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Gbpusdforecast

GBPUSD → Falling From Resistance! Should We Long or Short??GBPUSD touched the Resistance Zone and fell into the 30EMA ribbon, putting a slight pause on the fall. Will the price fall further or are we about to make contact with the Resistance Zone again? How do we trade this? 🤔 I do not believe a short is reasonable here because we don't have enough bear strength on the chart. Wait for another rejection at Resistance or wait for the price to fall and find support to enter a long. There are two potential long entries, at the Support Zone around 1.21150 and above the current Resistance Zone around 1.29. Both zones need to establish support and show confirmation to justify a long entry. This includes a bull signal bar closing on or near its high followed by a strong bull candle closing on or near its high. Until then, it's best to wait on the sidelines for a better opportunity! 💡 Trade Ideas 💡 Long Entry: 1.21150 🟥 Stop Loss: 1.18650 ✅ Take Profit: 1.26150 ⚖️ Risk/Reward Ratio: 1:2 Long Entry: 1.29000 🟥 Stop Loss: 1.26450 ✅ Take Profit: 1.34100 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Trading Range after Bull Run, Bias to Long. 2. Macro Trend is Bearish, Use Caution at Weekly 200EMA. 3. If in Short Position, hold until Support Zone. 4. If not in a Position, Wait until Support to Long. 5. RSI near 53.00 under Moving Average, Bias to Short. ⚠️ 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!
Long
by TraderEngineering
GBPUSD Longs from 1.26500 Up towards 1.28000This GBPUSD scenario catches my attention due to the intriguing structure that price has formed. Presently, my strategy involves waiting for a slight dip in price to reach the Asian low and touch my 10hr demand zone. Following this, I anticipate a Wyckoff accumulation process, providing an opportunity for a buy position targeting the 10hr supply zone located within the psychological level of 1.28000. In the event that price decides to rise first, my inclination would be toward short-term sells initiated from the same 10hr supply zone, with the aim of guiding it down toward the demand. Additionally, my interest is piqued by the backup zones, where substantial liquidity is visible near my Points of Interest (POIs), offering reliable areas for potential trading opportunities. Confluences for GBPUSD Buys are as follows: - Unmitigated 10hr Demand zone has been left which caused a major BOS to the upside. - Temporary trend is also bullish as price has broken structure once again. - DXY is still looking bearish meaning that GBPUSD is expected to rise. - Asian low on top of demand is a good sign as price will sweep liquidity before entering. - In order for price to continue in its bullish course, it must ideally react off a demand level. P.S. As the current market conditions remain in equilibrium, my approach is to wait for price to reach either a discounted or premium level. Given the ongoing short retracement and the presence of liquidity below, I anticipate the demand to be mitigated first at the discounted price. However, I acknowledge the possibility of price reaching my 10hr supply, in which case, I would opt for selling positions to capture a downward movement. HAPPY NEW YEARS TO ALL OF YOU AND HOPE THIS YEAR BRING EVERYONE PROFITABILITY AND CONSISTENCY. LETS CATCH THESE PIPS!
Long
by Hassan_fx
GBPUSD I Are the bears ready to step in? Consider this first.Welcome 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!
Long
by BKTradingAcademy
1
GBPUSD: Bullish Rebound Confirmed, Eyes Set on 1.28321In the intricate realm of global finance, the decisions and policies of major central banks wield considerable influence over currency markets. One such pivotal institution is the Federal Reserve, the central bank of the United States, whose recent policy trajectory has had a discernible impact on the GBPUSD currency pair. This essay delves into the nuanced dynamics that unfolded in response to the Federal Reserve's dovish stance and its consequential effect on the GBPUSD exchange rate. The Federal Reserve's Dovish Turn: Central to this narrative is the Federal Reserve's decision to temper the pace of interest rate hikes. The Fed opted for a dovish stance, signaling a cautious approach towards tightening monetary policy. Powell's inclination towards dovishness, characterized by a reluctance to aggressively raise benchmark interest rates, marked a departure from more hawkish postures seen in the last year. Impact on GBPUSD: Commencing on December 14th, an observable surge in the GBPUSD exchange rate ensued, catapulting from 1.25002 to 1.27937. This substantial uptick was emblematic of market participants reacting to the Federal