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British Pound vs US Dollar

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GBPUSD.P trade ideas

Potential trade setup on GBPUSDWe are looking at a short trade on GBPUSD based on the stretch strategy. There is direction alignment with this trade, though the trend is still uptrend phase 2. Trade has taken out the lower stretch. We will exit the trade once range has been acheived. Trader Order Details: GBPUSD(Short) E - 1.3274 SL - 1.3307 T - 1.3217 We will be tracking this move and updating the post as we go along on the charts and on video. Keep a look out for it traders.
Short
by masterthemarkets2010
A possible good sell on GBPUSDLong story short: The two trend lines encompassing this tight range/flag can be good entry points. I know, I know GBPUSD is having a massive uptrend. I don't care! I am focused on profits! Pure profits! Through scalping & long term trading as well. In this case, if the price breaks below the lower trend line, this could be a decent scalping sell trade. If the price does break below the lower trend line, you can wait for the price to come back up to it and just kiss from below and enter there with a sell entry. A third possibility is also that the price may keep going upwards up to the upper trend line, kiss it, and then turn downwards for a move downward for some time. If that happens, I would how the price gets rejected from the upper trend line. Remember: Nothing works all the time. All we do here in this game of Forex trading is we invest/decide on the basis of the most probable next move. It may or may not work, but we simply go ahead and take the plunge, but we do have out life-jacket on! If it goes "that way," it goes, & we benefit from it as much as possible. If doesn't, it doesn't. It's as simple as that. (The long story got longer, somehow! :-) )
Short
by RiffatNadeem
Bearish divergence on GBPUSD daily chart; sterling overbought?GBPUSD has been in an uptrend since April 22, 2024, and has accumulated a 9.19% increase between April 22 and September 26. On August 27, the RSI indicator recorded a reading of 74.96, signalling a possible overbought situation. On September 26, the reading was at 71.68, which was slightly lower than the previous RSI reading. On the other hand, on August 27, GBPUSD was trading at 1.3264 before rallying to 1.3431 on September 26 – a marked gain over a monthly timespan. Sterling has since given up some of its recent gains, trading around the 1.33 mark. The pound has notably been the top performer among G10 currencies this year, rising over 5% against the dollar and 4% against the euro. Its strong rally began in late April, following a brief dip below $1.23. Sterling has appreciated by close to 10% against the U.S. dollar since last October. On a trade-weighted basis, sterling is now at its highest level since the UK's 2016 Brexit vote, just 2% below its pre-referendum level. Blistering rally for sterling on BoE, Fed rate divergence The currency's gains have been driven by expectations that UK interest rates will stay higher than those of other nations, due to persistent inflation in services and a surprisingly resilient economy. Technical indicators, however, indicate that there may be signs of a potential reverse in the trend for sterling. Some analysts have also noted that the sterling-to-dollar pair may start to look expensive soon as expectations for a 50-basis-point (bps) rate cut by the U.S. Federal Reserve will start to look misplaced. Fed Chair Jerome Powell recently pushed back against forecasts of another outsized 50bps cut, saying he sees two more interest rate cuts, totalling 50 basis points, this year as a baseline “if the economy performs as expected.” Bearish divergence may be in play for GBPUSD A classic bearish divergence occurs when the price reaches a higher high than the previous one, while the oscillator forms a lower high. This pattern often indicates a potential for a stronger pullback or trend reversal. On October 1st, the price dipped below the 8-period Simple Moving Average, and with a classic bearish divergence currently in play, this suggests a potential bearish pullback in GBP/USD. The sterling-to-dollar pair may drop to the 1.3028 level, where a support zone is expected on the daily chart. Disclaimer: 76.3% 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. Past performance is not necessarily indicative of future results. The value of investments may fall as well as rise and the investor may not get back the amount initially invested. This content is not intended for nor applicable to residents of the UK.
Short
by Marketscom
2
PREPARING FOR SHORTS ON GBP/USDGBP/USD 1D - Again we have another higher timeframe outlook on this pair and my thoughts for it are very similar to the EUR/USD market, the reason being is because the USD is quote currency for both. This suggests that we want to see strength in the USD across the board and weakness in the GBP and the EUR. I want to see price trade us up initially into the Supply Zone above. From there we want to see price begin to break down, once price trades into the area buyers in the market should be removed and sellers will be introduced, causing price to reverse nicely for us. Again those who are pre-emptive and do not want to wait for additional confluence can look to place a pending order, but those who do want additional confluence should wait for price to break structure first before looking to place a short position.
Short
by Lukegforex
Fundamental Market Analysis for October 2, 2024 GBPUSDGBPUSD: The GBP/USD pair remains weak after losses recorded in the previous session, trading near 1.32800 during Asian hours on Wednesday. The decline could be attributed to risk aversion due to rising geopolitical tensions in the Middle East, which is undermining the risk-sensitive Pound Sterling (GBP) and the GBP/USD pair. Iran launched more than 200 ballistic missiles at Israel on Tuesday, shortly after the US warned a strike was imminent. The Israel Defense Forces said several missiles were intercepted and one person was killed in the West Bank, according to Bloomberg. Israeli Prime Minister Benjamin Netanyahu vowed to retaliate against Iran after Tuesday's missile attack. In response, Tehran warned that any retaliatory strike would cause “immense destruction”, raising fears of the possibility of a wider conflict. The US Dollar (USD) is receiving support from the latest speech from Federal Reserve (Fed) Chairman Jerome Powell. Powell stated that the central bank will cut interest rates gradually over time. Fed Chairman Powell added that the recent half-point interest rate cut should not be seen as a sign of similarly aggressive action in the future, noting that upcoming rate changes are likely to be more modest. On Tuesday, Bank of England (BoE) Governor Megan Green warned that a recovery in United Kingdom (UK) consumption could trigger a new wave of inflation. However, Green noted that further interest rate cuts are likely as prices are “moving in the right direction,” Bloomberg reported. Trading recommendation: Watch the level of 1.33000, if it is fixed above consider Buy positions, if it rebounds consider Sell positions.
by Fresh-Forexcast2004