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Gbpusdsell

GBPUSD Looking Descending Triangle🚨 GBP/USD Update OANDA:GBPUSD 🗓️ Date: 25 February, 2024 ⏰ Timeframe: Daily 💡 Given in the chart – ♦️ Blue color -(Descending Triangle ) = D1 ♦️ Red color -Resistance Level = 1.2714 ♦️ Green color -Support Level = 1.2528 The currency pair did not see any good movement in the last week i.e. February 18-24. This is mainly due to the lack of publication of any fundamental news in the last week. The movement of the currency pair for the whole week was only about 70 pips. Analyzing the chart on the Daily time frame, we have identified the presence of an essential Descending Triangle Chart Pattern. The range of this chart pattern is between 1.2528 and 2713. Although this chart pattern indicates a bearish movement, the price needs to break the support level part of the pattern to confirm it. That is, a price position below 1.2528 is mandatory. ✅ As long as the price stays within this range, you can accept Sell entries in the resistance part of the range and Buy entries in the support part according to the bounce trading strategy. Remember that the UK is in an overall economic recession. The economy of a country is directly reflected in the currency of that country. The advice would therefore be to be cautious in accepting entries in any GBP currency pair. 🚫 The currency pair does not currently have any positions to accept entries in Buy positions. If the price can stay above the resistance level of the range i.e. 1.2713, then you can only think of a Buy position. Until then Sell entry is the most profitable. If you like the analysis then please follow and boost the post. Thank you Admin@Green Forex Trading
Short
by GreenFxTrading
GBPUSD Imminent Shorts down towards 1.24000This week, GU presents an intriguing setup as it appears to have made a decisive move. With the pair breaking structure to the downside and the dollar strengthening, it has reinforced a bearish trend in my view, prompting me to consider shorting opportunities. My focus is currently on the 4-hour supply zone, anticipating a Wyckoff distribution to unfold. At present, I don't see any clear buying opportunities, while selling positions align with the prevailing trend. Therefore, I'll await the Monday open to observe how price action around the Asian high unfolds, with the intention of initiating sells. The aim is to target the 1-hour demand zone and capitalise on the trendline liquidity below. Confluences for GU Sells are as follows: - Price left a clean 4hr supply zone with a refined version in which we can expect a bearish reaction to take place. - Price has been moving bearish regarding the recent break of structure to the downside. - DXY is also been moving bullish so it backs the GU downtrend. - Lots of liquidity to the downside like trendline liquidity and Asian lows. - The overall trend of this market like the monthly still shows its a bearish trend. P.S. As it's a bank holiday for the dollar on Monday, I'll proceed cautiously and anticipate limited market activity. However, if my trading edge aligns with all my confirming factors, I'll execute my trades promptly and decisively. HAPPY TRADING!
Short
by Hassan_fx
6
GBPUSD Analysis Read The Caption After closing in negative territory on Tuesday, GBP/USD continued to push lower in the European session on Wednesday and touched its lowest level in over a week below 1.2550. The near-term technical outlook suggests that the pair has more room on the downside before turning technically overbought. January Consumer Price Index (CPI) readings from the US triggered a US Dollar rally in the American trading hours on Tuesday and caused GBP/USD to decline sharply. On a monthly basis, the CPI and the Core CPI, which excludes volatile food and energy prices, rose 0.3% and 0.4%, respectively. Both of these reading came in above analysts' estimates and provided a boost to the USD. CONFIRM TARGET 1.24008
Short
by olivia_Liam_Analysis
GBPUSD analysis read the caption After closing in negative territory on Tuesday, GBP/USD continued to push lower in the European session on Wednesday and touched its lowest level in over a week below 1.2550. The near-term technical outlook suggests that the pair has more room on the downside before turning technically overbought. January Consumer Price Index (CPI) readings from the US triggered a US Dollar rally in the American trading hours on Tuesday and caused GBP/USD to decline sharply. On a monthly basis, the CPI and the Core CPI, which excludes volatile food and energy prices, rose 0.3% and 0.4%, respectively. Both of these reading came in above analysts' estimates and provided a boost to the USD. GBPUSD sell Now 1.25613 Confirm Target. 1.24524
Short
by FxJoseph_7
GBPUSD Technical Analysis and Trade IdeaGBPUSD demonstrates increasing bearish pressure across monthly, weekly and daily timeframes. The breakdown of market structure on each timeframe supports a bearish bias, which we explore in the accompanying video. While a recent retracement hints at a potential short entry, upcoming high-impact data releases for both GBP and USD warrant caution. Strategic Approach: - Patience: It's prudent to observe how the market responds to significant news events before committing to a trade. - Reassessment: Once volatility subsides, re-evaluate the technical landscape for potential short setups in line with the prevailing bearish trend. Important Disclaimer: This analysis serves educational purposes only and should not be considered financial advice. Independent research and thorough risk management are essential before executing any trades.
