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Gbp-usd

GBPUSD Potential Long Forecast | 13th March 2023Fundamental Backdrop 1. DXY continues to weaken 2. The Claimant Count Change is expected to be better than previous, strengthening GBP. 3. Also do watch out for the Annual Budget Release on Wednesday which will add significant volatility to the market. Technical Confluences 1. Price bounced off key support level at 1.18700 2. Near-term minor resistance at 1.21300 3. Price broke above the descending trend-line and above the Ichimoku cloud indicating a bullish market structure shift. Idea Expecting price to continue bullish towards the resistance at 1.22700. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Long
by OlympusLab
3
GBPUSD Potential Retrace to upsides but still at CPI Risk.Hey Traders, GBPUSD was trading in a downtrend and successfully managed to break it out after NFP news. and now in a correction phase. in tomorrow's trading session i would be watching a potential retrace of the trend around 1.20300 supply and demand zone. keeping in consideration the CPI data of Tuesday if it comes above expectations the plan will be cancelled and we will be switching into shorts as high CPI numbers signals more massive rates hike and more of a hawkish monetary policy. Trade safe, Joe.
Long
by JoeChampion
4
Gu could see some downside if h1 turns downGu and the likes of AU and NU looks weak to me. So, if USD came out stronger next week I will prefer looking to short them than EU. **Find out more from my Tradingview Stream this week** *************************************************************************************** Hello there! If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏 And if you would like to show further support for me, you can gift me some coins on tradingview! 😁 Thank you! Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared. Thank you, and please do your due diligence before any putting on any trades!
Short
by Shadowing_The_Big_Boys
GBPUSD:Potential short term upsidesHey Traders, i expect some short term weakness of the Dollar and short term uncertainty in DXY prior to tomorrow's NFP. so i think for today USD we will have some short term downsides as traders are taking profits on their dollar long for the sense of accomplishments and now waiting for NFP release to have an insight of what fed next move will be. looking at smaller timeframes we will notice that GBPUSD is trading in an uptrend so if we get any pullbacks i will be watching the price action around 1.185 zone. Trade safe, Joe.
Long
by JoeChampion
21
GBPUSD Outlook 9th March 2023Unfortunately, for the GBPUSD, it looks like unmitigated downside potential due to the recent strength of the DXY. On Wednesday, the GBPUSD reversed strongly from the resistance area of 1.2050 and saw a significant move to the downside. Breaking past 1.19 to reach a low of 1.18, the GBPUSD currently trades and consolidates along the 1.1842 price level (last tested in January 2023). While a brief retracement to the upside could be likely, the GBPUSD is more likely to continue with the downtrend to test the next key support level of 1.1766. However, watch out for a potential hurdle at the round number level of 1.18.
Short
by JinDao_Tai
GBPUSD - Now we wait... GBPUSD - Now we wait... GBPUSD within the ranges Highs: 1.22480 Lows: 1.18530 Keep in mind: we had BOE'S BAILEY: CAUTION AGAINST SAYING WE'RE DONE ON RATES & Let's not forget we aren't done with 'Brexit' as that tension tightens as per usual we saw EURGBP escalate higher whilst GBP we are within these ranges until prices give us clear direction. Technical view - It's very clear levels when it comes to price and we could even say there's pattern formed Highs: 1.22480 Lows: 1.18530 A break of highs, take us back to 1.24000 areas A break of lows, take us back to 1.17000 areas Don't forget to add alerts & stick to your own trade plan. Have a great day ahead, Trade Journal
by Trade_Journal
GBPUSD Important zones to watchHey Traders, above is a technical overview on GBPUSD and the most important zones to watch, we have noticed a structure approaching the major up trend so i will be considering the support at 1.09300, if we manage to get a break above the triangle then we will consider the retrace of the breakout at 1.20100. i would also warn traders to keep an eye on the upcoming events including fed speech, NFP on Friday and next week CPI data. Trade safe, Joe.
