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British Pound / U.S. Dollar

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GBPUSD trade ideas

GBPUSD Is Very Bearish! Sell! Please, check our technical outlook for GBPUSD. Time Frame: 4h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is testing a major horizontal structure 1.291. Taking into consideration the structure & trend analysis, I believe that the market will reach 1.287 level soon. 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!
Short
by SignalProvider
1
Fundamental Market Analysis for October 31, 2024 GBPUSDThe Pound-Dollar pair continued to decline to the 1.29550 level in the early Asian session on Thursday. The Pound Sterling (GBP) is declining following the UK budget announcement. Later on Thursday, attention will shift to US Personal Consumption Expenditure (PCE) price index data. The UK's New Labour government released its first budget on Wednesday, which includes a GBP 40 billion tax hike to plug a hole in public finances and allow investment in public services, CNBC reported. One of the measures that is projected to bring the most revenue to the UK's coffers is an increase in the amount employers pay in National Insurance (NI), a payroll tax. US Gross Domestic Product (GDP) for the third quarter came in below expectations. ADP's October employment change report showed that private companies hired more people than expected. According to the CME FedWatch tool, traders estimate the probability of a 25bp Fed rate cut at the November meeting at nearly 95.2%. The release of US PCE inflation data on Thursday may provide some hints on the size and pace of a rate cut by the US Federal Reserve (Fed). Core PCE is expected to rise 0.2% m/m in September, while core PCE for the same period is expected to rise 0.3% m/m. The softer-than-expected result may raise hopes for deeper rate cuts and put pressure on the US dollar. Trading recommendation: Watch the level of 1.29500, if the level is fixed below we consider Sell positions, if the level rebounds we consider Buy positions.
by Fresh-Forexcast2004
GBP/USD Reversal AlertGBP/USD has reached its weekly resistance level, forming a bearish divergence alongside an almost double-top pattern, signaling potential downside pressure. While the U.S. dollar may exhibit temporary bullish momentum, contributing to a potential reversal in GBP/USD, caution is advised as the ABCD pattern remains incomplete. Traders should be mindful of this incomplete formation and manage risk appropriately when considering a reversal trade.
Short
by AnalytixEdgeByQasim
9
GBPUSD LONG 150PIPS1. Key Support and Resistance Levels Identify recent support levels to confirm the stop-loss placement around 340 pips below your entry. If the price sits close to a strong support level, this might provide a buffer against further declines. Ensure your 150-pip target is near a resistance level, especially if GBP/USD has been trending upward. Resistance nearby could indicate the trade is likely to reach the take-profit level. 2. Fundamental Analysis GBP/USD is highly sensitive to economic news from both the UK and US, including interest rate decisions by the Bank of England (BoE) and Federal Reserve, as well as data like employment figures, inflation reports, and GDP releases. Check for upcoming economic data releases that could cause volatility in GBP/USD, as this would impact the probability of reaching your take-profit level without hitting the larger stop loss.
Long
by LORDOFTHETRADERS
GBPUSD_119 2024.11.04 01:45:04 Trading Signal BUYFrankPro Signal for GBPUSD_119 Type: Screen Signal: BUY TP: 1.30272 SL: 1.2964 Entry Price: 1.29719 Analysis for GBPUSD Forecast Overall(Short-Term, Long-Term): ST= Probably Up LT= Probably Down Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Up LT=Down ST=Up LT=Down Analysis Method(0) Based on the analysis, here are my predictions for the GBP/USD pair: **Short-term (next few days):** * The pair is expected to test the support area near 1.2935, which may lead to a slight decline. * However, the overall forecast suggests an attempt to develop a decline followed by a rebound, indicating a potential short-term bounce. * The US Nonfarm Payrolls (NFP) data for October, scheduled for release later on Friday, may influence the USD's strength and affect the GBP/USD pair. * Given the bearish trend indicated by moving averages, I predict the price to **go down** in the short term, but with a potential rebound. **Long-term (next few weeks/months):** * The pair is expected to rebound upwards, with a target of around 1.3175. * A breakout of the resistance area above 1.3105 would confirm the growth scenario. * The UK's Autumn Forecast Statement and the Office for Business Responsibility's upward revision of inflation forecasts may cap the downside for the Pound Sterling, suggesting less likelihood of interest rate reductions by the Bank of England. * Given the overall forecast and technical analysis, I