GBPUSD trade ideas
Continue to Long GBPUSDContinue to Long GBPUSD
The downward trendline of GBPUSD
has been broken upward, and the trendline
has been back tested, also formed a new
demand zone.
Therefore, continue to buy GBPUSD when the
price pull back around 1.296
SL: Below 1.293
TP1: 1.304
TP2: 1.3088
GBPUSD Current market conditions show trend continuation signals across multiple timeframes, with key levels identified for potential entries and targets.
gbpusd buygbpusd is now at is support area on both trend line support and the horizontal support line that has previously acted as the resistance line... so the level is very important for bounce... as the dxy has previously made a bullish rally without any major retrace . so the majour retracemnt will help the gbpusd to go upto our target ares.... inshallha this trade will make a handsome profit with expected move as mentioned.... stay tuned
GBPUSD bulls ?Lets watch what markets have today for us.
We can see a lot of buying pressure but cannot break through trendline
That being said i will try to get with bulls till the trendline
GL Traders !
GBPUSDHello everyone!
I was quite surprised by the GBPUSD movement yesterday when there was a double-sided sweep and it is currently at 1.2966.
But! Looking more objectively on the 1-day timeframe we can see that GBPUSD is being squeezed at the upper limit of the ascending channel and the breakout from the previous support is putting pressure on the pair.
In the short term, I still favor selling targeting the lower part of the ascending channel at 1.2700.
Good luck
GU longGiven the recent downward spike observed yesterday, I anticipate a potential upward movement today. I am targeting a 50-pip gain as the market may rebound from its current level. This analysis suggests a favorable entry point for traders looking to capitalize on a reversal.
GBPUSDMomentum is strong on DXY today so trading Majors is the priority, General USD direction is to the downside, Now trading is against GBP as its the strongest currency in comparison to the the other major currencies.
GBPUSD BUY NOW!!!!!!!!!GBPUSD made a bounce from the demand zone and also from the discount level of the FVG am going long from here holding till new highs is created, watching how price have been making strong rejections from that zone indicates a strong bullish reversal move incoming am in right here on buys holding till new lows is created
JOIN AND ENJOY
Lets know your take on this...........
Fundamental Market Analysis for October 31, 2024 GBPUSDThe Pound-Dollar pair continued to decline to the 1.29550 level in the early Asian session on Thursday. The Pound Sterling (GBP) is declining following the UK budget announcement. Later on Thursday, attention will shift to US Personal Consumption Expenditure (PCE) price index data.
The UK's New Labour government released its first budget on Wednesday, which includes a GBP 40 billion tax hike to plug a hole in public finances and allow investment in public services, CNBC reported. One of the measures that is projected to bring the most revenue to the UK's coffers is an increase in the amount employers pay in National Insurance (NI), a payroll tax.
US Gross Domestic Product (GDP) for the third quarter came in below expectations. ADP's October employment change report showed that private companies hired more people than expected. According to the CME FedWatch tool, traders estimate the probability of a 25bp Fed rate cut at the November meeting at nearly 95.2%.
The release of US PCE inflation data on Thursday may provide some hints on the size and pace of a rate cut by the US Federal Reserve (Fed). Core PCE is expected to rise 0.2% m/m in September, while core PCE for the same period is expected to rise 0.3% m/m. The softer-than-expected result may raise hopes for deeper rate cuts and put pressure on the US dollar.
Trading recommendation: Watch the level of 1.29500, if the level is fixed below we consider Sell positions, if the level rebounds we consider Buy positions.
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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Pre-elections Trend Continuation BetFundamentals & Sentiment
GBP:
- COT
- S&P PMI Miss
USD:
- Ec. data (esp. JOLTS)
- Seasonality, pre-elections
Technical & Other
Setup: TC(RTF)
Setup timeframe: 4h
Trigger: 1h
Medium-term: Down
Long-term: Range
Min target: Local low
Stop loss: 0.18%
Position size: 0.5 of the normal Risk Unit
GU4H closing respecting previous 4h demand zone. needs a bottom wick to run further upside. not a financial advice do your own work before taking any trade
GbpUsd- Preparing for reversalAs I mentioned last week, I’m closely monitoring the GBP/USD pair for a potential upside reversal.
This expectation is based on the recent overlapping decline, which is contained within a channel, as well as the proximity to a significant support level.
In recent days, the pair hit a local low of 1.2912 before reversing toward 1.3000 and beginning a consolidation phase.
I believe it’s only a matter of time before GBP/USD clears the 1.3000 mark, potentially accelerating toward a target around 1.3150.
GBPUSD InsightHello, subscribers! It's great to see you all. Please feel free to share your personal opinions in the comments. Don't forget to like and subscribe.
Key Points
- Preliminary German CPI rose by 2.0% year-on-year, exceeding expectations and the previous month's figure.
- U.S. Q3 GDP grew by an annualized 2.8% quarter-on-quarter, falling short of market expectations.
- U.S. ADP private employment increased by 233,000, surpassing both market expectations and the previous month's revised figure, raising anticipation for this week’s Non-Farm Payrolls and unemployment rate data.
- ECB Executive Board Member Isabel Schnabel stated that the fight against inflation continues, and a gradual approach remains appropriate to remove policy constraints.
- The Fed has entered its blackout period, and the CME FedWatch tool reflects a 96.1% chance of a 25 bp rate cut at the November meeting.
Economic Indicators
-October 31: Bank of Japan rate decision, Eurozone October Consumer Price Index, U.S. September Personal Consumption Expenditures Price Index.
- November 1: U.S. October Non-Farm Payrolls, unemployment rate.
Chart Analysis
GBP/USD appears to be rising, supported by the trendline, suggesting potential growth up to the 1.34000 level. However, if Trump wins the election, there may be an adjustment to the Fed’s rate cut pace, which could impact market direction. If the lower trend support breaks, GBP/USD is likely to retreat toward the 1.26000 line.
If market direction shifts downward due to various factors, we will promptly adjust our strategy.
Falling towards pullback support?The Cable (GBP/USD)n is falling towards the pivot and could bounce to the 1st resistance which has been identified as a pullback resistance.
Pivot: 1.2908
1st Support: 1.2866
1st Resistance: 1.3024
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GU is volatile...but we need more data for direction...I cant really call it at the moment. Price is indecisive as we come to the monthly transition. The last day of the month and anything can happen. Watching for a solid direction and sitting on hands for now until London open. Expecting some good price action for both sessions going into Thursday.
GBPUSD scalp entry Wait for retrace and Buy at 1.29404.
This is based on higher time frame and Fibonacci retracement at 0.618 level
We will target 75 pips
GBPUSD is in the Buying Direction after Testing Support Hello Traders
In This Chart GBPUSD HOURLY Forex Forecast By FOREX PLANET
today GBPUSD analysis 👆
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GBPUSD Channel Up emerging. Short term buy.GBPUSD recently broke to the upside the former Channel Down of October and a Channel Up emerged from it.
It already formed a Golden Cross (1h) today, technically a very bullish pattern.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 1.3035 (top of Channel Up)
Tips:
1. The RSI (4h) is on low enough levels again to justify a technical buy.
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Cypher pattern closing in as well as a shark pattern British pound is closing in on some patterns namely a cypher and shark harmonic pattern ending at 12740-12850.
