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Gbpusdtrade

GBP/USD Reversal Analysis: Potential Reversal at Near-Term SuppoThe GBP/USD currency pair has shown signs of potential reversal as it approaches a critical support level. A detailed analysis suggests that a bullish reversal may be imminent. Technical Analysis: Support Level: The pair is currently approaching a significant support level, indicating a potential area for a reversal. This support level has historically shown resilience and could act as a launching pad for a bullish movement. Bollinger Bands: The Bollinger Bands indicator also suggests a potential reversal, with the price approaching the lower band. This could indicate oversold conditions and a possible bounce back towards the upper band. RSI (Relative Strength Index): The RSI is showing signs of divergence, with the price making lower lows while the RSI is making higher lows. This divergence often precedes a reversal in price direction, adding weight to the bullish case. Trade Recommendation: Entry: Consider entering a long position near the support level, ideally after confirmation of a bullish reversal pattern such as a bullish engulfing candlestick pattern or a bullish divergence on lower time frames. Stop Loss: Place a stop loss below the support level to manage risk in case of a breakdown. Target: The initial target could be set at a resistance level or a previous swing high, with potential for further upside if the bullish momentum strengthens. Disclaimer: Trading forex involves substantial risk of loss and is not suitable for all investors. The analysis provided here is for informational purposes only and should not be construed as investment advice or a recommendation to trade. Always perform your own due diligence and consult with a qualified financial advisor before making any investment decisions. Past performance is not necessarily indicative of future results. Trading carries risks, and it's essential to only trade with capital you can afford to lose.
Long
by Maven_Trader24
GbpUsd- Correction could offer us a good sell entryIn my post from last week regarding FX:GBPUSD , I mentioned my anticipation of a drop below the 1.25 support zone, along with an expectation for a continuation of the downtrend by 500 pips. These expectations remain unchanged. Moreover, with recent inflation data released from the UK surpassing expectations, there's a possibility of a relief rally being triggered. I plan to capitalize on this correction by initiating short trades, primarily focusing on levels above 1.25. A deviation from this outlook would occur with a daily close above 1.2650. As previously stated, my medium-term target for GBPUSD is the 1.2 zone.
Short
by Mihai_Iacob
3
GBP USD chartGBP/USD declined toward 1.2450 in the American session and erased a large portion of its daily recovery gains. The USD continues to outperform its rivals following the better-than-forecast data and doesn't allow the pair to preserve its recovery momentum. Bears have pushed the pair back to the bottom of the monthly descending channel, at 1.2440, which is being tested at the moment. Last Friday’s low is right below there, at 1.2430. A clear break of that support area clears the path towards 1.2370. Further down there is no support until 1.2220. On the upside 1.2505 level should be cleared to advance towards 1.2565, where an unmitigated order block may provide a fresh boost for bears GBP USD confirm signal
Short
by JohnHarry_7
GBPUSD: UPDATE 11/04/2024Dear Traders, Hope you are doing great, we have an excellent buying opportunity. Yesterday price fell significantly mainly due to news came out in favour of USD, making usd the strongest currency against others. This brought huge selling volume in the market, leading our last GBPUSD idea to fail badly. The reason why we think price may rise due to so many gaps price has left behind. In our view price is likely to fill the liquidity void area before its next big move. If you like our idea then do consider liking and commenting.