predict the price to **go up** in the long term. Please note that these predictions are based on the analysis provided and are subject to change based on new market data and events. Result: ST=Down LT=Up Analysis Method(1) Based on the provided data, here is my analysis of the expected price movement for the GBP/USD pair: **Short-term analysis (next few days to a week):** * The formation of a "Triangle" model and the relative strength indicator (RSI) suggest a potential rebound and continued growth towards the level of 1.3175. * The pair is currently trading near the support area of 1.2935, which could lead to a bounce back. * A close above 1.3000 could target resistance at 1.3100 and the 50-day SMA at 1.3139. * Therefore, in the short-term, the price is expected to **go up** towards the 1.3175 level. **Long-term analysis (month of November and end of 2024):** * The monthly forecast for November 2024 suggests a decline in the GBP/USD rate, with an average forecast of 1.273 and a predicted rate of 1.269 at the end of the month. * Analysts at WalletInvestor project a bearish trend for the GBP/USD pair, with the rate expected to decline from 1.321 to 1.309 by the end of 2024. * However, the forecast for November from LongForecast suggests a high exchange rate of 1.306, which is higher than the current trading level. * Considering the mixed forecasts, in the long-term, the price is expected to **stay the same** or experience a slight **decline**. Please note that these analyses are based on the provided data and should not be considered as investment advice. The foreign exchange market is highly volatile, and prices can change rapidly due to various market and economic factors. Result: ST=Up LT=Down Analysis Method(2) **Short-Term Analysis (Next few days to a week)** Based on the provided data, the short-term forecast for the GBP/USD pair is slightly bullish. The pair is expected to test the support area near 1.2935 and then rebound, continuing its growth towards 1.3175. The technical analysis also suggests a potential rebound from the support line, and a close above 1.3000 could target resistance at 1.3100 and the 50-day SMA at 1.3139. However, a close below 1.2971 could lead to further downside risk. **Expected Price Movement (Short-Term): UP** **Long-Term Analysis (Next few months to a year)** The long-term forecast for the GBP/USD pair is mixed and uncertain. WalletInvestor predicts a bearish trend, with a decline to 1.309 by the end of 2024 and further to 1.278 in 2025. On the other hand, LongForecast suggests significant fluctuations in 2025, with a range between 1.336 and 1.437. However, the overall trend is expected to be volatile and uncertain. **Expected Price Movement (Long-Term): UNCERTAIN (BOTH UP AND DOWN POSSIBLE)** Result: ST=Up LT=Down
Long
by frankiepro
GBPUSD → Confirmation of a trend change. The Bear ZoneFX:GBPUSD confirms the bearish market structure. The fundamnetal factor is favorable for further decline. Since the opening of the session, the price has been testing the previously broken boundary. The market is not ready to resist the sellers yet On the background of difficult situation in the west, the course of interest rate cuts in the UK, a pool of sell orders is forming in the zone 1.315 - 1.300. Buyers are turning around. On Monday, in the Asian session, the retest of the previously broken trend support ended with a downward impulse, which confirms the bearish mood in the market. GBPUSD confirms the price exit from the channel. It is possible that another retest is possible, as the dollar is forming a short-term correction, but it does not change the general essence of it Resistance levels: 1.3044, 1.3068 Support levels: 1.300, 1.2975, 1.2938 The trigger for the continuation of the fall will be the breakdown of 1.3000 and further consolidation of the price below this zone. Additional scenario: retest of 1.3063 - 1.3075 before further fall Rate, share your opinion and questions, let's discuss what's going on with ★ FX:GBPUSD ;) Regards R. Linda!
Short
by RLinda
3
Quick Short Thought ProcessSoooo Same As Last Week I Will Be Watching My 3. A/U, G/U, And U/J... While Checking For Movement After A Nice Nap . I Notice A Bit Of A Gap In A/U And G/U That May Have Happened When I Logged Off To End My Week.. But Im Currently In A Short On G/U, My Second Trade Of The Day I Entered At 1.295600 For This One About 2 Pips In Profit But 8 Pips On G/U Total.. Im Almost Positive That It Will Start To Go Back Up Soon Just Because The Markets Does That Sometimes... (Actually Shot Up As Im Writing This Post) But I Think That Both G/U And A/U Will Take The Time To Close Those Gaps Today And Maybe Tomorrow So Thats What Im Counting On For Today. I Wil l Continue To Watch My Screeners Just In Case Tho. Sometime Tonight I Want To Try A Few U/J Calls And See Where That Gets Me. Once I Re-establish My Highs And Lows I Will Post A Screenshot With My Next Plans For Any Feedback Is Appreciated .
by imelaninn