Gbpusdforecast
GBPUSD ShortTime Frame: 4H
Symbol: GBPUSD
Entry: 1.31502
TP: 1.29781
SL: 1.32944
Bias: Short
The price pattern of GBPUSD is also indicating a short bias. Our goal is to go with the current short ride. There is no strong possibility for a long movement standing against dollar. So, our expectation is high for shorting.
GGBP/USD is challenging its strong support zone. Will it bounce?After breaking below the trendline support, what bit confirmed that the GBP/USD will test its significant support level, and it happens.
Now the question is will GBP/USD bounce from the strong support level?
We have seen gold and oil didn't respect any substantial resistance. EUR/USD is falling apart and not the following support as well. So, can GBP/USD respect the support zone and bounce?
From my view, GBP has 50/50 chances. As long as GBP/USD is above 1.3150, I believe that GBP/USD will bounce nearly 1.3350 zones. After that, if the Russia-Ukraine war turns into a more critical situation or if GBP/USD breaks below the 1.3150 zones, it has a big room to drop till 1.2800.
So, I suggest you put one sell limit order at 1.3350 or sell after a breakout at 1.3150. Our first target to the downside is 1.3000, and the final target is 1.2800.
Remember: as long as the Russia-Ukraine war exists, we should not buy GBP and EUR. As commodities prices rise, commodities currencies are rising like AUD, NZD, and CAD. Otherwise, they would also drop.
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GBPUSD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPUSD LongTime Frame: 4H
Symbol: GBPUSD
Entry: 1.33789
TP: 1.35251
SL: 1.32550
Bias: Long
For GBPUSD our technical analysis indicates a long trade. After a sharp fall the trend is loitering in a range but the correction move will reset the course for the pair upward and generate a high probability long entry.
GBP/USD may drop first before it pulls back to the upside. GBP is a bit under pressure after BOE delivers a dovish statement. But GBP/USD is still supported because of the USD's weakness.
Market commentators said that the sanctions announced by the US against Russia on Tuesday weren't as harsh as feared, facilitating the broad rebound in risk assets and selling pressure on safe-havens.
Market commentators also noted that US officials also committed to implementing further sanctions on Russia if needed.
But still, GBP/USD has big chances to go upside. 1.3640/1.3650 is identified as a trendline and horizontal resistance from the price zone.
So, as long as GBP/USD is below the resistance level, it has chances to drop first. But if GBP/USD can break above the trendline resistance, the scenario will be different than it has a long way to go upside.
On the other hand, 1.3500/1.3480 is a powerful support zone. So, as long as GBP/USD is above 1.3480/1.3500, there will be a strong upside bias.
So, if GBP/USD drops nearly 1.3500/1.3480 price zone, it may be a wise decision to play into buy with stop loss below the 1.3420 price zone.
On the other hand, If GBP/USD breaks above 1.3650, there will be an explicit confirmation of upside breakout. Our first target to the upside is 1.3740/1.3750. Breaking above 1.3750 will open the door for 1.3820, and the final target to the upside is the 1.3950/1.4000 price zone.
GBP/USD Sell Opportunity: Breaks Below The Trendline Support.Hello GBP/USD traders, welcome back again. GBP/USD has closed its candle below the trendline support that has created chances to test one more time 1.3200 price zone.
Last week BoE delivered a dovish statement, and Russia-Ukraine issues have created high demands of the safe-haven USD one more time.
After breaking below the 1.3490 price zone yesterday, it confirms its downtrend again. So, as long as GBP/USD is below the trendline support zone, we will see more selling pressure on GBP/USD.
1.34/40/1.3490 is identified as a selling zone for the current circumstance. Stop-loss should be above its trendline resistance and swing high zone of 1.3645 price zone. Our target zone to the downside is the 1.3200/1.3180 price zone.
GBPUSD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPUSD LongTime Frame: 4H
Symbol: GBPUSD
Entry: 1.36005
TP: 1.37398
SL: 1.34889
Bias: Long
For GBPUSD we can see a strong bullish pattern . Our fundamental and technical studies prove that we can anticipate a long trade . The trade will be amply supported by the current volatility up to the nearest resistance levels.