GBPUSD LONGGBPUSD is making lower lows and lower Highs, it Is in down trend but now it formed RSI divergence. it will likely to change its down trend into up trend so place the buy stop order above LHLongby Trade_With_ShahbazPublished 3
Slightly Bullish Bias Expected on GBPUSD today 09/10/2024.GBPUSD Analysis for 09/10/2024: Slightly Bullish Bias Expected In today's analysis of GBPUSD, the currency pair is showing signs of a potential slightly bullish bias based on the latest fundamental factors and current market conditions. As of 09/10/2024, several key drivers are influencing the market, pointing toward a moderate upside for the British Pound (GBP) against the US Dollar (USD). Here's a breakdown of the fundamental and technical factors that could contribute to this outlook. Fundamental Factors Supporting Bullish Bias 1. Improved UK Economic Data Recent data from the UK, particularly in sectors such as manufacturing and services, have shown resilience despite broader global economic challenges. The UK Services PMI reported a higher-than-expected reading, signaling growth in the sector, which is a positive indicator for GBP. Additionally, consumer confidence in the UK has remained relatively stable, offering further support to the Pound. 2. Bank of England (BoE) Policy Outlook The Bank of England's latest statements suggest that while inflation remains a concern, the central bank may adopt a more cautious approach to tightening. This is in contrast to the more aggressive stance of the Federal Reserve, which is already priced into the market. A less hawkish BoE stance could provide upward pressure on GBPUSD, especially if traders believe the BoE may slow down rate hikes earlier than anticipated. 3. US Dollar Weakness On the other side of the pair, the US Dollar has shown signs of weakness amid lower-than-expected Non-Farm Payroll (NFP) data released last Friday. This has led to speculation that the Federal Reserve might pause its interest rate hikes, dampening demand for the USD. The weakening US Dollar adds to the bullish bias for GBPUSD. Technical Outlook for GBPUSD on 09/10/2024 - Support and Resistance Levels GBPUSD is currently trading near key support at 1.2150, with the next major resistance level around 1.2250. If the pair breaks above this resistance, it could signal further upside potential, reinforcing the slightly bullish outlook for the day. - Moving Averages On the technical side, the 50-day Moving Average (MA) is gradually turning upwards, indicating positive momentum for the pair. The Relative Strength Index (RSI) is also hovering near the neutral 50 level, suggesting that there is room for further gains before the pair becomes overbought. Geopolitical Factors and Market Sentiment - Global Risk Sentiment Market sentiment has leaned slightly towards risk-on, with investors showing a renewed appetite for riskier assets such as equities. This shift has seen traders pull back from the safe-haven USD, benefiting risk-sensitive currencies like GBP. As long as global geopolitical tensions remain stable and there are no major risk-off events, the Pound could continue to benefit. Conclusion In conclusion, based on the current economic landscape, GBPUSD is showing signs of a slight bullish bias on 09/10/2024. Key drivers such as positive UK economic data, a potentially cautious BoE, and a weakening US Dollar are aligning to support an upside move in the pair. However, traders should remain cautious and watch for any unexpected shifts in global market sentiment or central bank policies that could impact this outlook. For those looking to trade GBPUSD today, it may be worth considering potential entry points around the 1.2150 support level, targeting the 1.2250 resistance, with appropriate risk management strategies in place. --- Keywords for SEO: GBPUSD analysis, GBPUSD forecast, slightly bullish bias, UK economic data, Bank of England policy, US Dollar weakness, GBPUSD technical analysis, support and resistance levels, forex trading, GBPUSD 09/10/2024, forex forecast, British Pound to US Dollar, forex market outlook, GBPUSD trend, forex trading strategies.Longby PERFECT_MFGPublished 0
LONG GUGBPUSD showing some sign of up north mouve to grap some liquidity in anticipation for tomorrow CPI news. Nearest liquidity as an exit . Trade safe.Longby mrwealthyPublished 3
GBPUSD Is Bearish! Short! Here is our detailed technical review for GBPUSD. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 1.307. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.286 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!Shortby SignalProviderPublished 116
CONTINUE TO SELL GBPUSDCONTINUE TO SELL GBPUSD GBPUSD TPs touched, the downwards trend line continue. Therefore, continue to sell GBPUSD when the price pull back around 1.3082 SL: Above 1.3113 TP1: 1.30 TP2: 1.2865Shortby tntsunrisePublished 1117
GBPUSD: Going long for the long haul.After sweeping liquidity on the early buyers. The Pound now looks to push further up to clear the liquidity of those selling into the market. Let's see what'll happen.Longby luyimbazi-ixPublished 1
GBPUSD to 1.3000The GBP/USD pair formed a rising wedge pattern, and the pair reached the upper limit of the pattern and closed yesterday with a bearish engulfing candle, so I expect that the pair will down to 1.3260 level, and in case this level is broken and closed below it, I expect it will reach 1.3150, 1.3045 and 1.3000 levels.Shortby AhmedragabUpdated 2210
