GBPUSD trade ideas
GBPUSD | 16.12.2024BUY 1.26450 | STOP 1.25900 | TAKE 1.27000 | The GBPUSD pair is trading higher, correcting after a sharp decline in the instrument at the end of the last trading week, as a result of which the “bears” were able to update the local lows of November 27: weak macroeconomic statistics from the UK put pressure on the pound’s position last Friday.
UPDATE ON GBP/USD TRADE FROM SSGBP/USD 1H - As you can see price came to trade down and into the Demand Zone below and has since pushed up breaking structure to the upside and delivering us with the bullishness we predicted.
Price has also given us a second chance to enter in on this market since the break of structure to the upside for those of you who are less pre-emptive and wait for further confirmation, ie the BOS.
This trade is running + 90 pips. (+ 4.4%) 4.4RR
You will notice that after the BOS price then came back down to re-test the are that was initially broken, this is a classic break and re-test trade where price comes to test the area of interest before trading higher.
You will notice that there is an area of Demand that was there ready to be cleared and it was but it also an area of Support that was once acting as an area of Resistance, giving us that classic break and re-test trading opportunity.
GBPUSD short term Long postionRecent fundamental news release has provided bullish momentum for GBPUSD:
Positive UK Economic Data: The latest UK economic report, such as stronger-than-expected GDP, inflation data, or PMI, signals economic resilience and supports the pound.
USD Weakness: Recent U.S. economic data may have disappointed expectations, leading to a weaker dollar as traders anticipate less aggressive Fed policies.
Risk-On Sentiment: Broader market sentiment favors riskier assets, driving inflows into GBP and out of the safe-haven USD.
Technical Setup:
morning star on 5 min
Hammer on 15 min
retracement into 50/61.8% fib levels
Place stop just below the 61.8% level
Risk-to-Reward Ratio:
1:1.5 or better.
News Impact:
Keep monitoring updates as GBP can react further to follow-up data or any statements from Bank of England policymakers.
GBP/USD Short Setup at Supply Zone - Breaker Block StrategyGBP/USD is testing a key supply zone located at the breaker block of the last demand zone. Price has reached this level, presenting an opportunity to enter a short position. The trade targets the previous demand zone, aligned with the Fair Value Gap (FVG) as support. A solid short setup for a potential move downward, with a focus on price action at this critical zone.
Fundamental Market Analysis for December 17, 2024 GBPUSDGBP/USD broke a three-day losing streak that took the pair to 1.2600 last week, recovering just over half a percent on Monday to return to the 1.2700 range.
UK services PMI results for December hit an 11-month low. On Tuesday, UK traders will focus on wage and labor data. Quarterly average wages are expected to rise to 5% year-on-year.
Markets await the Federal Reserve's rate decision on Wednesday. Traders will be closely watching the Fed's updated summary of economic projections (SEP) and interest rate forecasts from policymakers.
U.S. PMI data for December was mixed, with the services PMI hitting multi-year highs and the manufacturing PMI falling below 50.0, indicating contraction. Retail sales data will be released on Tuesday, but may attract limited market attention ahead of the Fed's final rate decision this year.
On Wednesday, traders will keep an eye on fresh UK Consumer Price Index (CPI) data, while the rest of the market will await the Bank of England's (BoE) latest rate decision scheduled for Thursday. The Bank of England is expected to leave the interest rate unchanged.
Trading recommendation: Watching the level of 1.2700, trading mainly with Buy orders
GBPUSD update levels 9.12.This is just a level adjustment, the comment remains the same, I have a few scenarios, let's see which one will be valid.
GBPUSD BUY!!!!GU sentimental is bullish today, and early morning it just grabbed liquidity of the Asian session low. Now, lets take a long position
We first aim for 1:1 the 1:2 after securing some profits
GBPUSD POTENTIAL SELLPreviously on GBPUSD SELL and their is a retracement and a ejection at 50% fib level of the retracement which indicate the continuation to the downside, if you check the dxy it's at a verge of resuming the upside movement
GBPUSD Short OpportunityUSD is in bullish trand and we can take opportunity to short GBPUSD with targets of ABCD pattern. Entry can be taken at breakout of HL.
GBPUSD H1 I Bullish Bounce Off?Based on the H1 chart analysis, we can see that the price is falling to our buy entry at 1.2664, which is a pullback support close to the 38.2% Fibo retracement.
Our take profit will be at 1.2717, a pullback resistance that aligns with the 61.8% Fibo retracement.
The stop loss will be placed at 1.2610, which is an overlap support level.
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GBP/USD Sell - 15 MinsTrading Idea: GBP/USD Sell Position
Trade Overview:
Entry: Near 1.26870
Take Profit (TP): 1.26400 (Key Support Zone)
Stop Loss (SL): 1.27108 (Above Resistance)
Risk-to-Reward Ratio: ~2.5:1
Technical Analysis:
Triple Top Formation:
A clear Triple Top pattern has formed near the resistance zone, signaling exhaustion in bullish momentum and a potential reversal.
Rejections from 1.27100–1.27200 highlight strong seller presence.
Break of Structure (BOS):
Price broke below the recent support level, confirming a shift in market structure from bullish to bearish.
Bearish Momentum:
Price is consolidating under the resistance zone, with lower highs forming, indicating sellers are gaining control.
Moving averages (likely 50 EMA and 20 EMA) appear to act as dynamic resistance.
Target Support:
The TP at 1.26400 aligns with a significant demand zone and prior support, making it a logical downside target.
SELL GBPUSD (SELL 1.269XX , SL 1.279XX , TP 1.259XX)I think GBPUSD will go down soon, because in last few days GBPUSD seems exhausted to go up.
GBP/USD Sell Setup Incoming!!we can clearly see a nice formation of a bearish structure on the monthly timeframe which is consistent with the weekly structure
we also a key monumental shift on the EMA crossover and the price is now below the trendline
So as the DXY (Dollar index) continue to rise we shall see GBPUSD continue lower and currently we have multiple confirmation in higher structure confirming the probability setup
Use proper risk management!!
stop loss anywhere at 1.29000 level seem okey!!
target 1.21500
Make sure you follow me for more updates
GBPUSD Live Week 51 Swing ZonesWeek 51 SZs are set, including predicted price paths a or b.
As Always price action determines trades
Toward 1.27670 ?I think that the price could go up to 1.27670 because it is uptrend in an ichimoku reading in lower timeframes.
