Is this the Breakout we be looking for???We finally got a push to the upside after seeing price test the previous weeks low and reject. now we looking like we could break the highs on multiple time frames.
Gbp-usd
Choppy Consolidation thus far...GU is consolidating and staying within a range so I am now monitoring for a breakout from this range to possibly take out highs for the end of the month. It is the last day of the month before we hop into a new month with all the news pending I'm sure some opportunities are ahead.
Dont let the chop fool yaGU moving Choppy cause its not ready to make the ultimate bear move yet. Looking for a breakout to the upside to set us up for a much better sell opportunity.
Deciphering US Core PCE: A Blueprint for GBPUSD TradersIn today's trading session, GBPUSD enthusiasts are poised for a buying opportunity around the 1.26800 zone, leveraging the pair's uptrend amidst a correction phase. However, amidst the technical considerations, a deeper dive into the fundamental landscape reveals the looming influence of the US Core Personal Consumption Expenditure (PCE) Price Index m/m.
The significance of this economic indicator lies in its role as a measure of inflation and its consequential impact on USD strength and weakness. Delving into the historical trends of US Core PCE data unveils a nuanced narrative. Examining previous releases, such as December's reading of 0.1% against a forecast of 0.2%, juxtaposed with November's 0.2%, and October's 0.3%, provides insight into the evolving inflationary landscape.
This detailed analysis illuminates a trend of fluctuating PCE readings, painting a picture of economic uncertainty and potential volatility in the USD. As traders brace for tomorrow's announcement, expectations lean towards a potential soft print, further solidifying the case for potential USD weakness.
Against this backdrop, GBPUSD traders find themselves at a crucial juncture, weighing the technical support and resistance levels against the backdrop of evolving fundamental dynamics. The confluence of technical and fundamental factors underscores the importance of a holistic trading approach, blending technical precision with a nuanced understanding of market fundamentals.
As the trading session unfolds, traders are advised to remain vigilant, navigating the intricacies of GBPUSD's trajectory amidst the unfolding economic landscape.
Trade safe,
Joe.
HelenP. I British Pound will continue grow to resistance levelHi folks today I'm prepared for you British Pound analytics. A few moments ago price rebounded from the support level, which coincided with the support zone and rose to 1.2735 points, but then it turned around and made impulse down to 1.2500 points, thereby breaking the 1.2600 level. After this, the price in short time rose back to this level and also broke it, after which GBP made an impulse up to the resistance level, which coincided with the resistance zone. Then price bounced from this level and started to trades inside consolidation, where the price declined to the support level, after which turned around and made impulse up to the resistance zone, and even higher. But soon GBP fell back, making a fake breakout, and later rose again to a resistance level. After this movement, GBP rebounded down from the 1.2775 level to the support level and soon bounced back, but a not long time ago British Pound rebounded from the resistance level again and it trades below. For my mind, GBP will make a small movement down one more time and then continue to grow to the 1.2775 resistance level, which coincides with the top part of the consolidation. For this case, I set my target at this level. If you like my analytics you may support me with your like/comment ❤️
GBPUSD Tight consolidation. Prepare to trade the break-out.The GBPUSD pair has been trading sideways within the very tight range formed by the 1D MA50 (blue trend-line) and the top (Lower Highs trend-line) of an emerging Channel Down pattern. In fact while the 1D MA50 has been holding since January 17, the Lower Highs have since December 28, already with 3 clear rejections on them.
This technical squeeze will naturally break in the coming days and technically the way it first breaks to, that will be the dominant trend for the next 4-6 weeks. If it closes a 1D candle below the 1D MA50, before the 1D MACD forms a Bullish Cross, we will sell and target the bottom of the 1 year Channel Up at 1.2250. If it closes above Resistance 1 (1.2825) while forming a 1D MACD Bullish Cross, we will buy and target the next Resistance at 1.3150.
The reason we use the 1D MACD as a parameter is that every full Bullish Cross it made below the 0.00 barrier, was the start of very aggressive rallies. The times that failed to complete it (e.g. August 22 2023), it extended an already strong downtrend.
Notice also the relevance of the 1D Golden and Death Crosses. The last 1D Death Cross (October 17 2023) formed a market bottom and started a rise, while the 1D Golden Cross before it (January 11 2023), led to a market top and declined, both of which are the opposite of their technical expectations. Currently we are after a 1D Golden Cross (January 05 2024), so if the previous inverse correlation applies again, it should favor a bearish trend.
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Freaky Friday! Going into Monthly TransitionSo we have come to the end of the week and the news from NY session yesterday kept price from moving bullish with the structure. Ultimately price is bearish but they need to go break the highs first before flipping to bearish. Maybe that break can happen some time between now and Monday. The end of the Month is next week so I'm sure something crazy could end up happening today.
