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Pound

Pound H4 | Heading into 50% Fibo resistanceThe Pound (GBPUSD) could rise towards a pullback resistance and potentially reverse to drop lower towards our take profit target. Entry: 1.22138 Why we like it: There is a pullback resistance that aligns close to the 50.0% Fibonacci retracement level Stop Loss: 1.22716 Why we like it: There is an overlap resistance that aligns above the 61.8% Fibonacci retracement level Take Profit: 1.21063 Why we like it: There is a pullback support that aligns with the 78.60% Fibonacci retracement level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
GBPUSD: Retracement, maybe reversal?Been watching this pair closely and made some good pips in the past week, however I got spooked last night and closed my sells (albeit 50 pips too early), but my calculation seemed to be broadly right. To me it's looking like a fake out below my support line and back through this resistance which is being retested but I think we're going back up. USD not flying as I think it should (and has previously) with conflict, I think we'll see some retracement in DXY which will benefit this pair, it's been too bullish for too long imho and I believe we'll see profit taking. GBP nailed on I think to raise rates again this month following the hanging of inflation data yesterday. This will benefit XXXUSD crosses in forex, commodities and indices. I'm only expecting this to retrace to the descending trendline for now which will be my TP.
Long
by Finchcliffe
GBPUSD NEXT MOVESticky UK CPI earlier this week was not enough to maintain the pound’s turnaround as geopolitical tensions in the Middle East remains the dominant theme at present. Diplomatic efforts to address the conflict have since been diminished after a hospital explosion, stoking pressures within the region between Israel and Hamas. The safe haven US dollar will draw greater attention in this environment but the address by Fed Chair Jerome Powell later today (see economic calendar below) will be the focus for cable. GBP/USD ECONOMIC CALENDAR (GMT +02:00)
Long
by Ttrade-With-Logic
GBPJPY H4 | Falling to 50% Fibo supportGBPJPY is falling towards a pullback support and could potentially reverse from here to bounce higher towards our take profit target. Entry: 180.953 Why we like it: There is a pullback support level that aligns with the 50.0% Fibonacci retracement level Stop Loss: 179.634 Why we like it: There is a swing-low support that aligns below the 61.8% Fibonacci retracement level Take Profit: 182.830 Why we like it: There is a pullback resistance level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
Pound H4 | Rising into 50% Fibo resistanceThe Pound (GBPUSD) could rise towards a pullback resistance and potentially reverse to drop lower towards our take profit target. Entry: 1.22138 Why we like it: There is a pullback resistance that aligns close to the 50.0% Fibonacci retracement level Stop Loss: 1.22716 Why we like it: There is an overlap resistance that aligns above the 61.8% Fibonacci retracement level Take Profit: 1.21063 Why we like it: There is a pullback support that aligns with the 78.60% Fibonacci retracement level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
1
GBPUSD: Bearish continuation, setting up for a nice drop?Expecting another hike from the FED in November, supported by hawkish comments across the board to focus on reducing inflation to 2%, this is supported by positive data. Real yields (bond yield - inflation) are positive for the dollar, they're negative for GBP and EUR. We may still see another hike from BoE but the economy is in a mess. Need to watch for US Inflation data and UK GDP data this week. Saw a nice bounce on this pair Friday but I think the fall will continue down to around 1.20, so waiting for a rejection from resistance on the LTF's and will then get in.
