GBPUSD | Perspective for the new weekThe GBPUSD is trading to a new session high since the beginning of last week and has reached its 32.8% retracement of the week's downward trading range as bears refused to give up. However, from a technical perspective; As at the close of the trading week price action is oscillating right within a strong demand zone that has a memory for buying power that spans over 6 years and we might be looking forward to an opportunity to join a potential retracement wave into 50 to 78.6% retracement before a projected selling opportunity within 1.26 and 1.29 area in the near future.
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Gbpusdsetup
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.
GBPUSDThe British Pound fell sharply last week to reach a new 18-month low against the US Dollar. European currencies excepting the Euro are generally weak, but the Pound is showing standout weakness after the Bank of England forecast British inflation would exceed 10% by the end of 2022.
The fall in GBP/USD on Thursday was unusually strong and produced a small but significant follow-through in bearish momentum over the next day.
With a still-strong US Dollar, and Pound weakness driven by fundamental forecasts, the price here looks likely to fall further over the coming days. However, bears need to beware the support level at $1.2314.
I will be prepared to enter a new short trade if we get a daily (New York) close below $1.2314.
GBPUSDThe British pound had a horrible session during the day on Thursday, as the 1.26 level has offered massive resistance. The turnaround after the Federal Reserve meeting is short-lived, to say the least, as we have broken down quite drastically. Ultimately, this is a market that I think will continue to go lower based on the size of this candlestick, and of course, the fact that we are closing towards the very bottom of the range. If we break down below the bottom of the candlestick, then it means that we should see plenty of momentum in this market so that it goes much lower.
Keep in mind that the US dollar continues to be the strongest currency that I follow in general, and I think that the British pound is not going to be able to put up much in the way of a fight against it. The Bank of England is looking to keep quite a bit of the asset on its balance sheet, unlike the Federal Reserve, which is looking to run those balance sheets down. This does favor the US dollar and the monetary tightening policy will continue to be the main driver. At this juncture, I think that a breakdown below the 1.25 level signifies that we are going to go down to the 1.23 handle, perhaps even down to the 1.22 level. With that being said, I would expect a short-term rally, but that rally will almost certainly be sold into.
I have no interest in buying this pair obviously, but if we were to turn around a break above the highs of the last two days, it would be a very bullish sign, perhaps opening up the possibility of a move to the 50 Day EMA. The 50 Day EMA is an indicator that a lot of people pay attention to, especially as it is now crossing below the 1.30 level. At this juncture, the market looks very likely to continue being bearish, but you may have to go down to short-term charts for entry signals. Those signals continue to be an invitation to get US dollars “on the cheap”, which is exactly the environment we have been in for a while. Ultimately, I do not see how this changes anytime soon, especially as the Federal Reserve is going to do a couple of 50 basis point rate hikes in a row.
GBPUSDThe GBP/USD had a difficult performance in April as the strength of the US dollar continued. The pair attempted to recover on Friday but it found a strong resistance at 1.2615. It has now pulled back and moved slightly below the 25-day and 50-day exponential moving averages (EMA). The Stochastic Oscillator moved from the overbought level.
Therefore, the pair will likely keep falling as investors target last month’s low of 1.2410. It will then bounce back after the BOE decision.
GBPUSD - OUTLOOK GBPUSD - OUTLOOK
GBPUSD has simply responded to DXY movements and it will stay this way until after the HIKE RATE, please read the DXY post as this will help you understand this post.
GBPUSD still has room to dip further and I expect another dip before we have a bullish impulse. It's a waiting game and we need to wait for the HIKE RATE dust to settle before we take a trade.
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Pip count this week 💰🏆 +1035 pips
WTI SHORT / 74 pips ✅
GBPUSD LONG / -26 pips ❌
WTI SHORT / 185 pips ✅
WTI SHORT / -10 pips ❌
GOLD BUY / 70 pips ✅
GOLD SELL / 170 pips ✅
WTI SHORT / 200 pips ✅
GOLD SELL / -30 pips ❌
GBPUSD SELL / 67 pips ✅
GOLD SELL / 30 pips ✅
WTI SHORT / 60 pips ✅
WTI SHORT / 130 pips ✅
GBPUSD SELL / -30 pips ❌
GBPUSD SELL / -15 pips ❌
WTI SELL / -70 pips ❌
WTI BUY / 100 pips ✅
GBPUSD SELL / 20 pips ✅
GOLD SELL / 110 pips ✅
18 trades taken
12 wins ✅
6 losses ❌
66% win rate
GBP/USD Full Analysis , Best Place To Buy It, Next Days OpinionThis is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
Mid term forecast of gbp/usdZEYAN here!!!!
I'm looking at the market as a bear, and as far as I can tell, in the medium term, it's more bearish then bullish
This is a general idea of how I view the market; I use algorithms to determine trend and different entry techniques; please do not take this information at face value; conduct your own research.
If you want me to analyse your charts, please let me know in the comments.
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This is not financial advice; please conduct your own research and use this information as confirmation in addition to your own analysis.
GBPUSD | Good Sell Opportunity.When it comes to the technical analysis of GBPUSD , you might get an impulse to the downside. Based on my technical analysis , there aren't many supports till the Target 1. So you may use this as a sell opportunity. If you are going in, better find a pullback. I have marked a good entry area on the chart; you may use it as an entry area; which used to be a support area . And also don't forget to place the stop just above the entry area.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
GBPUSD SHORTS 📉📉📉Expecting bearish price action on GU as we are in a bearish market strucutre from a HTF premise, price takes out 2 area of buy side liquidity and then quickly reversed with a strong bearish momentum. Market Sentiment indicator tells us that retailers are LONG on this pair and if we apply the contrarian trading approach to the markets we should look for SHORT opportunites.
What do you think ? Comment below..
GBPUSD more downside incoming...?Liquidity was introduced with that quick up move, followed by a semi-violent move in the opposite direction -- a typical institutional play. They will revisit the indicated price range before taking price lower. Use lower timeframe confirmations (e.g. distribution, market structure reversal, etc.) before you enter shorts. GL
Will GbpUsd break under support?Since the beginning of 2022 high of 1.37, GbpUsd is trading downwards making lower highs.
Now the pair is trading in very important 1.3 support and the pressure is clearly on the downside.
In my opinion, the pair will break this support and can drop to 1.25 in the medium term.
Sell rallies is my strategy for this pair and only the price back above 1.32 would change my bearish opinion
GBPUSDGBP/USD seems to have gained traction before testing 1.3000 but the pair faces several resistance levels that could easily cap the rebound. The first hurdle is located at the 1.3040/1.3150 area (static level, 50-period SMA on the four-hour chart) ahead of 1.3080 (static level, 100-period SMA) and 1.3100 (psychological level).
In the meantime, the Relative Strength Index (RSI) indicator stays near 40, suggesting that the latest recovery attempt was a technical correction and that buyers remain hesitant.
On the downside, 1.3000 (psychological level, static level) aligns as key support. In case this level turns into resistance, the next bearish targets could be seen at 1.2970 (April 13 low) and 1.2920 (static level).