GBPUSD's strong returnGBP/USD is currently trying to settle above the resistance at 1.2180 – 1.2200 as traders bet that Fed will not raise rates again this year.
In case this attempt is successful, GBP/USD will head towards the next significant resistance at 1.2370 – 1.2410, although it may also face resistance near the 1.2300 level.
Gbplong
GBPUSD after falling will increase againGBPUSD was last trading over 0.2% higher at $1.2202.
Investors also digested producer and consumer prices data out of China on Friday that showed deflationary pressures were slightly stronger than expected.
"What we've got is a fairly weak growth story (from China), and that's weighing on the price numbers," said Rob Carnell, regional head of research in the Asia-Pacific region at ING.
He added that the government could feel pressure to offer further support to the economy, albeit limited.
Bloomberg News reported earlier in the week that China is considering raising its budget deficit for 2023 as the government prepares to unleash a new round of stimulus to help the economy meet the official growth target.
China's trade data for September, meanwhile, showed exports and imports both shrank at a slower pace for a second month, providing some encouragement to authorities.
GBPUSD 4H : support further rise GBPUSD
New forecast
The price perfectly fulfills my last idea and price reached to our first target + 80 pip .
The British pound against the dollar pair succeeded in touching our expected target at 1.2310, and attempts are being made to penetrate it now, to support the chances of extending the bullish corrective wave and heading towards achieving additional gains up to 1.2370.
Therefore, we will continue to favor the upward trend for the coming period, keeping in mind that failure to breach 1.2310 and rebound downwards to break 1.2247 will stop the expected rise and put pressure on the price to return to the main bearish path again.
The expect range trading for today it will be between the resistance line 1.2310 and support line 1.2247.
Additionally ,Today News will affect the market .
support line : 1.2267 , 1.2247
resistance line : 1.2310 , 1.2370
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GBPUSD 4H OUTLOOKGBPUSD
Analyze
If a price can stable above 1.2281 the direction will be uptrend again to reach 1.2336 , 1.2372, 1.2403
For any reason if the price backs off and stable under 1.2281 , the price will try to reach 1.2247 If can break it then will reach 1.2202and 1.2164
Support line:1.2247 ,1.2202,1.2164
resistance line: 1.2336 ,1.2372,1.2403
GBPUSD Long idea for the coming weeksLooking on the charts, im going to aim for a long position on GBPUSD.
On the 4hour chart, previous wicks rejecting more downside as it looks.
Also we are in a nice orderblock area and resistance area
Going for a buy limit around 1.25785
Stoploss: 1.25451 (just below the last longest 4h previous wick)
TP1: 1.27089
TP2: 1.28650
TP3: 1.29090
If it would fall below that 4h long wick(which is touching the bottom of the purple zone) then im not interested anymore in a long position.
GBPUSD sidewise moving in a rangeGBPUSD is sideways moving in a range
The GBPUSD traps the price and will move from 1.2780 to 1.2620 from August 1 to date.
The US Dollar gained in the last few days, so the GBP index is also in a strong position. The possible positions will be buying and the market will respect to its demand Zone and go ahead to touch 1.278
The possible trading setup is as follows:
Entry Point: 1.2639-1.2618
Stop Loss: 1.2590
Take Profit: 1.2800
The setup is valid if we can see some indications, a rejection candle at the support zone and a confirmation candle in H1 or M30.
GBPUSD EXHAUSTED LONG NOW READY 250 PIPS SHORTGU is was on a brief retracement with some pips drop but now paving a way a massive BEARISH MOVES that may drop about 250 pips for bearish traders
According to DANCOLNATION CAPITAL TRADING STRATEGY, We shall be swinging the movement and day trading with TPs at every drop of 50 pips at a psychological levels
GBPUSD 08/07-11 WKLY OUTLOOKBLACKBULL:GBPUSD
Time Frame H1
- Price is at a H1 - OB
- Looking for price to fill FVG that was created by NFP
Outlook 👁️🗨️
Have ours eyes set out price to retrace back into a discounted PDA
1.2713-1.2728
how the zone was created, with the fib tool (most recent swing high to swing low)
GBP analysis The pound has different conditions compared to gold and the euro. I don't think we will see a new bottom. Because the pound is still in an upward trend and we have not seen a structural failure and we are still in an upward trend in a higher time frame. unless the red block order, which is the last floor, is broken and the price is below this block close order. So we can look for the right range for buying positions in lower time frames.