Reserve's dovish signals, with investors seeking higher-yielding assets in response to the diminished allure of the U.S. dollar. The relative attractiveness of the British pound against its American counterpart found favor among traders, contributing to the pronounced rise in the exchange rate. Support Levels and Resilience: While the GBPUSD pair experienced a subsequent correction, touching the support level at 1.26124, its resilience was noteworthy. The bounce back from this support level underscored the underlying strength and confidence in the pound, even in the face of corrective movements. This resilience is indicative of a market sentiment that continues to favor the British currency. Future Trajectory: A Glimpse at 1.28321: As the GBPUSD pair rides the waves of market sentiment and central bank policies, forecasts point towards a potential further ascent. The likelihood of the exchange rate climbing to 1.28321 is grounded in the persisting dovish stance of the Federal Reserve, which, if sustained, could continue to dampen the appeal of the U.S. dollar in comparison to other currencies. Rejection at Support: Unleashing Bullish Momentum In the 2-hour timeframe, GBPUSD witnessed a crucial rejection at the 1.26903 support level, signaling a robust defense by bulls. This pivotal event serves as a potent indicator of underlying strength, hinting at a potential shift in market sentiment and affirming the narrative of a bullish continuation. Technical Analysis: Bullish Rejection Pattern Beyond numerical significance, the rejection at 1.26903 represents a convergence of market forces. Buying interest surpassed selling pressure, forming a bullish rejection candlestick pattern. Traders interpreting this pattern would likely see it as a confirmation of the market's intent to resume its upward trajectory. Continuation of Uptrend: Fueled by Resilience Confirmation of the rejection aligns with GBPUSD's resilience amid corrective movements. Buoyant market sentiment, driven by the Federal Reserve's dovish stance, acts as a catalyst for renewed upward momentum. Surpassing the previous high of 1.27937 becomes critical, paving the way for an ascent towards the envisioned target of 1.28321. Traders armed with confirmation from the rejection may target this milestone in the ongoing bullish trend. Risk Management: Navigating Uncertainties While the support rejection supports a bullish outlook, prudent risk management remains crucial. Unforeseen geopolitical or economic developments could introduce volatility, necessitating vigilance. Traders must be mindful of stop-loss levels and stay attuned to evolving market conditions. Conclusion: In the dynamic realm of currency markets, the rejection at the support level of 1.26903 serves as a pivotal chapter in the ongoing saga of GBPUSD. It not only validates the resilience of the pound but also provides a technical confirmation for those seeking to ride the anticipated wave of bullish momentum. As the pair gears up for a potential ascent towards 1.28321, traders and analysts alike will closely monitor the evolving landscape, mindful of the delicate balance between opportunity and risk in the ever-shifting currents of the foreign exchange market.
Long
by fardycurry
GBPUSD Longs from 1.26500 or 1.25500This week's forecast for GBPUSD involves waiting for additional selling pressure to occur before considering buys around the two nearby demand zones I've identified (10-hour and 11-hour). Following the recent reaction from a 7-hour supply, as the price is currently descending, I am anticipating the exhaustion of selling pressure and the accumulation of price. Upon confirmation of a Wyckoff accumulation, validated by a CHOCH within my demand zone, I will be prompted to initiate buy positions aligned with the prevailing bullish trend in GBPUSD. Additionally, there is notable liquidity to the upside, including engineered liquidity and untouched Asian highs. Confluences for GBPUSD Buys are as follows: - There are two demand zones (the 10hr and the 11hr) that price could react off. - Lots of liquidity in the form of engineering liquidity and asian highs. - This idea aligns with the temporary bullish trend that GU has generated. - Selling pressure is slowly getting exhausted and is pending an accumulation. - For price to continue going higher and create a new leg it must react off a near demand. P.S. While acknowledging the temporary bullish trend in place, it's important to recognize the overall bearish trend for this pair. This implies that eventually, the price will reach a certain supply level, triggering a significant bearish movement. However, for the present moment, it's crucial to adapt and align with the current bullish trend.
