the GBP/USD pair. In the upcoming early American session on Tuesday, the US Bureau of Labor Statistics is set to release the Producer Price Index (PPI) data for April. Investors anticipate a 0.2% monthly rise in the PPI ex Food & Energy. A core PPI increase exceeding 0.3% could bolster the USD against its counterparts, while a figure below market consensus might buoy GBP/USD. However, given the proximity to Wednesday's Consumer Price Index (CPI) data release, any market reaction is likely to be short-lived. British Pound Futures
Short
by FOREXN1
2
GBPUSD. Levels for intraday trading 1.05.2024During the day you can trade from these price levels. Finding the entry point into a trade is up to you, depending on your trading style and the development of the situation. If you expect any medium-term price movements, then most likely they will start from one of the zones.Relevant to use as a location for installing TP. Levels are valid throughout the day, the date is in the title. The next morning I adjust the levels based on current data and publish a new post. The history of level development can be seen in my previous posts. They cannot be edited or deleted. Everything is fair. :) --------------------------------------- Levels are drawn before the European session, based on volumes and data from the CME. They are used as zones of interest for intraday trading. When approaching a level, a “reaction” is expected, which can be traded for both a rebound and a breakout. The worst option is if we revolve around the level in a flat. Do not reverse the market at every level. If there is a trend movement, consider it as an opportunity to continue the movement. Until the price has drawn a reversal pattern. TV does not allow publishing timeframes smaller than M15.Reactions to levels and the search for entry points are more convenient to look at M5-M1. Don’t forget to like Rocket and Subscribe!!!
by Forex_Hoby
6BV3On the backside of the short we can ape in for the bounce off the bottom, would not recommend futures as the open interest on the contracts will be low, options is how to play this. Safe side is sell the put (don't advise selling naked unless you can manage the trade at all hours) or a credit spread to hedge any risk. This will provide ample time to collect the premium through any volatile price actions. I will be buying the call (naked) this is a much riskier trade and the "WIN HERE" line is meant for me not sellers of the premium. Disclaimer I took the trade out yesterday but still feel there is room to publish the idea. This is why I recommend selling the premium rather than buying the call.
CME:6BV2023Long
by kewlkat
GBP - 1.24 Lower Next?!GBP - 1.24 Next?! CME:6B1! FX:GBPUSD GBPUSD - 1.24 Next! We've had a great run, I'd still be buying longer term dips on GBP - However, for now I feel a pull back is due and this is great opportunity for us traders to take opportunities of the bull and bear side! Overall pattern, wedge - We've broken to down side the first area of interest to me is 1.24/ 1.23 high areas and the next would be 1.22 areas! If we are to close above 1.25 i'd be re thinking this plan... Trade Journal (Not Financial Advice)
CME:6B1!
by Trade_Journal
3
GBP - Month & Quarter End...GBP - Month & Quarter End... What a quarter we've had...We do still have plenty of data coming out today. Buckle up! We just had EUR CPI flash coming out lower than expected but the core is in line but today we have another important data print coming out of US - Core PCE Price Index m/m. Which is a key metric the FED are taking into account. Now I don't know about you but end of the month and end of the quarter is week I take off and just watch the market as we do get lot of funky moves and I know a lot people struggle with FOMO I was one of them but you got know when to step away and stand on the side line! GBP we hitting the key resistance areas the next area to take into consideration is 1.24/1.25 areas. I've been bullish GBP since the start of the year and I am still very much bullish on GBP but you got trade what you see, not what you think. You can see through my 2023 post regarding where most of them majors could reach. Now where we are today technically, in a bullish trend as long as we are within this channel on cable, we go above the areas of 1.24500 then I expect 1.26 - key resistance is 1.25 keep that in mind... but if we struggle and we go below the areas of 1.2310 support then I expect 1.22 to be key support. Now, i'd be careful trading today....It's Friday a good trader well known as 'Coach' always stated "Don't make your PnL on Friday!" Let's have a great Q2 - all the best traders! Trade Journal
CME:6B1!
by Trade_Journal
BRITISH POUND Futures (6B1!), H4 Potential for Bearish DropType : Bearish Drop Resistance : 1.2016 Pivot: 1.1894 Support : 1.1781 Preferred Case: On the H4, with the price moving below the ichimoku cloud and moving within the descending trend line, we have a bearish bias that the price may drop from the pivot at 1.1894, which is in line with the 78.6% fibonacci retracement to the 1st support at 1.1781, where the swing low is. Alternative scenario: Alternatively, price may rise to the 1st resistance at 1.2016, which is in line with the 38.2% fibonacci retracement. Fundamentals: the retail sales data (0.3%) was out today, which is higher than the expected and previous (-0.2%), which is a positive signal of economy, therefore we could expect the drop momentum decrease recently.
CME:6B1!Short
by Genesiv