Long
by JoeChampion
16
GBP/USD expected to trade within 1.1925-1.2120 – UOBAccording to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, GBP/USD is expected to trade between 1.1925 and 1.2120 in the short-term horizon. Key Quotes 24-hour view: “Our expectations for GBP to weaken further were incorrect as it rebounded to a high of 1.2049. While upward momentum has not improved much with the rebound, GBP could edge higher to 1.2070. The next resistance at 1.2120 is not expected to come under threat. On the downside, a breach of 1.1985 (minor support is at 1.2005) would indicate that the current mild upward pressure has eased.” Next 1-3 weeks: “Last Friday (03 Mar, spot at 1.1985), we indicated that while downward momentum is beginning to build, GBP has to break 1.1900 before a sustained decline is likely. We added, ‘the chance of GBP breaking 1.1900 will remain intact as long as 1.2045 is not breached within the next few days’. GBP rose to a high of 1.2049 in NY trade. The breach of our ‘strong resistance’ indicates that downward momentum has faded. To look at it another way, instead of heading lower, GBP is likely to continue to consolidate, expected to be between 1.1925 and 1.2120.”
Short
by FOREXN1
7
GBPUSD | TO GO SHORT?GBPUSD TO FALL? With British Economy in a complete state and US Dollar gaining so much power due to recent Inflation values and quantitative tightening, its hard to see how GBP would fair to gain much more than it already has. We could see a further swing low as we form the M pattern (DOUBLE TOP) commonly seen as an indication of reversal. Time will tell but we firmly believe this could happen. We will be reactive and not predictive and wait for a retest of our zone once we are refused from the high. This trade will be invalid if we see no refusal or further break to the upside.
Short
by ElitePowerTrades
8
GBPUSD on a triple bottom 🦐The triple bottom pattern is a bullish reversal pattern that forms after an extended downtrend. It is characterized by three consecutive troughs that are at approximately the same price level, separated by two minor peaks. The pattern is complete when the price breaks above the resistance level formed by the minor peaks, indicating a possible trend reversal. Now, let's apply this pattern to the 4-hour chart for GBP/USD. We can see that the currency pair has been in a downtrend since the beginning of the year, with prices making lower lows and lower highs. However, in recent weeks, the price action has formed a triple bottom pattern with three distinct lows. The first confirmation of a potential trend reversal would be a break above the resistance level formed by the minor peaks at around 1.20700. This level has acted as a significant barrier to further price advances in recent weeks, but a break above this level would signal that buyers are gaining control and that the currency pair is likely to continue its bullish momentum. We can also look for an increase in volume as the price breaks above the resistance level, as this would confirm that buyers are entering the market and pushing prices higher. Therefore, based on the triple bottom pattern and a potential break above the resistance level, the GBP/USD currency pair is looking bullish on the 4-hour chart. Traders can look for confirmations to set a nice buy order, such as a break above the resistance level and wait for the Plancton's strategy to the satsfied.
by InkyGrip
10
GBPUSD Outlook 6th March 2023The GBPUSD completes the downward move following the formation of the Head and Shoulder pattern. As the price test and failed to break below the 1.1920 price area, the GBPUSD has rebound strongly to the upside, above the 1.20 level, and could approach the resistance level of 1.2070. Currently consolidating along the 1.2040 price level, look for further DXY weakness to take the GBPUSD higher. However, a more prudent trade would be to wait for the price to break above the immediate resistance level first. Beyond 1.2070, the next key resistance level is at 1.2150.
Long
by JinDao_Tai
1
GBPUSD Potential Continuation to the upsidesHey Traders, in tomorrow's trading session we are monitoring GBPUSD for a buying opportunity around 1.195 zone, GBPUSD is one of the trades i'm watching to buy as DXY shows some downwards. i still expect the Dollar to be indecisive until CPI release so we can have more of a clear vision about next Fed move. Technically i will watch some pullbacks extensions toward the major trend. feel free to ask your questions in the comment section. Trade safe, Joe.
