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Gbpusdidea

GBPUSD - daily outlookIn my analysis of GBPUSD, I have identified a bullish outlook with a potential target at 1.29078 & 1.29785 GBPUSD has been exhibiting a series of higher highs and higher lows, indicating upward momentum. The recent price action suggests a bullish bias, with the pair gaining strength against the US dollar. Remember to set appropriate stop-loss orders and manage your risk effectively. The forex market can be volatile, and it's crucial to adapt your strategy if market conditions change.
Long
by saintmaximuz
GBPUSD Trade SETUP H4GBP/USD closed at the 1.2716 level. Based on my limited knowledge, the support area for GBP/USD is at 1.2700. If it breaks, the market may move towards the next support area at 1.2600. Similarly, the resistance area for GBP/USD is at the 1.2775 level. If it breaks, GBP/USD may reach 1.2850. Keep an eye on these levels. If a candle rejects the resistance area, you can sell and set the take profit at the support level. A stop loss of 35 pips is recommended. I hope your trades turn out to be profitable. Disclaimer: The information provided is for educational purposes only and should not be considered as financial advice. Trading involves risks, and decisions should be made based on personal judgment and analysis.
by ShaaniReal
Resistance at 1.267: Key Level to Watch After BoE Rate Decision The UK continues to struggle with high inflation, as demonstrated once again this morning when headline inflation exceeded expectations at 8.7%, surpassing the projected 8.4%. Core inflation also outperformed, registering a 7.1% figure compared to the expected 6.8%. This divergence emphasizes the contrast between the UK and its counterparts in the US and Europe. Tomorrow, the Bank of England is set to announce its interest rate decision, and there are expectations of further tightening from the central bank. Given the elevated level of inflation, the bank may have little choice but to maintain a hawkish stance. Last week, the GBPUSD initially tested the support level at the previous resistance of 1.250. However, that brief decline was followed by four consecutive days of significant gains, ultimately reaching a new high for the year. There was a temporary resistance encountered at a critical level of 1.267. Following tomorrow's rate decision, this level could potentially act as a support area, particularly considering the slight pullback observed in recent days and the elevated RSI (Relative Strength Index). On the other side of the trade, we have Federal Reserve Chair Jerome Powell's comments on the central bank's ongoing battle against inflation falling short of the market's more hawkish expectations. During his testimony to lawmakers, Powell acknowledged that inflation remains significantly above the Fed's target and indicated that raising rates could still be a sensible course of action, albeit at a more moderate pace. Traders particularly took note of the term "moderate," which Powell used to qualify the potential rate increases. We still have one more day of testimony from Powell.
by BlackBull_Markets
BluetonaFX - GBPUSD Triangle OpportunityHi Traders! There is a descending triangle setup here on the GBPUSD 1H chart. This is a bearish setup, with the recent price action showing lower highs and lower lows. The support of the triangle is at 1.28038, and we are looking for a break and a close below 1.28038. If we get this, then we are looking for a target at 1.27814, and below this, there is another target at 1.27678. If we fail to break to the downside, then there are also opportunities to the upside. There was a previous price rejection at 1.28486, so the market might possibly target this level as a resistance test.  Please like, comment, and follow to support us, we greatly appreciate it. Thank you for your support. BluetonaFX 
by BluetonaFX
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