Get started

British Pound vs US Dollar

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Economic Calendar

GBPUSD.P trade ideas

GBPUSD - Trend Reversal Pattern FormationFrom a technical perspective, it seems like GBPUSD is under the formation of a Head & Shoulder pattern. However, we need to wait and see how the pair is behaving near the neckline while forming the head. I'm expecting the head to be formed near 1.30000 to 1.30500 levels. My view co-relates with EURUSD pair. I think the below will happen in these 2 pairs EURUSD -- Doing a BOS ; GBPUSD -- Reaching the neckline EURUSD -- Retracing in Daily Timeframe ; GBPUSD -- Forming the right shoulder EURUSD -- Moving towards the target ; GBPUSD -- Moving towards the target Good Luck with your trading plans!
Short
by Mojo_0906
1
GBP/USD analysis - 24 Oct 20241.2955 acts as an important level today & if price stays below this level then we expect it to hit our target profit at 1.29013. If price breaks above 1.2955 then it should hit 1.2980. Below is our recommendation; Trade 1 (Risk 0.5% of your account size); Sell GBP/USD @ 1.2935 Stop Loss @ 1.2955 Take Profit @ 1.29013 Trade 2 (Risk 1% of your account size); Buy Stop GBP/USD @ 1.2955 Stop Loss @ 1.2935 Take Profit @ 1.2980 *Total risk is 1.5%, In case Trade 1 hits target profit then Trade 2 order must be deleted.
Short
by PalmTreeTradingUK
GBP/USD Bounce?continuing on from my last post, it seems we are taking a rebound on the current trend at the moment. Indicators (on LTF (4H/D)) suggest we could take an swing up here, however the HTF (W/M) are suggesting there is still bearish pressure on the pair. In the current news - GBP/USD trades in the upper half of the descending regression channel and the Relative Strength Index (RSI) indicator on the 4-hour chart rises toward 50, reflecting a loss of bearish momentum in the near term. The 100-day Simple Moving Average (SMA) aligns as immediate resistance at 1.2970. If GBP/USD flips that level into support, 1.3000 (round level, static level) and 1.3020 (upper limit of the channel) could be seen as next resistance levels. On the downside, first support is located at 1.2900 (mid-point of the descending channel) before 1.2800 (lower limit of the descending channel). Let's see where this goes for now> I am short term bullish biased
Long
by Underdog-Trading
Trading GBPUSD | Judas Swing Strategy 22/10/2024Last week was active for the Judas Swing strategy, with two positions on FX:GBPUSD resulting in wins (+4%), three positions on FX:EURUSD yielding one win and two losses (breaking even), three positions on FX:AUDUSD with one win and two losses (breaking even), and one position on OANDA:NZDUSD securing a win (+2%). Overall, this led to a 6% increase by the week's end. Encouraged by these results, we began the week with enthusiasm to discover what lay ahead. In keeping with our routine, we reached our trading desks at 08:25 EST and set up our trading zones. Once we have demarcated our zones, we should wait for the high or low of this zone to be swept, as this will assist us in determining our bias for the trading session. Twenty minutes later, the trading zone's low was swept, indicating that we should concentrate on looking for buying opportunities during this trading session. Although we may have a bias for the trading session, we do not enter buy trades indiscriminately. Instead, we wait for a break of structure towards the buy side. During this break of structure, the price movement should leave behind a Fair Value Gap (FVG), which will assist us in getting an entry point for the trade. Shortly after, we observed a Break of Structure (BOS) on the buy side, which resulted in a Fair Value Gap (FVG) being left behind. To fulfill all the entry criteria on our checklist, we must wait for price to retrace into the Fair Value Gap (FVG) that has formed, and we can only execute the trade once the candlestick has closed. The next five-minute candle has entered the Fair Value Gap (FVG), indicating that upon its closure, we may proceed with executing the trade. It's crucial to understand that by risking only 1% of our trading account for a potential 2% return, we minimize emotional attachment to the trades since we're only risking what we can afford to lose, and we stand to gain more than we risk. After executing the trade, our position immediately showed a profit. However, it's crucial to stay composed and manage our expectations, as we do not control the markets and the situation could swiftly change. After a few hours, we revisited the position and noticed it was still fluctuating around the same price point where we had previously left it. According to our data, we can anticipate being in a position for an average of 11 hours, so the duration of this trade meeting our objective is not a concern; we simply need to remain patient for it to occur. Upon reviewing the position once more, we noticed it continued to consolidate in the same area. However, according to our rules, we must wait for the position to either reach the Take Profit (TP) or Stop Loss (SL) point. Unfortunately, our patience did not yield the desired results this time, as the stop loss was triggered and we incurred a 1% loss of our trading account on this trade. However, this loss did not impact us significantly since we had already accepted the amount we were risking on the trade.
by CleoFinance
