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Gbpshort

GBP USD up The daily chart portrays the pair as neutral to downward biased, with the GBP/USD hovering around the 200-DMA at 1.2561. a daily close below the latter could open the door to challenge 1.2500, followed by the 100-DMA at 1.2487. Once cleared, that could open the door to test the next support level seen at 1.2374, November’s 17 low. Besides that, GBP/USD takes cues from the fall in US Treasury bond yields after skyrocketing more than 12 basis points a day ago, dropping six basis points and standing at 4.26%. Interested in weekly GBPUSD forecasts? Our experts make weekly updates forecasting the next possible moves of the pound-dollar pair. Here you can find the most recent forecast by our market experts:
Short
by JohnHarry_7
GBP/USD analysisGBP/USD has broken daily extreme low due to a weekly order block therefore we can say that it is in a down trend. It has been in a consolidation period since half way through December and has finally broken out the range taking liquidity to the downside. In doing so it has left a 4H order block and a huge imbalance on the 1H timeframe. It can either go up to the order block where I would be considering sells, or it could partially fill the imbalance and then start to sell. In the meantime I will be taking buy trades on the 15m and 5m chart until it reaches the premium area of the imbalance. I hope you guys will find this helpful.
by ProjectMillionaire
1
GBP/USD Holds Below 1.2650, Signals Potential UptrendGBP/USD maintains its position below the lower boundary of the ascending regression channel, with the Relative Strength Index (RSI) exhibiting a sideways movement above the 50 level, indicating a potential uptrend in the near future. The level at 1.2780 (static level) is considered a temporary resistance before 1.2830 (the endpoint of the latest uptrend, highest point on December 28) and 1.2860 (midpoint of the ascending channel). On the flip side, support levels are situated at 1.2750 (lower limit of the ascending channel), 1.2710-1.2700 (Simple Moving Average 100 periods (SMA), static level), and 1.2670 (SMA 200 periods). The GBP/USD pair's dynamics suggest a cautious optimism, with attention focused on how the currency pair navigates the mentioned resistance and support levels. Traders will be monitoring the RSI for potential confirmation of the anticipated uptrend, while being mindful of key technical levels for potential shifts in market sentiment.
by AdmamTrade
GBP/USD Rises to 1.2800 on Weakness in the US DollarGBP/USD has rebounded and climbed above the 1.2750 level after dipping to 1.2700 earlier in the day. The US Dollar struggled to find demand in the US trading session as the latest data showed a slight slowdown in the year-on-year PPI in December. GBP/USD remains above the lower limit of the ascending regression channel, with the Relative Strength Index (RSI) moving flat above 50, indicating a potential upward trend. The level at 1.2780 (static level) is considered a temporary resistance before 1.2830 (end point of the latest upward trend, highest level on December 28) and 1.2860 (midpoint of the ascending channel). On the flip side, support levels are at 1.2750 (lower limit of the ascending channel), 1.2710-1.2700 (Simple Moving Average 100 periods, static level), and 1.2670 (Simple Moving Average 200 periods).
by AdmamTrade
It is expected that GBPUSD will increase slightly today and thenLet's talk about the pound and the dollar - they had quite a week! The pound was like a kid on a seesaw, going up and down against the dollar. Sometimes it looked like it was winning, but by the end of the week, it didn't close at the top. There was a holiday break for the markets on December 25, but the GBP/USD pair didn't rest much. There was some action because of the conflict in Gaza. That situation over there? Pretty intense. It's causing a lot of tension worldwide, and sadly, it's taking lives. That kind of stuff affects the currency market too. The US dollar had its own drama. People started thinking the Federal Reserve might drop interest rates, and that made the dollar less appealing. Traders got excited, thinking it could mean smoother sailing for the global economy. But then, things got a bit wobbly for the pound against the dollar. You see, the pound hit a high note at the start of Thursday but quickly lost that vibe and went back to where it started on Wednesday. Why? Well, there's a fear of high prices and a possible economic slump, which got worse because people weren't sure what the Bank of England was planning. Then, last Friday, the pound was all over the place. The news about house prices dropping more than expected probably made things more jumpy. But there were some positive things happening elsewhere that kept the pound from totally crashing. The US dollar? Well, it was a mixed bag. Some folks were willing to take risks, so it faced some challenges at different exchange rates.
