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GBPUSD

XAU/USD : The Next Target is $2743.7 , Why ? (READ THE CAPTION)By analyzing the gold chart in the 15-minute timeframe, we can see that the price is currently trading around the $2734 level. At the moment, the $2728 to $2730 range has become a key support zone for gold. Given that a liquidity pool has formed around the $2738.5 level and another one above $2740, I expect the price to move toward higher targets, maintaining the current support. Soon, we should see gold rise to the main target of $2743.7! Keep a close eye on how the price reacts to these levels. Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me ! Best Regards , Arman Shaban
OANDA:XAUUSDLong
by ArmanShabanTrading
74
Bearish drop?GBP/USD is rising towards the resistance level which is a pullback resistance that lines up with the 23.6% Fibonacci retracement and could drop from this level to our take profit. Entry: 1.2943 Why we like it: There is a pullback resistance level that lines up with the 23.6% Fibonacci retracement. Stop loss: 1.2999 Why we like it: There is a pullback resistance level that lines up with the 50% Fibonacci retracement. Take profit: 1.2885 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Fundamental Market Analysis for October 24, 2024 GBPUSDEvents to pay attention to today: 11:30 GMT+3. GBP - PMI Composite 22:45 GMT+3. GBP - BOE Governor Andrew Bailey Speaks GBPUSD: On Wednesday, the GBP/USD exchange rate fell by an additional 0.5%, reaching a new ten-week low and moving closer to 1.29000. The UK and US will release Purchasing Managers' Index (PMI) data on Thursday, with updates provided on a rolling basis. Investors will also be monitoring speeches from central bankers at both the Bank of England (BoE) and the Federal Reserve (Fed). The Pound declined further on Wednesday, with markets showing weakness due to a broad US Dollar recovery and investors awaiting an overall decline in the UK PMI for October. The median market forecast is for a slight downturn in UK activity figures, with the services PMI for October expected to fall to 52.2 from 52.4 in the previous month. In the US, the median market forecast is for a mixed outcome in October's PMI reading. The manufacturing PMI component is expected to rise to 47.5 from 47.3, while the services PMI component is expected to fall slightly to 55.0 from 55.2. Trading recommendation: Trading predominantly Sell orders from the current price level.
Short
by Fresh-Forexcast2004
GBPUSD H4 | Bullish RiseBased on the H4 chart analysis, we can see that the price has just bounced off our buy entry at 1.2907, which is overlap support close to 161.8% Fibonacci extension Our take profit will be at 1.2955, which is a pullback resistance level. The stop loss will be placed at 1.2871, which is a pullback support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
GBPUSD I Swing long opportunity with upcoming fundamentalsWelcome back! Let me know your thoughts in the comments! ** GBPUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
Long
by BKTradingAcademy
GBP/USD: Pound Faces Key Test Ahead BoE Governor Bailey’s SpeechToday, all eyes will be on Bank of England (BoE) Governor Andrew Bailey, who is set to speak at an event organized by the Institute of International Finance later in the day. Bailey’s remarks could prove pivotal for the Pound Sterling (GBP), especially as the market remains sensitive to signals regarding the BoE’s stance on monetary policy. Potential Impact of Bailey’s Speech If Bailey adopts a dovish tone by highlighting ongoing progress in reducing inflation and does not counter market expectations for further rate cuts this year, the Pound could face immediate selling pressure. Here’s what to watch for: Dovish Remarks: If Bailey acknowledges progress in disinflation and hints at more accommodative monetary policy, it could reinforce expectations of further rate cuts, leading to a drop in GBP. Hawkish Pushback: On the other hand, if Bailey suggests that the BoE is still vigilant about inflation risks and signals a less aggressive approach toward rate cuts, the Pound could find some support. Technical Analysis: GBP/USD Eyes Lower Demand Zones The GBP/USD pair remains under selling pressure, with our bias still tilted to the downside, consistent with our previous forecast. From a technical standpoint, the chart now features an additional mid-level demand area, where the Pound might find temporary support. Here’s how the setup is shaping up: Current Demand Zones: We have added an intermediate demand area in anticipation of a possible short-term reaction in the Pound. This zone could act as a buffer, offering a potential retracement opportunity before a possible continuation of the bearish trend. COT Report Insights: According to the latest Commitment of Traders (COT) report, retail traders remain predominantly bearish on the Pound, while institutional investors, often referred to as “smart money,” are beginning to accumulate long positions. This divergence suggests that while the broader sentiment remains bearish, there is emerging buying interest