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GBP (British Pound)

Potential bullish rise?GBP/USD has reacted off a support level which is a pullback support and could rise to our take profit. Entry: 1.2664 Why we like it: There is a pullback support level. Stop loss: 1.2630 Why we like it: There is a pullback support that is slightly below the 127.2% Fibonacci extension. Take profit: 1.2762 Why we like it: There is a pullback resistance level which lines up with the 50% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
Bracing for UK Inflation & BOE decision In the UK, inflation data expected tomorrow is projected to fall to 2% in May, down from 2.3% in April. This would mark the first time since April 2021 that inflation has hit the Bank of England’s 2% target. However, a positive inflation report is unlikely to result in a rate cut at Thursday’s meeting, especially with an election on July 4th. Markets are pricing in an initial rate cut for August. Technically, the pound/dollar has been trading sideways recently. With GBP/USD breaking below 1.2700, the first support level is at 1.2667, the May 24 low. For any more downside, the next target could be the 100-day moving average (DMA) at 1.2643, followed by 1.2600. Limiting the downside could be the recently released US retail sales data. US retail sales grew by a modest 0.1% in May, below the expected 0.2% gain. Excluding autos, retail sales fell by 0.1%. Additionally, April retail sales were revised down from flat to a 0.2% decline.
by BlackBull_Markets
GBP/USD Nears Monthly Low as Fed Maintain Interest Rate FirmnessThe Pound Sterling (GBP) continued its decline against the US Dollar (USD) for the third consecutive trading day on Monday. The GBP/USD pair is currently hovering near its monthly low, around 1.2660, as the Federal Reserve’s (Fed) hawkish stance on interest rates maintains the US Dollar's strength. Fundamental Analysis Federal Reserve's Interest Rate Outlook The Fed's current position is to reduce interest rates only once this year. However, financial markets are speculating that the Fed might implement two rate cuts and begin unwinding its restrictive policy framework starting from the September meeting, with potential subsequent cuts in November or December. This speculation is driven by the soft US Consumer Price Index (CPI) and Producer Price Index (PPI) reports for May, which have increased expectations for early rate cuts. Impact on GBP/USD The Fed’s firm stance on maintaining higher interest rates supports the US Dollar's appeal, exerting downward pressure on the GBP/USD pair. Despite the market's expectations for rate cuts, the immediate outlook for the USD remains strong, making it difficult for the GBP to gain ground. Technical Analysis Divergence and Support Levels Despite the bearish trend, technical analysis reveals that the GBP/USD pair is showing a divergence on the H4 timeframe. Divergence occurs when the price movement contradicts the signal from technical indicators, often suggesting a potential reversal or slowdown in the current trend. The current price action is also situated in a demand area of support, which aligns with the 50% and 61.8% Fibonacci retracement levels. These Fibonacci levels are commonly used to identify potential support and resistance zones where price reversals might occur. Trading Strategy Given the technical setup, we have identified a range area where the price is currently trading. Although the pair has seen a significant drop, the divergence and support confluence suggest a potential for a reversal or at least a temporary stabilization. To manage risk effectively, a stop loss is placed just below the 50% and 61.8% Fibonacci support levels. This ensures that if the price breaks through these key support areas, it signals a clear change in the main trend, and the trade can be exited with minimal losses.
Long
by FOREXN1
1
Heading into 50% Fibonacci resistance?GBP/CAD is rising towards a resistance level which is an overlap resistance which aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.75140 Why we like it: There is an overlap resistance level which lines up with the 50% Fibonacci retracement. Stop loss: 1.75979 Why we like it: There is a pullback resistance level. Take profit: 1.73398 Why we like it: There is a pullback support level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Heading into 50% Fibonacci resistance?GBP/CHF is rising towards a resistance level which is a pullback resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.13675 Why we like it: There is a pullback resistance level which aligns with he 50% Fibonacci retracement. Stop loss: 1.14435 Why we like it: There is a pullback resistance level. Take profit: 1.12186 Why we like it: There is a pullback support level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
GBPUSD (Technical and fundamental ) Bearish attentionTechnical Analysis of GBP/USD The price already dropped after stabilizing under 1.2693, and still running to get 1.2628. Bearish Scenario: As long as the price trades below 1.2695, it is expected to drop to 1.2627. A further decline below this level could see the price reach 1.2572. Bullish Scenario: To shift to a bullish trend, the price must reverse and stabilize above 1.2700, potentially targeting 1.2783. Key Levels: - Pivot Price: 1.2700 - Support Levels: 1.2627, 1.2572, 1.2541 - Resistance Levels: 1.2780, 1.2820, 1.2898 Today's Expected Movement Range: The price is expected to fluctuate between 1.2693 and 1.2627. Tendency: Bearish trend In summary, maintaining a position below 1.2695 supports a bearish outlook, with lower support targets in focus. Conversely, trading above 1.2700 could indicate a bullish reversal, aiming for higher resistance levels. Fundamental Analysis: US Dollar Gains Amid Key Data Releases and Fed Appearances US Dollar Rises Early Monday: The US dollar strengthened against its major trading partners early Monday, except for a slight decline versus the euro. This movement comes ahead of a busy week filled with significant data releases and appearances by Federal Reserve officials. Monday's Focus: - Empire State Survey: The week begins with the New York Federal Reserve's Empire State survey for June at 8:30 am ET, providing the first insight into manufacturing conditions for the month. - Fed Speakers: New York Fed President John Williams speaks at 12:00 pm ET, followed by Philadelphia Fed President Patrick Harker at 1:00 pm ET, and Fed Governor Lisa Cook at 9:00 pm ET. Tuesday's Highlights: - Key Data Releases: Retail sales and industrial production data. - Fed Appearances: Six scheduled appearances by Federal Reserve officials. Wednesday's Schedule: - Juneteenth Holiday: A lighter day with only weekly mortgage applications data and the National Association of Home Builders' sentiment data. Thursday's Highlights: - Jobless Claims and Housing Data: Weekly jobless claims, housing starts, and the Philadelphia Fed's manufacturing index. Friday's Highlights: - Economic Indicators: Flash data releases. In summary, the US dollar's movement this week will be closely influenced by retail sales, industrial production data, and various Federal Reserve officials' speeches, setting the stage for significant market activity.