The last push before the collapse So if you been following my post I been bearish on GU pretty much all month looking for entries on a bear move. Price broke structure with GBP news today and started pushing up. Looks like they are looking to take out Highs first before going full on Bearish. So waiting for news tomorrow to see if it wants to finally confirm it wants to go bearish. So for now I'm Temporarily Bullish.
GU FAKED EVERYONE OUT WITH THIS ONE!!!! They got us good with that GBP new flipping to bullish for the session. Now looking for a break of the Monthly High before price could go bearish.
GU confirmed BearishnessWe don't have a complete breakout on the H4 Just yet but its coming. Price has moved very strong to the downside. we will be looking for further positions to continue.
GBPUSD: On the bearish threshold. Be ready to short it.GBPUSD is being rejected repeatedly at the top of the multimonth Channel Down but the 1D MA50 is still supporting it. However the squeeze has gotten to narrow and being on a neutral 1D technical setting (RSI = 50.057, MACD = 0.002, ADX = 25.323), we expect a bearish breakout soon below it. The similarities of the 1D RSI with last August, show that there is significant downside potential. We will short if we do get a 1D candle close under the 1D MA50 and target the S2 level (TP = 1.2230).
See how our prior idea has worked out:
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GBPUSD: BoS, weak GBP, strengthening USDI'm expecting a big collapse from this pair over the next few weeks.
I'm seeing a Break of Structure on the lower timeframes, with 1hr retest.
GBP data shocking and certainly indicating recession, USD not looking like a recession. Heightening global conflict could also lead to a stronger USD.
I'm going short on this pair, first target 1.255.
GBPUSD - Top-Down Analysis 📹 From Daily To H1Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 Here is a detailed update top-down analysis for #GBPUSD.
Which scenario do you think is more likely to happen? and Why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
GBPUSD | Long ideaExpecting a move up from this zone.
GBPUSD is still in an uptrend so I am will be looking for long positions.
GBPUSD | Jan 23GU longs have worked out to a T. Now looking forward for the price to break below the 1.26900 as a a confirmation for shorts. Well, the break alone wont be considered as a valid entry, but will keep you posted!
GBPUSD Top Down Analysis January 23, 2024Top-down Analysis.
In this video, we take a close look at the GBPUSD to find out where it is going. Using a top-down analysis, we have examined all possible directions of price movement in the short term and long term, respectively.
We are expecting to catch a down move that will give us a potential of 147 pips in profit if it goes our way.
EURUSD sellsEntered during London session, rejection from CE of the orderblock, targeting 1:3 RR
Trade I will hold through the day
Simple, see how it pans out
Time for some Premium price actionEverything is in place for GU to start moving bearish. At this point we wait for London session and look for all the stars to align.
GBPUSD | 21 JANGood evening, traders! My bias for short term longs towards the supply zone persists, although I feel like an H&S is forming on the Hourly and reverse might start solidifying around current price-points. Will keep you posted
Weekly Review on Price Action!This past week I flipped to Bearish on GU. But as we came into Tuesday they decided to pull back on the price. This week I'm and surely going in Bearish. This is a premium set up for a nice swing to the down side.
GBPUSD | Jan 19Looks like the pair has found solid demand zone around 1.26770 and short term long opportunities may be found. Would love to see the close before entering anything as it will also give us a closure on the weekly, which would drive the public interest. Personally got stopped out on the pullback with a 1:1 trade. Stay safe!
The Bottom is about to fall out!!!GU has been building up for this drop all week! Closely monitoring price for London open as we have GBP news just before open and USD news just before NY open. I'm thinking we should get a nice swing move to break the low that was created this week.
Sell GBPUSD Bearish Channel GBP/USD has formed a bearish channel pattern on the H1 timeframe, indicating a potential for further downside.
Pattern: The price has been making lower highs and lower lows within the channel, creating a downward sloping trend.
Sell Entry: A break below the channel support at 1.2665 could be an opportunity to enter a short trade.
Targets: Potential bearish targets lie at the support levels of 1.2558 and 1.2498.
Stop Loss: A stop loss could be placed above the channel resistance at 1.2703.
Factors Underpinning the Downward Pressure:
Risk-Off Sentiment: Global markets are facing uncertainties, driving investors to seek refuge in safe-haven currencies like the US dollar. This has put downward pressure on the relatively riskier pound sterling.
BoE Policy Divergence: The Bank of England is expected to raise interest rates at a slower pace than the US Federal Reserve, potentially widening the interest rate differential between the two economies. This could further weaken the pound against the dollar.
Trading Considerations:
Confirm Breakdown: Wait for a clear break below the lower boundary of the channel to validate the bearish momentum and potentially trigger sell trades.
Manage Risk: Implement stop-loss orders above the resistance level to limit potential losses if the price unexpectedly reverses course.
Monitor Fundamentals: Stay informed about economic data releases and central bank communications from both the UK and the US, as they can significantly influence the GBP/USD pair's trajectory.
