GBPUSD possible sell zone on FOMC!!GBPUSD (4h) Has broken out of local support on the lower timeframe. As FOMC is coming, the price may pick up to the previous support turning resistance and we could see rejection as the long-term trend is bearish and the daily timeframe has printed a bearish engulfer.
On the retest of previous support as resistance and, upon rejection, a sell trade is high probable.
Gbpusdsetup
GBPUSD is in possible sell zone, UPDATEGBPUSD 4H has created bearish price action with a strong breakdown from daily head & shoulder. Price currently testing the neckline of daily head & shoulder and creating series of lower highs below this resistance level. It is highly likely that the price will continue to drop as the long-term trend is bearish.
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GBPUSD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. 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.
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GBPUSD Gonna Another HighGBPUSD will reclaim next higher liquidity targets, Perhaps 1.181xx. Technically GU created Bullish butterfly pattern in last week, It gonna fly as technical aspect.
Regular Target Profit: 1.181xxx
DISCLAIMER
Remember, there is no place for luck in trading - only strategy!
This analysis can change at anytime without any update and it is only for the purpose of assisting traders to make independent investments decisions. We are the only one person who is responsible for our physical, mental health, relationships, success, and money in our lives. So taking a trading or investment risk on the markets based on this idea. You deserve the profit and you are responsible for your potential loss. Any opinions, news, research, analyses, prices, or other information discussed in this idea.
Here i anticipated by price action, please do not consider investment advice, Because i'm not your official financial advisor. The author of this analysis does not accept liability for any loss or damage.
GbpUsd- Where to sell?Last week I draw attention to the strong 1.14 support for GbpUsd and the possibility of reversal.
Also, in these previous posts, I said that a small inverted H&S can be in place, and 1.16 is confluence resistance given by the neckline and the falling descending trend line.
As expected, the pair broke above this zone and accelerated its gains to a recent top of around 1.17 so far.
However, in my opinion, this is just a correction and GbpUsd should resume its downtrend soon.
1.1750-1.18 is strong resistance and in this zone, I will look for trading opportunities.
Note: If you choose to trade this pair keep in mind its extreme volatility and the bad habit of spiking through support and resistance levels
GbpUsd can rise to 1.1750. Confirmation is needed thoughAfter finding support in pandemic low, GbpUsd has reversed and this reversal combined with the last 24h price action is drawing a potential inverted H&S on our charts.
1.16 is confluence resistance at this moment given by the falling trend line and the neckline of the pattern and a break above would expose important 1.1750 zone resistance.
I'm bullish as long as yesterday's low is intact.
Yesterday's GbpUsd analysis:
GBPUSD 06/09/2022The price is currently ranging in between 1.1601 & 1.1503 creating a new resistance & support. so if the price makes a breakout of the resistance then it could push upto the next resistance at 1.1648 on short timeframe pov. and if price even breaks & closes above 1.1648 on higher tf pov then price might push all the way to 1.1752 & would be breaking out of the downtrend and shift towards an uptrend.
However, if price respects the resistance & breaks out of the support at 1.1504 then it could continue to push down to the previous low at 1.1443.
GBPUSD : Current Situation & Technical , Fundamental View#GBPUSD
- Currently the MARKET SENTIMENT for GBP is on the DOWN SIDE. All MARKETS including STOCKS and STOCKS may be DOWN due to MARKET RISK OFF. It affects the POUND greatly. GBPUSD may be slightly UP after this DOWN.
- Definitely, GBPUSD can go up to the higher SUPPORT LEVEL. The reason for that is because there is a good DOWN SIDE BIAS in the MARKET for USD. But GBPUSD can go down till 1.1300 LEVEL.
And after that the market can go UP, GBPUSD can be BUY to the 1.200 LEVEL if the MARKET SENTIMENT changes and STOCKS and COMMODITIES start going UP. So keep an eye on it. gbpusd
GBPUSD 05/09/2022 to 09/09/2022Price while moving in downtrend it has recent resistance at 1.1600/1.1657 & also creating a new low breaking the previous one. now on a high tf pov price needs to respect 1.1600/1.1657 as resistance if price is to continue to go down in respect to the downtrendline.
And a breakout of the resistance would result in the breakout of the downtrendline leading gj to go for some deepr retracemets all the way to the next major resistance at 1.1755.
GBPUSD LONGPound is in a super downtrend. But as it has now made a double bottom on 1H time frame. I will wait the price to break above 1.5299 , and then retest to make a precise #long entry to catch around 50 - 60 green pips. One must wait to break the 1.5300 which is 15 minutes high/ supply zone in order to enter long.
If you like the idea, please follow the channel.
Keep supporting.
GBPUSD try to retest on 1.143GU not honoured 1.154xx to 1.164xx support; i anticipate GU gonna retest Covid 19 low 1.143xx. UK is Already in a Recession, and Inflation is Set to Hit 14%.
The next Prime Minister of the UK comes to a head on Monday with the announcement expected around 12:30 GMT. The current frontrunner Liz Truss and her allies have made the BoE a political punching bag, dragging Governor Andrew Bailey’s handling of the aftermath of the pandemic into the limelight. Ms. Truss has been making waves in the election race as her plan for the BoE is seen as a threat to the Pound and UK Bonds. Truss’s thoughts on how to manage the Bank of England are adding to a mounting list of threats to the value of the pound and UK government bonds. The main concern stems from Truss’s rhetoric of potentially upending a three-decade-long focus on fighting inflation and telling policymakers to use tools that were discredited in the 1980s. Part of her solution includes a radical shake-up of how Covid debt is treated and a review of the BoE’s mandate. For now, markets aren’t pricing in any major changes for the BoE as GBPUSD weakness has more to do with sentiment around inflation and the strength of the US dollar. Should this come to pass however we could see a selloff in gilts and a selloff in sterling as well, with the prospect of parity to the US Dollar coming into play.
DISCLAIMER
Remember, there is no place for luck in trading - only strategy!
This analysis can change at anytime without any update and it is only for the purpose of assisting traders to make independent investments decisions. We are the only one person who is responsible for our physical, mental health, relationships, success, and money in our lives. So taking a trading or investment risk on the markets based on this idea. You deserve the profit and you are responsible for your potential loss. Any opinions, news, research, analyses, prices, or other information discussed in this idea.
Here i anticipated by price action, please do not consider investment advice, Because i'm not your official financial advisor. The author of this analysis does not accept liability for any loss or damage.