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Gbpusdlong

GBP/USD - British Pound US Dollar Strong Bullish after FOMC The U.S. dollar edged higher in early trade Wednesday, boosted by sticky inflation ahead of the latest Fed meeting, while sterling is hit by weak growth numbers. In Europe, GBP/USD fell 0.3% to 1.2523 after data showed that Britain's economy shrank in October, with gross domestic product falling 0.3% from September, the first month-on-month drop since July. The Office for National Statistics stated that exceptionally wet weather might have impacted the data, but this release raises the prospect of a recession and lifts the pressure on the Bank of England to cut interest rates next year even with inflation still above target. Now, at 17:22 Dec. 13Th 2023 i HAVE STRONG BULLISH SIGNAL I hae explaiend on the chart, where I have sold and bought GBP,where I have taen profit, reduced or added aggressively my positions Trend Bullish Technical Summary Type 5 Min 15 Min Hourly Daily Monthly Moving Averages Buy Buy Strong Buy Strong Buy Neutral Technical Indicators Sell Strong Buy Strong Buy Buy Strong Buy Summary Neutral Strong Buy Strong Buy Strong Buy Buy Prev. Close 1.2618 Bid 1.2615 Day's Range 1.2614-1.2623 Open 1.2616 Ask 1.2624 52 wk Range 1.1803-1.3146 1-Year Change 2.35%
Long
by DaveBrascoFX
GBPUSD on it's way to 1.29?Hello traders and the entire Tradingview Community! Last week, I had advised you to buy GBPUSD@1.2620 level. If you followed my idea, you have made over 130 pips profit. Currently, GBP/USD is still holding above the key level around the dynamic support on the 4H chart . If price continues to hold above 1.2670, we can expect GBP/USD to go to 1.2750, 1.28 and even 1.29. I would be willing to buy GBPUSD again if price dips to the 1.2650 level
Long
by YourLazyTrader
4
GBPUSD: Bullish Momentum as the Market Anticipate Fed Rate CutsInflation & Interest Rate According to the Personal Consumption Expenditure (PCE) metric, inflation declined from 2.9% in October to 2.6% in November. Forecasts suggest a projected 2.4% inflation rate in 2024, attributed to a more stringent monetary policy and decreased international commodity prices. Notably, 17 out of 19 Federal Reserve officials anticipate a lower policy rate by the end of 2024, with the median projection indicating a three-quarters of a percentage point decrease from the current range. The prospect of reduced interest rates tends to discourage foreign investment, thereby decreasing the currency's relative value. Consequently, we anticipate a weakening dollar and a bullish outlook for FX:GBPUSD . Technical Analysis On January 5, 2023, GBPUSD experienced a rebound precisely at the EMA200 Line and the bullish trendline. Along the bullish trendline, a swing low was formed, accompanied by a bullish Marubozu candlestick. Notably, the price broke out of the descending broadening wedge, signaling a potential continuation of the prevailing trend. Furthermore, the MACD indicator exhibited a golden cross, indicative of robust bullish momentum and suggesting a trajectory toward the designated target area. It is essential to note that the analysis will no longer hold validity once the target/support area is reached. Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on GBPUSD." Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below!
Long
by financialfreedomgoals101
GBPUSD | Bullish outlookGBPUSD is in a big uptrend and has only now seen some big bearish moves at the start of the year. ----- GBPUSD hasn't really made a new low and is still holding the 1.26100 level pretty hard. ----- If we see big bullish moves in the upcoming week. I will be looking for a break of the resistance level and then a retest of the resistance zone and new highs being made. ----- When this happens I will be looking for long positions. ----- Let me know what you think!
Long
by FX_Unlimited
100 Pips profit hit on GBPUSD buy, is 1.29 next?Hello traders and the Tradingview community, our GBPUSD buy from yesterday at 1.2620 hit over 100 pips profit today. Although price has pulled back a little, it is likely that the uptrend may continue. The circular region highlighted in my chart is the key, as long as price continues to stay above this level, there's a chance that GBP/USD may reach 1.29. My preferred strategy is to buy the dips in GBP/USD, I will update this idea when I have a new entry available for GBPUSD.
Long
by YourLazyTrader
1
GBPUSD Trading Plan - 05/Jan/2024Hello Traders, Hope you all are doing good!! I expect GBPUSD to go Up after finishing the correction. NOTE: There is potential that it can take last low but the bias will be still up. Look for your BUY setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Long
by For3xScalper
2
GBPUSD: Morgan Stanley changes US dollar forecast to neutral amiMorgan Stanley updated its outlook for the U.S. dollar, switching to a neutral stance, sharply departing from its previous forecast for an 8% rise in the dollar spot index in the fourth quarter. Two this year. This adjustment was made in response to the Fed's recent dovish stance and the resulting decline in US Treasury yields. The bank's dollar spot index fell just 0.2%, prompting a reassessment of its currency strategy. Given the changing economic situation, Morgan Stanley strategists are now advising clients to avoid short positions in the Eurodollar. Instead, it recommends shorting the euro against the yen to protect against currency fluctuations that may occur in the current market environment. This guide highlights strategic turning points in foreign exchange trading, in line with the latest economic indicators and central bank policy directions.
