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GBPPLN

Analysis of GBPPLN Currency Pair for comming weeks Current Price and Recent Movements Today, we are analyzing the GBP/PLN currency pair. Currently, the price is at 5.13 PLN for 1 GBP on the weekly chart. The price has declined from a high of 5.20 last week. We anticipate one more upward move towards the resistance line at 5.25, a level that previously served as a high in April 2020 and as multiple supports from where the price bounced. This makes 5.25 a strong resistance, as broken support often turns into resistance. Resistance Levels and Market Expectations Additionally, at 5.27, there is a crossover of a previous support line that was broken, alongside a downtrend line crossover. This aligns with the expectation that the National Bank of Poland (NBP) will hold rates slightly longer, while the Bank of England (BOE) is expected to cut rates this year. A rate cut expected from the Federal Reserve (FED) and a recent European Central Bank (ECB) rate cut mean PLN could have better returns. Furthermore, peace talks between Ukraine and Russia could fuel PLN as investors might move into less secure currencies with higher interest rates. Economic Indicators Poland's GDP for Q1 2024 rose by 0.5%, surpassing the forecast of 0.4%. Although the UK also experienced above-forecast GDP growth, uncertainty around the UK elections has a more significant impact on the currency. The UK's private debt to GDP is at 160%, compared to Poland's 102%, which is significantly higher. Poland is raising its minimum wage twice a year, compared to the UK's once a year. The rapid growth in Poland's minimum wage fuels inflation, prompting the NBP to potentially raise rates again. In Q3 2023, the minimum wage in Poland was 811 euros (700 pounds), and by Q1 it rose by 20% to 977 euros (838 pounds). The next increase, expected in July, is projected to be around 2%, which will likely impact inflation as people have more money to spend. Mid- to Long-Term Outlook My mid- to long-term outlook for GBP/PLN is bearish, with an expectation that the price will decline towards the multi-year support at 4.60 PLN for 1 GBP. Disclaimer This analysis is for educational purposes only and should not be treated as a trading recommendation. It represents my view and anticipation of the market. Everyone should conduct their own analysis or seek advice from a financial advisor if considering an investment. This is not a trading recommendation, only a personal overview of this currency pair.
Short
by Coder775
2
GBPPLN Sideways Trading Strategy! 📈 GBPPLN Sideways Trading Strategy! 📉 #GBPPLN #Forex #TradingStrategy #TechnicalAnalysis #SidewaysMarket Greetings, fellow traders! 📊 Today, I'd like to share an exciting trading opportunity in the GBPPLN currency pair. The 1-hour chart indicates a sideways market, with no clear bearish or bullish trend. To take advantage of this situation, I have devised two trade plans using buy stop and sell stop orders, carefully aligning them with key support and resistance levels. 📉 Trade Plan 1 - Sell Stop 📉 🎯 Entry: At S2 - 5.1269 🛡️ Stop Loss: Above S1 - 5.13625 🎯 Take Profit: 1:1 at 5.11755 This plan aims to capitalize on potential downside movement within the current sideways range. The sell stop entry at S2 suggests a bearish continuation, while the stop loss above S1 acts as a safety barrier in case of a potential reversal. The take profit level of 5.11755 offers a balanced target within the range. 📈 Trade Plan 2 - Buy Stop 📈 🎯 Entry: At R2 - 5.18320 🛡️ Stop Loss: Below R1 - 5.17620 🎯 Take Profit: 1:1 at 5.19055 In this plan, we are seeking to profit from a potential breakout to the upside. The buy stop entry at R2 implies a bullish continuation, while the stop loss below R1 safeguards against a potential pullback. The take profit level of 5.19055 provides a balanced reward-to-risk ratio within the range. As always, it's crucial to remember that trading in a sideways market comes with inherent risks. Proper risk management is essential, and I advise not risking more than you can afford to lose. Good luck! 🍀 Happy trading! 📈💹
by T-Q
GBP/USD: The weakness of the US dollar fuels the British poundToday GBP/USD continued Friday's rally and hit its highest level in 5 weeks at 1.2250.As investors reassess the possibility of the US Federal Reserve keeping policy interest rates unchanged at its upcoming meeting, the broad weakness of the US dollar helps GBP/USD maintain its advantage. Risk sentiment dominated the market in early Asian trading hours as the market reacted to the news that UBS Group agreed to acquire Credit Suisse Group.More importantly, the Federal Reserve has resumed daily swaps with the Bank of Canada (BoC), the Bank of Japan (BoJ), the Swiss National Bank (SNB), and the European Central Bank (ECB) to provide additional liquidity when needed. The positive impact of these developments on market sentiment is still short-lived.The sharp decline in U.S. Treasury yields shows that investors are repricing the Fed's policy outlook.According to CME Group's FedWatch tool, the probability of the Fed raising interest rates by 25 basis points on Wednesday has fallen to less than 50%. The British FTSE 100 index fell more than 1% at the beginning of the session, and U.S. stock index futures fell 0.4% to 0.8%, reflecting a risk-averse atmosphere. Nevertheless, in the current environment, the dollar seems to have lost its attractiveness as a safe harbor.As investors become more and more worried about the deepening of the global financial crisis, they avoid betting on the Fed's active policy tightening, which will lead to a weakening of the dollar, which will lead to a strengthening of GBP/USD. In the trend of GBP/USD, the effectiveness of breaking through the downward channel has been established, and a new upward trend is being re-established. In order to determine the effectiveness of the uptrend channel, GBP/USD will also step back in the short term while maintaining a good upward trend.While GBP/USD maintains its advantage, the effectiveness of the support at the top and bottom conversion position of the 1.220 line below can be determined. Therefore, the current support below is at the 1.220 line, while the initial resistance above is at the 1.227 position, and the strong resistance is at the 1.230 position. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
