GU longObserving a weakening U.S. dollar on election day, I identified a potential opportunity and went long on GBP/USD (GU) with a 20-pip stop loss. The trade played out successfully, validating the setup and approach.
GBPUSD trade ideas
GBPUSD-BUY strategy 90MIN chartThe pair starts being positive with more upward movement possible. The channel top lies around 1.3065 and I feel this may be tested short term.
Strategy BUY current @ 1.2980-1.2990 and take profit @ 1.3068 for now.
GBPUSD 4H longThis setup was not interesting for me last week but this week it is.
The trend reached a weak and small demand zone so that's not interesting.
But given all the price action for the last 2 weeks arround this level it makes it a stronger support level.
Especially the strong bear candle so people ( including me ) think this will go bearish.
Then suddenly it goes bullish, this is how allot of people loose money and that is what "they" need to move the markets.
Entry trigger was because the price was bought up above the "weak" support line. Then we see some small indecision candles and after that another medium strong bull candle.
That is a bullish sign for me so I entered :)
There is off course US elections so high impact news but I will take that risk. The setup looks solid.
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
GBPUSD to the upsideTextbook Head & Shoulders
We will get a short bullish rally before the election results
GBPUSD possible entries.Looking at GU I foresee thIs area being a strong support especially on the H4 and H1 timeframe as price sought to take liquidity and respect FVG along with support zones...
Possible entries after H4 candle close
High probability trade.
Good luck guys
Read The GBPUSD MarketLet's Read the GBPUSD Chart and Looking at Price Actions to Prepare for start a great Week, Good Luck With Your Trades <3
GBP/USDFull Analysis of the GBP/USD Pair
1. Ascending Trend Line on the Daily Time Frame
The ascending trend line on the daily time frame shows a clear positive trend. This line is a strong indicator of upward momentum, reinforcing confidence in the possibility of the trend continuing.
2. Strong Demand Areas
Strong demand areas have been identified on the chart, representing potential buying zones. If the price bounces from these areas, we may witness strong buying pressure that supports the upward movement.
3. Appearance of a Harmonic Pattern
The presence of a harmonic pattern supports the upward movement and indicates good buyin opportunities.
4. Overbought Conditions in RSI and MACD
The overbought conditions in the RSI and MACD suggest a potential reversal. If the RSI is near the 30 level (oversold) and the MACD shows divergence, this may be a signal to look for buying opportunities.
Summary
Based on the analysis mentioned, it is recommended to look for buying opportunities at the specified support levels. 📈✨ It is always important to set clear stop-loss points and manage risk carefully to ensure capital protection. 🚀💰
GBPUSD - INTRADAY IDEAThis GBPUSD chart is according to the M30 timeframe - STOPLOSS ABOVE SWING HIGH AND TILL SWING LOW
Execute the price at the exact price mentioned, NO FOMO.
💡KEEP IN MIND💡
I am not a financial advisor and do not contribute to any of your losses or profits. To be safe, I recommend that you risk only 0.1 - 0.2% for the first week or 10 days, as no one can predict the market.
🚀Follow, I will drop daily 2-5 Intraday Charts🚀
Execute the price at the exact price mentioned, NO FOMO.
💡KEEP IN MIND💡
I am not a financial advisor and do not contribute to any of your losses or profits. To be safe, I recommend that you risk only 0.1 - 0.2% for the first week or 10 days, as no one can predict the market.
🚀Follow, I will drop daily 2-5 Intraday Charts🚀
GBPUSD = BULLISH OR BEARISH GBPUSD is more likely to continue to the downside
there might be a little pull back then continue to the downside as it should but with every thing still trade careful with proper risk management
Bearish GbpUsdTechnically this pair is currently looking bearish, I have plotted two scenarios there, we have a bearish flag(ascending channel) within a major ascending channel(bear flag). basically we have a bear flag within a bear flag. so im looking to short at the upper trendline or on the defines resistance level
GBPUSDnow Net short 70%. Have taken profits from my trades and deployed them into a hedge long. Let's see what happens
GU could be getting ready to Reverse!Now that we are in a new month AND its election week next week the market could get very volatile. Dollar has been moving bearish all week and most are still expecting it to move bullish. I'm thinking its more likely to turn bullish for a little while. Leaving the Election news to give it the bullish push it needs to start pushing back up. This could lead to some significant moves in the market. We just have to remain ready!
