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GBPUSD - Where to next? GBPUSD (Cable) - Is it time to buy? Technical view of GBPUSD: Unfortunately, we've been stuck within a range for a while... Support: 1.38570, 1.37740, 1.36830 Resistance: 1.40020, 1.40785, 1.41600 Pattern: Double bottom - Could be producing inverse H&S. Personally, I've been bullish GBP for while since we had 'Brexit' yet we are still trying to sort that out ha! But overall, I am bullish as long as we have weak dollar we could see 2018/17 price action coming through as I stated since last yr. (Disclaimer: As a trader, my opinion can change at any moment) Key Tip: A great trader once told me, "Trade what you see, not what you think". I can produce you this beautiful chart full of my technical aspects, but only you can put your on edge and take part of this trade idea. Fundamentals: FOMC - Rates unchanged as expected, QE same pace continues and Powell did mention yesterday - It isn't time for 'tapering', also noted some assets prices are high. Dovish tone continue. I personally think we will have more of movement in August Jackson Hole. The Dovish tone brought down DXY for new low since February. SPX Record high as expected technically as well. EUR tested 1.2150, could extend towards 1.22/1.23 areas for EU - President macron easing from Lockdown coming soon. As well, let's take into account Biden proposal of high tax to pay back all this debt, the US equity market doesn't like this. Have a great day ahead. Trade Journal (Just a trade idea, not a recommendation)
by Trade_Journal
GBPUSD Poised to Break Lower The GBPUSD looks set to attempt forming a new bearish correction at least to the descending trend line (TP Area 1). Notice that the latter had previously served as a major resistance but is currently taking the role of a descending support. In other words, it could initiate another bullish rebound once the price falls to it. At the same time, the recent bullish pullback has been unable to break out above 1.39000 decidedly, which implies that the underlying bullish pressure is running on fumes. This assertion is supported by the fact that the Stochastic RSI indicator is currently demonstrating rising selling pressure. Hence, the anticipated bearish reversal is likely to emerge soon.
Short
by Trendsharks
1
GBP/USD – Week 16 – Expecting another drop.As we anticipated in our last week’s outlook, the sterling moved slow the whole week, as the price entered a bearish consolidation phase. For this week, we expect the price to test one of the two resistance areas that we highlighted before making another attempt to break the previous low. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Short
by financialflagship
11
GBP - FUNDAMENTAL DRIVERSFUNDAMENTAL BIAS : BULLISH 1. Virus Situation Regarding the UK's coronavirus outlook, this remains encouraging with the UK's vaccine program having administered at least one dose to over half of the UK population. Given the current success of its vaccine program, the UK is now in the early stages of lifting lockdown restrictions. While the UK's coronavirus outlook is improving, we expect GBP to remain well supported. The biggest risk to this view is the current challenges regarding the AstraZeneca vaccine, which the UK is very reliant upon to reach their vaccination targets. 2. The Monetary Policy outlook for the BOE From the start of the year the BOE had a change of heart regarding negative interest rates when on the 12th of Jan Governor Bailey pushed back against negative rates, and that view was confirmed in the BOE’s meeting on the 4th of February where they firmly pushed back against negative rates. Even though the BOE is nowhere close to hawkish, their less dovish demeanour regarding the overall economic outlook (and unphased approach to rising yields) have seen markets shifting their monetary policy expectations from expecting the next move to be a 10 bsp cut to now expecting the next move to be a hike of 10 bsp. 3. The country’s economic developments Economic data has been better-than-expected despite renewed lockdown measures that was announced at the end of last year. The hopes of a possible faster economic reopening and subsequent recovery has seen both the BOE and IMF upgrade growth projections for the UK economy which has widened the growth differentials between other majors by quite a bit and is something that should continue to be a supportive factor for GBP.
by thunderpips
GU Long Opportunity, 1:7 AvailableMorning ladies and gents, With EURGBP weakness, pushing downwards off the H4 Bearish Orderblock and EURUSD pushing downwards off the D1 Bearish Orderblock. It's possible to assume that G strength is imminent. Above we see three sets of equal highs being created, this is a high volume area that price was likely to reach into. GU traded down into our D1 Mitigation Block. Coming out of Asia we see a break in the bearish structure on the lowertime frames. After stop hunting below the lows of asia, price is now ready to move to the upside and take out the liquidity resting above the H4 highs as indicated by my take profit situated around the 1.4000 region. Best of luck.
