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British Pound vs US Dollar

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GBPUSD.P trade ideas

GBP/USD - Trade Plan and StrategyThe British Pound (GBP) against the US Dollar (USD) on the 1-hour timeframe has been following a bearish trend, as evidenced by the trendline and the formation of consecutive lower highs (LH) and lower lows (LL). However, the trend appears to be reversing, as the price has broken above the bearish trendline and has started forming higher highs (HH) and higher lows (HL), suggesting a potential shift to an uptrend. Trade Plan: The plan is to enter a long position if the price breaks above the second higher high (HH) level, signaling a confirmation of the trend reversal. The entry price is set at 1.30205, with a risk-reward target ratio of 1:2. The stop-loss level is set at 1.29575 to manage downside risk, while the take-profit levels are positioned at 1.30830 (TP1) and 1.31460 (TP2).
Long
by Naqash16046
**GBP/USD 15-Minute Forecast: Key Levels in Play**🔄 **GBP/USD 15-Minute Forecast: Key Levels in Play** 📉📈 GBP/USD is currently at **1.29484**, and we're expecting a short-term move up to **1.29861**. If it hits this resistance level, a potential reversal could bring the price down toward **1.28631** as a target. 🔍 **Key Levels to Watch:** - **Current Price:** 1.29484 - **Resistance:** 1.29861 - **Bearish Target:** 1.28631 💡 **Our Strategy:** Watching for a break at 1.29861 to confirm the setup. This could open up opportunities as the market tests support levels. 👉 Are you on the same page with GBP/USD? Share your insights! #GBPUSD #ForexTrading #15MinChart #PricePrediction #Pipnest
Short
by pipnest
GBPUSD_119 2024.11.01 07:01:11 Trading Signal BUYFrankPro Signal for GBPUSD_119 Type: Screen Signal: BUY TP: 1.29501 SL: 1.28917 Entry Price: 1.2899 Analysis for GBPUSD Forecast Overall(Short-Term, Long-Term): ST= Strong Down LT= Probably Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Down ST=Down LT=Up ST=Down LT=Up Analysis Method(0) Based on the provided analysis, here is my assessment of the expected price movement for the GBP/USD pair: **Short-term (next few days):** * The price is expected to go down. The bearish setup targets the level of 1.2900, and the failure to sustain above 1.3000 has led to a rebound downwards, indicating ongoing downward pressure. * The immediate outlook is cautious due to the ongoing bearish correction, and the pair may attempt to test the support area near 1.2975 before potentially continuing its decline. **Long-term (next few weeks/months):** * The overall trend is bearish, and the pair is expected to maintain its downtrend. The technical analysis highlights the importance of watching key levels, and any significant movements will be influenced by upcoming economic data releases. * However, if the pair can break out above 1.2990, it could potentially lead to a bullish reversal. Nevertheless, this is not the primary expectation based on the current analysis. In summary, the GBP/USD pair is expected to decline in the short-term, with a potential target of 1.2900. In the long-term, the pair is expected to maintain its downtrend, but a bullish breakout above 1.2990 could potentially lead to a reversal. Result: ST=Down LT=Down Analysis Method(1) Based on the provided analysis, here are my expectations for the GBP/USD exchange rate: **Short-term (next few days):** The price is expected to go down. The current bearish setup targets 1.2900, and the recent decline in the pound due to the UK's new budget announcement supports this expectation. Additionally, the technical analysis suggests that the GBP/USD will test the support area near 1.2975, which could lead to further downward movement. **Long-term (next few weeks/months):** The price is expected to stay the same or potentially go up. Although the current trend is bearish in the short term, the technical analysis mentions a possibility of continued growth after the support test at 1.2975. Furthermore, the GBP/USD rate had previously re-tested the 1.30 level, indicating that there is still some upward momentum in the market. However, this expectation is less clear-cut than the short-term expectation, and the price movement will likely depend on future market data releases, such as the PCE index. Result: ST=Down LT=Up Analysis Method(2) Based on the provided analysis, here is my assessment of the expected price movement for the GBP/USD pair: **Short-term (next few days):** * The price is currently attempting to break through the lower boundary of an ascending price channel, which suggests a potential short-term downtrend. * The bearish setup targeting 1.2900 and the expected trading range of 1.2914-1.3050 also indicate a possible short-term decline. * However, the higher linear regression channel indicating an upward tilt suggests that the downtrend might be limited. **Expected short-term price movement:** Down (targeting 1.2900) **Long-term (next few weeks/months):** * The ascending price channel and the higher linear regression channel indicating an upward tilt suggest a potential long-term uptrend. * The bullish breakout anticipated at 1.2990 also supports a long-term bullish outlook. * However, the UK budget and tax hike announcement may continue to influence the pair's direction, potentially leading to further volatility. **Expected long-term price movement:** Up (with potential for further volatility) Please note that these assessments are based on the provided analysis and are subject to change as new market data and events become available. Result: ST=Down LT=Up
