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Gbpusdidea

GBPUSDI wrote in my last piece on 16th May that despite the long-term bearish trend and the price still not far off that long-term low, we were seeing an important bullish sign – a first higher low at $1.2226. I thought the best approach would be to stand aside and wait for the price to get established below $1.2226 (bearish sign) or above $1.2277 (bullish sign). It seemed quite possible that the price would basically hold within this range until the end of today’s London session. This was a good call, as waiting for the breakout above $1.2277 at the end of the day would have produced profit over the next day, and close to 300 pips of profit if that long trade was held open until now. We have seen a quite strong reversal in the US Dollar over the past week or so, after the greenback rose firmly for several consecutive weeks and reached new 1 year+ highs. The move against the Dollar is universal and is benefiting almost every other currency, and the British Pound is no exception. Of course, this may just be a retracement in the long-term bullish trend in the US Dollar, which could reassert itself. My feeling is that the Dollar decline will continue at least until the FOMC Meeting Minutes are released on Wednesday. It is hard to see what other news could change sentiment before then, there is nothing of high importance scheduled before then. I will be happy to take a long trade today from a bullish bounce at $1.2500.
Long
by SmoothJB
GBPUSD Gonna Test Bearish TrendlineHello, everyone! From last week POUND try to pullback the bearish channel, And surely we’ve taken the bull ride! Remember market speculators are still bearish  they will be adding more shorts add in pullback and there will lot of liquidity waiting 1.275xx range! So trade safely with risk management and surely with a plan! Remember, there is no place for luck in trading - only strategy! For best result in trading follow these rules for best result! 1. WHAT IS THE OVERALL TREND? PRICE ACTION WILL GIVE YOU CLUE! 2. . IS PRICE AT A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)? 3. IS PRICE APPROACHING A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)? 4. 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. 5. AND MUST CHECK THE DIVERGENCE.
Long
by mahfuzazim_TA
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
GBPUSDHello Traders Welcome back to another profit day If you like my idea please give me a like and comment, That's will be a great appreciation to do more predictions Here is the full analysis for this pair, Let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. GBPUSD view with smart money concept Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts. The information given is not a Financial Advice. Please support this idea with a like, if you find it useful have a good profit day guys
Long
by Bexi03
GBPUSDThe British Pound fell sharply last week to reach a new 18-month low against the US Dollar. European currencies excepting the Euro are generally weak, but the Pound is showing standout weakness after the Bank of England forecast British inflation would exceed 10% by the end of 2022. The fall in GBP/USD on Thursday was unusually strong and produced a small but significant follow-through in bearish momentum over the next day. With a still-strong US Dollar, and Pound weakness driven by fundamental forecasts, the price here looks likely to fall further over the coming days. However, bears need to beware the support level at $1.2314. I will be prepared to enter a new short trade if we get a daily (New York) close below $1.2314.
Short
by SmoothJB
GBPUSDThe British pound had a horrible session during the day on Thursday, as the 1.26 level has offered massive resistance. The turnaround after the Federal Reserve meeting is short-lived, to say the least, as we have broken down quite drastically. Ultimately, this is a market that I think will continue to go lower based on the size of this candlestick, and of course, the fact that we are closing towards the very bottom of the range. If we break down below the bottom of the candlestick, then it means that we should see plenty of momentum in this market so that it goes much lower. Keep in mind that the US dollar continues to be the strongest currency that I follow in general, and I think that the British pound is not going to be able to put up much in the way of a fight against it. The Bank of England is looking to keep quite a bit of the asset on its balance sheet, unlike the Federal Reserve, which is looking to run those balance sheets down. This does favor the US dollar and the monetary tightening policy will continue to be the main driver. At this juncture, I think that a breakdown below the 1.25 level signifies that we are going to go down to the 1.23 handle, perhaps even down to the 1.22 level. With that being said, I would expect a short-term rally, but that rally will almost certainly be sold into. I have no interest in buying this pair obviously, but if we were to turn around a break above the highs of the last two days, it would be a very bullish sign, perhaps opening up the possibility of a move to the 50 Day EMA. The 50 Day EMA is an indicator that a lot of people pay attention to, especially as it is now crossing below the 1.30 level. At this juncture, the market looks very likely to continue being bearish, but you may have to go down to short-term charts for entry signals. Those signals continue to be an invitation to get US dollars “on the cheap”, which is exactly the environment we have been in for a while. Ultimately, I do not see how this changes anytime soon, especially as the Federal Reserve is going to do a couple of 50 basis point rate hikes in a row.
Short
by SmoothJB