💡 GBPUSD: Pressure from sellersSelling pressure came back into play for GBPUSD in the recent session as the price got closer to the 1.2400 resistance zone and produced more clear bearish indicators. Nevertheless, the earlier reversal signs, such as the double bottom pattern and the breakdown of price structure, remain intact. Therefore, it's advisable to maintain your current long positions with the target still set at around the 1.2600 level.
Gbpusdsignal
GBP/USD Technical & Sentiment Analysis - Short-Term OutlookGBP/USD Technical Analysis with Sentiment Data:
Current Price and Support Levels: As of the latest close, GBP/USD is trading at 1.23791. It's important to consider that the current price is in close proximity to significant support levels at 1.23784, 1.23141, and 1.22637. These levels have historically acted as robust areas of price support, potentially attracting buying interest.
Major Resistance Levels: On the other hand, the current price is also approaching major resistance levels within the range of 1.23895 to 1.23897 and 1.24213. These are substantial price zones where traders may contemplate taking profits or initiating short positions if GBP/USD reaches these levels.
Short-Term Outlook: Given the technical analysis, my inclination towards a short position with the target of revisiting the 3rd support level at 1.22637 as a pullback appears technically sound. Should the price fail to breach the immediate resistance levels and begins to retreat, it could discover support around the levels which I've identified.
Sentiment Analysis: It's noteworthy that, based on sentiment data (Myfxbook), 76% of traders are currently in short positions, representing 11,193.20 lots, while 24% are in long positions, accounting for 3,505.61 lots. This indicates a bearish sentiment in the market, with a significantly higher number of traders shorting GBP/USD compared to those taking long positions. Specifically, 35,217 traders are short, while 11,825 are long, which further emphasizes the bearish sentiment.
Additional Considerations:
Market Sentiment: With the majority of traders holding short positions, it aligns with my short-term outlook. However, we have to keep a close eye on market sentiment as it can change rapidly.
Longer-Term Perspective: Maintain a broader perspective even though my primary focus is on the short-term. GBP/USD can be influenced by extended economic trends and political events, so staying well-informed about these influences is imperative.
Routine Monitoring: Continuously monitor price action, market sentiment, and adjust strategy in response to evolving market conditions.
Remember, trading in the forex market carries inherent risks, and it's vital to maintain a well-defined trading strategy and risk management plan. Seek guidance from a financial advisor or conduct further research before executing any trading decisions. VANTAGE:GBPUSD $XM:GBPUSD #GBPUSD #EAForexGlobal
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.
GBPUSD: The USD fell, extending the decline from last weekA less aggressive stance from the Federal Reserve caused the U.S. dollar to weaken somewhat in early European trading on Monday, reaching a six-week low and prolonging the previous week's slide.
The Dollar Index, which measures the US dollar against a basket of six other currencies, dropped 0.1% to 104.782 at 03:20 ET (08:20 GMT) this morning. Last week, it fell more than 1%, marking the biggest decline since the middle of last year.
Following the Federal Reserve's dovish indications regarding additional interest rate hikes during last week's policy-setting meeting, the dollar has declined.
The official jobs report released on Friday, which revealed that US nonfarm payrolls rose less than anticipated in October, supported this tone. According to the data, the US labor market is contracting. added to, which has
GBP/USD rose 0.1% to 1.2384, continuing last week's strong gains ahead of the release of UK GDP data for the fourth quarter later this week.
GBPUSD and GBPJPY 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 Explosion ?The GBPUSD pair has recently exhibited a breakout above a long-standing resistance level. Breakouts above significant resistance points often indicate a potential shift in the trend or momentum.
After a prolonged period of being suppressed under this resistance, the breakout signifies a substantial change in market sentiment. Traders often interpret this as a bullish signal, suggesting that the pair could continue to climb
GBP/USD support zone unbroken, 1.24 in sight?Dear traders, the support zone as highlighted in my chart
has remained unbroken so far. Not only that, we also have a couple
of bullish reversal candlestick patterns including a hammer candlestick
that was formed on 26/10/2023.
So, a combination of these factors can lead to a further recovery
in GBP/USD. Keep in ming that price has already crossed the moving averages
in the lower time frames such as 15 min and 1 Hour
So, as long as the support zone stays unbroken, we can expect GBPUSD
to reach 1.24 in the coming days . My recommendation is to buy the dips
in GBP/USD.
Support level unbroken in GBP/USD, time for 1.24?Hello traders, there was another dip in GBP/USD today and the price
visited the 1.2090 support zone. However, the dip was rapidly
bought and the price has rebounded 60+ pips.
So, my strategy is to buy the dips in GBP/USD as long as the support
zone stays intact. Target would be at 1.2250 and then 1.24
GBPUSD I Potential short from resistance zoneWelcome back! Let me know your thoughts in the comments!
** GBPUSD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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GBPUSD LOSS - Discussing a LOSS & what I could have done BetterHey guys what's up Brandon here..so as promised I am going to give a breakdown as to why I think I lost the GU trade.
This one is entirely my fault as I saw the consolidation where I know liquidity would have been trapped and I chose to ignore it.
I also saw that GU was becoming very exhausted yesterday and I also chose to ignore that as well and now I am paying for that.
I think it is important to note when you know you did shit and don't make excuses for yourself, this is how I've learnt to analyze the way that I do now. I never made an excuse for myself and I am not about to start now.