Short
by Finchcliffe
GBP/USD: Bearish Momentum Continues, Watch for Oversold BounceThe British pound fell to a new record low against the US dollar on Wednesday, October 18, 2023, after the Bank of England raised interest rates by 0.75 percentage points, but signaled that it may slow the pace of hikes in the coming months. This suggests that the BoE is more concerned about a recession than about inflation, which could lead to further weakness in the pound. Other factors weighing on the pound include the ongoing political uncertainty in the UK and the prospect of a prolonged economic slowdown. The UK economy is already facing a number of headwinds, including high inflation, rising energy costs, and labor shortages. A recession in the UK would likely lead to a further weakening of the pound. Technical Analysis 30-Minute Chart On the 30-minute chart, GBP/USD is currently trading in a bearish downtrend. The price is below the 20-period and 50-period moving averages, and the MACD indicator is below its signal line. This suggests that the bears are in control and that the price is likely to continue to fall in the near term. The next support level is at 1.2100, followed by 1.2050. The next resistance level is at 1.2250, followed by 1.2300. 4-Hour Chart On the 4-hour chart, GBP/USD is also trading in a bearish downtrend. The price is below the 20-period and 50-period moving averages, and the MACD indicator is below its signal line. This suggests that the bears are in control and that the price is likely to continue to fall in the near term. The next support level is at 1.2100, followed by 1.2050. The next resistance level is at 1.2250, followed by 1.2300. Daily Chart On the daily chart, GBP/USD is also trading in a bearish downtrend. The price is below the 20-period and 50-period moving averages, and the MACD indicator is below its signal line. This suggests that the bears are in control and that the price is likely to continue to fall in the near term. The next support level is at 1.2100, followed by 1.2050. The next resistance level is at 1.2250, followed by 1.2300. Elliot Wave Theory Based on Elliot Wave Theory, GBP/USD may be in wave 5 of a bearish 5-wave Elliott wave pattern. This suggests that the price is likely to continue to fall until the wave 5 pattern is complete. I hope this post is helpful. If you agree with the idea, please follow and share this with others too. This analysis is based on the information at the date it is posted. This analysis does not represent professional and/or financial advice. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information. Any feedback is encouraged and appreciated. Thank you and have a nice day!
Short
by YExplore
GBPAUD: Breakout of support and dynamic trendlineWe've had a breakout of both support and descending dynamic trendline with no retest, which I'm expecting. I can't see us retesting the dynamic trendline so considering shorts on the LTF's when we return to the resistance (formerly support) line. Expecting Aussie strength and Pound weakness, we may go higher with the interest rate decision from the BoE this week (so if I'm in a trade I'll often pull out before the news or at least get the SL tighter as oscillation often reduces in the few hours before the news), so will be on guard for this, however I don't think we'll break back into the rising trend.
Short
by Finchcliffe
GBPNZD H4 | Rising into overhead resistance?GBP/NZD is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 2.05730 which is a pullback resistance that aligns with the 23.6% Fibonacci retracement level. Stop loss is at 2.07000 which is a level that sits above a pullback resistance level. Take profit is at 2.02931 which is a pullback support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM Australia Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
GBP/USD Continues to Soar: Can the Bullish Run Persist?GBP/USD Continues to Soar: Can the Bullish Run Persist? The GBP/USD pair is on an impressive streak, notching its sixth consecutive day of gains and reaching a nearly three-week high during the Asian trading session. With the spot prices hovering just below the key 1.2300 round-figure mark, it's evident that the US Dollar (USD) is feeling the heat, facing a persistent bearish trend. The recent series of dovish comments from various Federal Reserve (Fed) officials has prompted investors to dial down their expectations of aggressive monetary tightening by the US central bank. This trend has exerted downward pressure on US Treasury bond yields, eroding the strength of the Greenback. In particular, Atlanta Fed President Raphael Bostic emphasized that further interest rate hikes are unnecessary and that there's no impending recession. Moreover, the prevailing risk-on sentiment has added to the USD's woes while bolstering the GBP/USD pair. Despite escalating geopolitical tensions in the Middle East, the decreasing likelihood of more rate hikes by the Fed has encouraged investors to seek higher returns in riskier assets. This has fostered a positive market tone, evidenced by gains in the equity markets, thereby diverting investments away from traditional safe-haven currencies, including the US Dollar. Nonetheless, it's important to note that the markets are still pricing in the possibility of at least one more Fed rate hike before year-end. This factor tempers the enthusiasm for aggressive bearish USD positions. Furthermore, expectations that the Bank of England (BoE) will keep rates unchanged in November might act as a ceiling on the GBP/USD pair. The BoE unexpectedly paused its rate-hiking cycle in September and provided little indication of its future rate intentions. As the GBP/USD pair extends its recent recovery from the 1.2035 region, which marked its lowest point since March, traders are advised to await strong follow-through buying before considering an extension of the bullish run. Market participants are eagerly awaiting the release of the US Producer Price Index (PPI) and the FOMC meeting minutes, which are expected to provide substantial market-moving insights during the North American session. Attention will then shift to Thursday's unveiling of the latest US consumer inflation data, which could offer further clarity on the currency pair's future trajectory. Short-Term Setup - Our preference: Short positions below 1.23400 with targets at 1.22250 & 1.21800 in extension.
Short
by FOREXN1
17