GBPUSD.P trade ideas
GBPUSD - Follow the Bulls!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈GBPUSD has been overall bullish, trading inside the rising wedge in orange.
Moreover, it is approaching a structure marked in green.
🏹 The highlighted blue circle is a strong area to look for buy setups as it is the intersection of the structure and lower orange trendline acting as a non-horizontal support.
📚 As per my trading style:
As #GBPUSD approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
GBP/USD Analysis: Slight Bullish Bias Expected on 14/10/2024The GBP/USD pair is expected to show a slight bullish bias today, supported by a combination of key fundamental drivers and technical factors. Traders and investors in the forex market should remain vigilant as several economic data releases and geopolitical events could shape the pair’s movements. Below is a comprehensive analysis highlighting the key factors driving this potential bullish bias for GBP/USD.
1. UK Economic Outlook
One of the major drivers for a possible bullish momentum in GBP/USD is the recent strength in the UK economy. Despite some challenges in the global economic landscape, the UK has shown resilience, particularly with stronger-than-expected GDP growth and robust retail sales. UK inflation remains elevated, with the CPI figures suggesting sustained price pressure, which could prompt the Bank of England (BoE) to consider further tightening measures. A hawkish stance from the BoE, which is already maintaining higher interest rates, would support a stronger pound, adding to the bullish sentiment in the market.
2. US Dollar Weakness
The US dollar is showing signs of exhaustion after a prolonged period of strength. USD weakness is being driven by softer inflation data, with the recent CPI report showing cooling price pressures in the US economy. The Federal Reserve may lean toward a more dovish stance, refraining from further aggressive rate hikes. This has caused the dollar to lose some of its safe-haven appeal, providing room for the pound to gain ground against the greenback.
3. Geopolitical Risks and Market Sentiment
The broader market sentiment is being influenced by geopolitical tensions , especially in the Middle East and Europe. Risk-off sentiment tends to favor the US dollar, but given the recent easing of these concerns, market participants may shift back to higher-yielding assets like the pound. A relief in risk sentiment can boost the GBP/USD pair, pushing it toward higher levels.
4. Technical Analysis of GBP/USD
On the technical front, GBP/USD is trading above its 50-day moving average, indicating a bullish trend in the short term. The pair has found strong support around the 1.2100 psychological level, with upward momentum suggesting a test of the 1.2250 resistance level. RSI (Relative Strength Index) is trending upwards, confirming the bullish bias, while MACD (Moving Average Convergence Divergence) also shows strengthening momentum.
5. Key Data Releases to Watch
Traders should keep an eye on upcoming data releases for further clues on the GBP/USD trajectory:
- UK Unemployment Rate: A stable or better-than-expected figure could lend support to the pound.
- US Retail Sales: Any softness in the US retail sector could further weaken the dollar.
- BoE Governor Bailey's Speech: Any comments on future monetary policy tightening could provide additional bullish support to the pound.
Conclusion
The GBP/USD is expected to exhibit a slight bullish bias today, driven by strong UK economic fundamentals, cooling US inflation, and broader market sentiment. The technical setup also favors upside potential, with the pair poised to target higher resistance levels. However, traders should remain cautious and monitor key data releases that could shift market dynamics throughout the day.
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GBPUSDGbpusd has reached an important support in the 4-hour time frame that RD+ also has, now if it can break the drawn channel up, it can move up to 38% of the fall in the form of price correction.
Can we get some moves this week on GU?We had a tight consolidation last week. This week I'm thinking we can get some better moves.
GBP/USD steadies above 1.3050Hello dear friends!
As we predicted, GBP/USD fluctuated and fell sharply until 1.302 and completed the sell target as mentioned earlier.
However, the price quickly reversed and stabilized around 1.306. The upside momentum of GBP/USD may be limited by the sustained strength of the US dollar, due to the geopolitical risks looming around the world and concerns about China's economy, keeping the pair within a familiar range.
In conclusion, GBP/USD is still in a downtrend, but the selling pressure has gradually decreased and the possibility of a move to the upside is due to the convergence signs from the trend line and RSI indicator. The support level around 1.302 - 1.300 has not been broken yet and remains a bright spot for GBP/USD to recover.
GBPUSD LONGPrice tapped the recent zone, made a clean market structure and hit the Order block. Imbalance filled on 15mins timeframe and expecting the price to move upside.
GBPUSD BULLISH **British pound GBP Value Correlation to USD
>We are now in the Oversold region Signaling for a bullish trend week.
Technicals:
>Price entered the Demand Zone last week, and could be ready to rally this week.
>We can see 2 consecutive higher lows
>Price could reach to the opposing Supply Zone that initiated the bearish imbalance.