That being said I welcome your critiques and comments, did you see what I saw? Would you have taken this trade? What would you have done?
Let's try to learn and grow together, Even though I am consistently profitable doesn't mean I've stopped learning and growing.
The more I learn, the more I realize how much I don't know - Albert Einstein
GBPUSD LONG TERM Selling IDEAHello Traders
In This Chart GBPUSD HOURLY Forex Forecast By FOREX PLANET
today GBPUSD analysis 👆
🟢This Chart includes_ (GBPUSD market update)
🟢What is The Next Opportunity on GBPUSD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the ChartS
GBPUSD to Possibly Fall of A Cliff (SELL OPPORTUNITY)Hey guys, what's up Brandon here - So I just entered a sell on this pair (GBPUSD) and I briefly Breakdown as to why I took it
If we look at the details - everything aligns with sells nicely as the momentum is bearish on almost all timeframes with only 1 or 2 suggesting buys
Now on the few timeframes that may be suggesting buys we have to take into consideration that that could be an induction to buy because GU is a bearish market - and my question is why oh why?....Would you want to buy in a bear market
I don't think this ever makes sense because in essence what you are really doing is - believe it or not...CALLING A BOTTOM
And why would you call a bottom when the market is dropping?
I'll take my chances with the sell - I'm prepared to lose as that is one of the things that just comes with the territory so it is what it is
Let me know what you guys think
GBPUSD - Still bearish ✅Hello traders!
‼️ This is my perspective on GBPUSD.
Technical analysis: Here we are still in a bearish market structure from 4H timeframe perspective, so I am looking for a short position. I want price to continue the retracement to fill the imbalance higher and then to reject from bearish order block + institutional mid figure 1.22500.
Fundamental analysis: This week we have a lot of important news on USD. Will be released Interest Rate followed by FOMC Meeting on Wednesday and on Friday NFP day. As well, on Thursday we will see the result of Interest Rate on GBP. Pay attention to the results in order to validate the analysis and try not to trade during the release of the news.
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GBP/USD probable double bottom set-upDear traders, we have the probable formation of a double bottom
pattern in the daily chart. In addition, we also have a bullish reversal
candlestick in the daily timeframe.
A combination of these two factors gives us a reversal bias in GBP/USD.
As per my previous trade idea, I have bought GBPUSD@1.2090 with SL below 1.20
and TP at 1.2350 is on my mind.
GBPUSD SELLING MORE TILL STRONG SUPPORT ZONE !!!HELLO TRADERS,,
As i can see this chart GBPUSD is still showing us a bearish trend continuation with technical view we always try to draw a very simple chart for our community to understand levels and trends easily we appreciate Ur support and love kindly share Ur trade ideas with us so it will be help full for trader community ...
Stay Tuned for more updates
GBP/USD probable double bottom set-up in the daily chartDear traders, we have the probable formation of a double bottom
pattern in the daily chart. In addition, we also have a bullish reversal
candlestick in the daily timeframe.
A combination of these two factors gives us a reversal bias in GBP/USD.
A potential long entry in GBPUSD@1.2080-1.2110 with SL below 1.20
and TP at 1.2350 is on my mind.
GBPUSD | Perspective for the new week | Follow-upDespite a setback in UK Retail Sales last Friday, where September's retailers' receipts fell by -0.9% against the expected -0.1%, the Pound Sterling is finding its footing amidst a weakening US Dollar (USD). As it finds demand around the $1.21000 area; the GBPUSD pair is capitalizing on the current market conditions, aiming to secure gains in the face of global uncertainties.
Looking ahead, market enthusiasts are eyeing Tuesday's UK Labor and Purchasing Manager Index (PMI) figures. Forecasts suggest a decline of 198K job additions in August, a slight improvement from July's -207K. Additionally, there is optimism for an uptick in the UK preliminary PMI, with the PMI Composite expected to print at 48.8, compared to the previous 48.5.
Federal Reserve (Fed) Chairman Jerome Powell's recent comments regarding significant tightening in financial conditions, particularly with higher bond yields, might influence policy decisions, potentially weakening the US Dollar. However, it's essential to acknowledge the ongoing Israel-Hamas conflict, which could prompt investors to seek refuge in safe-haven assets, possibly bolstering the USD against its counterparts.
As we step into the new week, we approach the market with flexibility, keeping our strategies adaptable to changing scenarios.
GBPUSD Technical Analysis:
Will the pound find solid support at the $1.2000/$1.18000 zone, or are we heading towards a potential breakdown and a possible sell-off? The stakes are high, and we're on the edge of our seats!
The spotlight is on high-impact economic events from both the US dockets for clues. Brace yourselves as the anticipation and the actual events may trigger sharp price movements that could present incredible trading opportunities.
In this video, we've analyzed the Daily and 4-hour timeframes, exploring bullish and bearish sentiments to uncover the most promising trades for the week ahead. We've delved into key levels, trendlines, and support/resistance points, unveiling essential insights into the current market structure.
Keep a close eye on that critical confluence at $1.21800. It's a decisive moment where both sellers and buyers are vying for control, and how the market reacts here will set the course for GBPUSD in the upcoming days.
Stay connected and join the conversation in the comment section to stay updated on the latest developments. Thank you for tuning in, and get ready for more enlightening insights into GBPUSD in our upcoming content. Buckle up for a thrilling journey ahead! Happy trading!
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It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment.
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