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GBP/USD_SPT - GBP/USD

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GBPUSD_SPT trade ideas

GBPUSD bullish divergence daily. Lows and Highs Div. I put out a buy on this pair a week or 2 ago, GBPUSD, a lot can happen in this amount of time, last time I called a Long-trade on this pair & the same this time. GBPUSD is moving up towards a neckline breakout on a Double-bottom system intraday. But the real glossy confluence I see is the Daily chart and bullish RSI divergence. In recent days the RSI on the daily chart, where divergences probably work best because most traders look for divergences on Daily & even Weekly, 4hr charts, has seen lower low to higher low on the RSI AND also lower high to higher high on the daily RSI, but on the price action for GBPUSD it was a lazy lower prices down compared to a bullish turnaround on the RSI. So this divergence is going to be noticed by traders and GBPUSD should be a buy going forwards. As an added bonus of confluence, I threw in some MACD's to also highlight that the trade is supported on the Daily by MACD's sweeping upwards.
Long
by Easy_Explosive_Trading
GBPUSD Wave Analysis 7 November 2024 - GBPUSD reversed from support level 1.2840 - Likely to rise to resistance level 1.3050 GBPUSD currency pair recently reversed up from the support level 1.2840 (which stopped the previous intermediate correction (A) at the end of October). The upward reversal from the support level 1.2840 created the daily Japanese candlesticks reversal pattern Piercing Line. Given the clear daily uptrend and the strong US dollar sales seen today, GBPUSD currency pair can be expected to rise to the next resistance level 1.3050 (top of the previous minor correction 4).
Long
by FxProGlobal
GBP/USD climbs after Bank of England cut ratesThe British pound has rebounded on Thursday. In the North American session, GBP/USD is trading at 1.2983, up 0.81% on the day. A day earlier, the pound took a drubbing, sliding 1.2%. There was no surprise as the Bank of England lowered the key interest rate by 0.25% to 4.75%. The markets had priced in the move at close to 100% and the Monetary Policy Committee voted 8-1 in favor of the cut, with one member voting to hold rates at 5%. The BoE has now lowered rates twice since its easing cycle in August. BoE policymakers had signaled that a rate cut was coming, as September inflation dropped sharply to 1.7%, the first time in over three years that inflation dropped below the BoE’s target of 2%. The central bank is expected to lower rates gradually in modest increments of 25 basis points in the coming months, but last week’s UK budget could complicate things. The budget included tax hikes and increased spending, which is expected to boost inflation. That could mean a pause at the next BoE meeting in December and a slower pace of rate cuts next year. The Federal Reserve meets later today, in the shadow of the dramatic US election, in which Republican Donald Trump cruised to a surprisingly easy victory over Democrat Kamala Harris. The Fed is virtually certain to trim rates by 0.25% to 4.5%-4.75%. With inflation easing, the Fed is expected to continue its rate-cutting cycle into 2025. GBP/USD pushed above resistance at 1.2920 earlier and then tested resistance at 1.3007 There is support at 1.2793 and 1.2706
by OANDA
GBPUSD_104 2024.11.07 17:19:04 Trading Signal SELLFrankPro Signal for GBPUSD_104 Type: Screen Signal: SELL TP: 1.29484 SL: 1.29868 Entry Price: 1.29804 Analysis for GBPUSD Forecast Overall(Short-Term, Long-Term): ST= Strong Down LT= Strong Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Down LT=Up ST=Down LT=Up Analysis Method(0) Based on the analysis, here are my predictions for the GBP/USD pair: **Short-term (next few days):** * The price is expected to go down. The pair is currently moving within a descending channel, indicating a short-term bearish trend. The price is also below the 100-day SMA (1.2980), which is a bearish signal. * However, there is a potential for a short-term recovery, as the pair is building recovery momentum toward 1.2950 and has found support near this level. * Key levels to watch in the short-term include 1.2940, 1.2900, and 1.2980. **Long-term (next few weeks/months):** * The price is expected to go up. The forecast suggests that the pair is expected to test the support area near 1.2765, but then continue to grow with a target near 1.3085. * A breakout above the resistance area and a price close above 1.3005 could signal a reversal, indicating a potential long-term bullish trend. * The Bank of England's stance on interest rates and the prospect of a recession in the UK may influence the pair's volatility, but the overall long-term trend is expected to be bullish. Please note that these predictions are based on the analysis provided and are subject to change as new data and events unfold. Result: ST=Down LT=Up Analysis Method(1) Based on the provided analysis, here are my conclusions on the expected price movement of the GBP/USD pair: **Short-term (next few days):** * The pair is currently in a descending channel, indicating a short-term bearish trend. * The Relative Strength Index (RSI) is above 50, but the pair has yet to flip the 100-day SMA into support. * Key support levels are at 1.2940 and 1.2900, while resistance is at 1.3000 and 1.3040. * Given these factors, I expect the price to **go down** in the short-term, potentially testing the support area near 1.2765. **Long-term (next few weeks/months):** * Despite the short-term bearish trend, there is an expectation for the GBP/USD pair to rebound and continue growing towards the level of 1.3085. * A breakout of the resistance area and a price close above 1.3005 would confirm the growth option. * Economic data and central bank decisions, such as the Bank of England's expected rate cuts, could impact the pair's movement. * Considering these factors, I expect the price to **go up** in the long-term, potentially reaching higher targets such as 1.3042 and 1.3057. Please note that these conclusions are based on the provided analysis and are subject to change as new data and events emerge. Result: ST=Down LT=Up Analysis Method(2) Based on the provided analysis, here is my assessment of the expected price movement for the GBP/USD pair: **Short-term (next few days):** * The pair is currently trading near 1.3000, and the technical analysis suggests that it is yet to break above the 100-day SMA at 1.2980. * The market sentiment is cautious due to the upcoming US presidential election, which may lead to a temporary consolidation or a slight decline. * The support levels at 1.2940 and 1.2900 are likely to hold, but a break below these levels could lead to a decline towards the November 1 low of 1.2884. * Therefore, in the short-term, the price is expected to **stay the same** or **go down** slightly, with a potential range of 1.2940-1.3000. **Long-term (next few weeks/months):** * The forecast and analysis suggest that the pair could test the support area near 1.2765 before potentially rebounding and growing towards the 1.3085 level. * The expectation of interest rate cuts by the Bank of England by the end of 2025 could lead to a depreciation of the pound in the long-term. * However, the US Dollar is currently under pressure, which could allow the GBP/USD to hold its ground or even appreciate in the long-term. * Therefore, in the long-term, the price is expected to **go up**, with a potential target of 1.3085, but with a possible decline to 1.2765 before rebounding. Please note that these assessments are based on the provided analysis and are subject to change as new information becomes available. Result: ST=Down LT=Up
Short
by orbborisson
GBP/USD tests key 1.30 handle ahead of FOMCThe pound rallied following the Bank of England’s decision to cut interest rates earlier. Governor Bailey refrained from defining what “gradual” would mean for the pace of future cuts. The GBP/USD rally was aided by a sharp drop in the US dollar. The focus is now turning to the FOMC rate decision, which means the greenback could change course again. The Bank of England lowered rates by 25 basis points to 4.75%, aligning with market expectations. The Monetary Policy Committee voted 8-1 in favor of the cut, as anticipated. However, the BoE maintains it can’t lower rates “too quickly or by too much,” opting instead for a more measured approach. The central bank sees a gradual easing as appropriate, keeping to its September guidance on rates. The recent budget is expected to lift inflation slightly, adding around 0.5% to CPI at its peak according to the BoE —just above the forecast from the Office for Budget Responsibility (OBR). Like the OBR, the BoE isn’t expecting significant economic growth from this budget. As it stands, the Bank intends to continue cutting rates gradually over the coming months. This should keep the GBP under pressure. Will the GBP/USD now hold below the key 1.30 handle or break above it? What it does here will determine the near-term direction. All eyes are on the Fed Chair Powell. The Fed could shed light on the central bank’s next steps. Markets are fully expecting a 25-basis-point reduction. Chair Powell may steer clear of any commitment to a rapid easing cycle, especially if he believes Trump’s policies could drive inflation. Any indication of hawkishness could boost bond yields further, which could give the dollar another boost. Even though rate expectations have shifted, significant changes in market trends are unlikely in the immediate term. However, over the coming quarters, rising US yields could strengthen the dollar, adding pressure on other economies while supporting the US market’s broader trend. By Fawad Razaqzada, market analyst with FOREX.com
by FOREXcom
GBPUSD 180 Pip ShortStill playing off the 4h bearish trend that GBPUSD is in. We have traded the pullback all of the way back up and are now once again approaching the 4h supply zone. I am looking for a reversal in market structure on the lower time frames to confirm the continuation of the bearish trend on the higher time frames. As this is a continuation trade expecting the higher time frames to kick in and continue the bearish trend the target is a new lower low on the 4h chart. Make sure that you boost this trade idea and follow. Over 300 pips of movements called so far this week!!!