Yall Lock in and follow me you Youtube #NOFOMO is the channel!
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1.2979 USD, traders with an aggressive trading strategy 1.2979 USD, traders with an aggressive trading strategy could consider a sale.
A cross of the support located at 1.2873 USD
would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish.
Sellers would then use the next support located at 1.2810 USD as an objective.
Crossing it would then enable sellers to target 1.2681 USD. If the resistance 1.2979 USD were to be broken
this would simply be a sign of possible further short-term consolidation
and trading against this trend would then perhaps be more risky.
GBPUSD with two probabilities for 11/1/2024This is my idea Nbr 22 after 20 ✅️
GBPUSD with a high probability to make the decision for 11/1/2024 ✅️ :
🔸️If the price exceeds the green bar 🟩, with the bar closing in the hour above: there will be a high chance of entering a purchase as indicated in the chart, respecting the day, news and the stop loss.
🔸️If the price exceeds the red bar 🟥, with the bar closing in the hour below: there will be a high chance of entering a sale as indicated in the chart, respecting the day, news, and the stop loss.
GBPUSD bearishPlaying FVG OB
GU in bearish trend
making vivid OB and fair value gap
Wait for the lower limit of the FVG / modify the trade accordingly.
GBPUSD; Waiting for confirmation to go long.HHs AND HLs in GBPUSD for the last couple of weeks; Pair is at support but yet to confirm long move; Stay patient and negate the long bias if trendline is breached.
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GBP/USD: High-Probability Strategies Based on Classic Reversal We're looking at an interesting technical setup on the GBP/USD daily chart, where a Head and Shoulders (H&S) pattern has formed, signaling a potential trend reversal from bullish to bearish. Here’s a breakdown of the context and two trade strategies based on this pattern and key levels.
Trend and Context Analysis
The Head and Shoulders (H&S) pattern suggests a possible bearish reversal, particularly after the formation of the right shoulder. There’s an ascending channel marked by yellow dotted lines, which represents a long-term dynamic resistance level. The 50 and 200 moving averages are positioned to act as potential support and resistance levels, while the TDIGM indicator is helping us spot momentum highs and lows, providing additional context for price movement strength.
Strategies
1. Sell on Neckline Break Confirmation of the H&S Pattern
Rationale: A break of the neckline in an H&S pattern typically provides a strong sell signal. This setup is often a reliable trend reversal indicator, and a confirmed break would likely lead to a sharp decline in GBP/USD.
Risk-Reward:
.Stop above the right shoulder; target before the harmonic pattern’s point C for a favorable risk-reward ratio. The probability of success is high if the neckline break confirms, as H&S patterns often lead to significant moves.
.Entry: Sell at 1.2910 after confirming the neckline break.
.Stop Loss: 1.3070 (above the right shoulder).
.Take Profit: 1.2400 (just above the harmonic pattern’s point D).
.Risk-Reward Ratio: 1:3.
2. Buy at Lower Channel Line Support
Rationale: If the price doesn’t break the neckline and instead dips to the ascending channel's lower boundary, a buy setup may be considered. This lower channel line has historically acted as solid support, providing a controlled-risk entry point.
Risk-Reward: Place the stop below the channel, and aim for the upper channel line as the target. This strategy is more conservative, given the overall bearish H&S structure.
.Entry: Buy after a confirmed rejection of the H&S pattern and confirmation that price respects the ascending channel.
.Stop Loss: 1.2810 (below the nearest resistance).
.Take Profit: Between the left shoulder and head of the H&S pattern.
.Risk-Reward Ratio: 1:2+.
Final Thoughts
These strategies leverage both the reversal patterns and dynamic supports, as well as indicator signals. For each strategy, it’s recommended to monitor key support and resistance zones closely and confirm breakouts on lower timeframes before entering. Price action is key .
GU trade over 49 pips With liquidity being pulled and significant Euro and US news on the horizon, it's definitely a time to tread lightly. The uncertainty surrounding the US elections and the upcoming NFP report can lead to increased volatility. It might be wise to limit trading activity this week and wait for clearer signals once the events have passed. Staying cautious is a smart approach!
GBPUSDCurrent market conditions show trend continuation signals across multiple timeframes, with key levels identified for potential entries and targets.
GBPUSD bullish correction the GBPUSD is bearish meanwhile I expect the market to correct upwards to some fibo levelasI explained in the video
