28 Oct -1 Nov GBPUSD IdeaMore confluence for Long on GBP compere with EURUSD. Anyway need additional confirmation base on character of London OpeningLong04:46by azim_dev0
Fundamental Market Analysis for October 28, 2024 GBPUSDThe GBP/USD pair started the new week on a weaker note and is trading around 1.29600-1.29550. Spot prices, however, remain within striking distance of the lowest level since August 16, near 1.29000 reached last week, and appear vulnerable to an extension of the month-long downtrend amid a bullish US Dollar (USD). On Friday, the U.S. Census Bureau reported that U.S. Durable Goods Orders fell 0.8% in September, which was slightly better than expectations of a 1% decline. Additional details of the report showed that new orders excluding transportation costs rose 0.4% in the reporting month. In addition, the University of Michigan's consumer sentiment index hit a six-month high of 70.5 in October, which was better than both the preliminary result and the previous month's reading. This data supports the view that the Fed will continue to moderate rate cuts throughout the year, which in turn triggers a new rise in US Treasury yields and continues to support the dollar. The British Pound (GBP), on the other hand, is weakened by rising bets on further interest rate cuts by the Bank of England (BoE) in November and December, backed by a drop in the UK Consumer Price Index to its lowest level since April 2021 and below the central bank's 2% target. The aforementioned fundamental backdrop suggests that the path of least resistance for the GBP/USD pair lies to the downside. Even from a technical perspective, recent repeated failures near the psychological 1.30000 mark support the prospects of a continued decline from the 1.34350 area, or the highest level since February 2022, reached last month. Trading recommendation: Trade predominantly with Sell orders from the current price level.Shortby Fresh-Forexcast20041
Read the GBPUSD MarketLet's Look at GBPUSD Chart and make some Decisions for this Week, Good Luck With Your Trades <306:59by FXSGNLS1
GU Can go either way! We need more data before we have a direction this week. The dollar is definitely bullish for the most part so being patient and waiting for a good sale entry might be the best bet. 01:58by DWoodz1
Bearish drop?GBP/USD has reacted off the resistance level which is a pullback resistance that aligns with the 50% Fibonacci retracement and could drop from this level to our take profit. Entry: 1.3000 Why we like it: There is a pullback resistance level that lines up with the 50% Fibonacci retracement. Stop loss: 1.3071 Why we like it: There is a pullback resistance level. Take profit: 1.2872 Why we like it: There is a pullback support level that aligns with the 127.2% Fibonacci extension. 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.Shortby VantageMarkets11
GBPUSD Week 44 Swing ZonesSmooth week 43 price action for 60pp Week 44 SZ are set. In between however, recalculated levels can be produced based on price action.by PinchPips1
GBPUSD💡The GBP/USD pair is moving within a descending price channel on the 4-hour frame, indicating a general bearish bias. Specific levels (R.1 for resistance and S.1 and S.2 for support) can offer trading opportunities. Buying may be appropriate when approaching support areas, while selling may be appropriate when approaching resistance areas. Monitoring the pivot point (P.P) area is important, as it may determine if there is a reversal in the trend. ⛔️Not investment advice, for educational purposes onlyby Adhamcurrency3
GBPUSD💡The GBP/USD pair is moving within a descending price channel on the 4-hour frame, indicating a general bearish bias. Specific levels (R.1 for resistance and S.1 and S.2 for support) can offer trading opportunities. Buying may be appropriate when approaching support areas, while selling may be appropriate when approaching resistance areas. Monitoring the pivot point (P.P) area is important, as it may determine if there is a reversal in the trend. ⛔️Not investment advice, for educational purposes onlyby Adhamcurrency2
GBPUSD 4H Outlook | BearishGBPUSD is continuously making LH, LL. Earlier, the daily and 4H timeframe made divergence, followed by a flat top divergence after which this bearish trend started. It has formed a bearish channel that is still valid. A key support area is found around 1.26105. Trade plan: Place a sell stop order when LL breaks Stop Loss: 1.29984 Sell Stop : 1.29035 TP1: 1.2809 TP2: 1.2714 Start with a minimal position and add after channel confirmation.Shortby hunainbinsajid441
GBPUSD Wave 5?GU on the weekly looks set to be climbing to higher highs from here. However the corrective wave on lower timeframe is not very convincing. It might a complex ABC wave. I will take the trade with a tight stop loss. Confluence: H4 divergence Point of control Lines up with Elliot wave rule Points to take note: Corrective wave is not clear Longby Chathifriends2212
GU ARE WE GONG LONG DICK OR WHAT HEY GUYS we looking bullish on GU but beware this spooky season cause we have ballots opening this week and many red folders coming out alright my organic grown traders yee hee Longby STSGREENIE441
