GU has an extra 50 pips to give GU has been bearist for this month and its time to milk down the last 50 pips let sell GU in London session wait for retest and sellShortby dankwaclark1
GBPUSD: The sellers still have the upper hand.Currently, GBPUSD is moving around 1.305 at the beginning of the weekend trading session with the weakness continuing since the beginning of the week. Although there is a recovery, it is only short-term and is a trend correction. With a strong reversal from the EMA 34, 89, this currency pair is still heavily influenced by the technical selling sentiment. In the short term, we expect to continue to prioritize selling with the profit-taking target right at the limit of the downtrend line marked on the chart.Shortby Bentradegold3
Sell GBP/USD Bearish ChannelThe GBP/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Bearish Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.3060, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum. Target Levels: 1st Support – 1.2985 2nd Support – 1.2953 Stop-Loss: To manage risk, place a stop-loss order above 1.3100. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI FOREX TRADING Thank you. Shortby KABHI_FOREX_TRADINGUpdated 141449
Impact On The ScreenWhat type of feel do you get from this, does it seem like this week had low impact moves and was typa slow. Imagen this was on a 1min Chart, what would be our next move, timing and positioning, we would think that because it tapped into the gap on the left and is now showing some potential bearish moves, the equal lows might serve as liquidity and have us ram through them as we sell. Furthermore realizing that ohh we tapped into a FVG and this is actually still on a buy mood, would mess up everything, we still have some learning to do.by TheDemoTrader_SA0
GBPUSD InsightHello, subscribers! Great to see you all. Please feel free to share your personal opinions in the comments. Don’t forget to like and subscribe! Yesterday, the U.S. released the September Consumer Price Index (CPI) and initial jobless claims. The September CPI showed a slowdown to 2.4%, compared to 2.5% in the previous month, but it exceeded the market’s expectation of 2.3%. Core CPI came in at 3.3%, also above the expected 3.2%. Initial jobless claims were 258,000, significantly higher than the market's forecast of 231,000. The market interprets this as inflation being more persistent than expected, while the job market remains uncertain. Within the Federal Reserve, Raphael Bostic, President of the Atlanta Fed, left the possibility of a rate pause open. However, John Williams, President of the New York Fed, and Austan Goolsbee, President of the Chicago Fed, emphasized a dovish tone, showing a division in opinion within the Fed. Meanwhile, in the UK, Bank of England Governor Andrew Bailey stated that if positive inflation data emerges, they may take more aggressive and activist steps toward cutting rates. Upcoming key economic data releases: - October 11: UK August GDP, Germany September CPI, US September PPI. - October 16: UK September CPI. - October 17: Eurozone September CPI, ECB rate decision, US September retail sales. The GBP/USD is facing resistance at the 1.34000 level, experiencing a pullback. The price has extended its decline to the 1.30000 level and appears to be preparing for a rebound from this area. If a rebound occurs, it could push the price back up to the resistance level at 1.38000. However, if the rebound fails, it is expected to fall further to the 1.27000 level. If the market moves differently than expected, I will quickly adjust the strategy.by shawntime_academy1
Rotational price action all week! All week we have been in consolidation. yesterday we had a break to the downside but it failed to continue and starting to revert back to the consolidation zone. Maybe we can end up getting a break out from this zone to the upside to close out the week...Long01:43by DWoodz1
Pound is ultra bullish , upside from here is only optionThe pound is ultra bullish, upside from here is only option I will be looking to position myself with my students and followers as highlighted on the chart if we get the confirmation. Accumulation / Manipulation / Distribution - No liquidity raid = No trade - Never buy high and never sell low “Adapt what is useful, reject what is useless, and add what is specifically your own.” Dave FX Hunter ⚔Longby Dave-HunterUpdated 2210
20241010 - GBPUSD - LongGBPUSD - Long Potential idea on GBPUSD if 4h BOS is present. Entered into Daily point-of-interest. Wait for Break of Structure to the upside on 4h. Look for entries on the pull back. Longby AnthonyHallMe3331
GBP-USD Bullish Update! Long! Hello,Traders! GBP-USD was falling down Sharply but now the pair Has hit a horizontal support Level of 1.3000 which is a Nice round number too So we will be expecting A local bullish rebound Buy! Like, comment and subscribe to help us grow! Check out other forecasts below too!Longby TopTradingSignals117
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-DaniUpdated 1
GBPUSD LONG IN THE ZONEM/M GBP coming tomorrow In the green zone, looking for an escape with a lower low then an explosion at the top Combining fundamentals and technicals, seems safe to say that after a liitle zig-zag tonight, any GBP asset will go through the roofLongby edl756
GU LONDON OPEN MARKUPSIn search for institutional candles, divergence, 80's & 20's, etc.by kjsamy793111
