BUY SHORT TERM/SELL LONG TERMPrice created LL and LH as it broke previous low.
Expect current pullback to hit previous area of LH to sweep liquidity before making new low. Target most recent low as marked by the arrow.
GBPUSD trade ideas
GBPUSD Will Go Up From Support! Buy!
Please, check our technical outlook for GBPUSD.
Time Frame: 1h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is testing a major horizontal structure 1.249.
Taking into consideration the structure & trend analysis, I believe that the market will reach 1.256 level soon.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
GBPUSD – Can The Rollercoaster Price Action Continue? GBPUSD – Can The Rollercoaster Price Action Continue?
What a difference a day can make to market expectations and positioning. GBPUSD was riding high around 1.2720 late Wednesday afternoon on the back of stronger UK wage growth and inflation (CPI) readings from earlier in the week, creating some uncertainty about what its next directional move maybe.
Then, enter the Federal Reserve (Fed), who cut interest rates 25bps (0.25%) last night, as expected, but provided a more cautious assessment for their approach in 2025. Chairman Powell emphasised that the US central bank doesn’t need to be as quick to act with rate cuts moving forward until they see more progress on inflation falling to their 2% target.
This saw a rush to buy dollars again, which in turn sent GBPUSD sharply lower below 1.26.
So, what’s next for the pound, as traders need to contend with the Bank of England (BoE) rate decision at 1200 GMT today.
No change to interest rates is expected due to the stubborn inflation readings received this week, but the direction of the voting on the committee and accompanying statement may give an insight into their thinking regarding rate cuts in 2025. All of which could add to the rollercoaster price action of GBPUSD into the weekend.
So, with the potential for GBPUSD volatility moving forward, what are the possible chart levels to consider?
Possible Support Levels to Watch
Coming into this BoE meeting, GBPUSD has already seen price weakness emerge following the more hawkish Fed. This has seen breaks below support at 1.2611, which is equal to the 61.8% Fibonacci retracement of November/December strength.
While this move lower doesn’t guarantee further price weakness, the next support to consider may be marked by the November 22nd low at 1.2490, and if this support was to be broken following the Bank of England rate decision, it may be possible that GBPUSD could test support at the May low of 1.2449.
How About Resistance?
To the upside we can potentially use the Fibonacci retracement of the December price weakness to gauge possible resistance levels,. The 38.2% retracement stands at 1.2657 and traders may well be watching how well this resistance level, if tested, is defended by fresh selling interest.
If this upside level was to break, it may increase the possibility of a more prolonged recovery, at which point, risks may turn towards tests of the higher 62% Fibonacci retracement level, which stands at 1.2715.
The material provided here has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research, we will not seek to take any advantage before providing it to our clients.
Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted.
Short GBPUSD on Fibonacci RetracementThe Cable (GBPUSD) charts shows a down trend on the daily and weekly charts. This is consistent with a long term view of the US economy doing better than the UK according to recent data releases. An initial impulse has broken a 4H up trend to the downside and has retraced to 0.618 during the 17 Dec 24 Asian session.
I have gone short at 1.2700 and SL 1.2770. I have two targets: first TP at 1.2630 and second at 1.2570 giving risk to reward ratios of 1:1 and 1:2 respectively.
Caution is advised as the FOMC are announcing their Dec interest rate decision this Weds and UK BoE on Thursday. I shall review positions in about 24 hours therefore.
Pound steady after hot UK wage growth, CPI nextThe Canadian dollar continues to lose ground. In the North American session, USD/CAD is trading at 1.4315, up 0.48% at the time of writing. The Canadian dollar has declined 2.2% in December and is trading at its lowest level since mid-March.
Canada's inflation eased to 1.9% in November, down from 2% in October and shy of the market expectations of 2%. However, the trimmed-mean core rate remained unchanged at 2.7%, higher than the market estimate of 2.5%. This is above the Bank of Canada's target of 2% and will complicate plans to continue to lower interest rates.
The BoC has been the leader among major central banks in lowering rates, with five rate cuts since June for a total of 175 basis points. The central bank chopped the benchmark rate by 50 basis points to 3.25% last week but indicated in the rate statement that it expected a "more gradual approach to monetary policy", which means we can expect 25-bp increments in rate cuts if there are no surprises in inflation or employment data.
US retail sales sparkled, another sign that the US economy remains robust. Retail sales jumped 3.8% y/y in November, following an upwardly revised 2.9% in October. This was the highest annual gain since last December. Monthly, retail sales rose 0.7%, above the upwardly revised 0.5% gain in October and the market estimate of 0.5%.
US consumers have opened their wallets for the holiday season and motor vehicles and online sales helped drive the gain. The strong retail sales report didn't change expectations for a rate cut on Wednesday, which stand at 99%, according to the CME's FedWatch.
US PMIs on Monday pointed to a mixed bag. The Services PMI rose in December to 58.5 from 56.1 in November and above the forecast of 55.7. This was the highest level in over three years as the services economy is showing impressive expansion. The manufacturing sector is in dreadful shape and weakened to 48.3, down from 49.7 in November and below the market estimate of 49.8. Output and new orders are down as the demand for exports remains weak.
USD/CAD is testing resistance at 1.4289. Above, there is resistance at 1.4343
1.4191 and 1.4137 are the next support levels
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.
GBPUSD H1 OUTLOOK(23/11/2024)The chart presents two critical POIs, anticipating bearish movement upon retracement, targeting the lower BOS.
GBPUSD Dip Buy (next zones)Rallies on GBP come via lesser cut bets concerning actions of the BOE.
Dollar strength also fading into today post profit taking on FED moves.
