Get started

Gbpusd_forecast

Gbpusd Next Confirm Target 🎯GBP/USD gathered bullish momentum and registered gains on Wednesday after dropping below 1.2100 earlier in the day. The pair continued to stretch higher toward 1.2200 on Thursday but lost its traction, with investors refraining from taking large positions ahead of the Bank of England's (BoE) monetary policy announcements. The Federal Reserve held the policy rate steady at 5.25%-5.5% as widely expected on Wednesday. Fed Chairman Jerome Powell did not rule out another rate hike in December but failed to convince markets. The benchmark 10-year US Treasury bond yield fell nearly 4% on the day and the US Dollar (USD) weakened against its major rivals, allowing GBP/USD to turn north.
Short
by FxAlena
GBP/USD Consolidates Below 1.2200GBP/USD has entered a consolidation phase after testing the resistance at 1.2200. The upward momentum of the British Pound seems to pause, preparing for the Bank of England (BoE) policy announcement on 'Super Thursday.' The Relative Strength Index (RSI) on the 4-hour chart remains near 50, indicating indecision in GBP/USD. The 100-period Simple Moving Average (SMA) forms immediate resistance at 1.2175, followed by 1.2200 (23.6% Fibonacci retracement level of the latest downtrend, SMA 200). A close above this level in the 4-hour timeframe could attract technical buyers and pave the way for an extended recovery towards 1.2260 (psychological level). On the flip side, the initial support lies at 1.2100 (psychological, static level) followed by 1.2050 (recent downtrend low) and 1.2000 (psychological, static level).
by Gwen_Humuna
GBPUSD to Possibly Fall of A Cliff (SELL OPPORTUNITY)Hey guys, what's up Brandon here - So I just entered a sell on this pair (GBPUSD) and I briefly Breakdown as to why I took it If we look at the details - everything aligns with sells nicely as the momentum is bearish on almost all timeframes with only 1 or 2 suggesting buys Now on the few timeframes that may be suggesting buys we have to take into consideration that that could be an induction to buy because GU is a bearish market - and my question is why oh why?....Would you want to buy in a bear market I don't think this ever makes sense because in essence what you are really doing is - believe it or not...CALLING A BOTTOM And why would you call a bottom when the market is dropping? I'll take my chances with the sell - I'm prepared to lose as that is one of the things that just comes with the territory so it is what it is Let me know what you guys think
Short
by Brandon_evo4
GBP/USD Extends Gains Above 1.2150 Level"In the US trading session, GBP/USD rose to its highest level since last Wednesday, surpassing the 1.2170 mark. The pair was supported by a weaker US dollar on Monday, as market participants awaited US employment data, as well as the Fed and BoE meetings. The Relative Strength Index (RSI) on the 4-hour chart remained below 50, and GBP/USD closed the last 4-hour candle below the 20-period Simple Moving Average (SMA), indicating the downtrend is still intact. On the flip side, 1.2075 (a static level) is considered a temporary support before 1.2050 (the recent low) and 1.2000 (a psychological level). The 50-period SMA formed dynamic resistance at 1.2140, ahead of 1.2180 (the 100-period SMA) and 1.2200 (the 23.6% Fibonacci retracement level, and the 200-period SMA).
by Gwen_Humuna
1
GBPUSD Shorts towards 1.20400The Bias for this trade will follow the overall bearish market trend, hence why we will be looking for sells to continue in that same order flow. As of the current price we have two supply zones marked out (A) the refined 4hr supply zone and (B) is the 8hr supply zone at the top. I will be waiting for further confirmation like a re-distribution within the 4hr supply and a clean CHOCH to confirm sells however, there are imbalances above the zone so we can also expect that to get filled and then tap into our extreme 8hr supply at the top for a better sell setup to form. Either way, both targets are at 1.20400 which is at a liquidity point or just below where the daily imbalance is which still hasn't been filled. My confluences for GBPUSD shorts are as follows: - There is a 4hr supply zone & 8hr supply zone that has caused the CHOCH & BOS to the downside. - Price has also swept liquidity from the left hence why we have broken into a bearish trend. - There is a daily imbalance below that hasn't been mitigated as well as wicks in the form or liquidity that hasn't been taken. - The GU market has been in a bearish trend overall on the higher time frames so we trading with the trend. - Price is beginning to create lower lows and lower highs which has multiple small BOS's. P.S. Scenario (A) which is the sell from the 4hr supply zone can be expected to play out during this week but scenario (B) might occur next week. We will see how NFP Friday plays out to give us a better insight into the direction of the market.
