Get started

Gbpusdidea

GBP/USD Weekly Short Strength ConfirmedHey Guys! The Gbpusd Weekly chart formed a Fake Double Top last year which reached its target height level last week. Indicating strong weekly short strength at least to a monthly upward trendline at 1.2247. Considering this is on the weekly chart, a set up like this is quite rare. So although I will be trading through biases long or short like usual, I much rather have short biases form so I can trade along with this weekly short momentum. Just a heads up guys! Have a great day! Ken Disclaimer: This is not Personal Financial Advice.
Short
by TradingForexPriceAction
1
GBP/USDThe Russian invasion of Ukraine has produced a major shock in Europe. The British Pound and Euro have already been in long-term bearish trends but the threat of a war breaking out involving NATO in Europe, though slim, has clearly impacted European currencies except for the Swiss Franc which tends to act as a safe haven. The economic fallout from the sanctioning of Russia has also had a major impact. Friday’s close in this currency pair was the lowest seen since October 2020, with the price ending the week at a new 16-month low, well into blue sky. It is very likely that the price of this currency pair will fall again over the coming week, especially if Wednesday’s FOMC release boost the US Dollar, which is breaking to new long-term highs.
Short
by SmoothJB
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. Please like, comment, share, follow, and join me if you like my analysis.
by Gold_Trading_Expert
3