Long
by Chart_MasterPro
💡 GBPUSD: Forecast January 3GBPUSD continued to fall sharply in the past session, it broke the lower border of the rising price channel and approached the important support zone of 1.26. This is considered the last stop for the buyers because if it is broken, the double top reversal pattern will be confirmed and the bullish structure will also be broken, then it is likely that the price will extend its downward momentum to 1.24. If you still have a buying position, you should consider exiting early or placing SL below this 1.26 level.
Long
by Stone_Haven
2
GBP/USD tends to increase when it meets supportThe GBPUSD has been forming an upward structure with higher highs after breaking above a key downtrend line in early November. Although the GBPUSD's uptrend came to a temporary halt at the four-month high level of 1.2826, the completion of the golden cross between the 50- and 200-day SMAs is expected to provide upside momentum. However, during the European session on Tuesday, the GBPUSD fell sharply during the day as the USD rose sharply and formed a death cross downward structure in the 4H timeframe, potentially creating more uncertainty for the GBPUSD in the near term. Now, we believe that as long as Wave 4 of the "upward impulse waves" structure has not been broken, the end of the "upward impulse waves" is still worth looking forward to. Given that the short-term oscillators are continuing to provide cautiously positive signals, the bulls may try to eliminate the latest weakness and overcome the December resistance at the 1.2794 level. A break above this resistance could open the door to a four-month peak at 1.2826. If it fails to stay here, the GBPUSD could move towards the June high of 1.2847 until it reaches the 1.2900 level. On the other hand, if the GBPUSD reverses lower, several previous support levels at 1.2642 and 1.2612 could now become the initial line of defense. A break below that bottom could see the price fall to recent support at 1.2611, or even lower, with upward Wave 4 1.2500 likely to provide a correction. Overall, risks remain cautiously tilted to the upside in the near term, even though the GBPUSD rally appears to be losing its momentum. To change this situation, the price cannot go below a series of key supports or the uptrend will be reversed. It is recommended to buy the dips.
Long
by carefulLion07pab
1
GBPUSD is trending upSupported by positive market sentiment, GBPUSD rose above 1.2800 on Thursday and settled at the 61.8% Fibonacci retracement level at 1.2740 (from July 14 high of 1.3142). to an October 4 low of 1.2037). The rising 20-day exponential moving average (EMA) is placed at 1.2670, projecting continued upside support for the British pound. The relative strength index (RSI) has risen above 60. The sustained work on these technologies will trigger strengthening, the target gem completing the "upward impulse waves" at 1.3000. On the downside, activity below minor support at 1.2698 could cause trading sentiment to return to neutral. However, if free support at 1.2499 is maintained to prevent a downturn, further recovery phases remain beneficial. From a broader perspective, the action starting from the midpoint at 1.3141 is seen as a corrective pattern from the upside at 1.0351. Move up from 1.2036 is considered the second in progress (of this pattern). The upside is expected to be limited at 1.3141 to form the third component. At the same time, support functioning beyond 1.2499 would indicate the start of the third part of the uptrend. In terms of trading, buying at low prices is the recommended strategy.
Long
by carefulLion07pab
GBPUSD → Falling From Resistance! Should We Long or Short??GBPUSD touched the Resistance Zone and fell into the 30EMA ribbon, putting a slight pause on the fall. Will the price fall further or are we about to make contact with the Resistance Zone again? How do we trade this? 🤔 I do not believe a short is reasonable here because we don't have enough bear strength on the chart. Wait for another rejection at Resistance or wait for the price to fall and find support to enter a long. There are two potential long entries, at the Support Zone around 1.21150 and above the current Resistance Zone around 1.29. Both zones need to establish support and show confirmation to justify a long entry. This includes a bull signal bar closing on or near its high followed by a strong bull candle closing on or near its high. Until then, it's best to wait on the sidelines for a better opportunity! 💡 Trade Ideas 💡 Long Entry: 1.21150 🟥 Stop Loss: 1.18650 ✅ Take Profit: 1.26150 ⚖️ Risk/Reward Ratio: 1:2 Long Entry: 1.29000 🟥 Stop Loss: 1.26450 ✅ Take Profit: 1.34100 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Trading Range after Bull Run, Bias to Long. 2. Macro Trend is Bearish, Use Caution at Weekly 200EMA. 3. If in Short Position, hold until Support Zone. 4. If not in a Position, Wait until Support to Long. 5. RSI near 53.00 under Moving Average, Bias to Short. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering