Get started
Micro GBP/USD FuturesMicro GBP/USD FuturesMicro GBP/USD Futures

Micro GBP/USD Futures

No trades
See on Supercharts
Overview
Ideas
Discussions Technicals Forward curve Seasonals Contracts

M6B1! trade ideas

GBP/USD Strategic Insights: Q3 Breakouts and Q4 ProjectionsAnalyzing GBP/USD: A Journey Through Accumulation, Breakouts, and Forecasting Q2 2024: The Accumulation Phase During the second quarter of 2024, the British Pound entered a pronounced accumulation phase. Institutional buyers were actively engaged, positioning their trades to capitalize on future movements. This period set the stage for subsequent price actions and was crucial in understanding the currency's resilience. Q3 2024: Strategic Movements and False Breakouts As the third quarter commenced, the GBP/USD experienced a deceptive breakout to the downside, aligning perfectly with the Camarilla pivot support levels at S3 and S4. This false move highlighted the strength of these levels as key support zones, underscoring why initiating short trades—common among retail traders—was strategically questionable at this juncture. By June 2024, the GBP/USD climbed towards $1.2800, briefly entering a distribution/accumulation phase, which prepped the market for an anticipated bullish continuation. Mid-Q3 Breakout and Profit Realization By mid-August 2024, propelled by institutional trading, GBP/USD convincingly broke past the R4 Camarilla level at $1.2950. This breakout targeted the R5 level at $1.3200, identified as the optimal take-profit point. This movement marked a significant transition from the previous range-bound market conditions, showcasing the effectiveness of strategic pivot level monitoring. Anticipating Q4 2024: Calm Before the Next Move Looking ahead to September 2024, expectations are set for subdued trading activity, with the GBP/USD likely oscillating between $1.3000 and $1.3200. This forecasted lull suggests another accumulation/distribution phase that could serve as a precursor to more definitive movements in the fourth quarter. Conclusion and Forward Outlook The trajectory of GBP/USD points towards stability in the near term, with potential gearing up for another significant movement as we approach the end of 2024. Traders should monitor these pivotal levels closely, as they offer valuable insights and strategic entry points. Given the currency’s recent history and the robust support demonstrated at key Camarilla levels, a bullish bias may be advisable heading into the next quarter, with careful attention to any shifts that might suggest a different course. Stay tuned for further updates as we continue to navigate through these dynamic market phases and extract actionable insights to enhance our trading strategies.
CME_MINI:M6B1!
by msrozba
GBP/USD:Anticipating a Bearish Scenario for the British PoundFollowing our successful forecast on the British Pound (link below), we are now poised to take advantage of another shorting opportunity as the price retests the previous supply area. This retest suggests a possible bearish scenario on the horizon. Our analysis is further supported by the latest Commitment of Traders (COT) report, which indicates a notable increase in retail long positions. This influx of long positions among retail traders often precedes a bearish reversal, providing additional validation for our anticipated market movement. As the British Pound retests the supply area, we foresee a potential new bearish impulse forming. This aligns with our strategic outlook, where we aim to capitalize on the expected downward momentum. The convergence of technical analysis and trader sentiment data strengthens our confidence in this bearish forecast. In summary, we are preparing for a bearish scenario for the British Pound, leveraging the retest of the supply area and the insights gained from the COT report. This approach ensures we remain well-positioned to take advantage of the expected market movements. Stay tuned for further updates and detailed analysis. Previous Forecast: ✅ Please share your thoughts about GBP in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
CME:6B1!Short
by FOREXN1
3
British Pound (GBPUSD) is getting close to 2007 crash!!! CoT index shows Commercials(blue line) are in 3-year extreme low AND Retailers(green line) are in extreme high. Almost every time we are in this situation the asset goes down. The last time was May 2021 you can see what happened afterwards. This is the CoT indicator of commercials net positions. Commercials net position is getting close to 2007 level where the big sell off took place. Here is the 5, 10, and 15-year seasonality trends indicating that the market typically reaches a peak around August first. Therefore, it is expected to decline from that point onward.
CME:6B1!Short
by XardasX
8
GBP (GBPUSD. 6BM2024, GBP FUTURES)... BULLISH!Bias is Bullish. Came very close to the DOL, and barely missed the FVG. I expect both will be tapped next week. The IFVG, price trading through the swing high, and the +FVG, are multiple confluences that support the idea that price will find support at these levels and continue higher. Expecting price to tap the +FVG before heading higher. Thank you for viewing! Leave any questions or comments in the comment section. I appreciate any feedback from my viewers! Like and/or subscribe if you want more accurate analysis. Thank you so much! May profits be upon you.
CME:6B1!Long
by RT_Money
2