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British Pound vs US Dollar

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GBPUSD.P trade ideas

How BIRTISH PoUnd will reactInstrument: Time Frame: H4 Chart Observations: 1. Consolidation Movements were find in a downward trend with in strong resistance and support zone 2. Inverse Flag Chart pattern has also observed indicating further downward momentum 3. We will see break down at support zone in a short time because volume is in a high position 4. Fast E.M.A has crossed the slow E.M.A from upside to downward indicating bearish trend Trading Strategy: In this trade Our Risk Reward Ratio will be (1:5) Enter trades as market will arrive on 1.29737 Take Profit1 = 1.29437 Take Profit2 = 1.29137 Take Profit3 = 1.28835 Stop Loss = 1.30000
Short
by Fxjames0009
1
Fundamental analysis of the market for 16.10.2024 GBPUSDGBPUSD: The GBP/USD pair is trading around 1.3065 today, although it lacks bullish confidence. The release of the UK Consumer Price Index news event weakened the Pound against the Dollar. Ahead of the key data release, speculation that the Bank of England (BoE) may move to accelerate its rate cut cycle continues to undermine the British Pound (GBP) and act as a headwind for the GBP/USD pair. That said, the moderate decline in the US Dollar (USD) is providing some support to the currency pair and helping to limit the downside. From a technical perspective, the range-bound price action can still be categorized as a bearish consolidation phase amid the recent pullback from the 1.3435 area, or the highest level since March 2022, reached last month. In addition, the oscillators on the daily chart are holding in negative territory and are still far from the oversold zone. Trading recommendation: Trading mainly by Sell orders from the current price level.
Short
by Fresh-Forexcast2004
GBPUSD Bullish Breakout: Key Levels and Price Action Setup Get ready for a deep dive into my bullish bias on GBPUSD! In this video, I break down key levels, price action, and the technical indicators that point towards an upward movement in the GBPUSD pair. Whether you're a beginner or a seasoned trader, this analysis will help you understand the potential opportunities in the current market. Stay tuned for insights on entry points, stop loss placement, and target levels to maximize your gains. Don’t forget to like, subscribe, and hit the bell icon for more trade analysis and forex tips!
Long
by SupaMaxwellforex
GBPUSD Long Opportunity: Bullish Falling Wedge & MACD RDI’m looking to buy GBPUSD on a breakout from a bullish falling wedge pattern, spotted on the H2 timeframe. The MACD indicator shows regular divergence (RD), signaling weakening bearish momentum. This divergence indicates potential reversal, supporting the breakout. Trade Setup: Pattern : Bullish Falling Wedge Timeframe: H2 Entry: Upon confirmation of the breakout Stop-loss: Just below the wedge structure to minimize risk Target: 1.3240
Long
by SRA_Trades
GBP/USD drops below 1.30 on soft inflation reportThe British pound has finally showed some movement on Wednesday after a week of limited movement. In the European session, GBP/USD is trading at 1.2992, down 0.62% on the day. The pound fell below the symbolic 1.30 level for the first time since August 20. The UK inflation report for September was projected to hit a milestone and fall below the BoE’s 2% target, but the reading exceeded expectations. CPI fell to 1.7% y/y, down from 2.2% in August and below the market estimate of 1.9%. This was the lowest level since April 2021 and was driven by lower prices for petrol and airfares. Services inflation, which has been stubbornly high, dropped from 5.6% y/y to 4.9%, its lowest level since May 2022. Monthly, CPI was flat, below 0.3% in August and below the market estimate of 0.1%. Core CPI also decelerated in September and was lower than expected (3.2% y/y and 0.1% m/m). As well, wage growth slowed to 4.9% in the three months to August, down from 5.1% previously. The Bank of England will be encouraged by the drop in inflation and in wages. The UK economy is groaning under the weight of a cash rate of 5% and the markets are looking at a rate cut in November as a done deal, while a December cut is a strong possibility. Many major central banks have shifted their primary focus from inflation risks to the labor market, and we could see the same with the BoE, now that inflation is back below the BoE’s target. GBP/USD has pushed below support at 1.3071, 1.3039 and 1.3004. The next support level is 1.2972 1.3106 and 1.3138 are the next resistance lines