Long
by Hassan_fx
GBPUSD | Perspective for the new week | Follow-upDespite a slight dip on Friday, the GBPUSD charts remain poised for potential new highs. The aftermath of the U.S. Federal Reserve's dovish pivot faced resistance from New York Federal Reserve President John Williams, moderating rate cut expectations and emphasizing the central bank's commitment to tackling inflation. In this dynamic landscape, both the Bank of England (BoE) and the Federal Reserve (Fed) maintained unchanged rates but conveyed distinct messages. BoE Governor Andrew Bailey struck a hawkish tone, highlighting that there's "still some way to go" in their inflation battle. In contrast, Fed Chair Jerome Powell hinted at sufficiently restrictive monetary policy, introducing discussions about rate cuts, a notion later tempered by New York Fed President John Williams, deeming March rate cut talks as "premature." On the UK front, December witnessed an overall improvement in business activity, barring manufacturing, which lingered in recessionary territory since July 2022. As we gear up for the upcoming week, the UK's economic docket will unveil crucial inflation figures and retail sales. Simultaneously, across the pond, the week kicks off with housing data and consumer confidence until Wednesday, followed by the final GDP print, unemployment claims, Durable Goods Orders, and consumer sentiment from Thursday onwards. Given these developments, how should we approach the week ahead from a technical standpoint? GBPUSD Technical Analysis: Will the pound continue its trajectory and sustain its momentum above the $1.26000 zone? The stakes are high, and we're on the edge of our seats! The spotlight is on high-impact economic events from both the US docket for clues. Brace yourselves as the anticipation and the actual events may trigger sharp price movements that could present incredible trading opportunities. In this video, we've analyzed the Daily and 4-hour timeframes, exploring bullish and bearish sentiments to uncover the most promising trades for the week ahead. We've delved into key levels, trendlines, and support/resistance points, unveiling essential insights into the current market structure. We are keeping a close eye on the potential range between $1.27350 and $1.26000 where a consolidation could happen before the next BIG move. It's a decisive structure where both sellers and buyers will be vying for control, and how the market reacts here will set the course for GBPUSD in the upcoming days. Stay connected and join the conversation in the comment section to stay updated on the latest developments. Thank you for tuning in, and get ready for more enlightening insights into GBPUSD in our upcoming content. Buckle up for a thrilling journey ahead! Happy trading! Disclaimer Notice: Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy. It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances. Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it. Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
by darcsherry
GBPUSD Longs from 1.25500 up towards 1.28500The current bias for GBPUSD this week is interesting, particularly as it has once again broken structure to the upside, enhancing the favourability of a bullish bias. At the current price, our focus as traders should revolve around how to capitalise on this development. Notably, there are two demand zones (11-hour and 3-hour) that triggered this impulsive upward movement. Identifying these zones as my Points of Interest (POIs) for potential buys, I plan to wait for a pullback, influenced by its interaction with the previous 4-hour supply zone. Given the respectable reaction observed on Friday, I now anticipate a bearish push downward to address any imbalances left from the previous week. Subsequently, I expect a Wyckoff accumulation to unfold within our POIs, providing the opportunity to enter our buy positions. Confluences for GBPUSD Buys are as follows: - Price has just recently broke structure to the upside again validating a bullish bias. - Lots of liquidity of still left above in the form of asian highs and trend line liquidity. - Nice unmitigated demand zones left on the 11hr and 3hr (TF) that have caused the BOS. - Dollar index is still very much so bearish as well and I'm expecting more downside. - The price also responded to my 4-hour supply zone last week, and this event could serve as the catalyst for a retracement, paving the way for a new upward movement. P.S. While the general bias for GBPUSD leans bearish, the consistent Breaks of Structure (BOS) strongly support the overarching downward trend of the dollar index. Presently, my focus is on identifying optimal bullish setups. However, if the price enters a significant supply level, I won't rule out the possibility of considering short-term sell positions. Let me know what you guys think of your GBPUSD overview, don't hesitate to drop a comment below !
Long
by Hassan_fx
2
GBPUSDDear Traders, GBPUSD expecting USD domination for sometimes until the price falls within our range where it is likely to fill the liquidity void that it had left. That area is where big buys may occur taking the price to yearly HH. This trade is swing trade so wait for the price to do its things. Expecting this setup to be activated in the beginning of the new year 2024. If you like our work than please consider liking and commenting the idea that will encourage us.
Long
by Setupsfx_
1
GBPUSD Looking BearishUpon examining the H4 chart, a significant development unfolds: the price is presently exceeding the crucial threshold of 1.2547, marking a breakthrough of the formerly recognized pullback resistance. This breakout implies a substantial alteration in market dynamics, indicating that the driving force behind the price movement is robust enough to surmount the resistance that previously induced a temporary pullback. Traders and analysts might view this progression as a potential bullish signal, as the market demonstrates strength in overcoming recent obstacles. Additional analysis, along with the consideration of other indicators, may be necessary to obtain a thorough comprehension of the current market trend.
Short
by HUMCRYPTOCLUB
GBP/USD Longs from 1.25000 up to 1.26200GU exhibits an overall bearish trend on the higher time frame (HTF) but has recently shown a bullish uptrend in the past weeks. Consequently, my strategy involves seeking buying opportunities leading up to the next marked supply zone, followed by potential selling positions as the price retraces. I anticipate a potential dip, possibly reaching 50% of the 16-hour demand or even entering the 10-hour zone below it. However, these zones are expected to prompt an impulsive upward movement that will extend into our 4-hour supply level. Observing the current setup, there's notable liquidity situated above the present price, and it is likely that the price will sweep through this area before initiating a bearish reaction. Given the temporary bullish trend, it wouldn't be surprising if the price surpasses the 4-hour demand zone, considering the strong bullish momentum evident in the candlestick anatomy. Confluences for GBPUSD buys are as follows: - Price has tapped into 16hr demand zone and has caused an initial reaction upwards. - Wyckoff accumulation has already been forming and just needs the Asian lows to be swept. - POI has caused a break of structure to the upside and has also swept liquidity. - Dollar is also looking bearish still so I'm still bullish for this pair at the moment. - Liquidity lying above in the form of Asian lows and trendline liquidity. P.S Ideally, I prefer the price to retest the 16-hour demand, eliminating the remaining Asian low within that zone and triggering the 0.78 Fibonacci range associated with the "Break Of Structure." This sequence would enhance the buying scenario by nullifying any potential reversal influences and positioning the price within a more refined and respected zone, as emphasized by the 16-hour demand.
