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British Pound / U.S. Dollar

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GBPUSD trade ideas

GBPUSD Short On Higher US CPITrade idea Continue longer term GBPUSD downside with diverging macroeconomic data's and central bank policy. Entering trade if USD CPI comes in higher to support USD strength. Fundamentals GBP - The BoE has cut rates from the high of 5.25% to the current rate of 4.75% with more MPC members voting for a cut than anticipated. Inflation is holding around the target rate, currently at 2.3% with an increase in unemployment to 4.3% (previously 4%). PMI's and GDP have also seen lower readings in recent months, all of which supporting the continuation of the BoE's rate cutting cycle. USD - The FED has been matching the BoE with the pace of the interest rate cuts but they have continued to stress the fact that they are data dependant and will hold rates if necessary. The hawkish undertones and the effects of the "Trump trade" had seen USD strength considerable over recent weeks. US CPI has increased from 2.4 to 2.6% with tomorrows release due to rise again, NFP increased more than expected along with PCE and PPI. Trigger - Along with the technical setup below, I will be looking for the potential to place a short order beneath technical levels ahead of the US CPI. If this data comes out stronger to further support the GBPUSD short the order will be triggered. If CPI is softer, the order will be cancelled. Technical Setup 4hr - Clear trend lower with 200 EMA confirming trend direction - Retracement back into a 50-61.8% fib level, 1.28000 psychological round number - 200 EMA acting as dynamic resistance - Weekly volume profile cave filled and acting as resistance 1hr - Counter trendline and channel with price most recently failing to reach the channel high, possibly indicating counter trend weakness. - Unconfirmed double top price pattern, breakout lining up with counter trendline - 14 period RSI showing bearish divergence Order placement will be below counter trendline breakout ahead of CPI release with the stoploss behind the swing high and a target at the recently swing long with potential to extend. If the level breakout before CPI wait for entry, if CPI comes in lower than expected remove order.
Short
by ElGore18
1
GBPUSD MARKET ANALYSIS!Price has been in a bearish trend for a while now In daily timeframe and it’s already close to the weekly support level. At the moment, price is at a crucial juncture where we’d expect volatility to impact the market due to economic sentiments coming up next week. From the technical standpoint, if we’d get a break above 1.29683 price will trade bullish to 1.32431 (tp1) and possible to a new high above 1.35000(tp 2) whereas a break below the weekly support Will completely change to a medium term sell
Long
by Cartela
"GBP/USD Breaks Key Support, Targeting 1.2524"GBP/USD has broken the support at the lower channel boundary around 1.2687, signaling a shift in trend towards further downside. The pair is now targeting the next support level at 1.2524. In the provided chart, the clear break of the 1.2687 support indicates a potential reversal in price movement. This level, which previously acted as strong support, is now turning into resistance. If the downward momentum continues, the pair is expected to decline further. The next key target for GBP/USD is at 1.2524, in alignment with the 0.886 Fibonacci retracement level. This level may provide significant support, and if tested, we could see a market reaction at this point. If the price fails to reclaim the 1.2687 level, the bearish trend is likely to continue towards 1.2524. A sustained break below this level could indicate further downward movement in the longer term. Traders should be aware that the current market condition is primarily driven by technical analysis, and any major economic news or Federal Reserve policy decisions could also influence the price action.
Short
by arongroups
It's Make Or Break in less than 1HR for GBPUSD. Check back. If there is 1 pair that has caused some up-down-up-down crazy, frustrating, manipulated-maybe price-action, stealing the show the past month or so would be GBPUSD. Further falls over the past 16 hours or so, with USD$ rallying following CPI data for USA. Well now its Great Britain's turn with the data in less than an hour. GDP is being released in the UK. This is what it all entails for the Pound to bounce or fail further falls. I am tipping the former. au.investing.com 18:00 GBP Construction Output (MoM) (Oct) 0.2% 0.1% 18:00 GBP U.K. Construction Output (YoY) (Oct) 0.0% -0.4% 18:00 GBP GDP (MoM) (Oct) 0.1% -0.1% 18:00 GBP GDP (YoY) (Oct) 1.6% 1.0% 18:00 GBP Industrial Production (MoM) (Oct) 0.3% -0.5% 18:00 GBP Industrial Production (YoY) (Oct) 0.2% -1.8% 18:00 GBP Manufacturing Production (YoY) (Oct) 0.9% -0.7% 18:00 GBP Manufacturing Production (MoM) (Oct) 0.2% -1.0% 18:00 GBP Monthly GDP 3M/3M Change (Oct) 0.2% 0.1% 18:00 GBP Trade Balance (Oct) -16.10B -16.32B 18:00 GBP Trade Balance Non-EU (Oct) -5.31B Check back and I will give my impressions of 'sides' & possible trading action to take.
by Easy_Explosive_Trading
GBPUSD - CONTINUATION PATTERN BULLISH FLAG Analysis GBPUSD 4HR Bullish Flag: This is a consolidation phase often seen in uptrends. It typically signals a continuation of the bullish trend. Liquidity Levels: The levels at 1.27375 and 1.28111 seem to represent potential targets where price may react or reverse. Projections: The blue zig-zag lines depict the anticipated path of price action within the flag pattern, aiming for a breakout above the resistance zone. The bullish flag is a continuation pattern formed after a strong upward trend. It typically signifies that the market is taking a breather before resuming its previous bullish direction. Liquidity Levels ($$$): 1.26438 (Support): This represents the lower bound of liquidity, where buy-side interest might accumulate. Price could potentially dip to this level before reversing upward. 1.27375 (Intermediate Resistance): A liquidity zone where the price might face some hesitation or consolidation during its move upward. 1.28111 (Target Resistance): This is the higher liquidity area and potential target for the bullish breakout. These levels are marked as potential zones of price reaction or reversal based on market interest and order flow. For confirmation of the bullish breakout: Look for a strong candlestick close above the flag's upper trendline or the 1.27375 resistance level. Increased trading volume during the breakout is an additional sign of strength. If price closes above the 1.28111 level, it might signal continuation toward higher highs. Risk Management Stop Loss: A logical stop-loss can be placed slightly below the 1.26438 liquidity support level, as a break below this may invalidate the bullish flag pattern. Take Profit: Targets can be set near or above the 1.28111 level based on risk-reward preferences.
Long
by hafidzali2020
GBPUSD GOING TO THE SKYGBP/USD is showing bullish momentum, supported by a decisive breakout above a key resistance level, accompanied by strong bullish candles and increased volume, signaling robust buying interest. Earlier in the session, a liquidity sweep below a major support level likely triggered sell stops, followed by a sharp reversal, indicating accumulation by smart money. The pair has also respected a rising intraday trendline, bouncing off it and reinforcing the upward trajectory. Technical indicators, such as bullish divergences on the RSI and MACD, further confirm weakening bearish momentum and potential for continuation higher. Additionally, the 50- and 200-period moving averages on lower timeframes are sloping upward, with a golden cross reinforcing the bullish outlook. This setup, combined with low-volume pullbacks, suggests a strong environment for further intraday gains. + was going down in response to the previous liquidity levels, is now answering this by reaching the higher K levels
Long
by edl75