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British Pound vs US Dollar

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GBPUSD.P trade ideas

GBP/USD Outlook: Navigating Recent Trends and Upcoming EventsAfter a brief rally that saw GBP/USD rise above the 1.3000 mark on Friday, the pair lost momentum and closed the day marginally lower. As of Monday morning, GBP/USD remains relatively quiet, trading sideways above the 1.2970 level. This stagnation reflects a broader market reaction to various economic signals and upcoming events. Impact of US Treasury Bond Yields The recent increase in US Treasury bond yields has provided substantial support for the US Dollar, contributing to the reversal of GBP/USD's earlier gains. As investors flocked to the dollar, the pair's upward trajectory was curtailed. Additionally, the rise in US stock index futures, which increased between 0.5% and 0.7%, indicates a growing risk appetite among investors, further amplifying the dollar's strength. Potential for Bearish Impulses in GBP Given the current market conditions, there is a possibility of a bearish impulse for the GBP. Should risk flows dominate the financial markets after Wall Street opens, the USD may face renewed selling pressure. However, the demand areas could become the next target for sellers, suggesting that the GBP might struggle to maintain its upward momentum in the short term. Upcoming Economic Events Looking ahead, the UK government is set to present its Autumn Budget on Wednesday, which could have significant implications for GBP volatility. Market participants will closely monitor the details of the budget for potential fiscal measures that could influence the economy. Meanwhile, the US economic calendar is also packed with key data releases in the latter half of the week, adding further complexity to the market dynamics. Technical Analysis and COT Insights From a technical standpoint, the Commitment of Traders (COT) report offers valuable insights. Retail traders remain predominantly bearish, while "smart money" is beginning to build long positions. This divergence in sentiment can create opportunities for traders, particularly if the price reaches identified demand areas. For those looking to capitalize on potential movements, it may be prudent to consider long positions only when the price approaches these demand zones. This strategy aligns with risk management principles and may enhance the likelihood of favorable trade outcomes. Conclusion In conclusion, the current landscape for GBP/USD is characterized by a complex interplay of economic indicators, market sentiment, and upcoming events. As the pair navigates the immediate challenges, traders must remain vigilant and adaptable. Monitoring both the US and UK economic calendars, along with key technical levels, will be essential for making informed trading decisions. What are your thoughts on the potential movements of GBP/USD in the coming days, and how do you plan to position yourself in this evolving market?
by FOREXN1
1
SELL!!! GBPUSD HAS HAD A REJECTION IN THE DAILY INTEREST ZONEHELLO TRADERS I WISH YOU A SUCCESSFUL WEEK, GBPUSD IS THE FIRST PAIR I AM INTERESTED IN SELLING FOR THIS WEEK. TECHNICAL ANALYSIS CONFLUENCES FOR SELLING AT THIS MOMENT 1.- weekly time frame bearish 2.- daily time frame bearish 3.- 4-hour time frame bearish 4.- rejection of the last daily structure point 5.- rejection of the daily interest zone 6.- daily rejection candle 7.- we are at the last point of the 4 Hr structure Why do I like it? The weekly time frame is bearish, the daily time frame is still bearish and the 4-hour time frame is bearish, which gives me a total of 3 time frames in tune, so the most logical thing is to look for sales. The price has rejected the previous daily lowest low (note the lowest low from October 16 to 21), and in turn it is a weekly and daily interest zone that has been rejected repeatedly in the past. There is a daily rejection candle (look at the bearish candle of October 25th). The price is retesting the lowest low of the 4-hour time frame. If you like my idea, follow me and give me a thumbs up!!! I will respond to suggestions and comments.
Short
by FxAlexisTrader
GBPUSD: Short-term selling strategy !Hello everyone! Let’s dive into today’s analysis of the GBPUSD pair and explore what’s happening in the market. On the 1-hour chart, GBPUSD is experiencing relatively low volatility, trading around the 1.296 level. Here’s a breakdown of the key elements to consider: Trend Overview GBPUSD remains under selling pressure with a clear downtrend in place. The recent rebound of the USD since the beginning of the week has added extra resistance to the British Pound’s recovery. Market Sentiment Investors are cautiously optimistic about potential Fed rate cuts, but with no immediate action expected, the preference leans towards a selling strategy. This bearish outlook is currently favored as a profit-making plan. Technical Insights EMA 34 & 89: These indicators show slight reversals but with minimal volatility, favoring the overall bearish trend. Double Top Pattern: A recent double top formation signals strong selling pressure, with bears actively defending the downtrend. Price Action: The price is moving toward lower profit targets, while also testing for new bullish momentum at marked support levels. Based on these factors, I’m leaning towards a “sell on rallies” strategy. How about you? What’s your take on GBPUSD today?
Short
by Pierce_Bowers
British Pound's Next Rounds(Analysis of the British Pound) The British Pound has been experiencing a decline. Our chart analysis reveals a consistent trend respecting established support and resistance zones. Currently, the trend is bearish, with a recent reversal from the resistance zone. To manage risk, we've set our stop-loss above the resistance level. Trade Strategy: We've divided our take-profit into two parts: 1. The first target is at the support level. 2. The second target is below the support level. Trade Management: If the first take-profit is achieved, we'll monitor the trend for a potential breakdown. If it occurs, we'll proceed to the second take-profit. However, if the trend reverses from the support level, we'll close our positions with only the first take-profit.
Short
by LeonardoTrader9t9
GBP/USD Testing Key Resistance: Time to Short the Pound?Let's break down the market structure on GBP/USD. Starting with the weekly chart, we can see that price has been respecting that yellow weekly support at 1.28626 and hasn't closed below it yet. However, GBP/USD has struggled to break back above the 21 EMA, which is sitting around 1.30468, and looks like it could face more downside pressure unless it can retest those higher levels. The next key weekly resistance is 1.31578, which is a long way up if bulls decide to take control, but so far, the bearish trend is holding. On the daily chart, price is attempting a slight recovery after bouncing off that daily support at 1.29000, but notice how the 8 and 21 EMAs are still trending down. We can see that the candles are showing some buying momentum, but until we see a strong close above the daily resistance at 1.30162 or even higher around 1.31093, this looks like a potential sell opportunity on the pullback. If price fails to close above 1.30162, we could see a continuation down to retest 1.28626 or even 1.27467. Looking at the 4-hour chart, we see that GBP/USD has broken above the trendline resistance and is now sitting right at that key daily resistance. I'm watching for either a solid rejection here or a breakout confirmation. If I see bearish price action forming here, I'd look to sell around 1.30139 with stops above the 1.30500 mark and target 1.28626 for a quick ride down. If we get a breakout above 1.30162, though, I'd wait for a retest to get in on the long side. We want to be in and out by Friday, so let's stay sharp and trade smart! Happy trading fam, let’s get these pips!
Short
by SheenaL
GBPUSD: Two Possible Buying Opportunity! Are you buying GU?Dear colleagues, I would like to share my analysis of the recent price action in the GBPUSD currency pair. As you may be aware, the pair was rejected at the 1.34 level after setting a new yearly high. This move lower was largely due to a sharp rally in the US Dollar Index (DXY), which was in turn driven by stronger-than-expected Non-Farm Payroll (NFP) data. The NFP report showed that the US economy added a record 254k jobs last month, far exceeding market expectations. As a result of this data, the GBPUSD pair is now exhibiting strong bearish momentum and is facing significant selling pressure. However, I believe that the current market conditions may present a buying opportunity. While the initial entry point may not be ideal, there is a second entry point that offers a safer and more secure opportunity to enter a long position. In my opinion, the GBPUSD pair has the potential to rally back up to the 1.34 level as the DXY is unlikely to maintain its bullish momentum. This assessment is based on both technical and fundamental factors, which do not indicate further upside potential for the US Dollar. I encourage you to consider this analysis and share your thoughts in the comments section below. Here is our previous charts ON GU And Here is our view point on DXY/USD: While last Friday's data may have caused some temporary setbacks, I assure you that the majority of currency pairs are poised for recovery. Your continued support and dedication to your trading endeavors are greatly appreciated. May you all thrive and achieve success in the week ahead. Team Setupsfx_
Long
by Setupsfx_
27
BIG Picture GBPUSD (1W and 1D)On the weekly chart, the market shows a bullish structure. However, it is currently in a decline driven by a rejection block that, according to ICT concepts, signals a trend reversal. In my view, buyers will aim to dominate the market within the Discount FVG zone, with the objective of pushing the price up to the imbalance created above in the rejection block. If the dollar weakens next week, this movement is highly likely. Daily Analysis I believe buyers are very interested in the zone between 1.29031 and 1.28570. On Monday, I anticipate a possible manipulation below 1.29110, which is below Friday's low.
Long
by LordZanda
GBPUSD Is Going Up! Long! Take a look at our analysis for GBPUSD. Time Frame: 6h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 1.296. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.306 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
2
GBP/USD Today: Short Term Trend ForecastHello dear friends, a new week has come, wish you lots of energy! Currently, the GBP/USD exchange rate is fluctuating around 1.2965 and performing well in the downward price channel on the 1-hour chart. The main reason is that the market is witnessing economic stability in both the UK and the US, as retail sales in both countries exceeded expectations, indicating quite strong consumer spending. In addition, inflation in the UK has dropped to 1.7%, below the Bank of England's target, increasing the possibility of a rate cut in the near future, directly affecting this currency pair. Wishing you successful trading and good luck in the market!
Short
by Bentradegold
1
GBPUSD 4H Outlook | BearishGBPUSD is continuously making LH, LL. Earlier, the daily and 4H timeframe made divergence, followed by a flat top divergence after which this bearish trend started. It has formed a bearish channel that is still valid. A key support area is found around 1.26105. Trade plan: Place a sell stop order when LL breaks Stop Loss: 1.29984 Sell Stop : 1.29035 TP1: 1.2809 TP2: 1.2714 Start with a minimal position and add after channel confirmation.
Short
by hunainbinsajid
3