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Gbpusdlong

GBP/USD Reversal Analysis: Potential Reversal at Near-Term SuppoThe GBP/USD currency pair has shown signs of potential reversal as it approaches a critical support level. A detailed analysis suggests that a bullish reversal may be imminent. Technical Analysis: Support Level: The pair is currently approaching a significant support level, indicating a potential area for a reversal. This support level has historically shown resilience and could act as a launching pad for a bullish movement. Bollinger Bands: The Bollinger Bands indicator also suggests a potential reversal, with the price approaching the lower band. This could indicate oversold conditions and a possible bounce back towards the upper band. RSI (Relative Strength Index): The RSI is showing signs of divergence, with the price making lower lows while the RSI is making higher lows. This divergence often precedes a reversal in price direction, adding weight to the bullish case. Trade Recommendation: Entry: Consider entering a long position near the support level, ideally after confirmation of a bullish reversal pattern such as a bullish engulfing candlestick pattern or a bullish divergence on lower time frames. Stop Loss: Place a stop loss below the support level to manage risk in case of a breakdown. Target: The initial target could be set at a resistance level or a previous swing high, with potential for further upside if the bullish momentum strengthens. Disclaimer: Trading forex involves substantial risk of loss and is not suitable for all investors. The analysis provided here is for informational purposes only and should not be construed as investment advice or a recommendation to trade. Always perform your own due diligence and consult with a qualified financial advisor before making any investment decisions. Past performance is not necessarily indicative of future results. Trading carries risks, and it's essential to only trade with capital you can afford to lose.
Long
by Maven_Trader24
Educational GBPUSD Long 4/15/24On a high time frame POV, price has dopped to the 0.5 fib and tapped into a liquidity level. On the Medium time frame, you can see price has shifted into an uptrend, making HHs and HLs. You can see this morning price dropped to its golden pocket area. Along with the golden pocket, we had the previous day POC, and the developing day VAL. On the low time frame, price dropped to create a failed auction below our NY IB. I went long on the reclaim of the IB Low. My TP1 was hit at the VWAP, I will look for TP2 at the dVAH/IB high.
Long
by peytonfin2
1
Last chance for the GBP/USD bulls, key S/R levelsHello traders, GBP/USD has fallen massively post the US CPI data release last week. While I expected price to fall upto the 1.2520 zone, I did not expect the 1.12520 horizontal support to break down. Looking at the chart, we can plot a price channel and currently, the price seems to be at the lower trend line of the price channel. So, in my opinion, this is the last level which the bulls must defend. If the 1.2440 level holds, then we can consider buying GBP/USD@1.2440-1.2460 with targets at 1.2520 and 1.2580 respectively.
by KaltoireCapital
4
GBPUSD → Trade Analysis | BUY SetupHello Traders, here is the full analysis. Watch strong action at the current levels for BUY . GOOD LUCK! Great BUY opportunity GBPUSD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
1
GBPUSD Longs from 1.24000 up towards 1.25500This week, my bias for GBPUSD is to pursue buying opportunities to address significant imbalances above and to target the recent supply zone. Given the proximity of price to my 10-hour demand zone, I anticipate a temporary bullish move toward the supply area. With price currently exhibiting slower movement, I'll wait for an accumulation phase to develop before entering buy positions. Once in buys, I aim to drive price up toward the 18-hour supply zone, where I'll consider selling positions to capitalize on the pronounced bearish trend. While the trend is strongly bearish at present, I expect a pullback to occur before initiating any actions in line with this strategy. Confluences for GU Buys are as follows: - Price left so many imbalances above that need to be filled. - In order for price to continue the bearish trend price must pullback up - Approaching a really nice 10hr demand that has caused a BOS to the upside. - DXY is also near a good supply zone so could expect the dollar to drop a bit this week. P.S. If price breaks below the 10-hour demand zone, which I anticipate holding, there is a robust daily demand level below that. However, if this scenario does not materialize, I will simply wait for a pullback to consider potential selling opportunities. Have a great trading week ahead guys!
Long
by Hassan_fx
gbpusd long signalGBP/USD is the forex ticker that shows the value of the British Pound against the US Dollar. It tells traders how many US Dollars are needed to buy a British Pound. The Pound-Dollar is one of the oldest and most widely traded currency pairs in the world. Follow the live GBP/USD rate with the chart and keep up to date with Pound-Dollar news and analysis. Plan your trades with the GBP/USD forecast and key pivot points data and support and resistance levels. GBP/USD extends losses and trades at fresh multi-month lows below 1.2450 even after the January month UK GDP was revised higher to 0.3%. The negative shift seen in risk mood fuels another leg higher in the USD and drags the pair lower. GBP/USD stays in the lower half of the descending regression channel and the Relative Strength Index (RSI) indicator on the 4-hour chart holds slightly above 30, suggesting that the pair has some more room on the downside before turning technical oversold. 1.2500 (static level, psychological level) aligns as first support before 1.2450 (lower limit of the descending channel) and 1.2420 (static level from November). On the upside, first resistance is located at 1.2550 (mid-point of the descending channel) before 1.2590 (200-day Simple Moving Average).
