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Poundsterling

GBPUSD DAILY FORECASTThe Pound Sterling this year has been bullish with the decline of the US Dollar. GBPUSD made new highs at 1.37039 and has recently seen selling pressure to 1.35549. The daily chart shows us that GBPUSD has rejection wicks and making lower highs continuing the bearish momentum. Last week, it found some daily support around 1.35300. Friday however, closed with a Bearish Pin Bar candlestick suggesting the Pound may still drop further next week Support levels are 1.34300, 1.33050, and 1.31300
by StockSniperTrading
2
GBP/USD BUY IDEAHey tradomaniacs, welcome to a new free trading-setup. Notice: This is meant to be a preparation for you. As Always we will have to wait for a confirmation GBP/USD: Daytrade-Preparation Market-Buy: 1,36225 Stop-Loss: 1,35870 Point Of Risk-Reduction: 1,36550 Take-Profit: 1,36945 Stop-Loss: 35 pips Risk: 0,5% - 1% Risk-Reward: 2,10 LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me.
Long
by Trading2ez
14
GBPUSD: End of Uncertainty & Bullish 2021 Like all major USD pairs, GBPUSD is very bullish since spring 2020. However, in contrast to many other pairs, pound managed to break and close above a major resistance cluster on a weekly. That structure breakout indicates a highly probable long term bullish continuation. Based on that I am highly confident that this year the price will aim at 1.43-1.44 resistance. That is the next major weekly structure. In December 2020 finally, we have a clear picture of Brexit and its aftermaths. The sense of certainty could be the main driver of a bullish wave. Remember that on a weekly chart the price is relatively slow. So do not expect a rally in January. It may take the entire year or even more to reach the goal. What do you think will happen with pound this year? Please, support this idea with like. Thank you!
Long
by VasilyTrader
9
GBP/USD BUY IDEAHey tradomaniacs, welcome to a new free trading-setup. Notice: This is meant to be a preparation for you. As Always we will have to wait for a confirmation! GBP/USD: Daytrade-Preparation Market-Buy: 1,35140 Stop-Loss: 1,34570 Point Of Risk-Reduction: 1,35575 Take-Profit: 1,36180 Stop-Loss: 55 pips Risk: 0,5% - 1% Risk-Reward: 1,90 LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me.
Long
by Trading2ez
4
GBPJPY: Sideways Market & Consolidation GBPJPY is consolidating within a horizontal trading range on a daily. 140.0 - 140.5 is its resistance. 137.3 - 137.5 is its support. The next strong swing move will most likely initiate only after a breakout of the range. The side of the breakout will show the direction of the market. In case of a bullish breakout (daily candle close above), next goal for buyers will be 141.8 level. In case of a bearish breakout (daily candle close below), next goal for sellers will be 135.5 level. Wait for a breakout, follow the market.
Long
by VasilyTrader
4
GBPUSD Entering Key LONG TERM Zone - Multi-Timeframe AnalysisLike some other USD pairs, GBPUSD closed within a key zone on long term timeframes. *If this is helpful please LIKE or COMMENT so I know whether to keep sharing these charts* MONTHLY (see main chart) We have again entered a KEY pivot zone (yellow parallels) and approaching median line of major downtrend pitchfork (PF). We attempted to enter this zone in September but eventually rejected off the trendline (TL) from 2007 high to form a false break scenario. However October we failed to move lower and the November candle closed INSIDE the lower yellow parallel. If the December closes above this TL and above the yellow parallel we can look for a test of the Median line last tested in 2018 early 2021. NOTE: If we close the month BELOW these levels (have to be sub 1.30 figure) the MONTHLY outlook stays neutral. Weekly We are currently trading within an UPTREND PF joining 2016 low, 2018 high and 2020 low. We closed the week right at resistance on the median line basically on the 2018 OPEN. On a WEEKLY basis we have closed above the 2007 TL BUT as you can see its a bit messy so while it is a guide the pitchfork levels are KEY. We would need a WEEKLY CLOSE above the median line to signal a bullish breakout scenario BUT be aware just like the monthly PF the 14.4% parallel around the median line may act like a pivot zone. Upper target zone would be the yellow 23.6% retracement confluent with the MONTHLY median line in blue (1.37~) to the weekly 14.4% parallel confluent with 2009 high week close (HWC) at 1.3790. Lower target if we breakdown initially is 2020 Open at 1.3253, then the GAP at 1.3230, then the December low at 1.3134. Daily On top of the UPTREND PF shown in the weekly we have also been following another UPTREND PF on the Daily in GREEN. On Thursday we found resistance on the upper 25% line of GREEN PF and retraced back to the 2018 OPEN to close Friday. To remain bullish we need to stay ABOVE the 14.4% parallel. The BULLISH and BEARISH targets are the same as on the WEEKLY chart BUT if we push lower look for the Trendline we have tested 4 times since the May low that is confluent with the October high day close (HDC) at 1.3141. If we breakdown further it really is the 1.30 figure then 1.2850~ and 2019 OPEN at 1.2754. Intraday (4hr) You can see intraday we are also following an UPTREND PF. We did break below 2 weeks ago only to gap back inside and push higher (on the apparently positive BREXIT news). The only additional information here is you can see we closed the week sitting on top of the September high. Due to the volatility I've been trading off the GREEN PF primarily BUT if you are a scalper this near term structure may help you. Just remember we are BULLISH while inside the near term PF so I will be very careful getting overly bearish. On a break I'll look for some near term structure to guide me.