Short
by fxtraderanthony
GBP/USD Shorts from 1.27400 pro trend idea.My previous scenario (A) for GU unfolded precisely as expected, with the bullish reaction aligning perfectly with the marked demand zone. This week, I anticipate further upward movement towards my supply zone (A) near 1.2400. My reasoning is that price will likely seek to address the significant imbalance in that area before initiating a downward move. Although not the closest point of interest, I also consider scenario (B), wherein price mitigates my 17-hour demand zone. This could trigger a temporary bullish reaction, potentially driving price to reach the marked supply level (A). Confluences for GU Sells are as follows: - Price has broken structure to the downside. - Major imbalance left below the supply level which needs to be filled. - Market trend is overall bearish on the higher time frame. - Aligns with the dollar (DXY) as that's moving bullish currently. - A clear 20-hour supply zone where I anticipate a Wyckoff distribution to take place. - Lots of liquidity to the downside in the form of equal lows and Asia lows. P.S. This idea is in line with the prevailing bearish trend, as price has broken structure to the downside, confirming its direction. Additionally, it aligns with the strengthening dollar (DXY), which I perceive to be on a bullish trajectory. Have a great week ahead guys and happy trading!
Short
by Hassan_fx
2
GBP/USD Longs from 1.25400 back up to 1.27400This week, I'm watching GU closely for a potential uptrend starting from the 11-hour demand zone below. If price reacts as expected, it could fill the gaps left after Friday's NFP. Another possibility is an upward move from the current 3-hour demand area towards a newly identified 10-hour supply zone. While navigating this situation, I exercise caution, especially concerning the 10hr supply zone, despite the presence of relative equal highs. Prior to considering any sell positions, I ensure that additional confirming factors align with my analysis. Nonetheless, my bias leans towards seeking buy opportunities, considering the temporary bullish sentiment prevailing in the market. Confluences for GU Buys are as follows: - Price is near a clean 11-hour demand zone that has broken structure to the upside. - Liquidity above zone so when it gets swept we can expect price to re-accumulate within our zone to then buy back up. - GU has been temporarily bullish as well so it's a pro-trend idea. - There's lots of liquidity to the upside that needs to be addressed as well as some imbalances. - Dollar (DXY) is still looking bearish as well which means more upside is still left for GU. P.S. Examining the higher time frames, we're currently in a consolidation phase with significant liquidity above and below our nearest Points of Interest (POIs). However, for now, I'll stay flexible and adhere to my trading strategy. If price enters any of the zones I've identified, I'll execute my plan accordingly. HOPE YOU TRADERS END THIS WEEK IN BLUES!
