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British Pound vs US Dollar

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GBPUSD.P trade ideas

GBPUSD LONG 150PIPS1. Key Support and Resistance Levels Identify recent support levels to confirm the stop-loss placement around 340 pips below your entry. If the price sits close to a strong support level, this might provide a buffer against further declines. Ensure your 150-pip target is near a resistance level, especially if GBP/USD has been trending upward. Resistance nearby could indicate the trade is likely to reach the take-profit level. 2. Fundamental Analysis GBP/USD is highly sensitive to economic news from both the UK and US, including interest rate decisions by the Bank of England (BoE) and Federal Reserve, as well as data like employment figures, inflation reports, and GDP releases. Check for upcoming economic data releases that could cause volatility in GBP/USD, as this would impact the probability of reaching your take-profit level without hitting the larger stop loss.
Long
by LORDOFTHETRADERS
GBP/USD Reversal AlertGBP/USD has reached its weekly resistance level, forming a bearish divergence alongside an almost double-top pattern, signaling potential downside pressure. While the U.S. dollar may exhibit temporary bullish momentum, contributing to a potential reversal in GBP/USD, caution is advised as the ABCD pattern remains incomplete. Traders should be mindful of this incomplete formation and manage risk appropriately when considering a reversal trade.
Short
by AnalytixEdgeByQasim
9
GBPUSD technical bearish, eye on BoE MPCMarket expectations for the November 7 meeting The Bank of England's (BoE) Monetary Policy Committee (MPC) will meet this Thursday, with 90% of market participants expecting interest rates to be cut by 25 basis points from 5% to 4, 75%. This follows the central bank's first interest rate cut of 2024, which took place at the meeting ending on July 31, 2024. At this meeting, the MPC voted with a majority to reduce the Interest Rate Bank interest rate 0.25%, down to 5%. Key economic indicators influence decisions Recent data paint a complicated picture for BoE decision-makers. The current inflation index of 1.7% is lower than the bank's 2% target, so is no longer an immediate concern for the BoE. According to the Office for National Statistics, the UK unemployment rate (for those aged 16 and over) is estimated to be 4.0% in June to August 2024 compared to 4.1% before there. From June to August 2024, average annual employee regular earnings growth (excluding bonuses) is 4.9% and the region's average annual regular earnings growth public sector was 5.2%, down 5.7% compared to the same period three months ago; for the private sector it is 4.8%. Global monetary policy context The US Federal Reserve (Fed) also meets this Thursday, with markets pricing a 25 basis point interest rate cut to 4.50%-4.75% with a probability of nearly 100%. This creates an interesting context for the BoE's decision as global central banks are increasingly shifting their focus from fighting inflation to supporting economic growth. Analyze technical prospects OANDA:GBPUSD On the daily chart, GPB/USD recovered from the lower edge of the price channel, however, the recovery was limited as the main trend of GBP/USD up to now is still a downtrend noticed by the channel. price. GBP/USD is also under pressure from the 0.236% Fibonacci retracement level, the 1.30042 horizontal resistance level and the EMA21 moving average. Even if GBP/USD manages to move above 1.30042, it still doesn't have much solid bullish conditions as there are other resistance levels above from 1.30448 and the confluence of the upper channel edge with the 0.382% Fibonacci. As long as GBP/USD remains below Ema21 and within the price channel it remains technically bearish, while the Relative Strength Index is also close to 50, the 50 level being considered resistance when RSI is below this level. During the day, the technical outlook for GBP/USD is bearish with the highlights listed below. Support: 1.29073 – 1.28448 Resistance: 1.29842 – 1.30042 – 1.30448 – 1.30705
by Xayah_trading
GBPUSD_119 2024.11.04 01:45:04 Trading Signal BUYFrankPro Signal for GBPUSD_119 Type: Screen Signal: BUY TP: 1.30272 SL: 1.2964 Entry Price: 1.29719 Analysis for GBPUSD Forecast Overall(Short-Term, Long-Term): ST= Probably Up LT= Probably Down Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Up LT=Down ST=Up LT=Down Analysis Method(0) Based on the analysis, here are my predictions for the GBP/USD pair: **Short-term (next few days):** * The pair is expected to test the support area near 1.2935, which may lead to a slight decline. * However, the overall forecast suggests an attempt to develop a decline followed by a rebound, indicating a potential short-term bounce. * The US Nonfarm Payrolls (NFP) data for October, scheduled for release later on Friday, may influence the USD's strength and affect the GBP/USD pair. * Given the bearish trend indicated by moving averages, I predict the price to **go down** in the short term, but with a potential rebound. **Long-term (next few weeks/months):** * The pair is expected to rebound upwards, with a target of around 1.3175. * A breakout of the resistance area above 