Short
by Hassan_fx
2
💡GBPUSD: Challenges in British Retail ➡️British retailers had a tough time in October with their sales hitting a low point, and they anticipated a more challenging November due to the burden of rising living costs. In general, the survey corroborates a string of gloomy business outcomes, indicating the potential for the UK economy to stall or even experience a mild recession. ➡️The GBP/USD pair initially dropped following the release of US GDP data, but it later rebounded and is currently trading below the 48-hour moving average. Given that the MACD double line and the histogram bar have displayed a divergence near the zero axis, there is a possibility of a short-term recovery for the British pound.
Short
by Stone_Haven
EUR/GBP Extends Gains Near 0.8720 Ahead of German Data"EUR/GBP has continued its upward trend for the second consecutive day, trading near the 0.8720 level in early European trading on Monday. The currency pair received support ahead of significant economic data releases from Germany. However, preliminary Gross Domestic Product (GDP) data for Germany is expected to show a 0.3% decline for the quarter, with a 0.7% year-on-year decrease, compared to a 0.2% decline in the previous report. Additionally, initial forecasts for the Consumer Price Index (MoM) indicate a decrease of 0.2%, down from the previous 0.3%. Furthermore, the Euro weakened following the European Central Bank's (ECB) decision to maintain the deposit interest rate at 4.0%, reflecting concerns about the deteriorating economic outlook in the Eurozone. ECB President Christine Lagarde is navigating a delicate balance, steering the central bank through a challenging economic landscape. Maneuvering between a weakening economy and strong inflationary pressures is no easy task. With the increasing complexity of monitoring the Middle East crisis, relying solely on data seems unwise. On the other hand, the British Pound (GBP) may face challenges as traders adopt a cautious stance ahead of the Bank of England's (BoE) policy meeting scheduled for Thursday. Many predictions suggest that the central bank will maintain its current interest rate at a 15-year high of 5.25% due to growing concerns about economic recession. The UK economy is feeling the strain due to high-interest rates, adding to the challenges posed by persistent inflation. Economic data indicates significant declines in various sectors, coupled with high inflation, putting additional pressure on household budgets.
by Gwen_Humuna
GBP/USD Hits Three-Week Low Below 1.2100"GBP/USD extends this week's decline from near 1.2300, touching a three-week low in Asian trading on Thursday, pressured by a stronger US dollar. The pair weakens further below the key 1.2100 level and faces selling pressure. The Relative Strength Index (RSI) on the 4-hour chart drops below 50, and the latest 4-hour candles close below the 100-period and 50-period Simple Moving Averages (SMA), indicating a downtrend. The level at 1.2100 (a psychological threshold) is considered the main support. If buyers fail to defend this level, further losses towards 1.2050 (the recent low) could be witnessed. To attract technical buyers, GBP/USD needs to surpass the resistance zone of 1.2190-1.2200, where the 100-period SMA and the 23.6% Fibonacci retracement level converge. In this scenario, 1.2250 (the 200-period SMA) and 1.2300 (the 38.2% Fibonacci retracement level) could be seen as the next resistance levels. After a sharp decline on Tuesday, GBP/USD rallied back to 1.2200 on Wednesday. However, market caution prevented a sustained recovery. US data released on Tuesday revealed that private sector business activity expanded slightly faster in early October compared to September, with the S&P's global composite PMI improving from 50.2 to 51. While US Treasury bond yields continued to decline, the US dollar benefited from the optimistic PMI data, putting pressure on GBP/USD. In early European trading on Wednesday, US stock index futures traded negatively, and the yield on the 10-year US Treasury note maintained a modest daily increase of around 4.85%, supporting the US dollar. In the latter part of the day, the US New Home Sales data for September will be considered for new momentum. Some policymakers at the Federal Reserve have expressed concerns about the negative impact of high-interest rates on the housing market. Therefore, a significant decline in this data could immediately harm the US dollar. On Thursday, the US Bureau of Economic Analysis will release its initial estimate of third-quarter Gross Domestic Product (GDP) growth.