Long
by Short-term-king
2
GBP/USD:The pound was blocked, and the bears reacted strongly?The latest data from the United Kingdom show that the number of people employed in the British labor market has increased by 65,000, higher than the expected 52,000, and the unemployment rate remains at 3.7%.But the pace of wage growth has slowed, which is good news for the Bank of England.Because the central bank is seeking to control inflation, this is another factor to be considered at next week's interest rate meeting.On a global scale, the market turmoil after the collapse of Silicon Valley Bank has led to huge changes in the market's pricing of the central bank's interest rate outlook in the past few trading days.According to CME's Fedwatch tool, there is now a 25% chance that the Fed will keep interest rates unchanged at its next meeting.Even the market has begun to digest the expectation that the Fed will turn to interest rate cuts at the end of the year.Under this situation, the pressure on the Bank of England to raise interest rates may be eased, which will be of great help to resolve the British government's debt.In terms of interest spreads, the British pound will not be pulled too wide by other currencies.As a result, the pound may be able to gain some support from it. Due to the rebound of the British pound for four consecutive trading days, it has left the original downward trend channel. However, over time, the market fear caused by the US banking crisis has gradually eased. Today, the dollar index stopped falling and rebounded sharply, suppressing the rise of the British pound and driving the British pound to begin to adjust the market. At present, the British pound has the intention of returning to the downward trend channel.However, if the 1.201 position can be supported, it is possible to carry out a short-term restorative rebound on this basis. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me.
Long
by Short-term-king
13
Where is the profit potential for GBP/USD? GBP/USD: The daily chart is sideways with a weak bullish bias, but the 4-hour chart is suppressed at the upper boundary, so the cycles are not resonating and the amplitude cannot emerge. Therefore, this low-frequency market appears. Regardless of how it operates, traders should take advantage of the fact that the daily chart temporarily does not support a sharp decline and the 4-hour chart does not support a non-major rise, so range trading should be adopted. The lower limit is locked at 1.1965-40, and the upper limit is locked at 1.2110 resistance. Traders can repeatedly trade within this range. Trading is for profitable purposes, not for venting frustration or simply for the sake of trading. Therefore, traders must understand what stage the price is in and take corresponding actions. Traders are not always bullish or always bearish, but they always adapt to changes in the market. Traders must have their own defense systems to control risk. Risk control and fund management must be present in your trading.
Long
by Ice_and_Fire1
Moving to Poland from GB - When to swap? Outlook could be both positive and negative (NEUTRAL), pricing shows now is not a bad time to convert GBP to PLN as we are at a neutral position in the market. Scenario 1 - It could break higher but has some tough resistance to break through first, including breaking out of its current range Scenario 2 - It could bounce back lower, keeping in its current expanding range and heading back down to the lower support trend line Not financial advice!
by NFVeej
1
BRITISH POUND / POLISH ZLOTY (GBPPLN) Monthly, Weekly & DailyDates in the future with the greatest probability for a price high or price low. The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will miss its prediction date by one candlestick. If multiple Djinn prediction dates are missed and are plowed through by same color Henikin Ashi candles the asset is being "reset". The "reset" is complete when Henikin Ashi candles are back in sync with Djinn price high or low prediction dates. One way the Djinn Indicator is used to enter and exit trades: For best results trade in the direction of the trend. The Linear Regression channel is used to determine trend direction. The Linear Regression is set at 2 -2 30. When a green Henikin Ashi candle intersects with the linear regression upper deviation line (green line) and both indicators intersect with a Djinn prediction date a sell is triggered. When a red Henikin Ashi candle intersects with the linear regression lower deviation line (red line) and both indicators intersect with a Djinn prediction date a buy is triggered. This trading strategy works on daily, weekly and Monthly Djinn Predictive charts. Trades made when the monthly, weekly and daily arrows are pointing in the same direction are the most profitable. This is not trading advice. Trade at your own risk.
by Dinjin