1.3105 would confirm the growth scenario. * The UK's Autumn Forecast Statement and the Office for Business Responsibility's upward revision of inflation forecasts may cap the downside for the Pound Sterling, suggesting less likelihood of interest rate reductions by the Bank of England. * Given the overall forecast and technical analysis, I predict the price to **go up** in the long term. Please note that these predictions are based on the analysis provided and are subject to change based on new market data and events. Result: ST=Down LT=Up Analysis Method(1) Based on the provided data, here is my analysis of the expected price movement for the GBP/USD pair: **Short-term analysis (next few days to a week):** * The formation of a "Triangle" model and the relative strength indicator (RSI) suggest a potential rebound and continued growth towards the level of 1.3175. * The pair is currently trading near the support area of 1.2935, which could lead to a bounce back. * A close above 1.3000 could target resistance at 1.3100 and the 50-day SMA at 1.3139. * Therefore, in the short-term, the price is expected to **go up** towards the 1.3175 level. **Long-term analysis (month of November and end of 2024):** * The monthly forecast for November 2024 suggests a decline in the GBP/USD rate, with an average forecast of 1.273 and a predicted rate of 1.269 at the end of the month. * Analysts at WalletInvestor project a bearish trend for the GBP/USD pair, with the rate expected to decline from 1.321 to 1.309 by the end of 2024. * However, the forecast for November from LongForecast suggests a high exchange rate of 1.306, which is higher than the current trading level. * Considering the mixed forecasts, in the long-term, the price is expected to **stay the same** or experience a slight **decline**. Please note that these analyses are based on the provided data and should not be considered as investment advice. The foreign exchange market is highly volatile, and prices can change rapidly due to various market and economic factors. Result: ST=Up LT=Down Analysis Method(2) **Short-Term Analysis (Next few days to a week)** Based on the provided data, the short-term forecast for the GBP/USD pair is slightly bullish. The pair is expected to test the support area near 1.2935 and then rebound, continuing its growth towards 1.3175. The technical analysis also suggests a potential rebound from the support line, and a close above 1.3000 could target resistance at 1.3100 and the 50-day SMA at 1.3139. However, a close below 1.2971 could lead to further downside risk. **Expected Price Movement (Short-Term): UP** **Long-Term Analysis (Next few months to a year)** The long-term forecast for the GBP/USD pair is mixed and uncertain. WalletInvestor predicts a bearish trend, with a decline to 1.309 by the end of 2024 and further to 1.278 in 2025. On the other hand, LongForecast suggests significant fluctuations in 2025, with a range between 1.336 and 1.437. However, the overall trend is expected to be volatile and uncertain. **Expected Price Movement (Long-Term): UNCERTAIN (BOTH UP AND DOWN POSSIBLE)** Result: ST=Up LT=Down
Long
by frankiepro
GBPUSD → Confirmation of a trend change. The Bear ZoneFX:GBPUSD confirms the bearish market structure. The fundamnetal factor is favorable for further decline. Since the opening of the session, the price has been testing the previously broken boundary. The market is not ready to resist the sellers yet On the background of difficult situation in the west, the course of interest rate cuts in the UK, a pool of sell orders is forming in the zone 1.315 - 1.300. Buyers are turning around. On Monday, in the Asian session, the retest of the previously broken trend support ended with a downward impulse, which confirms the bearish mood in the market. GBPUSD confirms the price exit from the channel. It is possible that another retest is possible, as the dollar is forming a short-term correction, but it does not change the general essence of it Resistance levels: 1.3044, 1.3068 Support levels: 1.300, 1.2975, 1.2938 The trigger for the continuation of the fall will be the breakdown of 1.3000 and further consolidation of the price below this zone. Additional scenario: retest of 1.3063 - 1.3075 before further fall Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;) Regards R. Linda!
Short
by RLinda
3
Quick Short Thought ProcessSoooo Same As Last Week I Will Be Watching My 3. A/U, G/U, And U/J... While Checking For Movement After A Nice Nap . I Notice A Bit Of A Gap In A/U And G/U That May Have Happened When I Logged Off To End My Week.. But Im Currently In A Short On G/U, My Second Trade Of The Day I Entered At 1.295600 For This One About 2 Pips In Profit But 8 Pips On G/U Total.. Im Almost Positive That It Will Start To Go Back Up Soon Just Because The Markets Does That Sometimes... (Actually Shot Up As Im Writing This Post) But I Think That Both G/U And A/U Will Take The Time To Close Those Gaps Today And Maybe Tomorrow So Thats What Im Counting On For Today. I Wil l Continue To Watch My Screeners Just In Case Tho. Sometime Tonight I Want To Try A Few U/J Calls And See Where That Gets Me. Once I Re-establish My Highs And Lows I Will Post A Screenshot With My Next Plans For Any Feedback Is Appreciated .
by imelaninn