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British Pound vs US Dollar

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GBPUSD.P trade ideas

Market Analysis: GBP/USD Takes HitMarket Analysis: GBP/USD Takes Hit GBP/USD started a fresh decline below the 1.3200 zone. Important Takeaways for GBP/USD Analysis Today - The British Pound started a major decline from the 1.3400 resistance zone. - There was a break above a key bearish trend line forming with resistance at 1.3000 on the hourly chart of GBP/USD at FXOpen. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair struggled to continue higher above the 1.3400 resistance zone. The British Pound started a downside correction and traded below the 1.3200 support zone against the US Dollar. The pair even traded below 1.3040 and the 50-hour simple moving average. Finally, the bulls appeared near the 1.2975 level. A low was formed at 1.2973 and the pair is now consolidating losses. There was a minor recovery wave above the 23.6% Fib retracement level of the downward move from the 1.3102 swing high to the 1.2973 low. Besides, there was a break above a key bearish trend line forming with resistance at 1.3000. Immediate resistance on the upside is 1.3040 or the 50% Fib retracement level of the downward move from the 1.3102 swing high to the 1.2973 low. The first major resistance is near the 1.3075 zone. The main hurdle sits at 1.3100. A close above the 1.3100 resistance might spark a steady upward move. The next major resistance is near the 1.3180 zone. Any more gains could lead the pair toward the 1.3220 resistance in the near term. Initial support on the GBP/USD chart sits at 1.3000. The next major support sits at 1.2975, below which there is a risk of another sharp decline. In the stated case, the pair could drop toward 1.2900. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
GBP/USD: The weight of evidence approachThere are always reasons not to take a trade. You have to take a 'weight of evidence' approach - and you'll still often be wrong ;) The idea: Trade GBP/USD short on a daily close below critical support. Looking for 2:1 RR Reasons for: Trend is lower (falling fractals / price below the 50 DMA) Momentum is to the downside (MACD below zero) If the break holds, then long term trend has turned to a downtrend, adding more force to the short term downtrend. Reasons against: Already had a big move lower Longer term trend has been up - this maybe an exaggerated pullback. The nice thing about trading, you don't have to stay wrong. If this breakdown trade fails - it tells us the market has strength. So then we can wait to trade a break above resistance or a fractal
Short
by jasperlawler
GBPUSD InsightPlease feel free to share your personal opinions in the comments. Don’t forget to like and subscribe! Key Points: - Eurozone's final September CPI shows a 1.7% increase, slowing from the previous month. - ECB cuts its three key interest rates by 25bps each during its monetary policy meeting. - Bank of England is expected to cut rates by 25bps. - U.S. Federal Reserve projected to lower rates by 25bps in both November and December. - U.S. weekly initial jobless claims recorded 241,000, a decrease compared to the previous week. - U.S. September retail sales rose 0.4%, exceeding both the previous month and forecasts. Economic Indicators: - October 24: U.S. October Manufacturing PMI and Services PMI. GBP/USD is facing resistance around the 1.34000 level and is currently testing direction again near the 1.30000 level. If it rebounds from this range, it could rise to the 1.38000 level. However, if it breaks through the support, a decline to the 1.26000 level is expected. Given the current uptrend, there is a high chance of maintaining the lower levels, and should it break the 1.30000 level, a rebound from the bottom is anticipated. If unexpected movements occur, I will adjust the strategy swiftly.
Short
by shawntime_academy
Pullback resistance ahead for the Cable?The price is rising towards the resistance level which is a pullback resistance and could reverse from this level to our take profit. Entry: 1.3033 Why we like it: There is a pullback resistance level. Stop loss: 1.3080 Why we like it: There is an overlap resistance level that lines up with th23.6% Fibonacci retracement. Take profit: 1.2940 Why we like it: There is a pullback support level that is slightly below the 61.8% Fibonacci retracement. Enjoying your TradingView experience? Review us! 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.
