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Gbpusdanalysis

GBPUSD: Dollar slides lower after CPI data; Sterling is supporteThe dollar steadied in early European trade on Friday as investors focused on mixed U.S. consumer inflation data and the potential impact of the FBI's interest rate cut. Future Federal Reserve System. As of 4:25 p.m. ET (9:25 p.m. Japan time), the dollar index against a basket of six other currencies was trading steady at 102.022, down from Thursday's high of 102.76 (a five-month low). Although it has fallen from a certain point of 100.61, it is still above it. U.S. consumer prices rose 0.3% in December, according to data released Thursday. The annual rate of increase was 3.4%, exceeding expectations of 0.2% and 3.2% increases, respectively. increase. However, the dollar received little support from this, as the "core" CPI, which excludes volatile food and energy prices, fell again, suggesting underlying inflation remained subdued. Federal Reserve officials have sought to downplay the possibility of early rate cuts, with Cleveland Fed President Loretta Mester saying Thursday that the latest CPI numbers indicate it may be too early for the central bank to cut rates. Major interest rate cuts in March. But most traders still expect the Fed to start cutting rates as early as March. "A rate cut in March is still priced in by more than 60%, and we still see near-term vulnerability in risk assets from this move," ING analysts said in a note. The new decision is too restrictive. ” All eyes are now on the US producer price index, which will be released in late trading, with the index expected to rise 0.1% in December, bringing the annual rate of increase to just 1.3%. In Europe, the pound/dollar pair rose 0.1% to 1.2775 after data released on Friday showed the British economy grew slightly more than expected in November. The country's GDP rose 0.3% this month, beating expectations for a 0.2% increase.
Long
by Chart_MasterPro
💡 GBPUSD: Waiting for new signalAlthough down, last Friday's D1 GBPUSD bar has the form of a bullish pinbar pattern, showing buying pressure from below. Right in front is also a bullish pinbar. Although it is moving sideways and accumulating in the inside bar model, GBPUSD D1 is putting pressure on the upper border, easily leading to a break to the upside. The accumulation structure with upward sloping price bottoms and sideways price peaks creates upward price pressure for GBPUSD H1, which is the reason for continuing to choose buying ideas for GBPUSD today.
Long
by Stone_Haven
GBPUSD → Two Sell Signal Bars! Time to Short? Let's Answer.GBPUSD gave us more upward price action to finish last week and thus far has failed to break the neckline. The Weekly chart shows two wicks over the 200EMA, but not a clean break. Should we short here? How do we trade this?  🤔 We do not yet have the justification to short for several reasons. Most important, we're lacking a confirmation bar below the 200EMA. We have the two sell bars, but notice the last Daily candle from last week, it's a strong buy bar near a resistance line. A buy bar at a resistance line is not a buy signal because the context doesn't support a buy here. Buy bars this late in the game are often indicative of a potential reversal. The bulls tried to buy after a quick dip in price but failed to close above the 200EMA. This is a sign of potential weakness, key word: *potential*. That weakness needs to be confirmed with a strong bear bar closing on or near its low. Such a dip will likely bring us to the 30EMA where I would expect some support. My preference would be to wait for that price action to either close below the 30EMA, or come back up to the Resistance Zone (as depicted) and fail again to confirm the short entry. Until then, it's best to wait on the sidelines for the required price action. 💡  Trade Idea  💡 Short Entry: $2,225 🟥 Stop Loss: $2,510 ✅ Take Profit: $1,940 ⚖️ Risk/Reward Ratio: 1:1 🔑  Key Takeaways  🔑 1. Two Sell Signals at Resistance Zone 2. Failed to break 200EMA 3. Watch for Bear Close Below 200EMA and a re-test of Resistance Zone. 4. Look for Strong Bear Signal at Resistance to Short. 5. RSI near 58.00 above Moving Average, Contradicts Short Bias. 💰  Trading Tip  💰 A buy bar in isolation (bull candle with a large wick on the bottom) is a bullish bar. But bars in isolation are irrelevant when it comes to addressing a chart. Context is everything and when a buy bar appears near a Resistance Zone at what is possibly the end of a trend, it should not be considered a buy signal, but potentially a sign of weakness before the bears take over. ⚠️  Risk Warning!  ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Short
by TraderEngineering
GBPUSD I Detailed Trading Plan & How to ExecuteWelcome 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!
by BKTradingAcademy
11
GBPUSD END-WEEK ANALYSIS 2 UPDATE 08/10/2023📈🌟 GBP/USD Market Analysis: A Potential Shift in Sentiment GBP/USD has exhibited a bearish trend in recent times. However, an interesting development to note is the shift in the US Dollar Index (DXY). The DXY broke its previous structure to the downside and re-entered a range dating back to August 30, 2023. This change could impact GBP/USD sentiment. Be on the lookout for potential retracement or trend reversal opportunities in the coming sessions. Stay adaptable and prioritize risk management. 📉📊 #GBPUSD #Forex #TradingView #MarketAnalysis Same for AUDUSD and NZDUSD
Long
by Dion-FX
4