Long
by Setupsfx_
7
GBPUSD BUY | Trading Analysis SetupHello Traders, here is the full analysis. The completed correction, recovery and formation, continuation of growth. GOOD LUCK! Great BUY opportunity GBPUSD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
3
The GBP didn't short itself. If one would have checked the recent flightlogs of the GBP performance he might have been astounded what he would discover: GBP emerges from the first trading week of the year as the strongest currency and the signs look great for a further rally of the pound: 🟢GBP Positive:🟢 - 🟢 The PMIs in the UK have recently surprised on the upside and so there is light at the end of the tunnel, in contrast to the European counterpart, which has only surprised with more and more negative PMIs - 🟢 Although wage pressure is falling, it remains high by international standards - 🟢 There are signs of a recovery in both retail sales and GDP for 2024 - 📊🇬🇧 Inflation will fall quickly and reach 2% mark as early as Q2 2024🟢 - 🟢 That said given the better economic performance it is doubtful whether the BOE will actually cut interest rates as early as its sister from the ECB -> 🟢 I think May would be a realistic scenario for a 1st rate cut by the BOE ✅️ But as every story that sounds to good to be true, the longterm outlook brings some serious concerns for the so far marvellous UK dream story: 🔴GBP Negative:🔴 - 🔴GDP was recently significantly weaker (-0.3) than expected (0.0) - 🔴Industrial production also surprised negatively in relation to expectations at 0.4 - 🔴However, the significantly weaker labour data recently, in which bonus payments in particular surprised to the downside and raised one question in particular, weighs even more heavily and will bring much more rate cuts forward than the BOE and the market are expecting right now. Conclusion: The outlook for the pound is starting to brighten, but overall the negative factors are likely to outweigh against the USD in the longterm and so I see a promising opportunity to short the GBPUSD (after another rally) from way above. The 1.32 - 1.33 zone would be ideal. (For everyone who made it this far I have an extra for you: A small quiz in the comments ;) If someone wants to buy the GBP now, a long trade in GBPCHF is a good idea, which I explain in my following trade idea here:
Short
by PrimeTrading
5
GBP USD Sell Confirm GBP/USD is the forex ticker that shows the value of the British Pound against the US Dollar. It tells traders how many US Dollars are needed to buy a British Pound. The Pound-Dollar is one of the oldest and most widely traded currency pairs in the world. Follow the live GBP/USD rate with the chart and keep up to date with Pound-Dollar news and analysis. Plan your trades with the GBP/USD forecast and key pivot points data and support and resistance levels. GBP/USD reverses its recent uptrend and accelerates its losses to the key 1.2600 level on the back of increased buying pressure in the US Dollar. The Relative Strength Index (RSI) on the 4-hour chart stays above 60, reflecting the bullish bias. More importantly, GBP/USD closed above 1.2660 on Tuesday, where the 20-day, 50-day and the 100-day Simple Moving Averages (SMA) converge. Confirm GBP USD signal
Short
by JohnHarry_7
Gbpusd shortGBP/USD is the forex ticker that shows the value of the British Pound against the US Dollar. It tells traders how many US Dollars are needed to buy a British Pound. The Pound-Dollar is one of the oldest and most widely traded currency pairs in the world. Follow the live GBP/USD rate with the chart and keep up to date with Pound-Dollar news and analysis. Plan your trades with the GBP/USD forecast and key pivot points data and support and resistance levels. GBP/USD edged lower in the early American session but managed to hold above 1.2650. The negative shift seen in risk mood, as reflected by falling US stocks, makes it difficult for the pair to stretch higher. The USD risk is skewed to the upside, as recent US data has endorsed a “no landing” scenario, that would be confirmed in case of another upside surprise on inflation. Recent hints on wage growth and industrial prices are pointing to resilient inflation. The technical picture shows the Pound under an increasing momentum, although the failure to confirm above the 1.6680-1.6700 area leaves the broader bearish trend intact. On the downside, supports are 1.6575 and 1.6535.
Short
by Mark804
GBPUSD Trade Idea - Important Points To ConsiderIn the video, we analyse a potential trading opportunity for the GBPUSD. We delve into the prevailing trend, examine price movements, evaluate market structure, and pinpoint a potential entry point based on favourable conditions (if they arise), as outlined in the video. Additionally, I discuss my risk management strategy. Traders who lack a robust risk management plan expose themselves to significant risk and often encounter negative trading outcomes. It is crucial to incorporate sound risk management principles into your trading strategy. As always, please be aware that this information is strictly for educational purposes and should not be construed as financial advice.
Short
by fxtraderanthony