British Pound, Weekly, EQH -> EQLThe price has swept some liquidity above this year's equal highs while at the same time diverging with Euro both on HTF and MTF. The target for this move is EQL.
Pound
NFP preview: Trading S&P or GBPUSD? NFP preview: Trading S&P or GBPUSD?
US Fed Chairman Jerome Powell has reiterated on multiple occasions that a tight labor market acts as a deterrent to lowering interest rates. Which is why this month's NFP data release should be interesting.
This Friday's Non-Farm Payrolls (NFP) data is expected to show an addition of 200,000 new jobs. Since Feb 2023, data has consistently hovered between 300K and 150K. Many of these initial readings were subsequently revised downwards. Nevertheless, at the time, they significantly reduced the likelihood of Federal Reserve rate cuts and, most recently, bolstered the dollar.
Traders anticipated ~6 rate cuts at the beginning of the year, but now will be content if the Fed reduces rates three times. However, even three rate cuts are dubious, given that most recent US data has exceeded expectations. This Monday, the ISM manufacturing index turned positive for the first time since October 2022.
If the NFP data surpasses expectations, GBP/USD could become an attractive trade. In the event of a soft NFP reading, attention could shift to the S&P, which would have a window to rebound before major banks commence reporting their latest earnings.
GBP/USD has remained trapped within a rectangular pattern for almost 100 days now, potentially indicating some strong boundaries to take note of for a range trade. The pair currently sits in the lower half of the range.
The jobs data on Friday could heavily influence Wall Street's sentiment, potentially determining whether the market remains overall bullish or requires even more of a corrective move. The 5200 level could be pivotal. It has previously acted as resistance and now functions as support. Even if a breakdown occurs below this level, support could be anticipated at the 5100 level or the 50-day SMA.
GJUpdate
4H
We have been moving up. 190.550 was and still is our current support.
15Min
The reversal candles we just had showed us extra opportunities. The RR is just shy of our ideal RR, hence the SL (190.65) is tight, but the TP (191.25) is the same as the previous trade.
GBPUSD#GBPUSD
Hello everyone, today I'm focusing on trading the British pound. The context shifted during the London session, and I consider the PDH as the ideal target for intraday trading.
GJWEEKLY
Spinning tops at the current price (190.60), therefore we wait.
DAILY
190.00 looks to be the rejecting price, we are moving up.
4H
190.60 is a strong level we bounced of and had candlestick confirmation to the upside.
1H
191.30 is where we are anticipating
15min
190.40 was our resistance and turned into our support
GBPUSD Day Plan#GBPUSD
day Plan
Short context on all timeframes, with the scenario canceled in case the price consolidates above 1.25558.
GBP/USD: Bearish Sentiment Persists Ahead of Easter BreakClosed the trading session before the Easter weekend, the GBP/USD pair is seen hovering around 1.2617, encapsulated within a prevailing bearish sentiment. Similar to the EUR/USD, the pair remains within an accumulation range, suggesting a possible Triangle pattern for enthusiasts of technical analysis. Notably, it is trading below both the 21 and 200 Moving Averages on the H4 timeframe, underscoring the strength of the bearish trend.
Inflation in the US saw a marginal uptick to 2.5% annually in February, according to the PCE Price Index, the Federal Reserve's preferred gauge for tracking inflation. This modest increase from January's 2.4% met market expectations. Meanwhile, the index recorded a 0.3% rise from the previous month, slightly below the forecasted 0.4%. Core PCE, which excludes food and energy, also experienced a 2.8% annual increase, aligning with predictions, with a monthly uptick of 0.3%. The upward revision of January's core PCE figures signals ongoing inflationary pressures, potentially influencing the Federal Reserve to maintain higher interest rates.
With upcoming employment data expected to play a crucial role in shaping future policy decisions, the timing and extent of rate adjustments remain uncertain.
Considering these factors, our analysis leans towards a bearish continuation for the GBP/USD pair, with a potential downside target identified at 1.25315.
GBP/USD Reversal Signals: Analyzing Potential Bearish MomentumAmidst early week volatility, GBP/USD initially tested 1.2650 before reversing course and closing positively on Monday. However, recent movement has brought the pair into a supply area, hinting at a possible reversal and continuation of its bearish trajectory.
In the upcoming economic calendar, focus shifts to the release of Durable Goods Orders for February in the US. Forecasts predict a 1.3% rise following January's 6.2% contraction. Should the data disappoint, it may weaken the USD in the immediate aftermath. Conversely, a stronger-than-expected increase could bolster the currency. Nonetheless, the impact of this data is likely to be short-lived.
Traders are closely monitoring these developments, with anticipation building for a potential bearish setup post the Durable Goods news.
GBPUSD: This way to trade the GBPUSDHello friends. We see the price in the channel and I expected price go up to red line and start downtrend to determined line in the chart . be enjoy and profitable
GJLet's stay watching because where price currently is (190.90) is a level to watch. We close below here, have a rejection, confirmation candles then we know we are looking to stay going down.
1hr has already given us 1 confluence, we need 3 before we enter. It is forming a second one but has not confirmed it yet.
RISKY TRADE IDEA, enter the market with sells but closely monitoring the SL you place in because this move is not yet complete.
I will stay watching and waiting for the perfect entry.
GBP/JPY H4 | Falling to pullback supportGBP/JPY is falling towards a pullback support and could potentially bounce off this level to rise towards our take-profit target.