GBP/USD BULLS WILL DOMINATE THE MARKET|LONG Hello, Friends! We are going long on the GBP/USD with the target of 1.310 level, because the pair is oversold and will soon hit the support line below. We deduced the oversold condition from the price being near to the lower BB band. However, we should use low risk here because the 1W TF is red and gives us a counter-signal. ✅LIKE AND COMMENT MY IDEAS✅Longby EliteTradingSignalsPublished 112
GBP/USD: Caught Between a Rock and a Breakout!Alright y'all, let's dive into a top-down analysis of GBP/USD. Starting on the monthly chart, we see price approaching a key weekly resistance level at 1.32226. The pair has been respecting this level since mid-2023, and it’s been a significant zone for reversal or continuation. With price just under this resistance, we need to be cautious of possible rejection, especially considering the slight pullback we see on the weekly chart. Looking at the weekly, the candles are showing bearish momentum over the past couple of weeks, approaching key support at 1.29982. However, if we see price hold above 1.30884, we could look for potential buys with a target towards 1.32226. But, if it breaks below 1.30825, we’re definitely looking at more downside potential, possibly down to 1.29982. If I'm hopping into a trade, I’ll be watching for confirmation either on the 4H or daily timeframes around these key levels before pulling the trigger. My bias right now is neutral—waiting to see where the market momentum shifts next! by SheenaLPublished 0
Potential bullish reversal?The Cable (GBP/USD) is falling towards the pivot which acts as an overlap support and could reverse to the 23.6% Fibonacci resistance. Pivot: 1.3032 1st Support: 1.2947 1st resistance: 1.3152 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.Longby ICmarketsPublished 8
Short OpportunityThe U.S. dollar is strengthening due to geopolitical tensions in the Middle East. The GBP/USD has crossed the 0.382 level of the Fibonacci retracement, and it is anticipated to continue its downward trend. The next support level is expected to be around the 0.786 Fibonacci level.Shortby billionaire_guruUpdated 228
GU waiting for a break outif we can get a breakout to either direction we can get some indication on where price wants to go next. I'm expecting bullishness but sitting on hands and waiting for London session before calling it. Long01:44by DWoodzPublished 0
My GBPUSD Prediction My Prediction is that Price is Gathering more Liquidity by creating A head and shoulders pattern to fill in imbalance. by HellaStarzPublished 2223
GBPUSD: Setting Up For A Nice Buy Are Bulls gearing up for the next rally? Waiting to BUY... Looking for one more push down to retest the bullish OB or previous low at MQP 1.3000. Buy limit @ 1.30412 SL 1.29811 TP1 1.30612 TP2 1.30912 TP3 1.31412 TP4 1.32412 Remember we want to be less predictive and more reactive. So let's wait for our bullish entry confirmations.Long04:19by Dynamic-DaniPublished 0
GBPUSD - market structure this is an analysis using the market structure, I simply use the concept of movement in Z (waves) of the price. A simple analysis will always be more efficient and much easier to understand and respect. Follow the established strategy and trading plan to have realistic resultsShortby KronFXPublished 1
Continuation of trend no significant sign of momentum possible trend reversal. approaching a level of structure to test trend. entry point for large movement.Longby Ireneo_ortizPublished 222
GBPUSD In Bullish Trend GBPUSD is going to start its bullish trend, Entry, stop loss, and take profit levels are mentioned on the chart.Longby shayanshah1Published 3
sell gbpusdgbpusd sell. lets see how this setup goes. good risk to reward ratio on this.Shortby mbm19Published 1
GBPUSD: D - Head and ShouldersGBPUSD: D - Head and Shoulders The price is a bit choppy at the moment with the uncertainties occurring across the globe so I'm anticipating the price falling into a Head & Shoulders pattern formation. by Elektro-AnalysisPublished 1
Don't miss the great SEE Opportunity in GBPUSDCurrent Market Sentiment: GBP/USD appears to have experienced a recent downtrend but is currently showing signs of stabilization, possibly setting up for a reversal or at least a retracement. Support and Resistance: Support: The blue line near 1.30400 represents a potential support level. This is further emphasized by the grey-shaded area below, indicating the possible zone where buyers may step in if the price dips slightly. Resistance: The green shaded zone around 1.32400 suggests a potential resistance area, which serves as the target for the setup. Trade Setup: The chart suggests a buy setup, with the price expected to bounce off the support zone (grey area) around 1.30400. The target is 1.32400 within the green box, marking a solid resistance zone. Risk-to-Reward: The trade plan appears to be a long position with a stop-loss likely placed below the grey support zone, providing a favourable risk-to-reward ratio if the price reaches the target in the green zone. This setup shows a buy opportunity from the support area, with a target around 1.32400, expecting GBP/USD to recover after its recent decline. Longby forexcitysignalPublished 3317
GBPUSD Holding Above Daily Pivot PointGBPUSD Holding Above Daily Pivot Point The GBPUSD pair is currently holding above the daily pivot point, indicating that bullish momentum is dominating today’s market. It is expected that GBPUSD may test the first daily resistance level at 1.3125. If the upward movement continues, it could extend to the second daily resistance level at 1.3166. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️ Longby KlejdiCuniPublished 3317
GBPUSD Buy Position . Looking for longs from this daily key level Risking 2% and with a decent Risk To RewardLongby R3v_Published 2