#GBPUSDRising Wedge Breakdown: The price is breaking down from a rising wedge pattern. Rising wedges are generally seen as bearish reversal patterns, especially when the breakdown occurs after a significant rally, which suggests a potential reversal of the uptrend. Fair Value Gap (FVG): The chart highlights an FVG (Fair Value Gap), which could indicate that price might have filled this inefficiency, signaling the potential start of a bearish move. After the FVG is filled, price often resumes its primary direction, in this case, downwards. Bearish Trendline Break: The price has either tested or broken below a key trendline that has supported price action for a significant period. A clear break below this trendline often leads to further downside as the market turns more bearish. Projection of Bearish Momentum: The red arrow drawn on the chart suggests a projected significant downward move, with a potential target far below the current price level, reinforcing the bearish outlook. Given these technical factors, the chart suggests that the pair might be due for a correction or a more extended downtrend. A short position could be considered if price continues to break down below support levels and confirms the wedge breakdown. Proper risk management is essential in case of a reversal.
Short
by TheRealHawk
Fundamental Market Analysis for October 24, 2024 GBPUSDEvents to pay attention to today: 11:30 GMT+3. GBP - PMI Composite 22:45 GMT+3. GBP - BOE Governor Andrew Bailey Speaks GBPUSD: On Wednesday, the GBP/USD exchange rate fell by an additional 0.5%, reaching a new ten-week low and moving closer to 1.29000. The UK and US will release Purchasing Managers' Index (PMI) data on Thursday, with updates provided on a rolling basis. Investors will also be monitoring speeches from central bankers at both the Bank of England (BoE) and the Federal Reserve (Fed). The Pound declined further on Wednesday, with markets showing weakness due to a broad US Dollar recovery and investors awaiting an overall decline in the UK PMI for October. The median market forecast is for a slight downturn in UK activity figures, with the services PMI for October expected to fall to 52.2 from 52.4 in the previous month. In the US, the median market forecast is for a mixed outcome in October's PMI reading. The manufacturing PMI component is expected to rise to 47.5 from 47.3, while the services PMI component is expected to fall slightly to 55.0 from 55.2. Trading recommendation: Trading predominantly Sell orders from the current price level.
Short
by Fresh-Forexcast2004
Analysis GBP/USD As I mentioned in yesterday's analysis, the price continued with its bearish momentum and collected the first liquidity (LQY) below. Today, I took advantage of the drop and opened a sell position, which I just closed since the New York Stock Exchange is nearing its end. Tomorrow, we have impactful news for both EUR and GBP, so I will take a break from trading tomorrow and wait to see how everything unfolds during and after the news. Yesterday, I noted that the day closed as a Doji, but that today would still be bearish, which indeed happened. On the hourly (H) charts, there’s a clearer picture of the liquidity areas above, so the news could push the price bullish in order to collect the sell orders above.
by andricstrahinja95
GBP/USD analysis - 23 Oct 20241.3000 acts as an important level today & if price stays below this level then we expect it to hit our target profit at 1.29675. If price breaks above 1.3000 then it should hit 1.3025. Below is our recommendation; Trade 1 (Risk 0.5% of your account size); Sell GBP/USD @ 1.2990 Stop Loss @ 1.3000 Take Profit @ 1.29675 Trade 2 (Risk 1% of your account size); Buy Stop GBP/USD @ 1.3000 Stop Loss @ 1.2990 Take Profit @ 1.3025 *Total risk is 1.5%, In case Trade 1 hits target profit then Trade 2 order must be deleted.
Short
by PalmTreeTradingUK
GBPUSD APPROACHING DISCOUNT PRICES📊GBPUSD CHART ANALYSIS Trend?📈📉 •4H - Bearish⬇️📉 •Daily - Bearish until next UNMITIGATED demand zone⬇️📉 •Weekly - Bullish📈(retracement phase) -The pound 💷 has been strong for the whole year making higher highs and higher lows. We have an overall bullish weekly trend with an UNMITIGATED demand zone and fair value gap below our recently violated higher low. - Price is slipping lower just before nfp and with new month ahead. We can anticipate price to open lower and give us a low of month before continuing a steep bullish trend📈⬆️. An update will be posted next month on this pair. For now, price is too 🏦💱expensive to fill enough buy orders to fuel the bullish trend further (or atleast to reverse market to new trend)
by ZIPHO67
GBPUSD Possible BUYThe market is currently testing the current Weekly support area. Based on Daily TF, the market seems to be forming a possible reversal chart pattern. We could see Buyers coming in strong should the current level hold. Disclaimer: Please be advised that the information presented on TradingView is solely intended for educational and informational purposes only.The analysis provided is based on my own view of the market. Please be reminded that you are solely responsible for the trading decisions on your account. High-Risk Warning Trading in foreign exchange on margin entails high risk and is not suitable for all investors. Past performance does not guarantee future results. In this case, the high degree of leverage can act both against you and in your favor.
Long
by WiLLProsperForex