Short
by VantageMarkets
GBP/USD Bears seek to target @1.28000 By the End of next week am hoping to see the Current Price Movement, of the pair as follows the unmitigated orders sitting at 1.28000 handles will be a strong revisiting zone to fulfil pending sell orders. It will be a potential area of demand, where the price might bounce back or consolidate if tested. The first take profit (TP1) will be @ 1.28155, just above the unmitigated orders at 1.28000. The second take profit (TP2) will be @1.27349, which is likely an extended target following a potential break of the 1.28000 level. This will suggest a bearish view with the price expected to decline to these levels. Other Key Levels My projection shows that the price might drop from its current levels around 1.30683 to test lower zones, with a possible move towards 1.28000 (unmitigated orders). If this level is broken, the chart anticipates a further drop to the second TP around 1.27349.
Short
by que
2
TAPDA PRECISION After price falling heavily Wednesday taking out intermediate/short term low I anticiapated a Thursday reversal, weekly profile. I framed my trade and patiently was waiting for the 90min tf cycle of 3:30 to take out the 3:30 low. Once was taken out already. I had clear accumulation before Market open and knew it would take manipulation to get to my anticipated price point once price point was hit sell side liquidity was engineered for long positions and price swiftly distributed. ACCUMULATION_MANIPULATION_DISTRIBUTION WITH TIME PRECISION COMBINED WEEKLY PROFILES CBDR & ASIAN RANGES REMEMBER FRIENDS HIGH TIME FRAME PD ARRAYS/KEY LEVELS IS CRUCIAL FOR LOWER TF PROBABILITY!!!
Short
by FX_precision
GBPUSD - Look for Continuation Long (SWING) 1:5!GBPUSD is displaying a gradual bullish momentum following a strong upward trend on the HTF. After breaking the HTF key resistance level, it corrected to the nearest Demand Zone. On the LTF, GBPUSD appears to be accumulating before resuming an upward trend toward the Supply Zone, where a reversal market structure may form, supported by the DVX. Disclaimer: This is simply my personal technical analysis, and you're free to consider it as a reference or disregard it. No obligation! Emphasizing the importance of proper risk management—it can make a significant difference. Wishing you a successful and happy trading experience!
Long
by S-Fx_
GBPUSD Ready for a breakthroughHello Traders In This Chart GBPUSD HOURLY Forex Forecast By FOREX PLANET today GBPUSD analysis 👆 🟢This Chart includes_ (GBPUSD market update) 🟢What is The Next Opportunity on GBPUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexMasters2000
Trading GBPUSD | Judas Swing Strategy 15/10/2024Last week proved challenging for the Judas Swing strategy, with three consecutive losses and no wins, which heightened our anticipation for this week. Will we be able to break this losing streak? We'll soon find out. We typically arrive at our trading desks five minutes before the session starts to delineate our zones and settle into the trading rhythm. After delineating our zones, the next step is to wait for a sweep of a high or low of the trading zone, which will assist us in establishing our bias for the trading session. Forty-five minutes later, price swept the liquidity at the high, indicating that we should look for selling opportunities during this trading session. A few minutes after the high was swept, we observed a Break of Structure (BOS) on the sell side, which was encouraging as we avoid entering trades without analysis, even with a sell bias established for the session. Upon identifying the BOS, the next step is to find a Fair Value Gap (FVG) within the price leg that broke structure. The final step in the entry checklist is to wait for price to pull back into the Fair Value Gap (FVG) and to execute the trade only after the candle that enters the FVG has closed. Shortly after, a candle entered the FVG, indicating that we could execute our trade following the close of the candle. 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, we experienced a significant drawdown, which is a critical point for those who risk more than they can afford to lose. After a patient wait, the trade has turned around and begun to move in our favor, which is thrilling. However, we must still keep our composure as the objective has not yet been achieved 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. After 15 hours and 20 minutes, our patience was rewarded when our take profit (TP) target was reached, resulting in a 2% gain on a trade where we risked 1%.
Education
by CleoFinance