Long
by Hassan_fx
2
Gbpusd sell now H1 now move is confirm sell Critical resistance is located at 1.2700 (200-period Simple Moving Average (SMA), 100-period SMA and 50-period SMA). If the pair rises above that level and confirms it as support, 1.2760 (static level) and 1.2780 (static level) could be seen as next bullish targets. On the downside, 1.2650 (Fibonacci 23.6% retracement of the latest uptrend) aligns as first support before 1.2600 (psychological level, static level) and 1.2560 (200-day SMA). GBPUSD sell now 1.27070 Confirm Target 1.26082
Short
by Fx_Jack17
GBPUSD sell now today confirm move is sell guy's don't miss thisCritical resistance is located at 1.2700 (200-period Simple Moving Average (SMA), 100-period SMA and 50-period SMA). If the pair rises above that level and confirms it as support, 1.2760 (static level) and 1.2780 (static level) could be seen as next bullish targets. On the downside, 1.2650 (Fibonacci 23.6% retracement of the latest uptrend) aligns as first support before 1.2600 (psychological level, static level) and 1.2560 (200-day SMA). GBPUSD Sell Now 1.27021 Confirm Target 1.25076
Short
by FxJoseph_7
GBPUSD sell now today confirm chart guy's this best use this GBP/USD continues to move up and down in a narrow band at around 1.2700 early Monday after closing the previous week virtually unchanged. The near-term technical outlook fails to provide a directional clue but the Federal Reserve's and the Bank of England's (BoE) policy announcements later this week could help the pair break out of its range The cautious market mood at the beginning of the week helps the US Dollar (USD) stay resilient against its rivals and makes it difficult for GBP/USD to gather bullish momentum. Investors grow increasingly worried about the potential negative economic impact of escalating geopolitical tensions in the Middle East. Over the weekend, UK navy ship HMS Diamond reportedly shot down a Houthi drone over the Red Sea. Meanwhile, three US troops were killed and dozens were injured on Sunday after a drone strike on a US base near Jordan's border with Syria. In case safe-haven flows dominate the financial markets in the second half of the day, GBP/USD could stay under pressure. GBPUSD SELL NOW 1.27105 CONFIRM TARGET. 1.26270
Short
by Fx_Jack17
Today GBPUSD sell move today confirm chart don't miss this chartThe 200-period Simple Moving Average (SMA) on the four-hour chart aligns as a pivot level at 1.2700. If GBP/USD continues to use that level as resistance, technical sellers could remain interested. In this scenario, 1.2650 (Fibonacci 23.6% retracement of the October-December uptrend) and 1.2600 (psychological level, static level) could be seen as next bearish targets. On the upside, resistances could be at 1.2760 (static level) and 1.2780 (static level) in case GBP/USD stabilizes above 1.2700. GBPUSD SELL NOW. 127446 CONFIRM TARGET 126710
Short
by FxJoseph_7
2
Gbpusd sell now today confirm analysis don't miss this chartGBP/USD holds above 1.2700, where the 50-, 100- and 200-period Simple Moving Averages (SMA) on the 4-hour chart are located. In case this level stays intact as support, 1.2760 (static level) could be seen as next resistance before 1.2780 (static level) and 1.2820 (end-point of the latest uptrend). If 1.2700 fails, technical sellers could take action and open the door for an extended decline toward 1.2650 (50-day SMA, Fibonacci 23.6% retracement of the latest uptrend) and 1.2600 (psychological level, static level). GBPUSD SELL NOW 1.27286 CONFIRM TARGET. 1.26511
Short
by FxJoseph_7
GBPUSD Shorts from 1.27400 down towards 1.26200This week's analysis for GBPUSD is promising. I'm currently anticipating a slight upward movement to reach the nearby Asian high and mitigate the supply zone at a deeper level. Alternatively, if this doesn't happen, I'm prepared for a potential reaction from the 4-hour supply zone above. This particular supply level has triggered a change of character (CHOCH) to the downside and aligns with the 0.78 Fibonacci range. Since the price is in proximity, I'll be patiently waiting for a redistribution within the zone. Subsequently, my plan involves executing sell orders to guide the price down, targeting the trendline and addressing the 3-hour demand zone situated beneath it. Confluences for GBPUSD sells are as follows: - Overall trend of the market is bearish on the higher time frame - Price has caused a new CHOCH to the downside. - New supply zone has emerged that caused this move which aligns with 0.78 fib range. - Trendline liquidity below to target as well as a 3hr demand zone that needs mitigating. - Bullish momentum is slowly dying down and I can see price reversing soon. P.S. While this is my current perspective, I acknowledge the possibility of a temporary bullish scenario due to substantial liquidity to the upside. Therefore, I wouldn't be surprised if the price surpasses my identified supply level and reaches the extreme one ontop at the 10hr LET'S HAVE A GREAT WEEK AHEAD TRADERS AND LET'S CATCH THESE PIPS!
Short
by Hassan_fx
1