OTHERS:
>Scalpers can ride the bullish trending week
>Long term traders can position for a Sell for when it reached the opposing supply zone and we get an overbought reading
***As always, trade safe and make sure to do your due diligence when analyzing the charts.***
GBP/USDFull analysis of GBP/USD
1- There is oversold selling on the MACD indicator
2- The presence of divergence on the RSI indicator
3- The presence of strong demand areas
4- The presence of your hormone model supports purchasing on a 4-hour frame
So we start looking for purchases while committing to capital management
GBPUSD SELL ANALYSIS RISING WEDGE PATTERN Here on Gbpusd price has from rising wedge pattern and break line 1.32119 and still move down so there is chance of falling more so going for Short is needed with target profit of 1.29544 and 1.27319 . Use money management
GBP/USD Looking for more sales?As you can see we are currently on a downside trend and the price it’s retesting the order blocks looking for more sales to the downside the limit for this it’s 1.30000 as a level where the price will be now oversold and can change possibly the trend
GBPUSD H1 I Bearish Reversal Based on the H1 chart analysis, we can see that the price is rising toward our sell entry at 1.3062, which is a pullback resistance aligning with a 50% FIbo retracement.
Our take profit will be at 1.3041, a multi-swing low support level.
The stop loss will be placed at 1.3081, above the swing-high resistance level.
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GBPUSD H4 I Falling from the overlap resistance Based on the H4 chart analysis, we can see that the price is rising toward our sell entry at 1.3103, which is an overlap resistance that aligns with the 23.60% Fibo retracement.
Our take profit will be at 1.3012, which is a multi-swing low support level.
The stop loss will be placed at 1.3169, an overlap resistance close to 38.20% Fibo retracement.
Additionally. When the price remains below the Ichimoku cloud, it's typically seen as a strong bearish signal, indicating downward momentum
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
GbpUsd Trade IdeaGU at one point was extremely bullish before crashing to the downside with both lower and higher time frames shifting. Price is currently at a major level. Patience is gonna pay on the set up. We can either expect price to shift bullish from the current level it's at or continue pushing to the downside and wait on some type of retest to confirm those shorts. The retest on the hourly is gonna be my confirmation just to avoid a false breakout.
sell idea but really complicated situationdouble botom but the trend line is so far to be reversal, if the reversal is here it should give a good 4hour green candle, otherwise, there will be a supply zone where we can sell till the next stop.
GBPUSD Bullish Reversal OpportunityGBPUSD price is facing a credible resistance zone. If the price action is able to print a convincing Higher High and break this zone, it may be a signal towards a proper Bullish breakout.
Bulls may eventually face a strong resistance zone around 1.3401 till 1.3515. If there is considerable Bullish momentum in this price zone, chances of TP2 may increase. Till then, opportunity may be seized by the Bulls.
Trade Plan:
Entry @ 1.31950
Stop Loss @ 1.2995
TP1 @ 1.3395
TP2 @ 1.3595
No. of Trades: 2
Move SL to Break Even if TP1 hits.
GBPUSD BUY TO $1.3200Short term buying opportunity on GBPUSD from CMP (Current Market Price), or after a break below the previous Wave 4 low ($1.30).
⭕️5 Wave Bullish Move Complete on HTF.
⭕️Bearish Wave 1 (5 Sub-Waves) Complete.
⭕️Waiting On Wave 2 (3 Sub-Wave A,B,C) Move.
GBPUSD WEEKLY ANALYSISFrom the previous week that confirmed selling momentum we could expect this week to also be bearish, esp after seeing the weekly candle trade below a weekly structural area of support and the 4hr ,making steady bearish structure points to the downside
Bullish reversal?GBP/USD is falling towards the support level which is an overlap support and a breakout from this level could lead the price to drop to our take profit.
Entry: 1.3019
Why we like it:
There is an overlap support.
Stop loss: 1.3113
Why we like it:
There is a pullback resistance that aligns with the 23.6% 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.
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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.
Sell GBP/USD Triangle Breakout The GBP/USD pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the downside in the coming hours.
Possible Short Trade:
Entry: Consider Entering A Short Position Below the Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 1.3055
Target Levels:
1st Support – 1.2988
2nd Support – 1.2960
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Best Regards, KABHI FOREX TRADING
Thank you.
GBPUSD Swing Analysis (14-19/10/2024) GBPUSD this week!!
1. GBPUSD has been in a bullish trend
2.Price recently formed a new HH and based on market structure i was expecting a formation of a HL on extreme levels after price swept liquidity below temporary lows
3. The only thing i need is CHOCH to confirm this setup
and i will be targeting weak highs.
In any case: GBPUSD breaks below the marked strong low, this will invalidate my expectation and confirm a bearish market structure shift,
Buy gbpusdCurrently oversold pair
Daily and h4 strong demand zone wait for next day candel then enter after a confirmation
GBPUSD testing support GBPUSD testing support at 1.30282
But if bearish breakout the 1.30282 the bearish trend continues