Long
by Hassan_fx
2
GBPUSD | Perspective for the new week | Follow-upThe GBPUSD continued its upward momentum, closing the week around 1.27100, a key level for the upcoming week. The Pound's strength is fueled by expectations that the Bank of England will delay rate cuts compared to the Fed and ECB. This sentiment was further supported by a decrease in Treasury yields following Powell's comments about the balanced risks of interest rate hikes. The 10-year notes fell to 4.213%, limiting the US Dollar's momentum. With no major economic releases from the UK in the coming week, the question arises: how will the Pound Sterling perform against the US Dollar? GBPUSD Technical Analysis: Will the pound continue its trajectory and sustain its momentum above the $1.27100 zone? The stakes are high, and we're on the edge of our seats! The spotlight is on high-impact economic events from both the US docket for clues. Brace yourselves as the anticipation and the actual events may trigger sharp price movements that could present incredible trading opportunities. In this video, we've analyzed the Daily and 4-hour timeframes, exploring bullish and bearish sentiments to uncover the most promising trades for the week ahead. We've delved into key levels, trendlines, and support/resistance points, unveiling essential insights into the current market structure. We are keeping a close eye on the potential range between $1.27100 and $1.26200 where a consolidation could happen before the next BIG move. It's a decisive structure where both sellers and buyers will be vying for control, and how the market reacts here will set the course for GBPUSD in the upcoming days. Stay connected and join the conversation in the comment section to stay updated on the latest developments. Thank you for tuning in, and get ready for more enlightening insights into GBPUSD in our upcoming content. Buckle up for a thrilling journey ahead! Happy trading! Disclaimer Notice: Please be aware that margin trading in the foreign exchange market, including commodity trading, CFDs, stocks, and other instruments, carries a high level of risk and may not be suitable for all investors. The content of this speculative material, including all data, is provided by me for educational purposes only and to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not assume any responsibility for its accuracy. It is important that you carefully evaluate your investment experience, financial situation, investment objectives, and risk tolerance level. Before making any investment, it is advisable to consult with your independent financial advisor to assess the suitability of your circumstances. Please note that I cannot guarantee the accuracy of the information provided, and I am not liable for any loss or damage that may directly or indirectly result from the content or the receipt of any instructions or notifications associated with it. Remember that past performance is not necessarily indicative of future results. Keep this in mind while considering any investment opportunities.
by darcsherry
1
GBPUSD: The dollar's grip on FX will weaken in 2024, poll showsThe US dollar's influence on the foreign exchange market is likely to weaken in 2024, especially in the second half of the year, according to a study by Currency Strategists. The survey, which included the views of 71 analysts, found that expected U.S. Federal Reserve interest rate cuts next year could lead to a weaker dollar against G-10 currencies. other. The dollar, which has been a mainstay in foreign exchange markets since mid-2021, showed signs of weakness last week following dovish comments from some US Federal Reserve officials. This change in tone caused the dollar index to fall 3.0% in November, its biggest monthly decline in a year. The strength of the US economy is the main reason for the dollar's strength, with last quarter's annualized growth of 5.2%, the highest level since the final quarter of 2021. But analysts expect the dollar's weakening trend to continue next year, with most of the decline occurring by the end of 2024. Lee Hardman, senior currency strategist at MUFG, commented on the outlook: Challenges in global economic growth outside the United States are reasons to be cautious in predicting an immediate decline in the dollar. The dollar is expected to maintain some resilience in the first half of 2024, but strategists cannot agree on the factors that will determine its performance. Among the analysts, 20 cited interest rate differentials as potential factors, 17 cited economic indicators, seven cited demand for safe assets, and three cited other reasons.
Short
by Chart_MasterPro
GBPUSD Technical Analysis And Trade IdeaLately, the GBPUSD has shown a bullish trend, driven by the strength of the GBP and the relative weakness of the USD. In this video, we delve into a potential trading opportunity by examining scenarios across the 1D and 4H timeframes. We'll provide valuable insights into price action, market structure, trend assessment, and essential technical anaysis factors. However, it's crucial to emphasize that the information shared here is purely for educational purposes, and should not be misconstrued as financial advice.
Long
by tradingwithanthony