Short
by DrRoach2
14
GBPUSD_107 2024.11.07 14:16:06 Trading Signal BUYFrankPro Signal for GBPUSD_107 Type: Screen Signal: BUY TP: 1.2998 SL: 1.29623 Entry Price: 1.29674 Analysis for GBPUSD Forecast Overall(Short-Term, Long-Term): ST= Strong Down LT= Strong Up Forecast Methods(Short-Term, Long-Term): ST=Down LT=Up ST=Down LT=Up ST=Down LT=Up Analysis Method(0) Based on the analysis, here are my predictions for the GBP/USD pair: **Short-term (next few days):** * The price is expected to go down. The pair is currently moving within a descending channel, indicating a short-term bearish trend. The price is also below the 100-day SMA (1.2980), which is a bearish signal. * However, there is a potential for a short-term recovery, as the pair is building recovery momentum toward 1.2950 and has found support near this level. * Key levels to watch in the short-term include 1.2940, 1.2900, and 1.2980. **Long-term (next few weeks/months):** * The price is expected to go up. The forecast suggests that the pair is expected to test the support area near 1.2765, but then continue to grow with a target near 1.3085. * A breakout above the resistance area and a price close above 1.3005 could signal a reversal, indicating a potential long-term bullish trend. * The Bank of England's stance on interest rates and the prospect of a recession in the UK may influence the pair's volatility, but the overall long-term trend is expected to be bullish. Please note that these predictions are based on the analysis provided and are subject to change as new data and events unfold. Result: ST=Down LT=Up Analysis Method(1) Based on the provided analysis, here are my conclusions on the expected price movement of the GBP/USD pair: **Short-term (next few days):** * The pair is currently in a descending channel, indicating a short-term bearish trend. * The Relative Strength Index (RSI) is above 50, but the pair has yet to flip the 100-day SMA into support. * Key support levels are at 1.2940 and 1.2900, while resistance is at 1.3000 and 1.3040. * Given these factors, I expect the price to **go down** in the short-term, potentially testing the support area near 1.2765. **Long-term (next few weeks/months):** * Despite the short-term bearish trend, there is an expectation for the GBP/USD pair to rebound and continue growing towards the level of 1.3085. * A breakout of the resistance area and a price close above 1.3005 would confirm the growth option. * Economic data and central bank decisions, such as the Bank of England's expected rate cuts, could impact the pair's movement. * Considering these factors, I expect the price to **go up** in the long-term, potentially reaching higher targets such as 1.3042 and 1.3057. Please note that these conclusions are based on the provided analysis and are subject to change as new data and events emerge. Result: ST=Down LT=Up Analysis Method(2) Based on the provided analysis, here is my assessment of the expected price movement for the GBP/USD pair: **Short-term (next few days):** * The pair is currently trading near 1.3000, and the technical analysis suggests that it is yet to break above the 100-day SMA at 1.2980. * The market sentiment is cautious due to the upcoming US presidential election, which may lead to a temporary consolidation or a slight decline. * The support levels at 1.2940 and 1.2900 are likely to hold, but a break below these levels could lead to a decline towards the November 1 low of 1.2884. * Therefore, in the short-term, the price is expected to **stay the same** or **go down** slightly, with a potential range of 1.2940-1.3000. **Long-term (next few weeks/months):** * The forecast and analysis suggest that the pair could test the support area near 1.2765 before potentially rebounding and growing towards the 1.3085 level. * The expectation of interest rate cuts by the Bank of England by the end of 2025 could lead to a depreciation of the pound in the long-term. * However, the US Dollar is currently under pressure, which could allow the GBP/USD to hold its ground or even appreciate in the long-term. * Therefore, in the long-term, the price is expected to **go up**, with a potential target of 1.3085, but with a possible decline to 1.2765 before rebounding. Please note that these assessments are based on the provided analysis and are subject to change as new information becomes available. Result: ST=Down LT=Up
Long
by orbborisson
EDUCATION: The “Fake” Engulfing Candle: A SNEAKY TRAPAs traders, we’re often taught to look for classic price action patterns, and one of the most well-known is the Engulfing Candle. It's that strong reversal pattern where the body of the second candle completely engulfs the body of the first, signaling potential trend reversals or continuations. But what happens when that engulfing candle shows up in the "wrong" place? That’s what I like to call a "Fake" Engulfing Candle. A "Fake" Engulfing Candle is one that paints on the chart but in a location that doesn’t align with the market context or trend. For example, if you’re in a strong, established trend, an engulfing candle that appears in the middle of the trend (without any supporting structure or context) could be a false signal. This kind of engulfing candle might look great on the chart, but it's not telling you the full story—it’s a signal with poor timing. Understanding the Importance of Location The location of an engulfing candle is key. A "real" engulfing candle typically forms after a clear trend exhaustion or at a key support or resistance level. These are areas where price is likely to reverse, and that’s where an engulfing pattern becomes meaningful. However, when the engulfing candle appears in random locations—without any clear structure around it—it’s often just noise in the market. Fake signals, like this, can lead traders to make impulsive decisions, chasing trades that aren’t supported by solid market structure or context. Think of it like walking into a room full of noise—you may hear words, but they’re not telling you anything meaningful. How to Spot a Fake Engulfing Candle Context is King: Look for the engulfing candle to form after a trend exhaustion or near a key support or resistance level. If it pops up in the middle of a strong trend with no visible reason for reversal, chances are it’s a fake. Volume Confirmation: Is the engulfing candle supported by volume? A strong engulfing candle should have an increase in volume, confirming the strength of the move. If volume is absent or weak, the signal may be unreliable. Previous Market Structure: The best signals often come from patterns that align with previous market structure, such as previous highs or lows. If the engulfing candle doesn’t respect any major levels or swing points, it might not be worth trading. Practical Takeaway: Don't Fall for the Fake The takeaway here is simple: don’t let the appearance of a "perfect" engulfing candle fool you. Just because it looks good on the chart doesn’t mean it’s the right signal for the current market conditions. Always pay attention to the context around the pattern and confirm it with volume and other technical indicators. Remember, location matters when it comes to identifying valid trade setups. Have you ever been caught by a "Fake" Engulfing Candle? What’s your process for distinguishing real signals from fake ones? Drop your thoughts in the comments—I'd love to hear how you handle these tricky setups!