GBPUSD - Divergence for Many Indicators, Bullish Reversal ComingOn the 4H, there are many indicators for divergence, which potentially indicates a bullish reversal soon. Also, the extended M pattern is probably complete with the rejection to the upside from the current support level.Longby JoeBigBoi1116
GBPUSD - FAKE BREAKOUTHi Traders ! The GBPUSD failed to break the resistance level (1.32988 - 1.31804). The price broke the support line ! So, I expect a bearish move📉 ____________ TARGET: 1.30490🎯Shortby Hsan_BenhmedUpdated 111122
GBPUSD POSSIBLE REVERSAL FROM SUPPORTTRADE PLAN:- 1)Price already touched my entry point and my trade is active now i am bullish on GBPUSD i take 0.5% Of my capital. 2)Add more position if price go down or up if price goes up i will add two more position both are 0.25%. I SUGGEST BUY MORE IF PRICE GOES DOWN I AM TAKING OVERALL 1% RISK OF MY CAPITAL. T R A D E __ H U N T E R S Longby IVIBILAL12
GbpusdFalling wedge which spiked and hit a major support level...and w formed so I'm expecting the pair to go long Longby youowemeson7
GbpusdFalling wedge which spiked and hit a major support level...and w formed so I'm expecting the pair to go long Longby youowemeson2
NEW IDEA FOR GBPUSD By examining the trend in the four-hour time frame of GBP/USD, on the condition of maintaining and not registering any close candle time of four hours below the important support interval in the range of 1.3031-1.3003, it can reach the resistance interval in the range of 1. 3172-1.3149, increase in price.Longby arongroups113
GBPUSD UPDATES Previous idea on charts is looking good 270pips downward. now I am expecting a retracement for atleast 50% since the down. target only 170pips upward. since we have CPI, I expect a positive on a dollar, then drop first before it rise up. This is not a financial advice. This is only base on 50% premium/discount strategy retracement! Follow for more high quality contents over this platform. No risk no gains.Longby D1GITALTRADES2
#GBPUSD 4HOn the GBP/USD 1-hour chart, the price has bounced off a key support level, indicating a potential bullish reversal. The support bounce suggests that buyers are stepping in at this level, preventing further decline and possibly initiating an upward move. Forecast: Buy A buy opportunity is expected as the price rebounds from support. Traders may consider entering a long position with the anticipation that the price will move higher, targeting nearby resistance levels. It’s important to monitor price action for confirmation that the support is holding, as a breakdown below the level could invalidate the buy setup.Longby PIPSFIGHTER8
GBP USD QUICK BUYHi guys Buyers into market , it will be quick buy here ! Quick in and Out the Key Best of luck Longby rintintin1981Updated 2211
Mastering Support and Resistance: An Essential Tools for SuccessSupport and resistance are cornerstone principles in trading, offering crucial insights into price dynamics and market behavior. These levels act as key indicators, signaling points where an asset's price is likely to either pause or reverse direction. Support refers to the price level where strong demand prevents further declines, while resistance marks the point where selling pressure halts a price rise. Understanding and effectively utilizing these concepts can make a significant difference in trading success. In the realm of technical analysis, which focuses on using historical market data to predict future price movements, understanding support and resistance is essential. Traders rely on these levels to pinpoint optimal trade entry and exit points while also managing risk effectively. By recognizing where the market may reverse or maintain its trajectory, traders can craft more robust strategies. Decoding Support and Resistance Levels Support and resistance levels are vital price points on a chart that traders use to forecast future market behavior. Support represents a level where a downtrend is likely to pause, driven by a concentration of buying interest. In other words, it's the price point where demand is strong enough to stop further declines. For instance, if a stock repeatedly drops to $100 and then bounces back, $100 becomes a recognized support level. On the flip side, resistance is the price level where an uptrend often halts due to a high volume of sellers. Unlike support, resistance is where selling pressure overpowers buying interest, preventing prices from climbing further. If a stock consistently hits $150 and then retreats, $150 serves as a resistance level. Example Support and Resistance on Silver These levels are significant because they represent psychological thresholds for market participants. When prices approach support, buyers may step in, seeing it as a good entry point. Conversely, when prices near resistance, sellers might take action, expecting the price to struggle moving higher. Understanding how these levels work helps traders refine their timing and make more informed decisions. The Impact of Support and Resistance in Technical Analysis Support and resistance are pivotal in technical analysis, guiding traders in interpreting market movements and predicting future price trends. These levels act as psychological barriers that help determine whether a price trend will persist or reverse. For example, if a stock repeatedly approaches a resistance level but fails to break through, traders may interpret this as strong selling pressure and consider selling or shorting the asset. Conversely, if a price consistently rebounds off a support level, traders might