British Pound's Next Rounds(Analysis of the British Pound) The British Pound has been experiencing a decline. Our chart analysis reveals a consistent trend respecting established support and resistance zones. Currently, the trend is bearish, with a recent reversal from the resistance zone. To manage risk, we've set our stop-loss above the resistance level. Trade Strategy: We've divided our take-profit into two parts: 1. The first target is at the support level. 2. The second target is below the support level. Trade Management: If the first take-profit is achieved, we'll monitor the trend for a potential breakdown. If it occurs, we'll proceed to the second take-profit. However, if the trend reverses from the support level, we'll close our positions with only the first take-profit.Shortby LeonardoTrader9t99
1.285 target Technical Analysis: GBP/USD has shown resistance near the 1.30 level in recent trading sessions, which has consistently acted as a barrier against upward movements. With current downward momentum, the next significant support level is at 1.285, a zone that has previously held when GBP has faced similar selling pressure. This makes 1.285 a viable target for downward movement if resistance at 1.30 remains unbroken Market Sentiment and Fundamentals: The U.S. dollar is currently strong due to robust U.S. economic indicators, particularly employment and inflation resilience, which support the USD’s position relative to GBP. Additionally, as the Bank of England maintains a cautious stance on further rate hikes, the GBP lacks sufficient bullish drivers, making a pullback toward 1.285 likely if USD momentum persists Expected Economic Data Impact: Upcoming U.S. data could reinforce dollar strength if it aligns with recent trends. This expectation for continued dollar demand supports a bearish view on GBP/USD and aligns with 1.285 as a feasible target within the week.Shortby cervicekkarel0
GBPUSD IDEAThe resistance retest ended with a bearish bar. The price is likely to head towards 1.29131 Further rebound is possible before further decline. Shortby FOREXRSMV0
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 :-)Longby ShahedZare1
GBPUSD Breakout And Potential RetraceHey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.29750 zone, GBPUSD was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 1.29750 support and resistance area. Trade safe, Joe.Shortby JoeChampion118
My Bullish GBP/USD Strategy Using X1X2!You have no idea how many opportunities are there when you're simply following "X1X2"! I invite you to engage with me in this analysis! Current Fundamentals Supporting a Bullish Bias on GBP/USD: 1. Positive UK Economic Data: Recent reports indicate that the UK's GDP expanded by 0.2% in August, aligning with analyst expectations. Additionally, industrial production and manufacturing have shown growth, which supports the Pound's strength against the Dollar. 2. Diminishing US Dollar Strength: The US Dollar has faced selling pressure, particularly in light of recent mixed macroeconomic data. A softening inflation rate and rising initial jobless claims have raised concerns about the US economy, contributing to a bullish outlook for GBP/USD. 3. Market Sentiment Shift: An improving risk mood among investors has led to optimism regarding potential Federal Reserve rate cuts. This sentiment has weakened the Dollar, allowing GBP/USD to gain traction above key support levels. Utilizing Probabilities in My Swing Trading Strategy: In my trading approach, I employ a system known as X1X2, which focuses on probabilities to determine optimal entry points for long positions in GBP/USD. In conclusion, my bullish bias on GBP/USD is supported by favorable economic indicators from the UK and weakening US economic data. By leveraging probabilities through my X1X2 system, I aim to position myself effectively for potential long trades in this pair. 1W: 3H: Longby Jasminex1x2Updated 2
GBPUSD- SHORT Bearish Indicator : 1- Series of LH and LL 2- Formation of Bearish Engulfing Candle Entry Price - 1.29529 SL - 1.3009 TP1 - 1.29037 TP2 - 1.28541Shortby hmuhammadumer950
GBPUSD Buy hindsight ICMARKETS:GBPUSD look for a buy-side trade entry when the LP is exhausted. How about you folks? Please comment below.Longby forexyoga775
GBPUSD H1The British pound managed to regain positivity before the weekly close, so we are looking to buy from the 1.29473 levels. Our targets are at the levels: 1.30711. The second level: 1.31025. The third target: 1.31670. The stop is at the levels: 1.28950 CAPITALCOM:GBPUSD Longby OMEREYLUL34229
GBPUSDBP/USD is exhibiting downward pressure, presenting a potential short trade setup as the pair responds to a strengthening U.S. dollar and ongoing economic uncertainty in the UK. Key technical indicators, such as the Relative Strength Index (RSI) showing bearish divergence and the pair trading below its 50-day moving average, suggest a continuation of the downward trendShortby mwananukachabota1
GBPUSD: FUTURE PIVOT POINTSTry to catch these pivot points TTT is here to predict TIME for youby THE_ANONYMOUS_WINGMAN1
GbpusdGbpusd near good support . Forcast that will start to grow to levels 1.30205 1.32000 1.34000Longby Egyqat20222