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Gbpusdforecast

GBPUSD Long towards 1.22800 (possibly higher)For today's GU breakdown I will be looking for buys from current price as it has tapped in a nice 6hr demand zone that has caused a BOS to the upside. As we have seen from last week's GU analysis we did anticipate scenario (A) to play out and it did so perfectly. Now, we are looking for buys back up as it has filled in the major imbalances left from before. On Monday I will be looking for a clean entry where I can continue this trend that GU has set to the upside, possibly causing another rally to the upside and a new BOS. In addition to this, the zone also lies between the 0.78 fib range which is a good confluence that price will respect this AOI. As this is an uptrend I can also expect price to push past the 11hr supply (where the take profit target is) and mitigate the extreme supply above it. Confluences for GBPUSD Longs are as follows: - 6hr demand zone lies between the 0.78 range on the fib tool. - Demand zone has also broken structure to the upside following short term bullish trend. - Price has completed a wyckoff accumulation schematic and CHOCH'd to the upside. - Lots of liquidity lying above i.e. asian highs and imbalances that need to be filled. - Dollar index also looking bearish as well good confluence for GU to then push upwards. - A lot of rejection candles inside zone as well as a consolidation (good sign that price is going to respect that POI.) P.S. I am still temporarily bullish, but my overall bias is bearish (looking at the monthly/weekly time frames.) Price has also slowed down and sells are getting exhausted hence the consolidation In our POI. I would be looking to see how this plays out on Monday before CPI, then re assess my next potential trading setups for the rest of the week.
Long
by Hassan_fx
1
GBPUSD | Perspective for the new week | Follow-upThe pound Sterling experienced a turbulent week as it traded within a narrow range. However, a recovery in broad-market sentiment occurred after the release of a disappointing US Nonfarm Payrolls (NFP) report. This report sparked investor risk appetite, particularly heading into the weekend. The US NFP figures fell short of expectations, revealing the worst headline figure in nearly three years. In October, the US added 150K new jobs, which was below the market forecast of 180K and significantly lower than September's figure of 297K. September's figure was also revised downwards from the initial print of 336K. This underwhelming performance in US job growth has led to a decline in the US Dollar across the broader market. Surprisingly, investors are now favoring risk assets over safe havens despite the negative US labor data. The softening of US data is likely to give the Federal Reserve reason to pause on interest rate decisions. Investors are eagerly looking for signs that the Fed will accelerate the schedule for future rate cuts. As a result of this data, investors are now pricing in a 95% chance that the US central bank will keep interest rates unchanged in December, compared to the previous estimate of 80%. This shift in expectations may lead to increased volatility for the pound Sterling, especially considering that the UK GDP data is scheduled for release next Friday. GBPUSD Technical Analysis: Will the pound find a reversal set-up in the near future as the price breaks the $1.23300 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 dockets 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 $1.23900 and $1.23300 where a consolidation could happen before the next BIG move. It's a decisive structure where both sellers and buyers will be vying ti 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: Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy. It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment. I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it. Please note that past performance is not necessarily indicative of future results
by darcsherry
GBPUSD possible buy area!GBPUSD experienced a continuous downtrend in its latest session, but the descent was tempered by a rebound towards the session's close. An interesting observation is the appearance of a bullish pin bar pattern on the daily chart, signaling a reduction in selling pressure. This implies a possible end to the correction phase and an increased probability of the price returning to its upward trajectory, in line with reversal signals seen in the previous session.
Long
by ForexWizard01
GBPUSD short term Shorts to 1.22000GBPUSD has a similar bias to EU so im also currently looking for a sell setup to form to take price down towards an area of demand. This counter trend trade will allow us to catch a move before we end up buying alongside the bullish order flow at around the 1.22000 mark. Scenario (A) - Price is currently reacting off our 6hr supply zone that we have marked out, this is were im expecting for price to fully complete a wyckoff distribution schematic and change character. As there has been an impulsive move to the upside it has left imbalances that im expecting to get filled. This will be a retracement as price has already expanded to the upside. Scenario (B) - Is that price will continue to push higher and fail this zone to then mitigate the imbalance that is sitting just below the 9hr supply. From there, my next AOI will be at that level of supply to sell at a more premium price. My confluences for GBPUSD shorts are as follows: - Overall trend on the HTF (weekly/monthly) is bearish. - Price tapped in to a 6hr supply zone and there is a daily supply just above. - Momentum is slowing down expecting price to distribute and choch to the downside. - Imbalances were left below due to NFP news so im expecting it to get filled via a pullback. - For price to continue in its recent bullish trend im expecting price to come back to those demand levels below at 1.22000. P.S. Either way the purporse behind these short term sells is to ride price back down towards areas of demand like the 6hr or the 1hr and then buy from there. This bias is also backed by the dollar index as you can see in that analysis post.
Short
by Hassan_fx
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
GBPUSD | Perspective for the new week | Follow-upDespite a setback in UK Retail Sales last Friday, where September's retailers' receipts fell by -0.9% against the expected -0.1%, the Pound Sterling is finding its footing amidst a weakening US Dollar (USD). As it finds demand around the $1.21000 area; the GBPUSD pair is capitalizing on the current market conditions, aiming to secure gains in the face of global uncertainties. Looking ahead, market enthusiasts are eyeing Tuesday's UK Labor and Purchasing Manager Index (PMI) figures. Forecasts suggest a decline of 198K job additions in August, a slight improvement from July's -207K. Additionally, there is optimism for an uptick in the UK preliminary PMI, with the PMI Composite expected to print at 48.8, compared to the previous 48.5. Federal Reserve (Fed) Chairman Jerome Powell's recent comments regarding significant tightening in financial conditions, particularly with higher bond yields, might influence policy decisions, potentially weakening the US Dollar. However, it's essential to acknowledge the ongoing Israel-Hamas conflict, which could prompt investors to seek refuge in safe-haven assets, possibly bolstering the USD against its counterparts. As we step into the new week, we approach the market with flexibility, keeping our strategies adaptable to changing scenarios. GBPUSD Technical Analysis: Will the pound find solid support at the $1.2000/$1.18000 zone, or are we heading towards a potential breakdown and a possible sell-off? 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 dockets 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. Keep a close eye on that critical confluence at $1.21800. It's a decisive moment where both sellers and buyers are 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: Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy. It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment. I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it. Please note that past performance is not necessarily indicative of future results
by darcsherry
2
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
GBPUSD Technical Forecast and Trading StrategyWelcome 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!
Short
by BKTradingAcademy
5