see it as a buying opportunity. Example Resistance and Support on Apple Stock Visual tools like charts and diagrams are indispensable for identifying support and resistance levels. By drawing horizontal lines at points where the price has historically reversed, traders can easily spot critical levels and predict potential market movements. These visual aids enhance decision-making by providing a clear picture of where key price barriers lie. The Crucial Role of Support and Resistance Levels in Trading Strategies Support and resistance levels are the foundation of successful trading strategies, offering traders the tools to optimize entry and exit points, maximize profits, and manage risks effectively. For example, when a price hovers near a support level, a trader might take a long position, anticipating a rise in value. Simultaneously, they could place a Stop Loss just below the support level to limit potential losses if the price unexpectedly drops. Similarly, resistance levels provide invaluable insights for deciding when to exit trades or set profit targets. If a price approaches resistance, it might be wise to close a position to secure gains or prepare for a possible reversal. Understanding and identifying support and resistance levels also play a vital role in risk management. Setting Stop Loss orders near these levels helps traders protect their capital from significant losses if the market turns against them. This disciplined approach not only enhances profitability but also promotes long-term success in trading. Different Forms of Support and Resistance Support and resistance levels come in various forms, each providing unique perspectives on market behavior. The most common types include horizontal levels, trendlines, and moving averages. --Horizontal Support and Resistance: These levels are drawn at points where the price has consistently reversed in the past, making them straightforward and widely recognized. Horizontal Resistance on Tesla Stock --Trendline Support and Resistance: Trendlines connect a series of higher lows in an uptrend or lower highs in a downtrend, acting as dynamic support and resistance. In an uptrend, the trendline can signal buying opportunities, while in a downtrend, it might serve as resistance. Trendline Support on EUR/USD --Moving Averages: Moving averages, such as the 50-day or 200-day average, often act as support or resistance. For instance, during an uptrend, a pullback to the 50-day moving average can indicate a buying opportunity. Moving Averages Used as Support and Resistance on USD/CAD How to Identify Key Support and Resistance Levels To identify strong support and resistance levels, traders use several strategies: --Spot Price Clusters: Look for areas where the price consistently reverses direction, signaling strong support or resistance zones. --Use Technical Indicators: Tools like Fibonacci retracements help identify potential reversal levels during pullbacks by dividing a price move into key percentages (38.2%, 50%, and 61.8%). Fibonacci Tool used as Support and Resistance areas on DXY Common Pitfalls When Using Support and Resistance in Trading While support and resistance are essential, there are common mistakes traders should avoid: --Over-Reliance on Exact Numbers: Support and resistance are better viewed as zones rather than exact values. Prices may fluctuate slightly above or below these levels before reversing. --Ignoring Confirmation Signals: Jumping into trades without confirmation can lead to losses. Always look for signs like candlestick patterns or increased volume to confirm that the level will hold. --Chasing Breakouts Too Hastily: Not all breakouts result in sustained trends. Waiting for confirmation, such as increased volume, helps avoid being caught in a false breakout. --Impatience: Many traders act prematurely at support or resistance levels. Patience is key—stick to your trading plan and wait for the right setup. Advanced Strategies for Support and Resistance Trading For more experienced traders, support and resistance levels can serve as the basis for advanced strategies: --Breakouts: A breakout occurs when the price moves above resistance or below support, often signaling the start of a new trend. Confirming breakouts with increased volume helps reduce the risk of false signals. Breakout Confirmation on BTC --Fakeouts: Prices may temporarily breach support or resistance before reversing direction. Advanced traders capitalize on these by waiting for the price to return within the range and then taking positions in the opposite direction. Fakeouts on BTC --Reversals: Traders use reversal strategies when the price changes direction after hitting support or resistance, often signaling the start of a new trend. Area $72000 resistance used as reversal on BTC Conclusion Mastering support and resistance levels is vital for any trader aiming for long-term success. These concepts are the backbone of technical analysis, guiding traders in making informed decisions about when to enter, exit, and manage risks. By understanding and identifying key support and resistance zones, traders can predict price movements, spot opportunities, and refine their strategies. Incorporating technical analysis into your trading routine will boost your confidence in navigating the market. Whether you’re a beginner or a seasoned trader, honing your skills with support and resistance can lead to more disciplined and profitable trading.Editors' picksEducationby FOREXN11414196