Gu shortsI there are two zones am looking to short
1. If price enters the red rectangle I will wait for confirmation entry or
2. I will short just above the high
GBPUSD set for a short squeeze!Intraday Update: The UK strong employment data is allowing for a move higher in the GBPUSD today, and the 1.2712 is the 50% retracement, also previous support at 1.2713 on Dec 11th. A break of this level could accelerate a short squeeze higher.
Daily Analysis of GBP to USD – Issue 170The analyst believes that the price of { GBPUSD } will decrease in the next 24 hours. This prediction is based on quantitative analysis of the price trend.
Please note that the specified take-profit level does not imply a prediction that the price will reach that point. In this framework of analysis and trading, unlike the stop-loss, which is mandatory, setting a take-profit level is optional. Whether the price reaches the take-profit level or not is of no significance, as the results are calculated based on the start and end times. The take-profit level merely indicates the potential maximum price fluctuation within that time frame.
GBPUSD - bottom out here again? what's next??#GBPUSD - in first go as per our last idea regarding pound market perfectly holds and bounced now again market placed a reasonable low around 1.2605 and trade above that.
keep close that low because if market hold it then we can expect again further bounce from here.
good luck
trade wisely
GBPUSD - SHORT POSITION FOR THE WEEKMORE sells, EASY AND STEADY
WE should HAVE MORE ENTRIES ON THE lower TF
Could the Cable reverse from here?The price is reacting off the support level which is an overlap support that aligns with the61.8% Fibonacci retracement and could rise from this level to our take profit.
Entry: 1.2617
Why we like it:
There is an overlap support level that aligns with the 61.8% Fibonacci retracement.
Stop loss: 1.2523
Why we like it:
There is a pullback support level.
Take profit: 1.2731
Why we like it:
There is an overlap resistance level.
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.
GBPUSD - ANALYSISHello friends, I want to share my view on GBPUSD with you
What I see on the pound chart is a duality of movement
I suggest you don't go for a long position until the pound shows you its main trend
My first view is that the pound will move up from where it is no w and my second view is that it will continue to fall down
Trade safe
Short GBP on retracement to 1.2710As per previous post analysis - wait for retracement before UK unemployment numbers which will disappoint again.
Important: the climb up to 1.27 zone will by no means be a bullish signal - only retracement from current drop and then further declines to continue.
Entry 1.2710
SL 1.2810
TP 1.23
Good luck all!
GBPUSD H4 | Potential bounce off 61.8%?Based on the H4 chart analysis, we can see that the price is falling to our buy entry at 1.2614, which is an overlap support that aligns with the 61.8% Fibo retracement.
Our take profit will be at 1.2715, a pullback resistance.
The stop loss will be placed at 1.2509, which is a swing low support level.
High Risk Investment Warning
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd.
The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
GBP/USDHello
We are Waiting for Fed ..According to the Economy's information the GDP was weak at the end of the year and the USD is Strong ..Retail sales was good and the Growth of Economy is Strong ..the CPI is under Control as Well as all of Indicators Have made the Bearish Pattern against USD like as GBP ..GDP is under the Pressure against Dollar so I Expected the USD cut Rates will Stop in the Last year ..
GBPUSD Shorting long termShort-term plays don't always go as planned, but the bigger picture tells a different story. Price is rejecting strongly off key levels, signaling a potential shift in momentum. The bulls are stepping in, and this setup has the potential to unfold over the coming weeks. Let's see how it plays out—patience is key!
GBPUSD Live Week 51 Swing ZonesWeek 51 SZs are set, including predicted price paths a or b.
As Always price action determines trades
GBPUSD Bearish At Key LevelHello there,
GU needs to break below the significant low area of 1.28 for the bearish momentum to continue, with the first target set at 1.26723 and a bias towards 1.25772.
Happy trading!
K.
Not trading advice.
Pound higher as Services PMI rises, job report nextThe British pound has moved higher on Monday, after declining 1% last week. In the European session, GBP/USD is trading at 1.2747, up 0.30% on the day.
The UK Services PMI rose to 51.4 in December, up from 50.8 in November, which was a 13-month low. This beat the market estimate of 51.0, but points to weak business activity as demand for UK exports has been weak and confidence among services providers remains subdued.
UK manufacturing is mired in a depression, and the PMI fell to 47.3 in December, down from 48.0 in November and shy of the market estimate of 48.2. This marked the lowest level in eleven months, as production and new orders showed an accelerated decrease.
The weak PMI data followed Friday's GDP report, which showed a 0.1% decline for a second straight month in October. This missed the market estimate of 0.1%. GDP rose just 0.1% in the three months to October.
The UK releases employment and wage growth numbers on Tuesday. The economy is projected to have lost 12 thousand jobs in the three months to October, after a sparking 200 thousand gain in the previous report. Wages including bonuses is expected to climb to 5% from 4.8%.
The Bank of England meets on Thursday and is expected to hold the cash rate at 4.75% after cutting rates by 25 basis points in November. The economy could use another rate cut but inflation remains a risk to upside, with CPI climbing in October to 2.3% from 1.7%. The BoE will be keeping a close eye on wage growth, which has been a driver of inflation.
The US releases PMIs later today. Manufacturing remained in contraction territory in November at an upwardly revised 49.7 and there is optimism that the new Trump administration's protectionist stance could benefit US manufacturers.
The services sector is in good shape and improved in November to 56.1, up from 55.0 in October. The uncertainty ahead of the US election is over and lower interest rates have contributed to stronger expansion in services.
GBP/USD is testing resistance at 1.2638. The next resistance line is 1.2668
1.2592 and 1.2562 are the next support levels
