GBPUSD: Back to uptrend!Fundamental Overview
The GBP/USD pair has fallen below 1.2600 early on Thursday after reaching a peak of 1.2680 on Wednesday, marking its highest level in a year. In the short term, the technical outlook for the pair appears bearish, as attention turns to the Bank of England's policy announcements. The US Dollar weakened on Wednesday following the release of data showing that the Consumer Price Index only rose 4.9% on a yearly basis in April, below market expectations of 5%. Despite this, the GBP/USD pair was unable to maintain its bullish momentum due to cautious market sentiment.
Gbpusdsetup
Pound to break 1.27 amid BOE rate hike?On Monday, the dollar continued to show weakness against most of its major counterparts as traders awaited the Federal Reserve's acknowledgement of the end of its hiking cycle, while also hedging against the risk of a potential recession. Traders are also keeping an eye on the debt ceiling impasse in Capitol Hill, with the Treasury Secretary warning of possible inability to pay debts by June 1. On Wednesday, U.S. inflation data is expected to indicate whether the Fed needs to take further steps to control inflation.
The pound rose to a more than one-year peak against the dollar on Monday, trading as high as $1.2668, its highest level since April 2022, before slipping slightly below that to $1.2616. The pound is in focus this week ahead of an anticipated Bank of England rate increase on Thursday, expected by many to raise the base rate to 4.5% after voting 7-2 in March to increase it from 4% to 4.25%.
On the 4-hour chart, the price is above the 30-SMA for now, and the RSI is above 50 (although weakening). The price paused at the 1.2650 resistance level after a strong upward movement and is maybe reversing now, with resistance turned support (1.2075) the target to keep an eye on next to the downside. Negative developments with any of the concerns affecting the US or BOE’s rate hike will put 1.650 and 1.2700 in the crosshairs to the upside if the price begins to consolidate where it is now until Thursday.
20 Reasons for buy GBPUSD 🔆MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW☀️
1.✨Eagle Eye: Based on the multi-year double-bottom bear trap formation and bullish momentum on the yearly chart, it appears that the multi-year downtrend is over. We will have a clearer picture once the 2023 candle is formed with some bullish momentum.
2.📆Monthly: While there is a clear downtrend, there are solid reasons to believe that the bulls are in control at this level. There is a consolidation here that has swept all the downside liquidity, and now the price has reached the monthly upside fvg area, which is a decision maker level for the future direction of this pair. The key level for price is 1.2851.
3.📅Weekly: There is a clear bullish structure with a proper Bullish Order Block (BOB) trend, which is supportive and without any weakness. Another 250 point area is open.
4.🕛Daily: Bulls are in power with a buildup formation ready to break another resistance. There is a proper inverted head and shoulder pattern, indicating a bullish move is expected.
😇7 Dimension Analysis
🟢 Analysis Time Frame: Daily
Price Structure: Bullish
Pattern Candle Chart: A triple top upside breakout has been achieved, and now the market is making a strong bullish move as expected.
Volume: Every time a massive volume appears on the bullish candle, it indicates that buyers are much stronger than sellers.
Momentum UNCONVENTIONAL RSI: The RSI has shifted from a sideways to a super bullish zone, which is excellent news.
Volatility Measure Bollinger Bands: The market is walking on the band, indicating that volatility is starting to increase.
Strength ADX: Bullish
Sentiment ROC: GBP is stronger than USD in terms of the monthly rate of change period 1.
✔️ Entry Time Frame: D1
12. Entry TF Structure: Bullish
Entry Move: We will enter at the open.
Support Resistance Base: The buildup base is supportive.
FIB: No need.
☑️ Final Comments: We will buy on a breakout or reversal.
16. 💡Decision: Buy Only
🚀Entry: 1.2630
✋Stop Loss: 1.2550
🎯Take Profit: 1.2866
😊Risk-to-Reward Ratio: 1 to 2
🕛 Expected Duration: 3 days
GBPUSD BUYHey, GBPUSD, there is a huge potential for an upside. After the bullish flag is formed. With breaking the strong resistance 1.22000. And re-test the same area. But the price couldn't break through it. We are waiting for more upsid .Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank you
GBPUSD sell setupthere are two scenarios are possible
market can make rejection here and give a move or go back to main resistance level area and than drop
i am interested in only selling in GBPUSD
look for bearish confirmation on lower time frame and sell GBPUSD with your own money management
always protect your capital and remember that patience pays
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 SUPPORT LEVEL below 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 1.2900 LEVEL. Before that, 1.2350 LEVEL can be SELL. So go to GBPUSD SELL ENTRIES.