Long
by Mark804
GBPUSD: UPDATE 11/04/2024Dear Traders, Hope you are doing great, we have an excellent buying opportunity. Yesterday price fell significantly mainly due to news came out in favour of USD, making usd the strongest currency against others. This brought huge selling volume in the market, leading our last GBPUSD idea to fail badly. The reason why we think price may rise due to so many gaps price has left behind. In our view price is likely to fill the liquidity void area before its next big move. If you like our idea then do consider liking and commenting.
Long
by Setupsfx_
7
GBP/USD back to support level, time to buy?Hello traders, in my yesterday's GBP/USD analysis published 2 hours before the US CPI data release, I predicted that GBP/USD will most likely fall towards the support level near 1.2550. (previous idea attached below) As you can see, GBP/USD is back to the support zone, price went as low as 1.2520. So, I am looking at the possibility of a buy entry here. If price doesn't break this support zone, I would recommend buying GBP/USD@1.2520-1.2545, with Stop loss below 1.2480 and TP at 1.2660 and 1.2710
Long
by KaltoireCapital
2
GBPUSD BUY | Trading Analysis SetupHello Traders, here is the full analysis. The completed correction, recovery and formation, continuation of growth. GOOD LUCK! Great BUY opportunity GBPUSD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
3
How will US CPI data impact GBP/USD?Hello traders, with CPI data coming out in less than 4 hours, let us take a look at the 4H chart of GBP/USD. The situation on the 4H chart is definitely bullish as price has bounced off the 1.2540 support level and currently it is consolidating above the 100 period moving average. However, spikes or dips during CPI can not be ruled out. So, is there is a dip to the support zone or at least 1.26 level, I would consider buying GBP/USD. Similarly, if it spikes up to 1.28 and fails to break 1.28, I would consider selling. Either way, I would trade after the data is released.
by KaltoireCapital
2
The GBP didn't short itself. If one would have checked the recent flightlogs of the GBP performance he might have been astounded what he would discover: GBP emerges from the first trading week of the year as the strongest currency and the signs look great for a further rally of the pound: 🟢GBP Positive:🟢 - 🟢 The PMIs in the UK have recently surprised on the upside and so there is light at the end of the tunnel, in contrast to the European counterpart, which has only surprised with more and more negative PMIs - 🟢 Although wage pressure is falling, it remains high by international standards - 🟢 There are signs of a recovery in both retail sales and GDP for 2024 - 📊🇬🇧 Inflation will fall quickly and reach 2% mark as early as Q2 2024🟢 - 🟢 That said given the better economic performance it is doubtful whether the BOE will actually cut interest rates as early as its sister from the ECB -> 🟢 I think May would be a realistic scenario for a 1st rate cut by the BOE ✅️ But as every story that sounds to good to be true, the longterm outlook brings some serious concerns for the so far marvellous UK dream story: 🔴GBP Negative:🔴 - 🔴GDP was recently significantly weaker (-0.3) than expected (0.0) - 🔴Industrial production also surprised negatively in relation to expectations at 0.4 - 🔴However, the significantly weaker labour data recently, in which bonus payments in particular surprised to the downside and raised one question in particular, weighs even more heavily and will bring much more rate cuts forward than the BOE and the market are expecting right now. Conclusion: The outlook for the pound is starting to brighten, but overall the negative factors are likely to outweigh against the USD in the longterm and so I see a promising opportunity to short the GBPUSD (after another rally) from way above. The 1.32 - 1.33 zone would be ideal. (For everyone who made it this far I have an extra for you: A small quiz in the comments ;) If someone wants to buy the GBP now, a long trade in GBPCHF is a good idea, which I explain in my following trade idea here:
Short
by PrimeTrading
5
GBPUSD: Shift to Bullish Order Flow (CPI High Impact News)GBPUSD has recently shifted to a bullish institutional order flow, prompting us to identify key areas of interest conducive to the bullish bias . Currently, we're observing a mitigation block situated at premium prices , serving as an initial entry point for our bullish trajectory. Alternatively, should the premium point not materialize, we await a dip into the discount sell stops , offering viable buying opportunities post-confirmation. This bullish sentiment is reinforced by a low resistance liquidity zone, strategically positioning us to capitalize on favorable trading conditions. By aligning our strategies with areas of low resistance, we enhance our chances of success in navigating the market dynamics. Today, we're also expecting the CPI News release , which may inject high volatility into the market , potentially favoring bullish movements . Stay tuned for updates. Please watch my GBPUSD analysis from long-term to short-term below. Kind Regards, The_Architect
Long
by The_Archi-tect
GBP/USD : Will it reach 1.29 level?Hello traders, let us take a look at the daily chart in GBP/USD. First of all, I would like to draw your attention towards the highlighted elliptical zone in the chart. If you look at the price action, you will see that there are signs of reversal in this zone. The last daily candle indicates bulls are back in the game Secondly, the horizontal support level has remained unbroken so far which indicates there is ample buying interest in the 1.2540-1.26 zone. A combination of these two factors gives us a bullish bias in GBP/USD. In my idea published on 3 April, I already recommended buying at the 1.2540 level. So, my plans remain the same, I would continue to buy the dips in GBP/USD as long as the support zone remains unbroken.
Long
by KaltoireCapital
9