Entry: 190.501
Why we like it:
There is a pullback support level
Stop Loss: 189.595
Why we like it:
There is an ovelap support that sits below the 61.8% Fibonacci retracement level
Take Profit: 191.892
Why we like it:
There is a pullback resistance that aligns with the 50.0% 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.
GJIf you had taken the trade idea early you would be stopped out.
Momentum is slow
191.57 we had a double rejection (Double Top)
Don't be bias and stick to a direction, stick to market movement and direction.
Wait for the close of the next hour and candlestick confirmation (Evening star, dojis, rejections) in order to determine whether we are stay up or faking before going down.
GBPUSDHello traders ,what do you think about GBPUSD? This currency pair has broken its trend line and support zone. It is expected to fall to the specified level after correction and pullback to the broken zone.
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Pound H4 | Rising into resistanceThe Pound (GBP/USD) is rising towards an overlap resistance and could potentially reverse off this level to drop towards our take-profit target.
Entry: 1.26729
Why we like it:
There is an overlap resistance that aligns close to the 38.2% Fibonacci retracement level
Stop Loss: 1.27328
Why we like it:
There is a pullback resistance that sits above the 61.8% Fibonacci retracement level
Take Profit: 1.25817
Why we like it:
There is a pullback support 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.
Overhead pressures for the PoundGBP/JPY looks set to extend its current downturn from the pivot point and drop towards an overlap support at 188.190.
Pivot: 191.149
Support: 188.190
Resistance: 193.381
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GjNEW WEEK NEW POSSIBILITIES
This week is strong and yet not so strong, past week we hit our targets for GJ. This week no lie, I am slightly confused. My mental and psychological health are up for question but I understand my duty as a responsible fund manager.
191.00 Strong price of Significance.
I've understood from textbook studying with current pattern and candlestick formation we will see a further price drop.
We are going from strong bearish momentum, finding balance and about to continue distributing the to the rest of the demand.
Getting in right after the open is a bad idea as it will probably hit SL before going through our forecast.
Trade Idea: Sell Stop
Stop Loss -
Entry - 190.500
Take Profit - 188.150
RR - 1:5
pound for short best area to short pound
entry @ lower time frame preferred
when there is structure shift
entry /stop/target shown in the chart
GBP/JPY H4 | Falling to pullback supportGBP/JPY could fall towards a pullback support and potentially bounce off this level to rise towards our take-profit target.
Entry: 191.274
Why we like it:
There is a pullback support that aligns close to the 38.2% Fibonacci retracement level
Stop Loss: 190.056
Why we like it:
There is an overlap support that aligns with the 61.8% Fibonacci retracement level
Take Profit: 193.531
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.
Strifor || GBPUSD-Week StartingPreferred direction: BUY
Comment: The bullish mood this week is also typical for the pound . Here, as well as for the euro , most likely the medium-term prospects will develop in favor of the buyer. As with the euro , the first half of the week will most likely be bearish for this currency pair, and in the second half of the week we can expect a start to recovery. The time frame for the trade is 1-2 weeks.
Both scenarios are displayed on the chart with a common target at the level of 1.28000 . More likely scenario №1 . It should be noted that the level of 1.28000 is a serious resistance, but not as insurmountable as before. Therefore, there is a high probability that long-term prospects will fall above this level after it is broken.
Additional comments on this trade will be provided as situation changes. Follow us!
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Can GBPJPY correct after months of climbing?After months of gains, GBP-JPY could start a bearish trend or correction on the monthly time frame.
GBP-JPY is moving towards the SOB zone to collect liquidity after failing to break the previous bottom at 116.837 and according to the price-time behavior pattern, it seems with a good probability to witness a correction or a downward trend in the price zone of 203 to 208.
EURGBP - Price can rise to resistance level, exiting of triangleHi guys, this is my overview for EURGBP, feel free to check it and write your feedback in comments👊
Some time ago, price broke resistance level and started to trades in flat, where it declined to support level.
Then price some time traded between $0.8570 - $0.8530 levels in flat and later declined to support line, breaking $0.8530 level.
After this, GBP started to rise near this line, and in a short time it rose to $0.8570 level, breaking $0.8530 level one more time.
But soon, price made downward impulse and fell back, breaking support line and entering to triangle.
In triangle, GBP broke $0.8530 level again, rose to resistance line but recently fell to support line.
In my mind, British Pound can bounce from support line and rise to $0.8570 level, exiting from triangle.
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GBPUSD H4 15 March 2024GBPUSD H4 15 March 2024
Lack of market catalysts from the UK region coupled with US Dollar appreciation prompted a bearish momentum for the GBP/USD pair. Strong US inflation data and high PPI figures dimmed expectations for Fed easing policies, contrasting with the UK's economic rebound from recession, which pushed back expectations for a Bank of England rate cut.
GBP/USD is trading lower following the prior breakout below the previous support level. Suggesting the pair might extend its losses.
Resistance level: 1.2770, 1.2860📉
Support level: 1.2700, 1.2615📈
GBPCAD: Strong start for GBP fading out?GBP has been the strongest performing currency so far this year - I keep asking myself why??
Country in a recession
Stagnant economy
Limp Central Bank
With today's unemployment reading I'm expecting this to be the start of bearish involvement in sterling, I'm starting with this pair.
Think oil has dropped a lot and could be ready to bounce up which is good for CAD.
Seem to have broken the ascending trendline and retesting it now, failure to break back in will signify a change in direction.
My first target is 1.708, around the MA50 (daily) and clear support.