by Gwen_Humuna
GBPUSD short term Longs to 1.22500SCENARIO 1 - My current bias for GBPUSD is to buy roughly were current price is at (9hr demand) but could expect a bit more downside and mitigate the 7hr demand zone for the buy setup to take place. Regardless we are expecting a wyckoff accumulation to take place in this POI. Targeting 1.22500 were the 8hr supply zone is located, we will then look for price to slow down momentum and distribute for a potential sell setup to form in either the 8hr or the 10hr supply zones. My confluences for the buys are as follows: - Price has tapped into a 9hr demand zone that has caused a change of character to the upside. - There's lots of imbalances left from the downwards push we had today so we are expecting that to get filled in. - Liquidity that was lying underneath the consolidation has also been swept hence why we are starting to see higher highs and higher lows. - Also for price to continue going down in a bearish trend overall I would be expecting for price to mitigate the 1.22500 level in order to continue going down. - wyckoff accumulation is starting to unravel as price was slowing down whilst entering the zone (good sign, as the rejection indicates price wants to go back up.) P.S. If price decides to push higher than our two supply zones and sweeps the liquidity at 1.23400 it will form a break of structure on the higher time frame indicating the trend will officially be bullish temporarily.
Long
by Hassan_fx
1
GBP/USD Approaches 1.2270 Ahead of PMI DataGBP/USD continues its upward momentum since Thursday, trading above the 1.2270 level in the Asian session on Tuesday. The pair receives support from the US Dollar (USD) adjustment, coupled with improved risk sentiment. Although GBP/USD started higher after testing the 1.2100 level, the Relative Strength Index (RSI) on the 4-hour chart remains below 50, indicating the downward trend persists. If the pair closes below 1.2100 in the 4-hour timeframe, sellers might take action. In this scenario, the 1.2050 level (the recent low) could be the next target before 1.2000 (psychological level). On the upside, the 20-period Simple Moving Average (SMA) forms a dynamic resistance at 1.2150, preceding 1.2180 (SMA 100) and 1.2200 (23.6% Fibonacci retracement level of the recent downtrend). Feel free to let me know if you need further assistance or if there's anything specific you'd like to add!
by Gwen_Humuna
2
GBPUSD LONG TERM BUY Trading IDEAHello Traders In This Chart GBPUSD HOURLY Forex Forecast By FOREX PLANET today GBPUSD analysis 👆 🟢This Chart includes_ (GBPUSD market update) 🟢What is The Next Opportunity on GBPUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the ChartS
Long
by ForexPlanet20
1
GBPUSD Short traders looking profitable upto 1.24 {16/08/2023}Educational Analysis says GBPUSD may go Short according to my technical. This is not an entry signal. I have no concerns with your profit and loss from this analysis. Why Short? Because GBPUSD Short traders have already broken the 4-hour Upward Bottom trendline and now Top Downward trendline is being respected. Although this pair has proved that, It's Changing its character and Also Sellers proved that the Market structure shifted and eventually lead to a Break of Structure. Analytical Trade would probably be Sell limit order at 1.27625 Stop loss at 1.27878 Take profit at 1.24462 I HAVE NO CONCERNS WITH YOUR PROFIT OR LOSS.
Short
by VishalBudhrani
5