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GBP/USD_SPT - GBP/USD

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GBPUSD_SPT trade ideas

Sell Idea on GBP/USDThe GBP/USD pair is showing bearish pressure after rejecting the resistance level at 1.2300. The formation of lower highs and the break below the 1.2200 support level indicate potential continuation of the downtrend. 🔹 Technical Analysis: The 1.26000 level is acting as a strong resistance zone. The RSI indicator is below 50, supporting bearish momentum. 🔹 Key Notes: Ensure proper risk management with a risk-to-reward ratio of at least 1:2. Watch for key economic events related to GBP and USD that could impact this pair. This idea is for educational purposes only, and trading decisions are the responsibility of the trader.
Short
by mohammad_alavi
GBPUSD SHORTWe remain strongly bearish on GBP/USD, and the pair is expected to continue its downward movement next week. USD news is likely to come in relatively strong, putting additional pressure on GBP/USD. Moreover, economic uncertainty in the UK, combined with the global geopolitical situation, is making GBP/USD even weaker. Last week, I highlighted that GBP/USD was heading lower while many anticipated an upward move. I see the same pattern unfolding this week. Stop trying to catch a reversal—stick to the trend and align with the fundamentals.
Short
by OliverFRX
GBP USDSell Entry on a Bullish Retracement: If the price rises to the 1.2570 - 1.2600 level (a potential resistance area close to the current price), you can enter a sell position. Entry Confirmation: Wait for confirmation by a bearish candle closing on a smaller timeframe (such as 15 minutes or 1 hour) at this area. Stop Loss: Set the Stop Loss above the local resistance: The Stop Loss can be placed at the 1.2630 level. If the price breaks this level upwards, the potential downtrend might be reversed. Targets (Take Profit): First Target (TP1): At the 1.2480 level, which is close to the recent low. Second Target (TP2): At the 1.2420 level, a deeper potential support level if the decline continues. You can adjust the Stop Loss to the entry level after reaching the first target to ensure risk reduction.
by Mixico
British retail sales decline, pound extends lossesThe British pound is lower for a straight third trading day on Friday. In the North American session, GBP/USD is trading at 1.2543, down 0.36% on the day. UK retail sales disappointed in October, with a sharp decline of 0.7% m/m. This follows a downwardly revised 0.1% gain in September and missed than the market estimate of 0.3%. Annually, retail sales rose 2.4%, well below the market estimate of 3.2%. The September reading was revised downwards from 3.9% to 3.2%. The sharp drop in retail sales can be attributed to low consumer confidence and the recent Budget. The GfK consumer confidence index showed an improvement, rising from -21 to -18, but this points to a very pessimistic British consumer who is thinking twice before making discretionary purchases. The Reeves Budget on Oct. 31 dampened consumer spending, as the government had warned about “difficult decisions” and proceeded to deliver a Budget with some 40 billion pounds worth of tax increases. Understandably, consumers held back on spending in October and retail sales were down across most categories. The economy has slowed since the July election and services and manufacturing activity have decelerated for three straight months. The UK releases the Services and Manufacturing PMIs later today. The Services PMI is expected to remain unchanged at 52.0, while the Manufacturing PMI if projected to inch up to 50.0, up from 49.9. If the PMIs are weaker than expected, the pound could respond with losses. The US will also publish manufacturing and services PMIs on Friday, with little change expected. The Manufacturing PMI is expected to rise from 45.5 to 45.8, and the Services PMI, which has been showing solid growth, from 55 to 55.2. GBP/USD is testing support at 1.2557, followed by support at 1.2525 There is resistance at 1.2609 and 1.2641
by OANDA
Opportunity for cable to rebound depending on dataThe pound has made strong losses against the US dollar in the third quarter so far, having been overheated in September. Donald Trump’s election has generated some negativity due to the likely introduction of tariffs and general deterioration of relations between the UK and USA. However, with the BoE now much less likely to cut rates next month and with only two cuts expected next year, it’s questionable whether there’s a strong fundamental reason for further strong losses by cable. The price is still in the area of the 50% monthly Fibonacci retracement which seems to be quite a strong support. An attempt to move below $1.26 was rejected with some strength on 15 November but $1.27 seems to be a significant local resistance. For a major forex pair, cable’s movements have been quite dramatic in the last few months. There’s still a strong oversold signal from the slow stochastic after this oscillator’s crossover on 18 November. $1.23 seems to be the next critical support on the weekly chart but it’d be unlikely to see the price move that far before the end of the year. If the next interaction with $1.27 leads to a breakout above, one might expect a pause before the next possible movement lower, but a reversal of the downtrend also looks possible. In the short term, selling looks more risky than buying unless there are significant surprises from upcoming data.
by Exness_Official
GBP/USD: Bearish Trend Targets Lower LevelsGBP/USD is currently trading around 1.2564, extending its bearish trend after breaking below a long-term ascending channel. The price is consolidating below the resistance zone at 1.2685, which previously served as a support level, now turned resistance. This area is critical as it aligns with the recent breakdown structure. If GBP/USD retests the 1.2685 level and fails to break above, the bearish trend is likely to continue. The next major support lies around 1.2360, where buyers may attempt to regain control. However, a sustained bearish move could push the pair even lower. On the upside, a break above 1.2685 could lead to a short-term recovery toward the resistance zone near 1.2880, but this remains less likely given the prevailing downtrend. Traders should focus on selling opportunities near resistance levels, with targets around 1.2360 and stops placed above 1.2700 to manage risk effectively.
Short
by Veda_Solomon
GBP/USD: Bearish Trend Remains DominantGBP/USD is currently trading around 1.2612, maintaining its bearish outlook as the price fails to break above key resistance zones. The pair has tested the 1.2640-1.2650 resistance area multiple times, with clear rejections indicating strong selling pressure. The next significant zone lies at 1.2600-1.2620, which is expected to act as an immediate resistance level. If the price retests this area and fails to break higher, a continuation of the bearish trend is likely, targeting the 1.2570 level initially and potentially extending toward 1.2500. However, if GBP/USD manages to break above 1.2620, it could revisit the upper resistance near 1.2640, creating a short-term bullish scenario. For now, sellers dominate, and a failure at current levels could provide an excellent opportunity to align with the downward momentum. Traders should monitor the 1.2600-1.2620 zone for potential short entries, with stops above 1.2645 to manage risk.
by Mr_Siro