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Gbp-usd

GBP/USD increasing pressure as positive US economic data boostsThe GBP/USD pair finds itself under increasing pressure as positive US economic data boosts the dollar, causing it to dip below its 200-day Moving Average. With the odds of a November rate hike by the Fed standing at 32.45% and diminishing expectations of a BoE rate hike towards 6%, the GBP/USD's outlook is becoming more bearish. The Pound Sterling (GBP) has faced a second consecutive day of weakness against the US Dollar (USD) due to a series of upbeat US economic reports that have strengthened the Greenback. This shift in sentiment has increased demand for safe-haven assets, particularly the US Dollar. Friday's data revealed that Americans' inflation expectations have decreased, as indicated by the University of Michigan (UoM) poll. Inflation is projected to rise to 3.1% for a one-year period, down from August's reading, and is expected to reach 2.7% for a ten-year period. Despite this optimism, consumer sentiment declined to 67.7, falling below the forecast of 69.1. The US Federal Reserve also reported that Industrial Production expanded by 0.4% MoM, slightly below July's 1% but surpassing consensus forecasts. Furthermore, data from the New York Fed revealed that the Empire State Manufacturing Index for September improved to 1.9 from August's figure of -21, exceeding expectations of a -10 decline. Meanwhile, the money market futures remain skeptical about the possibility of the US Federal Reserve hiking rates once more before the end of the year, as indicated by the CME FedWatch Tool. For the upcoming week, the US central bank is expected to keep rates steady, with the odds of a 25 bps hike in November at a moderate 32.45% chance. Nevertheless, US Treasury bond yields have risen, driven by the latest inflation reports on both the consumer and producer sides, showing an uptick after a year of deceleration. The US 10-year Treasury Note now yields 4.326%. However, the dollar is losing some of its momentum. On the other side of the Atlantic, the Bank of England (BoE) is anticipated to raise rates by 25 bps, but it faces challenges such as a slowing economy. The Bank Rate is expected to be raised to 5.50%, but traders have scaled back previous expectations of a rate increase to 6%, with the odds for the November 2 meeting standing at around 15%. The Fed is likely to keep rates unchanged in the US, but the economy remains robust, and investors are optimistic that the US central bank will achieve a soft landing. As a result, further downside pressure is anticipated in the GBP/USD pair, with monetary policy signaling that the BoE may be the first to blink and cut rates.
Short
by FOREXN1
15
GBPUSD 10/9/23GU we have a nice counter and a trend setup here with this pair, as a whole we need to look towards our open to tell us if we can trade these moves, short term bullish, long term bearish but of course as mentioned in our earlier mark up we aren't really that clear with our corresponding pairs for example USD is looking like we might be bullish within some pairs and bearish within others, keeping this in mind at our open and within our first Monday sessions. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
GBPUSD Strongest buy signal since March.It has been almost 2 months since we last looked into the GBPUSD pair (see chart below), taking as sell position after the price was rejected on the Channel Up pattern's top: That Channel Up broke downwards, and the last such pattern to remain valid is the one shown on the current chart. The price is below the 1D MA100 (green trend-line) and today hit the bottom (Higher Lows trend-line) of the pattern. That is the exact pattern we saw on the March 08 bottom. The 1D MA50 (blue trend-line) is the short-term Resistance, which if broken, confirms the long-term bullish leg to a new Higher High. Right now this is a buy signal, targeting at least 1.3300 (below Resistance 2) on the long-term. However, if a 1D candle closes below the Channel's bottom, you can also take a short-term sell position, targeting the 1D MA200 (orange trend-line) at 1.2450. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
6
GBPUSD 2/9/23Final pair for this Sunday evening is GU now as per our other USD related pairs we can see the news range clear as day, this again is a very telling sign as to what we want price to do within this range but as always we are not going to jump in head first, and we are using the new POI as we always do with caution! Iam overall thinking we are most likely going to see a bearish shift, il only be entering with less risk and a confirmed entry point. Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
GBP/USD MIXED FEELINGSIn the past update, I mentioned that if the price goes above the 1.29818, a long position has to be taken into consideration. However, if the price breaks the 1.28215 on the downside, then it will continue to drop until the other levels that I marked at the beginning of August. For now, all the price levels have been touched. GBP/USD is trading below the 200-day moving average, which is a bearish signal. However, the price is also trading above the 50-day moving average, which is a bullish signal. This suggests that the market is currently in a state of indecision, and it is possible that the pair could break out of this range in either direction in the near term. Wait to see how the price develops in the near future before going Long or Short. My personal belief is that the price will soon start to correct on the upside, however, I will be waiting for more market evidences. From a fundamental perspective, there are a few factors that could influence the GBP/USD in the near term. First, the Bank of England is expected to raise interest rates by 25 basis points on Thursday, which could provide some support for the pound. However, the UK economy is still facing headwinds from Brexit and the war in Ukraine, so it is possible that the pound could weaken if these risks continue to weigh on sentiment. Overall, the outlook for the GBP/USD is uncertain in the near term. The pair is trading in a narrow range, and it is unclear which direction it will break out of this range. The fundamental factors are mixed, with the Bank of England rate hike being a positive for the pound, but the UK economy facing headwinds from Brexit and the war in Ukraine. The technical indicators are also mixed, with the 200-day moving average being a bearish signal, but the 50-day moving average being a bullish signal.
by YExplore
1