Long
by orbborisson
GBP/USD Descending Broadening wedge Today marked the 5th hit on the trendline validating the pattern. Typicllay broadening descending wedges are a bullish sign. Coupled with the fact that GBP/USD made its way very close to key levels of support today and news drops come later today I would expect a breakout coming shortly. I will be patiently waiting for entry into a bullish trend however I have not taken my eyes off the current levels of support. If we break bellow further downward potential is still possible. **KEYS FOR REVERSAL CURRENTLY MET** 1. Bullish RSI Divergency on 4HR Chart. Current Low set a higher low on the RSI. 2. 5 touches on both sides of the shown pattern (Validating patterns presence) 3. Over a 4% downward move for GBP/USD with no major corrections (I look for 3-5%) 4. At Key Level of Support
Long
by Nicholas_k
GBPUSD - Risk On Hedge ShortOk so I am short here GBPUSD as I think this may be quite a significant top here. Notice similar to dollar inverted that is has tapped into oversold on the week chart. Also notice that it has hit a very similar RSI as the previous top. RSI tends to rhyme so this is signalling higher chance of a pivot in this area. It has also breached the blue 500 week MA. It has only done this twice since the 2008 collapse; in 2009 and 2014. On both occasions it immedietly rejected into a sharp downtrend (see chart below). So this should be an area of heavy resistance. The trend up from the base appears to be a wonky 5 wave move. The first 2 waves extend to capture current price within a weak 1:0.618 Golden Window. And then wave 3 and 4 extend to capture current price within a balanced 1:1 Golden Window. So in terms of ratio this area is higher probability for a major reversal. The whole trend has been steadily shallowing to the upside and this may be a sign of weakness. So there are many alignments signalling that a significant top may be in this area. This trade is nice hedge against risk on I think. Because it is bullish dollar. And if risk on slumps while dollar bounces then this trade can do well. I haven't set any targets yet as first I would like to see if it becomes impulsive to the downside. I have opened a position here and may add more on bounces 👀. 2009, 2014 500WMA rejections: Dollar: Not advice
Short
by dRends35
GBPUSD Is Very Bearish! Sell! Please, check our technical outlook for GBPUSD. Time Frame: 4h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 1.291. Taking into consideration the structure & trend analysis, I believe that the market will reach 1.287 level soon. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
Fundamental Market Analysis for October 31, 2024 GBPUSDThe Pound-Dollar pair continued to decline to the 1.29550 level in the early Asian session on Thursday. The Pound Sterling (GBP) is declining following the UK budget announcement. Later on Thursday, attention will shift to US Personal Consumption Expenditure (PCE) price index data. The UK's New Labour government released its first budget on Wednesday, which includes a GBP 40 billion tax hike to plug a hole in public finances and allow investment in public services, CNBC reported. One of the measures that is projected to bring the most revenue to the UK's coffers is an increase in the amount employers pay in National Insurance (NI), a payroll tax. US Gross Domestic Product (GDP) for the third quarter came in below expectations. ADP's October employment change report showed that private companies hired more people than expected. According to the CME FedWatch tool, traders estimate the probability of a 25bp Fed rate cut at the November meeting at nearly 95.2%. The release of US PCE inflation data on Thursday may provide some hints on the size and pace of a rate cut by the US Federal Reserve (Fed). Core PCE is expected to rise 0.2% m/m in September, while core PCE for the same period is expected to rise 0.3% m/m. The softer-than-expected result may raise hopes for deeper rate cuts and put pressure on the US dollar. Trading recommendation: Watch the level of 1.29500, if the level is fixed below we consider Sell positions, if the level rebounds we consider Buy positions.
by Fresh-Forexcast2004