by Kei_Capital
1
Weekly Recap for Pound Sterling: December 7-13GBP/USD The key event of the 7th December week for GBP/USD was Brexit trade deal talks between British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen during dinner in Brussels on Wednesday, 9th December. The official statement of both sides remaining ‘far apart’ after the end of the dinner increased selling pressure behind cable on Thursday and Friday. GBP/USD opened the week of 7th December at 1.3409 and took a downswing of 193 pips between 6:00 and 10:00 UTC. Later in the day, high-level volatility continued, and the pair managed to recover much of the losses, closing Monday’s session at 1.3375. On Tuesday, 8th December, the pair continued slipping downwards and edged down to a local low of 1.3289 mid-day. The losses were largely retraced later in the day, with the pair closing Tuesday at 1.3350. The expectation of a breakthrough in the Brexit trade deal kept up the pound bulls’ hopes, which resulted in GBP/USD rising to 1.3478 during the day. But all of that positivity was largely reversed by the negative news coming from Brussels. On Thursday, 10th December, the falling continued, regardless of the positive U.K. manufacturing and industrial production figures and the U.K. month-on-month GDP for October matching the 0.4% change expectations. On Friday, 11th December, PM Johnson’s warning of no deal alarmed the traders even further, and the selling continued on. As a result, the pair slipped under the 1.3143 daily support level for a short time, but bounced quickly to 1.3180, being supported by the level and the 50-day SMA. Later in Friday’s trading, cable even jumped above 1.3250, but was unable to hold the local gains and secured a place at 1.3218 at the week’s close. The week’s trading result for GBP/USD increases the risks of a discontinuation of the uptrend on the daily timeframe from the technical point of view. The fundamental picture behind the Brexit trade deal remains the main driver of such risks. It was announced in Brussels that the talks would continue through Sunday, and some uncertainty concerning the final situation around the trade deal remained in the market. On Monday, 14th December, Boris Johnson and Ursula von der Leyen jointly stated that they had discussed the key unresolved issues and decided ‘to go the extra mile’ to reach a historic trade deal. The market’s reaction was extremely bullish, with the GBP/USD opening with an upside slippage of 127 pips and reaching 1.3380 in the first eight hours of Monday, virtually writing off the previous week’s losses. The U.S. and U.K. economic reports during the week of 14th December will be many. The most important one will include: the U.K. unemployment data and average earnings for November on Tuesday; the U.K. CPI, the U.K Services PMI and Manufacturing PMI, the U.S. retail sales, the U.S. Manufacturing PMI, the U.S. Services PMI, the U.S. PMI Composite on Wednesday; the Bank of England’s interest rate decision on Friday. Also, a COVID-19 vaccine announcement is scheduled to be made in the U.S. on Friday, 17th December. Presently, the 1.3143 daily support level remains the downside target for GBP/USD, its attainment may be foiled by the upside channel’s lower boundary, which has already several times prevented cable from slipping outside the channel. However, if pessimism continues to dominate the Brexit trade deal arena, the discontinuation of the uptrend in the pair only seems to be a matter of the nearest future. EUR/GBP For GBP/EUR, the week of 7th December was a straightforward bear run, from mid-1.1000s to 1.0850. The failure to yield a breakthrough at the dinner in Brussels damaged the pound’s positions against the rivals, most noticeably - against the euro. Having opened the week of 7th December at 1.1063, GBP/EUR travelled below 1.0950 in the early Monday’s hours, but recovered most of the losses during the rest of the day, closing Monday’s session at 1.1050. On 8th December, Tuesday, Monday’s trading situation largely replicated itself at a lesser scale. Having opened the session at 1.1045, GBP/EUR edged down to 1.0969 but returned to 1.1034 at the day’s close. Tuesday’s mixed trading was partly explained by EU’s GDP data: a negative 12.5% change against the 12.6% market forecast and the positive -4.3% year-over-year change against the -4.4% market forecast. On Wednesday, 9th December all eyes were fixed on Brussels, where the talks between British PM Boris Johnson and European Commission President Ursula von der Leyen were taking place. As was announced after the end of the talks that both sides remained ‘far apart’, GBP/EUR got stuck under the 1.1100, being pressured by the 1.1093 weekly level and the 50-day simple moving average. The market’s reaction on Thursday, 10th December, was highly negative: a long bearish candlestick took the pair from 1.1089 to 1.0948 at the day’s close. On Friday, 11th December, the pair opened at 1.0954 and, pressured by the British PM Johnson’s rhetoric of a high chance of a no-deal Brexit, touched the low of 1.0835 in an 8-hour-long downswing between 6:00 and 14:00 UTC. A bounce from the weekly low took the pair above 1.0900 and saw it close the week at 1.0913. The week’s dynamics indicated a downside target of 1.0795 for GBP/EUR, but the bullish comments from the negotiators in Brussels have changed it for an upside one at 1.1250. The announcement of a new round of negotiations made by PM Boris Johnson and European Commission President Ursula von der Leyen with determination to resolve the key issues and reach a trade deal sent the pair above 1.1030 and the 50-period SMA on the 4-hour timeframe by 08:10 UTC. Besides the situation developing around Brexit trade deal negotiations, the week of 14th December is rather tightly packed with economic reports. Aside from the British ones, the key EU reports to watch for GBP/EUR include: Manufacturing PMI, Services PMI and PMI Composite on Wednesday and CPI on Thursday. The renewed hopes of a trade deal between the EU and the U.K. have given the GBP/EUR a bullish stimulus. Therefore, a deal in place could easily send the pair above the 1.1250 resistance level. The announced new round of negotiations should soon give final clarity for GBP/EUR trading dynamics.
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by KonstantinAnissimov
2