Editors' picks
Education
by TLTurnerTV
8
GBPUSD forming a bottom?GBPUSD - 24h expiry Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. Price action looks to be forming a bottom. Posted a Double Bottom formation. Preferred trade is to buy on dips. Bespoke support is located at 1.2865. We look to Buy at 1.2865 (stop at 1.2825) Our profit targets will be 1.2965 and 1.2985 Resistance: 1.3020 / 1.3060 / 1.3100 Support: 1.2860 / 1.2830 / 1.2800 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
Long
by OANDA
Examining the GBP/USD chart on the 4-hour timeframeHere is a detailed analysis along with suggested entry, take profit (TP), and stop loss (SL) levels based on a 1:3 risk-to-reward ratio. Analysis: 1. Trend Observation: The pair recently had a strong downtrend from late September, indicating bearish momentum. While it attempted to rally afterward, GBP/USD continues to show lower highs and lower lows, suggesting a potential continuation of the downtrend. 2. Key Support and Resistance Levels: Resistance: Around 1.3080 and 1.3150, where previous rallies have been capped. Support: Around 1.2870 and 1.2750, where the price has shown buying interest. 3. Potential Scenarios and Setups: Bearish Scenario (Continuation of Downtrend): GBP/USD could move lower if it fails to break above 1.3080 resistance, which would confirm continued selling pressure. Signs of bearish continuation patterns around this level would support this setup. Bullish Scenario (If Price Finds Support): If GBP/USD holds above the 1.2870 support level, a short-term retracement could occur. Watch for bullish reversal signals around this area to confirm a possible pullback. Strategy Summary: 1. Risk-to-Reward Ratio: Both setups have approximately a 1:3 risk-to-reward ratio. 2. Market Confirmation: Wait for confirmation patterns, such as candlestick patterns, near the entry levels before entering. 3. Economic Event Monitoring: GBP/USD can be influenced by key UK and US economic data, as well as any developments on interest rates or economic outlook from the Bank of England and Federal Reserve.
Long
by ShariarsLife
Examining the GBP/USD chart on the 4-hour timeframeHere is a detailed analysis along with suggested entry, take profit (TP), and stop loss (SL) levels based on a 1:3 risk-to-reward ratio. Analysis: 1. Trend Observation: The pair recently had a strong downtrend from late September, indicating bearish momentum. While it attempted to rally afterward, GBP/USD continues to show lower highs and lower lows, suggesting a potential continuation of the downtrend. 2. Key Support and Resistance Levels: Resistance: Around 1.3080 and 1.3150, where previous rallies have been capped. Support: Around 1.2870 and 1.2750, where the price has shown buying interest. 3. Potential Scenarios and Setups: Bearish Scenario (Continuation of Downtrend): GBP/USD could move lower if it fails to break above 1.3080 resistance, which would confirm continued selling pressure. Signs of bearish continuation patterns around this level would support this setup. Bullish Scenario (If Price Finds Support): If GBP/USD holds above the 1.2870 support level, a short-term retracement could occur. Watch for bullish reversal signals around this area to confirm a possible pullback. Strategy Summary: 1. Risk-to-Reward Ratio: Both setups have approximately a 1:3 risk-to-reward ratio. 2. Market Confirmation: Wait for confirmation patterns, such as candlestick patterns, near the entry levels before entering. 3. Economic Event Monitoring: GBP/USD can be influenced by key UK and US economic data, as well as any developments on interest rates or economic outlook from the Bank of England and Federal Reserve.
Long
by ShariarsLife