GBPUSD Longs from 1.25500 up towards 1.28500The current bias for GBPUSD this week is interesting, particularly as it has once again broken structure to the upside, enhancing the favourability of a bullish bias. At the current price, our focus as traders should revolve around how to capitalise on this development. Notably, there are two demand zones (11-hour and 3-hour) that triggered this impulsive upward movement.
Identifying these zones as my Points of Interest (POIs) for potential buys, I plan to wait for a pullback, influenced by its interaction with the previous 4-hour supply zone. Given the respectable reaction observed on Friday, I now anticipate a bearish push downward to address any imbalances left from the previous week. Subsequently, I expect a Wyckoff accumulation to unfold within our POIs, providing the opportunity to enter our buy positions.
Confluences for GBPUSD Buys are as follows:
- Price has just recently broke structure to the upside again validating a bullish bias.
- Lots of liquidity of still left above in the form of asian highs and trend line liquidity.
- Nice unmitigated demand zones left on the 11hr and 3hr (TF) that have caused the BOS.
- Dollar index is still very much so bearish as well and I'm expecting more downside.
- The price also responded to my 4-hour supply zone last week, and this event could serve as the catalyst for a retracement, paving the way for a new upward movement.
P.S. While the general bias for GBPUSD leans bearish, the consistent Breaks of Structure (BOS) strongly support the overarching downward trend of the dollar index. Presently, my focus is on identifying optimal bullish setups. However, if the price enters a significant supply level, I won't rule out the possibility of considering short-term sell positions. Let me know what you guys think of your GBPUSD overview, don't hesitate to drop a comment below !
Gbpusdlongsetup
GBPUSDFX:GBPUSD has been making some interesting higher lows over the last few weeks. It has broken the 1.23962 resistance area and currently doing a retest of the same zone. Are we going to see a further push or price will drop and push further down? That remains to be seen, however my bias in this is Bullish.
On H4, a good rejection of the zone just might trigger the momentum need for the uptrend to continue with targets at the next resistance level 1.26325. If price on the other hand breaks down to the short side, we just might see it come back to the 1.22265 area
Disclaimer:
All trade ideas are given for educational purposes and should not be treated as an investment advice, hence do your due diligence. Past results does not guarantee future results
GBPUSD | 2 Long Scenarios | The Empire will strike backGeneral
GBPUSD fell through the first big support zone (Zone 2) unless a reclaim i am not gonna look for longs currently. Personally waiting for price falling deeper into Zone 1. Marked 2 Scenarios that i would want to see to develop.
Be aware that i usually use LTF (such as the 1 hour chart to plan my entries). Meaning the SLs and RR are not completly correct as shown.
1. Long (Green arrow)
Price moves below Zone 1. Reclaim. Enter on reclaim.
Target: Slightly below Zone 3
Stop- Loss: Depending on the LTF entry i wouldnt want to see it going below Zone 1 again
Time duration: Days, weeks, months, years... ;)
2. Long (Orange arrow)
Price pushes into Zone 1, reacts supportive and then generates a Swing. Enter on breaking of the generated swing.
Target: Slightly below Zone 3
Stop- Loss: A bit below of top of the Zone 1
Time duration: Days, weeks, months, years... ;)
Good luck
Disclaimer:
- This information does not constitute as financial advice and is only for educational purposes. I am not your financial advisor.
- You trade entirely at your own risk
- Make your own research
- Finance and trading is evil, capitalism is bad, duh ;)
GBPUSD Long towards 1.22800 (possibly higher)For today's GU breakdown I will be looking for buys from current price as it has tapped in a nice 6hr demand zone that has caused a BOS to the upside. As we have seen from last week's GU analysis we did anticipate scenario (A) to play out and it did so perfectly. Now, we are looking for buys back up as it has filled in the major imbalances left from before.
On Monday I will be looking for a clean entry where I can continue this trend that GU has set to the upside, possibly causing another rally to the upside and a new BOS. In addition to this, the zone also lies between the 0.78 fib range which is a good confluence that price will respect this AOI. As this is an uptrend I can also expect price to push past the 11hr supply (where the take profit target is) and mitigate the extreme supply above it.
Confluences for GBPUSD Longs are as follows:
- 6hr demand zone lies between the 0.78 range on the fib tool.
- Demand zone has also broken structure to the upside following short term bullish trend.
