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British Pound / U.S. Dollar

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GBPUSD trade ideas

Wednesday Market Outlook: Bearish Trend Expected📉 Wednesday Market Outlook: Bearish Trend Expected Tuesday’s price action played out as expected, confirming my bias. While price didn’t fully tap into my POI before the rally, the movement remains valid. --- 📊 Wednesday’s Forecast For Wednesday, I’m expecting: ✅ Monday’s high to be taken out ✅ Tuesday’s high to be taken out ✅ Price to reach my bearish POI at 1.29794 From there, I’ll be looking for a drop to 1.28835. --- 📉 Overall Bias: Bearish Given this setup, I’m maintaining a bearish stance for Wednesday. Now, it’s all about patience and execution. Let’s see how price unfolds. Are you bullish or bearish this week? Drop your thoughts below! 👇🏾 join our community for more market insights. #Forex #MarketOutlook #TradingPlan #GBPUSD
Short
by CARVAH
GBP/USD Holds Near Highs Ahead of Spring StatementGBP/USD remains near recent highs as traders await Wednesday’s Spring Statement from Chancellor Rachel Reeves. While major tax changes are off the table, revisions to the UK’s economic outlook and fiscal plans could provide fresh direction for the pound. What to Watch in the Spring Statement The key focus will be the Office for Budget Responsibility’s updated growth forecasts. Last year, the OBR had pencilled in 2% GDP growth for 2025, but weaker-than-expected data suggests that figure is due for a downgrade. Some estimates suggest it could be halved to around 1%. Meanwhile, higher interest rates have pushed up government debt servicing costs by an estimated £10bn per year, eroding the fiscal headroom Reeves had in October. With the chancellor prioritising stability, the government is expected to balance the books through welfare cuts and slightly tighter departmental spending rather than introducing new tax measures. For markets, that means a relatively muted fiscal event—but in an environment where the pound has been grinding higher, even subtle shifts in the outlook could be enough to move the dial. A Breakout, Then a Breather Sterling’s technical picture has changed significantly since the start of the year. After breaking above a long-term descending trendline in late January, GBP/USD has carved out a steepening series of higher swing lows, forming an ascending trendline fan. This structure signals increasing bullish momentum, but in recent weeks, the pair has entered a consolidation phase—pulling back slightly while holding near trend highs. At the same time, trading volume has steadily declined, dipping below its 20-day average. GBP/USD Daily Candle Chart Past performance is not a reliable indicator of future results On the hourly chart, this consolidation is even more defined. GBP/USD has established a clear range with horizontal support and resistance levels, offering traders well-structured reference points for reversals or breakouts, especially with Wednesday’s Spring Statement acting as a potential catalyst. At present, prices are languishing near the lower boundary of this range, but the RSI is not in oversold territory. However, if RSI does dip into oversold conditions and the hourly chart forms a bullish reversal pattern at the bottom of the range—an area that aligns with the ascending trendline fan on the daily chart—it would present a compelling buy signal within the broader uptrend. GBP/USD Hourly Candle Chart Past performance is not a reliable indicator of future results Disclaimer: This is for information and learning purposes only. The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance. Social media channels are not relevant for UK residents. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
by Capitalcom
GBP/USD Stable at $1.292: Budget AwaitedGBP/USD is trading steadily around $1.292 as markets await British finance minister Rachel Reeves’ spring budget update. Despite dollar strength from solid U.S. data and rising Treasury yields, the pound remains resilient, supported by cautious optimism over the UK’s fiscal outlook. Traders are watching the upcoming budget for clues on spending and economic forecasts, which could impact GBP/USD in the near term. If GBP/USD breaks above 1.3050, the next resistance levels are 1.3100 and 1.3150. On the downside, support stands at 1.2860, with further levels at 1.2800 and 1.2715 if selling pressure increases. 
by ChartMage
GBP/USD Analysis Using Elliott Wave /not financial advise GBP/USD Analysis Using Elliott Wave Current Market Structure & Elliott Wave Count Wave 3 Completed near 1.3020 (Key Resistance) Wave 4 Correction in Progress targeting 1.2880 - 1.2850 Potential Wave 5 Extension toward 1.3100+ Trading Strategy & Execution Plan Bullish Scenario (Wave 4 Completion & Wave 5 Start) 📌 Long Entry: Buy at: 1.2880 - 1.2850 Stop Loss (SL): 1.2820 Take Profit (TP1): 1.2960 Take Profit (TP2): 1.3020 Take Profit (TP3): 1.3100 🎯 Probability: 72% (If price finds support above 1.2850) Bearish Scenario (Wave 4 Deeper Correction or Reversal) 📌 Short Entry: Sell at: 1.3020 - 1.3040 (Wave 3 High Rejection) Stop Loss (SL): 1.3080 (Above Wave 5 Expected Move) Take Profit (TP1): 1.2960 Take Profit (TP2): 1.2880 Take Profit (TP3): 1.2780 🎯 Probability: 67% (If price rejects 1.3020 resistance) Final Thoughts & Risk Management ✅ Bias: Bullish above 1.2850, Bearish below 1.2780 ✅ Risk/Reward Ratio: 1:3 for Both Scenarios ✅ Volatility Factor: Watch USD Strength & GBP News Impact
Long
by MAKFX21
GBP/USD Trend Today - Further Upward?🔔🔔🔔 GBP/USD news: 👉GBP/USD continues its recovery momentum, holding onto daily gains near 1.2950 during the European session on Monday. Data from the UK revealed that private sector business activity expanded at a faster pace in March compared to February, providing support for the British Pound. 👉A weaker US Dollar (USD) at the start of the week is helping GBP/USD maintain its strength, as market sentiment improves amid easing concerns over aggressive US retaliatory tariffs. 👉Market participants will closely watch the March PMI data from the US later in the day. If the US composite PMI falls below 50, signaling a contraction in private sector activity, the Pound could see an immediate boost. Conversely, if the US PMI data comes in above 50, the USD may regain strength in the second half of the day. 👉Investors appear to believe that an economic slowdown in the US due to tariffs could force the Federal Reserve to resume its rate-cutting cycle sooner than expected. This, along with a positive tone in US stock futures, seems to be weakening the safe-haven US Dollar. Personal analysis: 👉GBP/USD will maintain its upward momentum in the short term, due to the short-term impacts negatively affecting the Dollar. 👉Technically, this pair has strong support from EMA and Fibonacci at 1.294, so it can be carefully considered in this area 👉Analysis based on Fibonacci combined with Pivot points and EMA to come up with a suitable strategy Plan: 🔆Price Zone Setup: 👉Buy GBP/USD news: 1.2910 – 1.2900 ❌SL: 1.2870| ✅TP: 1.2950 – 1.2995 FM wishes you a successful trading day 💰💰💰
Long
by FM-ForexMastermind
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