A clean mitigationCurrently within the daily internal supply zone and the market printed three black crows as a reversal candlestick pattern. This shows that the market is ready to go bearish and correct this one directional movement inefficiency. The first target should be the fair value gap and ultimately the demand zone to be mitigated and give us a clean bullish entry…
GBPUSD BUYHello, the GBP USd pair is in positive condition. There is a high possibility that the price will go up. After breaking the flag. The pair reached a resistance that it is trying to break through.Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank you
GBPUSD top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPUSD: Next destination!Unexpected upturn in mortgage activity, investors should also look for a sustained rise in inflation
Investors should keep an eye on the inflation rate, which is expected to steadily increase, along with the recent surge in mortgage activity. This could lead to the Bank of England taking action to tighten monetary policy. As a result, the British Pound could benefit from higher interest rates and bond yields compared to the US.
GBPUSD sell setupGBPUSD is testing the strong supply zone . it is a very significant area where market is testing the broken trend line and also the Fibonacci retracement areas
look for bearish confirmation on lower time frames and sell GBPUSD with your own money management always remember that patience is the keys to success
GBPUSD: A strong supply zoneGreetings Fellow Traders:
Midday update for GBPUSD,
We can see that a supply zone is active around 1.2510-1.2540
And for any sustainable upside move that zone needs to be broken in at least 4 hours timeframe...
And before that you can keep your selling positions with mentioned targets in chart.
Good Luck 🍀
GBPUSD top-down analysisHello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPUSD Next Possible MovePair : GBPUSD ( British Pound / U.S Dollar )
Description :
Bullish Channel as an Corrective Pattern in Long Time Frame with a Breakout of the Lower Trend Line and Retracement and will Completed its Retest at Fibonacci Level - 61.80%
Divergence
Break of Structure
Completed " 12345 " Impulsive Waves and " A " Corrective Wave
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.
GBP/USD Technical Analysis and Key Events to WatchThe GBP/USD currency pair recently reached the 1.25240 resistance level, leading to uncertainty in the market. In our previous analysis, we identified potential supply zones at 1.25240, 1.25648, and 1.26252. The currency pair remains technically bullish, as the price is above the 20-day exponential moving average (EMA), and the MACD line is above the zero level.
A bearish divergence is visible on the 4-hour chart, with the MACD signal line indicating bearish control. On the 1-hour chart, the MACD has crossed the zero level, and bearish pressure is evident. The direction of the GBP/USD pair will depend on whether the trendline support holds or breaks and later retests as resistance.
Key fundamental factors to watch next week include the ZEW economic sentiment, Euro Area inflation print, and hawkish rhetoric from the European Central Bank (ECB). These events can impact the GBP/USD pair, making it crucial to monitor them for a better understanding of the market's potential direction.
The following economic events may also influence the GBP/USD pair:
Empire State Manufacturing Index
Claimant Count Change
Average Earnings Index 3m/y
CPI y/y
Unemployment Claims
Philly Fed Manufacturing Index
FOMC Member Waller Speaks
Existing Home Sales
Retail Sales m/m
Flash Manufacturing PMI
Flash Services PMI
To navigate the uncertainty, traders should stay informed, use technical analysis tools, employ risk management techniques, practice patience, and learn from experience. By monitoring key events and employing these strategies, traders can optimize their approach to the GBP/USD market.
Volatility contraction1.22741 which happens to be the first drive, drove price up to give us a liquidity pool which also gave sellers the takeover to correct the inefficiency and to provide the second drive. The second drive advanced in a volatility contraction pattern, the contraction created a swing high high which the got broken by the volatile move. Then eventually a liquidity sweep took place, the market created a small distribution phase to drive price to the demand region. Now price looks to have respected the zone and simultaneously provided a third drive to complete the three drives. This gives us the idea of a young bullish move to make a pullback to the fair value gap, this pullback is expected to reject price to the demand zone…