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Gbpusdbuy

GBPUSD Buy Entry ConfirmationFundamental Analysis Bank of England said inflation will hit 11% after raising interest rate to 13 year's high. They also expected that the inflation likely to exceed 11% by October, 2022. Three of the policy makers named Jonathan Haskel, Catherine Mann and Michael Sunders voted to raise the interest rates to 1.5% which could be the biggest rise since 1995. BoE is trying to start battle and fight against this inflation. Technical Analysis: If we consider the technical facts, 1.2184 is the nearest support for GBPUSD and 1.2340 is the strongest support for it. Therefore, the market might test 1.2340 as it already tested the nearest support. ForexLab&Research Trade Idea: Buy from 1.2260 Stop Loss: 1.21849 TP# 1.2340
Long
by ForexLab
Can we get a pull back on GBPUSD?Hi Traders, I trust everyone had a successful week of trading. Many of my setups have played out to the T. I am looking GBPUSD today, Price has broken out of a very strong support area and pushed straight down during CPI release on Friday. It has now found support at 1.230. Because this move fell so hard I would like to see the market correcting on Monday or Tuesday next week. My target is at the untested Resistance. If price plays out the way I anticipate I will then be looking for short positions next week if it fails to break the resistance of 1.250 With that being said, Happy weekend, and see you in the next post. Renaldo Philander
Long
by Tradebudz
1
GBPUSD | New perspectiveA significant breakout of the bearish trendline on the 1 Hour time frame appears to be a major signal that the bulls are taking charge hence the reason I am looking forward to a bullish momentum going into the New-York session. So, to make preparation for entry easier, I have identified a key level at $1.25300 that will be a guide to taking advantage of the potential bullish move. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
GBPUSD Gonna Pullback & DownMarket Price Action Structure is Key! Technically, In weekly RSI; Its Over Sold; In Daily & 4H its strong bullish divergence! 1. Monetary Policy At their May meeting, the BoE delivered on expectations by raising the bank rate by 25bsp to 1.0%. There was an initial hawkish surprise as the vote split was 9-0 (no dissent from Cunliffe) and 3 of the 9 MPC members voted for a 50bsp move at the meeting. However, the hawkish reaction soon faded as it was also revealed that 2 of the 6 members who voted for a hike thought that this marked the end of the current hiking cycle. The dovishness didn’t stop there though as the BoE revised up their forecasts for peak inflation to >10% which added to the stagflation fears as the bank also saw possible GDP contraction in 2023. Furthermore, the bank took their first real stab at overly aggressive STIR pricing for the 2022 rate path by saying the current path would imply a big undershoot of their 2% inflation target in 2023 and was later backed up by Governor Bailey who said even though he thought rates should continue to rise he didn’t agree with those who think the MPC should be raising interest rates by a lot more. As the bank rate was raised to 1.0%, the markets expected some clarity from the bank on their plans to reduce the balance sheet . However, the bank decided to play for more time and said the bank will provide an update on their plans at the August meeting, pushing back expectations of active QT from Q2 to Q3. As a result of the overall dovish tone, Sterling fell to its lowest levels since 1Q21. The meeting confirmed market calls that the bank would look to hold rates steady after reaching 1.50%. 2. Economic & Health Developments With inflation the main reason for the BoE’s recent rate hikes, there is a concern that the UK economy faces stagflation risk, as price pressures stay sticky while growth decelerates. That also means that current market expectations for rates continues to look too aggressive even after the BoE’s recent push back. This means downside risks for GBP if growth data push lower and/or the BoE continue to push their recent dovish tone. 3. Political Developments Political uncertainty is usually GBP negative, so the PM’s future remains a risk. If distrust grows question remains on whether a no-confidence vote can happen (if so, short-term downside is likely), and whether he can survive the vote (a win should be GBP positive and a loss GBP negative). The Northern Ireland protocol remains a focus, with previous UK threats to trigger Article 16 and EU threats to terminate the Brexit deal if they do. Markets have rightly ignored this as posturing, but any actual escalation can see sharp GBP downside. 1. SEE THE FUNDAMENTAL! 2. WHAT IS THE OVERALL TREND? PRICE ACTION WILL GIVE YOU CLUE! 3. IS PRICE AT A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)? 4. IS PRICE APPROACHING A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)? 5. ARE YOU TRADING WITH THE TREND OR AGAINST THE TREND (MAKE SURE YOU ONLY TRADE AGAINST THE TREND ON THE 4HR TIME-FRAME AND ABOVE. 6. AND MUST CHECK THE DIVERGENCE.
Long
by mahfuzazim_TA