from major players, hinting at a potential reversal. DXY Overbought Condition: The US Dollar Index (DXY) remains in overbought territory, suggesting that its bullish momentum could be nearing exhaustion. This aligns with our outlook for a possible GBP retracement if the DXY experiences a pullback. Bearish Bias Maintained: Despite the potential for a short-term bounce, our overall bias remains bearish for GBP/USD. We expect the pair to continue sliding toward the lower demand area, where we will look for a more defined reversal pattern to consider a long entry. Trading Strategy: Waiting for a Long Entry Setup Given the current scenario, we maintain a bearish outlook for GBP/USD but will be closely watching the price action near the identified demand areas. Here’s our strategy: Current Position: No active positions, but we remain cautious about potential short-term volatility surrounding Bailey’s speech. Entry Plan: Should the price reach the lower demand area, we will look for a bullish reversal pattern to confirm a possible long entry. Stop Loss: Set a tight stop loss below the demand area to manage risk effectively. Target: Aim for a near-term rebound toward the intermediate resistance levels if a bullish setup materializes. Final Thoughts: Potential for Short-Term Volatility With Bailey’s speech potentially influencing the short-term direction of GBP, traders should be prepared for volatility. If the BoE Governor strikes a dovish tone, it could fuel further selling pressure on the Pound, aligning with our bearish bias. However, the overbought condition of the DXY and the building long positions by institutional traders suggest that a rebound could be on the horizon, particularly near the lower demand area. As always, it is crucial to exercise patience and wait for clear signals before entering trades, especially in a market driven by central bank communication and evolving sentiment. Stay alert for any surprises from Bailey’s speech and be ready to adapt to changing market dynamics. ✅ Please share your thoughts about GBP/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
by FOREXN1
1
BoC Rates Decision Pending22nd October DXY: Currently at 104.30, expecting further upside, needs to break 104.45 to trade up to 104.80. NZDUSD: Sell 0.6015 SL 20 TP 40 AUDUSD: Sell 0.6635 SL 20 TP 65 GBPUSD: Sell 1.2950 SL 40 TP 130 (Hesitation at 1.2880) EURUSD: Sell 1.0760 SL 30 TP 80 USDJPY: Buy 152.70 SL 30 TP 130 (hesitation at 61.8% 153.30) USDCHF: Buy 0.8710 SL 15 TP 40 USDCAD: Buy 1.3860 SL 20 TP 60 or (counter trend) Sell 1.3920 or 1.3820 (need to hear hawkish BoC) Gold: Buy on retracement, or scalp up to 2760 and 2768
TVC:DXY
by JinDao_Tai
GBPUSD Is Very Bullish! Long! Here is our detailed technical review for GBPUSD. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 1.296. Considering the today's price action, probabilities will be high to see a movement to 1.303. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
eurusd h8 buy/hold bounce setup +200 pips🔸Hello traders, let's review the 8hour chart for EURUSD today. Bears maintain control since we cracked the heavy psych level at 1.10 currently trading near 1.09 and expecting further losses before a potential bounce. 🔸Based on recent data from 2024 we had multiple 3.6% corrections before the bounces for 150-300 pips in EURUSD. specifically we had a 4% correction, 3.8% correction, 3.6% correction, 3.2% correction, 2.2% correction before strong bounces off the lows. Current correction projected to complete near 0800, this is a 3.6% correction which is typical for eurusd. 🔸Recommended strategy for EURUSD traders: focus on buying low near 0800. SL fixed at 0750 TP1 +150 pips TP2 +200 pips final. good luck traders! 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
Long
by ProjectSyndicate
24
SasanSeifi|Bearish Momentum Targets Key Support Levels! Hey there, ✌ OANDA:EURUSD In the daily timeframe, the price advanced toward the liquidity level of 1.11300 and the 1.12 price range with a significant upward trend. Following this rise, corrections occurred, and after forming a low, the price again moved towards the key 1.12 level. However, with the failure to break the previous high, a double top was formed, leading to another wave of corrections. ⏭Currently, after breaking the low at the 1.10 level, the price has retraced to 1.095. The overall outlook is bearish, with potential corrections targeting 1.086 to 1.082. If momentum weakens around the support range of 1.095 to 1.090 and a confirmation is received, the price may enter a consolidation phase, ranging between 1.10, 1.10400, and 1.10800. 🔹After this, we might see a pullback followed by further corrections. Monitoring price reactions at the first demand zone will provide better insight. However, if the selling pressure continues and the demand zone is broken, the price could target the corrective levels of 1.086 and 1.082 within the FVG and order block areas. This analysis is my personal viewpoint and not financial advice. If you found this helpful, please like and comment – I’d love to hear your thoughts! Happy trading! ✌😊
Short
by SasanSeifi
2