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British Pound / U.S. Dollar

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GBPUSD trade ideas

#GBPUSDRising Wedge Breakdown: The price is breaking down from a rising wedge pattern. Rising wedges are generally seen as bearish reversal patterns, especially when the breakdown occurs after a significant rally, which suggests a potential reversal of the uptrend. Fair Value Gap (FVG): The chart highlights an FVG (Fair Value Gap), which could indicate that price might have filled this inefficiency, signaling the potential start of a bearish move. After the FVG is filled, price often resumes its primary direction, in this case, downwards. Bearish Trendline Break: The price has either tested or broken below a key trendline that has supported price action for a significant period. A clear break below this trendline often leads to further downside as the market turns more bearish. Projection of Bearish Momentum: The red arrow drawn on the chart suggests a projected significant downward move, with a potential target far below the current price level, reinforcing the bearish outlook. Given these technical factors, the chart suggests that the pair might be due for a correction or a more extended downtrend. A short position could be considered if price continues to break down below support levels and confirms the wedge breakdown. Proper risk management is essential in case of a reversal.
Short
by TheRealHawk
Bearish drop?GBP/USD is rising towards the resistance level which is a pullback resistance that lines up with the 23.6% Fibonacci retracement and could drop from this level to our take profit. Entry: 1.2943 Why we like it: There is a pullback resistance level that lines up with the 23.6% Fibonacci retracement. Stop loss: 1.2999 Why we like it: There is a pullback resistance level that lines up with the 50% Fibonacci retracement. Take profit: 1.2885 Why we like it: There is a pullback support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
Fundamental Market Analysis for October 24, 2024 GBPUSDEvents to pay attention to today: 11:30 GMT+3. GBP - PMI Composite 22:45 GMT+3. GBP - BOE Governor Andrew Bailey Speaks GBPUSD: On Wednesday, the GBP/USD exchange rate fell by an additional 0.5%, reaching a new ten-week low and moving closer to 1.29000. The UK and US will release Purchasing Managers' Index (PMI) data on Thursday, with updates provided on a rolling basis. Investors will also be monitoring speeches from central bankers at both the Bank of England (BoE) and the Federal Reserve (Fed). The Pound declined further on Wednesday, with markets showing weakness due to a broad US Dollar recovery and investors awaiting an overall decline in the UK PMI for October. The median market forecast is for a slight downturn in UK activity figures, with the services PMI for October expected to fall to 52.2 from 52.4 in the previous month. In the US, the median market forecast is for a mixed outcome in October's PMI reading. The manufacturing PMI component is expected to rise to 47.5 from 47.3, while the services PMI component is expected to fall slightly to 55.0 from 55.2. Trading recommendation: Trading predominantly Sell orders from the current price level.
Short
by Fresh-Forexcast2004
GBPUSD H4 | Bullish RiseBased on the H4 chart analysis, we can see that the price has just bounced off our buy entry at 1.2907, which is overlap support close to 161.8% Fibonacci extension Our take profit will be at 1.2955, which is a pullback resistance level. The stop loss will be placed at 1.2871, which is a pullback support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
GBPUSD InsightHello to all subscribers! Please share your personal opinions in the comments. Don't forget to like and subscribe! Key Points - The Bank of Canada lowered its benchmark interest rate by 50 basis points from 4.25% to 3.75%. - In a U.S. 20-year Treasury auction of $13 billion, the yield was set at 4.590%, 5.51 basis points higher than the previous auction, marking the highest level since May. - The October Beige Book assessed that U.S. economic activity remained unchanged in almost all regions since early September. - Reports suggest that ECB policymakers have begun discussions on lowering the policy rate below the neutral level. - The U.K.'s September CPI rose by 1.7%, with a 91% chance of a rate cut in November. Economic Indicators - October 24: Speech by the BoE Deputy Governor, U.S. Manufacturing PMI, U.S. Services PMI, U.S. Initial Jobless Claims - October 25: Speech by BoE Governor Bailey Chart Analysis Currently, GBPUSD is in an upward trend but is facing resistance at the 1.34000 level and is showing signs of pulling back. Since the price is forming near the support level, there is potential for a rebound. However, if it breaks below the 1.29000 level, further declines to the 1.26000 level are expected. A rise toward the highs may occur within this range. We will quickly adjust our strategy if movements differ from expectations.
Long
by shawntime_academy
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
Analysis GBP/USD As I mentioned in yesterday's analysis, the price continued with its bearish momentum and collected the first liquidity (LQY) below. Today, I took advantage of the drop and opened a sell position, which I just closed since the New York Stock Exchange is nearing its end. Tomorrow, we have impactful news for both EUR and GBP, so I will take a break from trading tomorrow and wait to see how everything unfolds during and after the news. Yesterday, I noted that the day closed as a Doji, but that today would still be bearish, which indeed happened. On the hourly (H) charts, there’s a clearer picture of the liquidity areas above, so the news could push the price bullish in order to collect the sell orders above.
by andricstrahinja95
Directional bias for trade filtering on lower TF , or 70 win %Hi there! I’m excited to share a system I’ve developed called 'Zones.' These zones offer a directional bias, helping predict where price is likely to move next with a current follow-through rate of 70%. In other words, if the price exits one of the orange zones, there’s a 70% chance it will reach the next orange zone, at least touching the boundary, rather than reversing back and closing within the previous zone. You can trade these zones directly for a 70% win rate, or use them as a directional bias to complement your existing strategy on a 1-minute or 5-minute chart (which I highly recommend). Important note: When the price briefly exits a zone but doesn’t close outside it, this is not considered a valid exit — we call this a "spike" or wick. For the 70% win rate to apply, the price must close outside the zone. These zones are the result of years of research, experimental machine learning development, and collaboration with colleagues who have decades of experience in physics. And the best part? I’m offering them completely free. The real challenge isn’t just following a system with a 70% win rate — it’s whether you can overcome your own psychology and avoid sabotaging your success. If you had a winning strategy, what’s really stopping you from being consistently profitable? Often, the answer is ourselves. My zones are built on theoretical thermodynamics and mathematical proofs that help predict the likely trajectory of a system, similar to particle movement in physics. Keep in mind, the orange zone line represents an unpredictable area — while the price often touches the line, there are instances where it may not reach it. Due to the inherent limitations of modern physics, this zone remains an unsolvable area, adding a layer of uncertainty to the system. I promise, none of the paid indicators, whether it’s LuxAlgo or anything from a Pine Wizard or trading “guru,” can match the accuracy of these zones. But don’t take my word for it — try them for yourself and see the results!
by user2839409
GBPUSD I Swing long opportunity with upcoming fundamentalsWelcome back! Let me know your thoughts in the comments! ** GBPUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
Long
by BKTradingAcademy