Long
by carefulLion07pab
"GBP/USD Forecasted to Reach 1.3500 in 2024"In a recent note, the global FX head at Goldman Sachs has indicated that GBP/USD is poised to extend its upward momentum to reach 1.3500 in the coming year. Citing correlations with stocks and alleviated concerns about global recession, GBP exhibits a "positive and reliable relationship with higher stock prices." The recent strength of the British pound is attributed, in part, to the broad weakening of the U.S. dollar. However, since early November, the pound has also demonstrated strength based on trade-weighted fundamentals, performing exceptionally well in a moderately volatile interest rate environment and amid rising stock prices. The outlook since November has been promising, and expectations are for further gains in the upcoming year. This is why Goldman Sachs believes that the British pound has considerable room for appreciation as the market embraces the 'soft landing' perspective. Upcoming elections are likely to encourage additional fiscal support while easing trade tensions with the EU. Both factors are expected to contribute to domestic growth, mitigating the risk of a recession and bolstering the British pound. As we anticipate the unfolding of 2024, the projections for GBP/USD remain optimistic, driven by a combination of global economic dynamics, domestic factors, and a supportive political landscape. Investors and traders alike will be closely watching these developments as they navigate the foreign exchange market in the coming year.
by AdmamTrade
"GBP/USD Forecasted to Rise to 1.3500 in 2024"In a recent update, the global FX head at Goldman Sachs has predicted that GBP/USD is poised to extend its upward momentum to reach 1.3500 next year. Citing correlations with stocks and easing concerns about global recession, Goldman Sachs notes that GBP has a "reliable positive relationship with higher stock prices." The recent surge in the British pound is partly attributed to the broad weakness of the US dollar. Since early November, the pound has also strengthened based on trade-weighted grounds, showcasing resilience in an environment of moderate interest rate volatility and rising stock prices. Goldman Sachs anticipates more of the same in the coming year, asserting that the British pound has ample room for appreciation as the market embraces the notion of a "soft landing." The upcoming elections are likely to both encourage additional fiscal support and alleviate some trade conflicts with the EU. Both outcomes are expected to bolster domestic growth, mitigate the risk of recession, and further support the British pound. As we approach 2024, the forecast for GBP/USD looks optimistic, driven by a combination of global economic factors and domestic political developments. Investors will be keenly observing the unfolding dynamics in the currency markets as the British pound aims for new heights against the US dollar.
by Larissa-Trader
GBPUSD strategy today will drop sharplyThe dollar fell sharply on Thursday and is on track for an annual decline after two years of strong gains as expectations of an interest rate cut from the Federal Reserve next year are holding back markets. As the year comes to a close, thin liquidity and limited volatility are predicted until the new year. The dollar index, a measure of the US currency against six rivals, fell to a new five-month low of 100.81. The index fell 0.5% on Wednesday and is on track to fall 2.6% this year, shedding two straight years of strong gains. According to the CME FedWatch tool, investors remain focused on the timing of a Fed rate cut, with the market pricing in an 89% chance of a cut by March 2024. Futures imply up to 158 basis points about the Fed easing next year.
Short
by NicoTradingMaster
GBP/USD Resilient Above 1.2800 Amidst Dollar WeaknessGBP/USD saw a slight uptick above 1.2800 in early European trading on Thursday, supported by the prolonged weakness of the US Dollar due to bets on the Fed's dovish stance. US unemployment benefit claims data was released in a relatively quiet market. The currency pair, currently trading just above 1.2700, may find technical buyer interest if it confirms this level as support. In such a case, 1.2750 and 1.2790-1.2800 serve as potential resistance levels. Failure to hold above 1.2700 could prompt support at 1.2660 (50-period SMA), 1.2630 (100-period SMA), and 1.2600 (23.6% Fibonacci retracement). GBP/USD, influenced by broad USD selling pressure on Thursday, sought to recover losses, maintaining stability around 1.2700 as the market assessed the latest UK data on Friday.
by Larissa-Trader
USD Volatility on Fed Rate Cut SpeculationThe US dollar grapples with challenges in gaining traction globally, impacted by recent indications of cooling inflation in the US. This trend raises expectations of a potential Federal Reserve interest rate cut in the coming year. In thin holiday trading, major currencies remain stable, with the yen holding near yearly highs, supported by expectations of the Bank of Japan shifting away from ultra-loose monetary policies. Key Points: Declining US inflation in November fuels expectations of a 2024 Fed rate cut, diminishing USD appeal. BOJ Governor Ueda's comments on rising inflation stir speculation of policy changes, boosting the yen. Global risk sentiment and broader economic trends may influence currency markets in the weeks ahead. Looking Ahead: USD fate depends on upcoming inflation data and Fed rhetoric in the new year. Yen direction hinges on BOJ actions and hints regarding policy normalization. Global risk sentiment will likely impact currency markets in the coming weeks.
by Larissa-Trader