Long
by Jiraiya_eth
1
GBP/USD – Week 15 – Aiming for the support.As we anticipated in our last week's outlook, GBPUSD corrected and dropped from the liquidity pool finding some support around $1.3670. For this week, we expect the price to make another bullish attempt and re-test the “high-frequency area” before continuing its journey towards the bigger support area located at $1.3500. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Long
by financialflagship
2
GBP - FUNDAMENTAL DRIVERS1. Virus Situation Regarding the UK's coronavirus outlook, this remains encouraging with the UK's vaccine program having administered at least one dose to over half of the UK population. Given the current success of its vaccine program, the UK is now in the early stages of lifting lockdown restrictions. While the UK's coronavirus outlook is improving, we expect GBP to remain well supported. The biggest risk to this view is the current challenges regarding the AstraZeneca vaccine, which the UK is very reliant upon to reach their vaccination targets. 2. The Monetary Policy outlook for the BOE From the start of the year the BOE had a change of heart regarding negative interest rates when on the 12th of Jan Governor Bailey pushed back against negative rates, and that view was confirmed in the BOE’s meeting on the 4th of February where they firmly pushed back against negative rates. Even though the BOE is nowhere close to hawkish, their less dovish demeanour regarding the overall economic outlook (and unphased approach to rising yields) have seen markets shifting their monetary policy expectations from expecting the next move to be a 10 bsp cut to now expecting the next move to be a hike of 10 bsp. 3. The country’s economic developments Economic data has been better-than-expected despite renewed lockdown measures that was announced at the end of last year. The hopes of a possible faster economic reopening and subsequent recovery has seen both the BOE and IMF upgrade growth projections for the UK economy which has widened the growth differentials between other majors by quite a bit and is something that should continue to be a supportive factor for GBP.
by thunderpips
GBPUSD, Short, RR 1:5 available!Good morning ladies & gents, Cable is positioned to go short this morning in London. After breaking the market structure on the higher timeframes, I'm looking to take a pullback pending order @ the price indicated on the chart. I anticipate that price will clear these three objectives below; however, I'll be scaling out of my position as price reaches and fulfills each objective. Stop will be moved to breakeven after the first objective has been reached. Good luck!
Short
by Jiraiya_eth
GBP: Current Sentiment DriversLatest Developments: April 7 – The UK’s coronavirus count increased to 4,367,291 cases (+2,763). March 31 – GDP for Q4 printed at 1.3% Q/Q and -7.3% Y/Y, revised from 1.0% and -7.8%, respectively. The report published by the ONS also noted that household savings for the quarter grew to their biggest ever level. This is supportive of recent comments from the BoE, who expect a significant increase in consumer activity once lockdowns are lifted. March 24 – CPI for February slowed to 0.4% Y/Y (prior 0.7%) and printed at 0.1% M/M (prior -0.2%). Core CPI slowed to 0.9% Y/Y (prior 1.4%) and printed at 0.0% M/M (prior -0.5%). March 18 – At their March meeting, the BoE kept its official Bank Rate unchanged at 0.10% and its QE programme at £895 billion. The BoE added that they do not intend to tighten policy until there is clear evidence that there is significant progress towards eliminating spare capacity and achieving its 2% inflation goal. February 23 – The Unemployment Rate for December increased to 5.1% from a prior of 5.0%. Employment Change printed at -114K while Average Earnings printed at 4.7% 3M Y/Y. For January, Claimant Count Change printed at -20.0K. Future Sentiment Shifts: There are several risks to GBP’s outlook, particularly with respect to the UK’s coronavirus/lockdown outlook and interest rate expectations. Of these two, expect the UK’s coronavirus outlook to play the more influential role in the short term as the UK’s coronavirus vaccine rollout continues to show signs of stabilizing its breakout, which in turn, should allow the UK to ease lockdown restrictions in the months ahead. However, in the medium term, as the market’s focus shifts, monetary policy should dominate. Regarding monetary policy, risks still remain; although, further easing appears unlikely at this point and markets looking for a hike in 2022. Primary Drivers: Bank of England – Monetary Policy in the UK remains highly influential to GBP’s fundamental outlook. Expectations for policy tightening should prove GBP positive, while expectations for policy easing should prove GBP negative. Brexit – The outlook for the UK’s exit from the EU in December remains a key influence for GBP as it poses significant risks to the UK’s economic outlook. With the UK set to leave at the end of the year and progress in negotiations between the UK and the EUR significantly hampered by the coronavirus outbreak, risks remain firmly tilted to the downside with a hard Brexit or even no deal Brexit remaining distinct possibilities.
by thunderpips
GBP - CENTRAL BANK ANALYSISObjective: Through the Bank of England Act 1998, the responsibility for formulating monetary policy, including the objective of stable prices defined by the government's inflation target of 2.0%, was delegated to the BoE's Monetary Policy Committee (MPC). As of February's report, inflation in the UK stands at 0.4% Y/Y, compared to January's 0.7% Y/Y. Core CPI for the month stands at 0.9%, compared to a prior of 1.4%. Situation: The BoE kept its Official Bank Rate unchanged at their March meeting at 0.10% with a vote split of 0-0-9. The MPC also voted unanimously to keep its Asset Purchase Facility unchanged for a total of £895 billion. At the meeting, the BoE stated that it does not intend to tighten policy until there is clear evidence that significant progress is being made in eliminating spare capacity and achieving its 2% inflation target sustainably. The BoE concluded that its current stance remains appropriate and news of recent plans for lifting restrictions may be consistent with a slightly stronger outlook for consumption growth.