- Price has completed a wyckoff accumulation schematic and CHOCH'd to the upside.
- Lots of liquidity lying above i.e. asian highs and imbalances that need to be filled.
- Dollar index also looking bearish as well good confluence for GU to then push upwards.
- A lot of rejection candles inside zone as well as a consolidation (good sign that price is going to respect that POI.)
P.S. I am still temporarily bullish, but my overall bias is bearish (looking at the monthly/weekly time frames.) Price has also slowed down and sells are getting exhausted hence the consolidation In our POI. I would be looking to see how this plays out on Monday before CPI, then re assess my next potential trading setups for the rest of the week.
GBPUSD possible buy area!GBPUSD experienced a continuous downtrend in its latest session, but the descent was tempered by a rebound towards the session's close. An interesting observation is the appearance of a bullish pin bar pattern on the daily chart, signaling a reduction in selling pressure. This implies a possible end to the correction phase and an increased probability of the price returning to its upward trajectory, in line with reversal signals seen in the previous session.
GBPUSD Buy zone!From the analysis on the H4 chart, it's evident that the price has recently rebounded from 1.2326, marking it as a retracement support level. Our target is set at 1.2361, which is identified as a retracement resistance level. We've also established Support at 1.2267, a level characterized as a retracement support.
GBP/USD Buy Setup1D Timeframe
Transitioning from a bullish to a bearish trend.
Awaiting confirmation by the market to break the IDM (Inducement) level before proceeding further to the downside.
Alternatively, managing overbought conditions (OB-s).
15MIN Timeframe
Shifting towards a bullish direction.
Looking for market confirmation to breach the IDM level before considering an upward move.
Possible Entry:
Consider entering a trade after confirmation through IDM breakout.
These revisions aim to make the text more concise and clear, emphasizing the key points and actions to be taken in each timeframe
GBPUSD LONG TERM BUY IDEAAug 28
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GBPUSD, to Long in the short-medium termThe GBPUSD outlook has formed a descending triangle which signals a bearish trend in general however after a recent consolidation beneath the base of the triangle and the bulls have managed to break through the descending trendline for a potential retest of the EMA-200 resistance on the 4-HR time frame.
The GBPUSD is set to rise to retest the hypotenuse trendline of the descending triangle.
GBP USD SHORTRisk 0.5%
TP1 = 1:2 RR
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The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios. A full version of the disclaimer is available in our profile description.
GBPUSD long coming up oh well..... i know some are probably still bitter after your OB failed but maybe you might see a chance to go long after all. So it looks the market actually left another valid OB and it might be coming back for a lil re-union. I'm not saying it's a chance for revenge but i'm just saying it might have just been another case of good idea wrong timing.
GBPUSD : Current Situation & Technical , Fundamental View#GBPUSD
- Currently the MARKET SENTIMENT for GBPUSD is slightly UP SIDE. All MARKETS including STOCKS and STOCKS may be UP due to MARKET RISK ON in the past days. It affects the POUND greatly. GBPUSD may be slightly UP this week. Anyway, XXXUSD PAIRS are being BUYed slightly higher because the FED is a bit dovish.
- The price can definitely move up to the resistance level above the GBPUSD. The reason for that is because there is a slightly UP BIAS in the MARKET for USD. But GBPUSD can be BUY until 1.2536 LEVEL. After that, you can SELL at 1.2099 LEVEL. So go to GBPUSD SELL ENTRIES.
GBPUSD : Current Situation & Technical , Fundamental View#GBPUSD
- Currently the MARKET SENTIMENT for GBPUSD is slightly UP SIDE. All MARKETS including STOCKS and STOCKS may be UP due to MARKET RISK ON in the past days. It affects the POUND greatly. GBPUSD may be slightly UP this week. Anyway, XXXUSD PAIRS are being BUYed slightly higher because the FED is a bit dovish.
- The price can definitely move up to the resistance level above the GBPUSD. The reason for that is because there is a slightly UP BIAS in the MARKET for USD. But GBPUSD can be BUY until 1.2382 LEVEL. After that, you can SELL at 1.1580 LEVEL. So go for GBPUSD SHORT ENTRIES.
I have GU going to the 27 extension.I didn't see clear structure but now am seeing price bounced off the Moving Average after it hasd already crossed,also bounce off the 50extension fib level am just waiting for price to line up in all Timeframe to create a HL in the 4H and will take this trade all the way up