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British Pound vs US Dollar

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GBPUSD.P trade ideas

GBPUSD Faces Key Resistance – Will Sellers Take Control?The GBPUSD pair is currently experiencing resistance as it trades near the 1.2975 level. After a brief recovery, the price is now approaching a critical resistance zone, highlighted in yellow on the chart. This area is where sellers are expected to defend aggressively, with the EMA lines reinforcing the bearish outlook. Technical indicators point to a potential downward move from this resistance level. The projected target, marked in green at around 1.2691, represents the next significant support. If GBPUSD respects the resistance and begins to fall, this level could provide a likely area for price consolidation or a potential bounce. Traders might consider a short position if the price remains below this resistance, aiming for the 1.2691 support area, while keeping a close watch on any signals that might indicate a trend reversal.
by Chipucu
GBPUSD_102 2024.11.05 07:20:05 Trading Signal SELLFrankPro Signal for GBPUSD_102 Type: Screen Signal: SELL TP: 1.28969 SL: 1.29897 Entry Price: 1.29781 Analysis for GBPUSD Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Probably Down Forecast Methods(Short-Term, Long-Term): ST=Down LT=Down ST=Up LT=Same ST=Down LT=Down Analysis Method(0) Based on the provided analysis and forecast, here is my assessment of the expected price movement for the GBP/USD pair: **Short-term (next few days):** * The pair is expected to experience dull trading with sluggish price movements due to a lack of significant events. * There is a possibility of a bearish correction, with the pair testing the support level near 1.2835. * If the support holds, the pair could see an upward rebound and continued growth towards the 1.3535 area. * However, a breakout below 1.2850 could open up levels around 1.2700. **Expected price movement:** Neutral to slightly bearish, with a possible rebound if support holds. **Long-term (next few weeks/months):** * The medium-term outlook suggests that the British pound has significant room for further decline. * The market anticipates that the Bank of England will lower its key rate, which could lead to a continued decline in the pound against the US dollar. * A sustained break above 1.3050 could expose recent highs near 1.3100 and 1.3175, but this seems less likely given the bearish medium-term outlook. **Expected price movement:** Bearish, with a possible decline towards levels below 1.2245 if the support near 1.2535 is broken. Please note that these assessments are based on the provided analysis and forecast, and are subject to change as new events and data become available. Result: ST=Down LT=Down Analysis Method(1) Based on the provided analysis, here are my predictions for the GBP/USD pair: **Short-term (next few days/weeks):** * The pair is currently trading above the 100-day SMA, which is a bullish sign. * The RSI is slightly above 50, indicating sellers' hesitancy, which could lead to a short-term price increase. * The immediate resistance levels are at 1.3000-1.3010 and 1.3050, which are relatively close to the current price. * The upcoming economic data, such as Durable Goods Orders and the University of Michigan's Consumer Sentiment Index, could influence the pair's movement. Prediction: **Up** (short-term price increase to 1.3000-1.3010) **Long-term (next few months/2025):** * The fundamental overview suggests that the US Dollar's strength is fluctuating, and the British pound is under pressure due to concerns over the Labour government's budget. * The forecasts from WalletInvestor and LongForecast have differing views, but both suggest significant fluctuations in the pair's price. * The market uncertainty due to economic and political factors, including the prospect of a recession and upcoming general elections, could lead to high volatility. Prediction: **Stay the same** (long-term price fluctuations within a range, potentially between 1.278 and 1.437) Please note that these predictions are based on the provided analysis and are subject to change as new data and events emerge. Result: ST=Up LT=Same Analysis Method(2) Based on the provided data, I will analyze the GBPUSD pair's expected price movement for both short-term and long-term periods. **Short-term Analysis (next few days to a week)** * The pair is currently trading above the 100-day Simple Moving Average (SMA) at 1.2970, which is a bullish sign. * However, the immediate resistance levels at 1.3000-1.3010 and 1.3050 may cap the upside movement. * The British pound's recent tumble to $1.285 due to concerns over the Labour government's budget and the expected interest rate cut by the Bank of England may lead to a short-term correction. * Market volatility is expected to be high due to upcoming political events, which could lead to intense price fluctuations. **Expected Short-term Price Movement:** Neutral to slightly bearish, with a possible correction to the support level at 1.2900. **Long-term Analysis (next quarter to a year)** * Trading Economics' global macro models and analysts' expectations suggest that the British Pound will trade at 1.28 by the end of this quarter and 1.25 in the next 12 months, indicating a bearish trend. * The descending regression channel and the pair's inability to break above the resistance levels may confirm the bearish outlook. * Analysts' projections, such as WalletInvestor's forecast of a decline to 1.309 by the end of 2024, also support the bearish view. **Expected Long-term Price Movement:** Bearish, with a possible decline to the support level at 1.2800. In summary, while the short-term outlook is neutral to slightly bearish, the long-term analysis suggests a bearish trend for the GBPUSD pair. Result: ST=Down LT=Down
Short
by frankiepro
GBPUSD Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
Long
by ShahedZare
GBPUSD - May Restore#trading_idea #GBPUSD 💡 💸Sterling - Why did the pound drop, and what should we do about it? The pound has fallen in anticipation of new data on tax cuts and energy subsidies in the UK. We could follow the tried-and-true approach — buy the dip. Here’s what to watch out for. On the 1-hour chart, the price is trying to rebound from the support 1.288. The MACD points to the possible rise. However Parabolic SAR showing the pressure on the pair. Additionally, the price is still below the 10 and 20 MA. 🔼If the price break up 1.209 we may see further rise to 1.2947. 🔽Alternatively, the price may retest the support 1.288. What do you think? 😎 Hit "👍" if you believe the price will rise and "👎" if you think it's slide. ➡️➡️ TRY SABIOTRADE NOW
Long
by sabiotrade
GBPUSD Bearish 1 Hour Divergence.1. Market Analysis: Asset: GBPUSD Timeframe: 1-hour Pattern: Bearish divergence 2. Divergence Details: Bearish Divergence: A bearish divergence occurs when the price forms higher highs, but the oscillator (like RSI or MACD) forms lower highs. This suggests that buying momentum is weakening, and a downward reversal might be on the horizon. 3. Trade Setup: Entry Point: Consider entering a short position if a bearish candlestick pattern forms after the divergence confirmation on the 1-hour chart. Look for strong confirmation like a bearish engulfing or shooting star pattern. Stop-Loss: Place the stop-loss above the recent swing high on the 1-hour chart to manage risk. This positioning protects against an unexpected upward move. Take-Profit: Identify key support levels for take-profit targets, aiming for a 1:2 risk-reward ratio. Target areas could include previous support zones or Fibonacci retracement levels. 4. Risk Management: Position Size: Calculate your position size based on your risk tolerance and the stop-loss distance. Typically, risk only a small percentage of your capital (e.g., 1-2%) on this trade. Risk-Reward Ratio: Aim for at least a 1:2 risk-reward ratio, meaning that your take-profit target is at least twice the distance of your stop-loss. 5. Additional Confirmation: Volume Analysis: Check if there is a decrease in volume as the price reaches higher highs. This can add weight to the bearish divergence setup. Support and Resistance Levels: Ensure the trade setup aligns with strong support and resistance zones for additional confirmation. 6. Trade Execution: Place Orders: Set your sell order, stop-loss, and take-profit levels based on the criteria above. Monitor the Trade: Keep an eye on the trade and adjust the stop-loss to break even or trail it if the price moves in your favor. 7. Review and Adjust: Post-Trade Analysis: After the trade closes, review the outcome to understand what worked well and any areas for improvement in future trades.
Short
by MAAwan