by thunderpips
GBPUSD The Cable here on the cable we have a bearish Gartley Pattern. We currently have price kissing the 786 at the moment. what were looking for si some consolidation some confirmation on the oscillators and another good move down. This will be my second entry on the cable as i am currently short off a daily pattern. for the past two weeks we have seen the cable retrace up after the strong move down. I will be looking for an entry on the 1h. Sorry for not going into it any deeper i am behind on some school work and I am also getting back into the 4H time frame trading gonna slowly get down to the 1H again. I am also in the process in making a few courses as well that covers harmonic trading along with a myriad of other topics. When the courses go live i will upgrade my TradingView package to Premium and advertise them on my TradingView.
Short
by ARegularGuy
6
GBP - BULLISHThe focus for GBP is likely to be firmly fixed on the coronavirus outbreak now that the UK and EU have reached a Brexit agreement. Of course, although the market's focus on Brexit is now likely to markedly fade, the UK and EU's relationship will still remain of importance for GBP. This has been highlighted in recent sessions by the rise in UK/EU tensions over coronavirus vaccine supplies and distribution. Regarding the UK's coronavirus outlook, this remains encouraging with the UK's vaccine program having administered at least one dose to over half of the UK population. Given the current success of its vaccine program, the UK is now in the early stages of lifting lockdown restrictions. While the UK's coronavirus outlook is improving, we expect GBP to remain well supported, resulting in a bullish fundamental outlook.
by thunderpips
GBP/USD – Week 14 – In the middle of the correction.Last week, GBPUSD continued its corrective move towards the liquidity pool area without any major swings. For this week, we expect the correction to continue until it will reach the liquidity pool area highlighted on our chart. From that point we will study the price action as we will start and look for sell setups that could push the price towards the 1.35 support area. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Short
by financialflagship
13
GBP: Current Sentiment DriversLatest Developments: March 31 – GDP for Q4 printed at 1.3% Q/Q and -7.3% Y/Y, revised from 1.0% and -7.8%, respectively. The report published by the ONS also noted that household savings for the quarter grew to their biggest ever level. This is supportive of recent comments from the BoE, who expect a significant increase in consumer activity once lockdowns are lifted. March 30 – The UK’s coronavirus count increased to 4,341,736 cases (+4,040). March 24 – CPI for February slowed to 0.4% Y/Y (prior 0.7%) and printed at 0.1% M/M (prior -0.2%). Core CPI slowed to 0.9% Y/Y (prior 1.4%) and printed at 0.0% M/M (prior -0.5%). March 18 – At their March meeting, the BoE kept its official Bank Rate unchanged at 0.10% and its QE programme at £895 billion. The BoE added that they do not intend to tighten policy until there is clear evidence that there is significant progress towards eliminating spare capacity and achieving its 2% inflation goal. February 23 – The Unemployment Rate for December increased to 5.1% from a prior of 5.0%. Employment Change printed at -114K while Average Earnings printed at 4.7% 3M Y/Y. For January, Claimant Count Change printed at -20.0K. Future Sentiment Shifts: There are several risks to GBP’s outlook, particularly with respect to the UK’s coronavirus/lockdown outlook and interest rate expectations. Of these two, expect the UK’s coronavirus outlook to play the more influential role in the short term as the UK’s coronavirus vaccine rollout continues to show signs of stabilizing its breakout, which in turn, should allow the UK to ease lockdown restrictions in the months ahead. However, in the medium term, as the market’s focus shifts, monetary policy should dominate. Regarding monetary policy, risks still remain; although, further easing appears unlikely at this point and markets looking for a hike in 2022. Primary Drivers: Bank of England – Monetary Policy in the UK remains highly influential to GBP’s fundamental outlook. Expectations for policy tightening should prove GBP positive, while expectations for policy easing should prove GBP negative. Brexit – The outlook for the UK’s exit from the EU in December remains a key influence for GBP as it poses significant risks to the UK’s economic outlook. With the UK set to leave at the end of the year and progress in negotiations between the UK and the EUR significantly hampered by the coronavirus outbreak, risks remain firmly tilted to the downside with a hard Brexit or even no deal Brexit remaining distinct possibilities.
by thunderpips
8
Anyone selling GBPUSD? 🙋🏼‍♂️The buy reversed, we got a reverse signal as you can see. Entry details are shown on the chart. We're only looking for TP3. Trade history can be seen below this trade idea too for full transparency. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. Interested in access to my strategy so you can be in these trades the moment they're valid? Drop me a DM . The stats for this pair are shown below too. Thank you. Darren
Short
by pow_removetheguesswork
1