GBPNZD - Is The GBP Strength Coming To An End?Analysis:
Bullish Confluences
In an upwards trend
Retest of a key level
50% fib retracement touch
Upwards trendline touch
GBP is the 2nd strongest major currency whereas the NZD is the 5th strongest major currency
25K short position decrease for the GBP
Bearish Confluences
30K long position decrease for the GBP
3K short position decrease for the NZD
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
GBPAUD - Will The AUD Continue To Be Bearish?Analysis:
Bullish Confluences
In an upwards trend
Break & retest of a previous area of resistance for support
38.2% fib retracement level present
Upwards trendline present
GBP is the second strongest major currency where as the AUD is the 7th strongest major currency
25K short positions decrease for the GBP
2K short position increase for the AUD
Bearish Confluences
30K long position decrease for the GBP
1K long position increase for the AUD
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
GBPAUD - Will We See This Pair Rise After CPI?Analysis:
*THIS SETUP WAS SHARED IN OUR VIP GROUP YESTERDAY*
Strong upwards trend (bullish confluence factor)
Retest of a key level (bullish confluence factor)
50% fib retracement level touch (bullish confluence factor)
Upwards trendline touch (bullish confluence factor)
GBP 2nd strongest major currency (bullish confluence factor)
AUD 3rd weakest major currency (bullish confluence factor)
24K long position increase for the GBP (bullish confluence factor)
5K long position decrease for the AUD (bullish confluence factor)
Comment:
We have a strong reasons to be bullish on this pair, hence why we are. The CPI figures coming out for the AUD could give us the catalyst we need for this pair to head higher.
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you!
Stay Safe - The JPI Team
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
GBPNZD - A Breakout Of The Range?Analysis:
Taking a look at the charts we can see that price looks slightly choppy and like we're stuck in a range, however a trade has setup that is in accordance to our plan so we're taking it. Although price is in a range we can see that price is still heading to the upside slightly. We also have an upwards trendline which confirms that we are actually in an upwards trend. This means that we're only looking for long positions. We had some news that came out for the GBP this morning which was slightly negative causing an overreaction and price pulled back to an area that we're interested in. Whilst this news was negative we don't see this news event as that important and we also have a lot of other confluences pointing to bullishness so we don't really care about this small thing going against our idea. Whilst the area that we have marked out might not seem like an obvious level, to us it looks like a great place to enter at. We've seen this level hold in the past so we expect that it could hold again making it a possible support level, however this isn't the main reason why we like this level. The driving factor for why we have this area that we marked out is because of the added confluences which are lining up with. Firstly we have the 50% fib retracement level which we expect buyers to be sat at wanting to push price higher meaning that this favours our bullish thesis. Another confluence that we have is the upwards trendline. When we've seen this trendline be touched before we've seen it be respected and price has then made a move to the upside. Trading is all about history and patterns as they repeat themselves, so if this has happened in the past then its likely that this will happen again giving us another reason to be bullish especially from this area. The final technical confluence we have is the candle that we saw on Friday. We saw strong bullish momentum and we were expecting this to continue this week however after the news came out, price dropped back to our area of interest. Like we've said already we think that this is an overreaction so we expect to see the bulls step in again and push price higher, going in favour of our bullish thesis. Fundamentally as well the GBP is the 2nd strongest major currency whereas the NZD is the 5th strongest major currency so this massively goes in favour of bullishness on this pair. Taking a look at the COT data as well we saw an increase of 18K short positions and an increase of 24K long positions on the GBP, which is bullish, again favouring the long side. For the NZD however this is the opposite. We saw a decrease of 100 long positions and an increase of 2K short positions, indicating possible bearishness for the NZD, which goes in favour of our overall bullish thesis. We have the fundamentals pointing to bullishness and we have a strong place to enter from which is why we are bullish on this pair and expect to see a continuation to the upside.
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you!
Stay Safe - The JPI Team
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.