by OANDA
UK Inflation Softens Across Key Metrics; GBP FallsAccording to a report released by the Office for National Statistics (ONS) this morning, UK inflationary pressures in September eased across all key indicators. This, of course, will be welcomed news for the Chancellor of the Exchequer, Rachel Reeves, as she prepares to deliver her first Annual Budget at the end of the month. CPI Inflation Dips Below BoE Target Headline CPI inflation (Consumer Price Index) slowed to 1.7% (YoY), touching a three-year low and was comfortably lower than the 2.2% reading in August. Opening the door for the Bank of England (BoE) to become a ‘bit more aggressive’ with easing policy, this positions the headline metric below the BoE’s inflation target of 2.0% (first time since April), as well as beneath recent BoE projections (August) and comfortably south of market estimates of 1.9%. Per the BoE’s latest projections, CPI inflation is expected to remain above 2.0% in 2025 and fall below target in 2026. ONS chief economist Grant Fitzner commented: ‘Lower airfares and petrol prices were the biggest driver for this month's fall. These were partially offset by increases for food and non-alcoholic drinks, the first time food price inflation has strengthened since early last year’. Excluding energy, food, alcohol and tobacco, core (YoY) inflation cooled to 3.2%, easing from 3.6% in August (market consensus: 3.4%). Regarding services – a measure that the BoE monitors closely – YoY inflation came in at 4.9% versus 5.2% expected and 5.6% in August. This is quite the drop and represents the first time in over two years that this measure has been south of 5.0%. GBP on the Ropes Following the lower-than-expected inflation data, the GBP (British pound) saw a reasonably strong downside move, with FTSE 100 futures higher. Thirty minutes following the release, the UK government bond market (Gilts) opened with a moderate dovish rate repricing to 24 basis points (bps) of easing compared to 20bps of cuts before the release. This assigns a 90% probability that the BoE will reduce policy by 25bps at 7 November meeting. Following the open, there was some extension to the downside in the GBP. However, while a rate cut is on the table for November, strengthened by comments from BoE Governor Andrew Bailey in September – communicating the central bank could become ‘more aggressive’ and a ‘bit more activist’ in easing policy should inflation continue to subside – ‘the upcoming budget is seen as the final hurdle’, according to Suren Thiru, Economics Director at ICAEW. Thiru added: ‘Rate setters will want to assess the inflationary impact of any measures announced before loosening policy again’. Technically, the GBP/USD is testing key support on the daily chart at US$1.2994. The FP Markets Research Team recently noted, ‘this support level is positioned directly south of the higher low formed on 11 September at US$1.3002, and whipsawing below this base would likely trip stops and provide liquidity (sell orders) for longs at US$1.2994’. The concern for some investors will be price action on the monthly chart navigating below support from US$1.3111.
by FPMarkets
Pound Falls After Inflation ReportPound Falls After Inflation Report The Consumer Price Index (CPI) report for the UK was released today, showing that inflation is decreasing at a faster rate than analysts had predicted. According to data from ForexFactory: → Yearly CPI: actual = 1.7%, forecast = 1.9%, previous = 2.2%; → Yearly Core CPI: actual = 3.2%, forecast = 3.4%, previous = 3.6%. The currency market responded with a decline in the pound sterling against other currencies. Traders likely assume that the Bank of England now has stronger reasons to consider easing its current monetary policy, aimed at curbing inflation. Specifically, the GBP/USD rate fell to its lowest in nearly two months. Technical analysis of the GBP/USD chart shows that: → The price dropped below the psychological level of 1.3000; → It fell beneath the lower boundary of the ascending channel (shown in blue), which had been relevant since May 2024. Resistance could be expected after breaking this line. Bearish momentum may extend into the US trading session. It is possible that the GBP/USD rate could drop further to 1.2900, where the lower boundary of a developing descending channel is becoming clearer on the GBP/USD chart today. 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
2