Long
by JoeChampion
14
GBPUSD Outlook 2nd March 2023The GBPUSD failed to trade higher despite a strong upward move early in the trading session yesterday. The price climbed strongly to reach the 1.2080 price level but reversed strongly lower again as the DXY recovered in strength. A skewed head and shoulder pattern was also formed, which could indicate further downside momentum. Currently, as the GBPUSD trades below the round number price level of 1.20, a continuation to the downside can be anticipated, especially if the price breaks back under the bearish trendline. However, moves to the downside could be limited with the support level at the 1.1920 key support level.
Short
by JinDao_Tai
8
GBP/USD: SELL Signal and Price Drop...he GBP/USD pair is facing downward pressure, with bears attacking the 1.2000 psychological level over the past three days. Brexit-related challenges and a rally in US Treasury bond yields are contributing to the decline, although there is limited action in the market ahead of the London open on Thursday. The Telegraph reported that the Democratic Unionist Party is dissatisfied with parts of the EU-UK departure terms over the Northern Ireland Protocol, while a Financial Times survey found that two-thirds of UK businesses believe government plans to disentangle British and EU law will cause more uncertainty and not increase economic growth. Bank of England Governor Andrew Bailey's neutral comments contrast with the hawkish remarks from Minneapolis Federal Reserve President Neel Kashkari, and the UK S&P/CIPS Manufacturing PMI data was downbeat compared to the upbeat details of the US ISM Manufacturing PMI. Additionally, inflation concerns and fading optimism over China's economic growth, as well as Sino-American tensions, are also putting downward pressure on the GBP/USD pair. US Treasury bond yields rose, reflecting market fears and weighing on S&P 500 Futures. The US Dollar Index (DXY) bounced off a one-week low to 104.60, up 0.17% intraday, amid a risk-off mood and firmer yields. With a light calendar, GBP/USD moves may be restricted and could remain southwards before Friday's key US ISM Services PMI and final readings of the UK S&P Global/CIPS Services PMI for February.
Short
by FOREXN1
10
GBPUSD Potential Forecast | 1st March 2023Fundamental Backdrop 1. Inflation for the GBP continues to be very high. 2. Pessimistic outlook on the economy for GBP as upcoming GDP m/m is widely forecasted to be printed negative, showing the recessionary phase the economy is in. Technical Confluences 1. The overall bias for GBPUSD is bearish and price can retest the daily support level at 1.186. 2. Price has been on a bearish trend for GBPUSD and is forming lower lows and lower highs as seen by the red highlights signifying the highs and lows. 3. Price rejected off the H4 resistance level at 1.213 and has seen continued bearish. Idea I will be looking for price to possibly retest the support at 1.186. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Short
by OlympusLab
GBPUSD Outlook 1st March 2023The GBPUSD surged strongly to the upside overnight as the price bounced off the previous bearish trend line, rising to retest the 1.2150 price area and resistance level. This move higher was due to the weakness in the DXY following the release of weaker than expected consumer confidence data and the agreement of the deal, resolving the issue along the Northern Ireland border which arose from Brexit. With Brexit no longer an uncertainty for the UK, the GBPUSD could see relatively limited moves to the downside. Early in the trading session today, the GBPUSD again bounced from the 1.20 price level and current price action suggests the potential for further upside. Look for the GBPUSD to retest the 1.2150 resistance level, and beyond that the 1.2220 previous swing high from February 15th.
Long
by JinDao_Tai
15
GBPUSD Aiming at the Rectangle's top. Buy signal.The GBPUSD pair eventually broke below the Channel Up, since our previous idea at the start of the month, hit the 1D MA200 (orange trend-line) and rebounded: This has created a ranged trading action inside a +2 month Rectangle. The price is now trapped within the 1D MA50 (blue trend-line0 and 1D MA200 and if it closes above the 1D MA50, it will target the 1.2455 Resistance (and Double Top so far). The 1D RSI is trading inside a Channel Down whose Lows and Highs match the ideal entries on the Rectangle, so currently this is an ideal buy spot. If the 1.2455 Resistance breaks, we will target the 1.2675 Resistance (May 27 2022 High). ------------------------------------------------------------------------------- ** 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
3