Short
by SroshMayi
EURGBP to find sellers at market?EURGBP - 24h expiry The primary trend remains bearish. The sequence for trading is lower lows and highs. Risk/Reward would be poor to call a sell from current levels. Preferred trade is to sell into rallies. Bespoke resistance is located at 0.8455. We look to Sell at 0.8455 (stop at 0.8473) Our profit targets will be 0.8410 and 0.8400 Resistance: 0.8455 / 0.8470 / 0.8485 Support: 0.8425 / 0.8410 / 0.8395 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Short
by OANDA
GBPCHF tries to find resistance after recoveryPOUND STERLING OANDA:GBPCHF ANALYSIS - Enough US data to go around this week: ADP, services PMI and NFP - GBP/CHF attempts to find resistance as the pair recovers from overbought territory THERE’S ENOUGH US DATA TO GO AROUND THIS WEEK There is a lack of UK data this week, but it shouldn't be ignored for sterling-related pairs. FX movements increased in Q1 and central banks are now considering interest rate cuts. The question is when will they have the confidence to start. In contrast, US data has been plentiful. ADP data added to the strength seen in the job market. US services PMI data contributed to the dollar's short-term pullback after declines in "new orders" and "prices" in March, resulting in a moderate headline reading of 51.4. There is significant Fed speak today, with Jerome Powell standing out. OANDA:GBPCHF ATTEMPTS TO FIND RESISTANCE AS THE PAIR RECOVERS FROM OVERBOUGHT TERRITORY Now that the Swiss National Bank (SNB) surprised markets with a 25 basis point cut in March, the Swiss Franc appears vulnerable. However, since the SNB meeting, GBP/CHF has failed to trade above the March 21st high, witnessing long upper wicks which ultimately fell short of the mark. The pair also attempts to recover from overbought territory and so there may be room for a shorter-term pullback should bears pile in from here. The gold overlay is the yield differential for the pair (GB 10 year bond yield -Swiss 10 year yield) and has helped, to some degree, explain the path of the pair. Support sits at the recent swing low around 1.1345 with resistance at 1.1487.
by Xayah_trading
Heading into 38.2% Fibonacci resistance?The Cable (GBP/USD) is rising towards the pivot which has been identified as a pullback resistance and could reverse to the 1st support. Pivot: 1.2705 1st Support: 1.2635 1st Resistance: 1.2762 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
GBP/USD Maintains Bearish Trend Below Key Resistance LevelsTechnical Analysis of GBP/USD The price has stabilized in the bearish zone, remaining below 1.2695. Consequently, the target is set at 1.2628. Bearish Scenario: As long as the price trades below 1.2695, it is expected to drop to 1.2627. A further decline below this level could see the price reach 1.2572. Bullish Scenario: To shift to a bullish trend, the price must reverse and stabilize above 1.2700, potentially targeting 1.2783. Key Levels: - Pivot Price: 1.2700 - Support Levels: 1.2627, 1.2572, 1.2541 - Resistance Levels: 1.2780, 1.2820, 1.2898 Today's Expected Movement Range: The price is expected to fluctuate between 1.2693 and 1.2627. Tendency: Bearish trend In summary, maintaining a position below 1.2695 supports a bearish outlook, with lower support targets in focus. Conversely, trading above 1.2700 could indicate a bullish reversal, aiming for higher resistance levels.
Short
by SroshMayi
1
GBPCHF I Approaching strong weekly reversal pointWelcome back! Let me know your thoughts in the comments! ** GBPCHF Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
Long
by BKTradingAcademy
2
Buy GBPAUD Triangle BreakoutThe GBP/AUD pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours. Possible Long Trade: Entry: Consider Entering A Long Position Above The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 1.9250. Target Levels: 1st Resistance – 1.9333 2nd Resistance – 1.9380 Stop-Loss: To manage risk, place a stop-loss order below 1.9180. This helps limit potential losses if the price falls back unexpectedly. Thank you.
Long
by KABHI_FOREX_TRADING
1