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GBP/USD_SPT - GBP/USD

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GBPUSD_SPT trade ideas

GBP, HUGE UPSIDE! Back to Long-standing 38-year support!!!I checked GBP tri-monthly chart which is not usually posted here -- and the pair is already telling us something on the direction it wants to go at broader long term spectrum. On the tri monthly data, GBP has started shifting its trend --- bouncing off it perfectly on a 38-year long standing very solid support. The pair's last visit to this price range was on April 1985. The pair is back at 1.0 FIB LEVEL (on tri-monthly) -- this is outrageously beyond bargain. Histogram wise, another higher lows was created conveying the current price range to be the last base price before the series of incoming series of ascend. Incoming Price valuation will be above average -- and that's an understatement. Bubble up volume (bottom indicator) finally appeared after almost 2 years (last one was July 2021). This is the 2nd straight appearance in 6 months this year, cementing the intention of the pair's target direction. Confidence on this pair's long term direction is firm. A 10% increase from current price within the next 12-16 months (very long candle on tri-monthly) is very possible. Spotted at 1.25 TAYOR. Safeguard capital always.
Long
by JSAL
11
GBPUSD - 4hrs ( Buy Trade Target Range 240 PIP ) 🟢 Pair Name :GBP/USD Time Frame : 4hrs Chart / Close Scale Type : Large Scale ------ spreading knowledge among us and to clarify the most importan+t points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money 🟢 Key Technical / Direction ( Long ) ——————————— Bullish Break 1.30250 Area Reasons - Major Turn level - Visible Range Hvn - Pattern Break - Choch Zone - Fixed Hvn Bearish Reversal 1.32750 Area
Long
by GoldenEngine
6
Election Day Trade: GBPUSDToday marks a significant moment in the United States—Election Day—and as traders, we know that market sentiment can be influenced by political events. This morning, I took a strategic position on GBPUSD, entering the trade at 1.29623. With the current price now at 1.30266, the trade is showing promising momentum. The volatility associated with elections can create unique opportunities. In this case, the British pound seems to be gaining traction against the dollar, likely reflecting optimism or reactions to the unfolding political landscape. The key to successful trading on days like today is staying vigilant, managing risk, and being ready to adjust your strategy based on incoming news and market reactions. As always, I emphasize the importance of having a solid exit plan. With the market currently moving in my favor, I’m assessing the best points for taking profits while also remaining aware of potential reversals as the day progresses. What trades are you taking today, and how are you navigating the uncertainties of Election Day? Share your thoughts and strategies in the comments below! Your perspective could spark valuable conversations among fellow traders. (All Trading Ideas are shared for Educational Purposes. Trade the market at your own risk.)
Long
by TLTurnerTV
2
GBP / USDKey Characteristics of GBP/USD: Volatility: GBP/USD is known for its relatively high volatility compared to other major currency pairs, influenced by both U.K. and U.S. economic and political events. Economic Sensitivity: The pair reacts to a variety of economic data, including interest rate decisions by the Bank of England (BoE) and the U.S. Federal Reserve, GDP growth, inflation rates, employment data, and trade balances. Sensitivity to Political Events: Political changes in the U.K. and U.S., such as elections or Brexit developments, have historically impacted this pair significantly, often leading to sharp price movements. Market Liquidity: GBP/USD is highly liquid but may see wider spreads during times of economic uncertainty, especially around major events or announcements.
by ChartsWithAI
GBP/USD Strengthens Amid BoE Rate Cut Speculations and U.S. DataOn Friday, the GBP/USD currency pair exhibited a notable rise against its major counterparts, driven by a reassessment among traders regarding the anticipated interest rate cuts from the Bank of England (BoE) for the remainder of the year. Market sentiment has shifted as analysts speculate that the BoE is poised to implement a rate reduction in one of its forthcoming meetings in November or December. According to recent insights from Reuters, traders are now factoring in an 80% likelihood that the BoE will lower its key borrowing rates by 25 basis points (bps) on Thursday, bringing them down to 4.75%. This potential rate cut comes amidst a backdrop of economic considerations that have traders on alert, particularly with the release of key U.S. employment figures today. The market will focus on the USD Average Hourly Earnings month-over-month data, Non-Farm Employment Change, and the Unemployment Rate. These indicators are critical and are expected to bring strong volatility to the markets. Current forecasts suggest a headwind for the USD, which could concurrently bolster the GBP against the euro and impact other pairs correlated with the DXY. From a technical analysis perspective, GBP/USD has recently approached a significant demand area, which could serve as a springboard for upward movement. The Commitment of Traders (COT) report reflects a bearish sentiment among retail traders, indicating a broader market consensus that may be shifting. In contrast, "smart money"—institutional investors—appear to be accumulating long positions, potentially signaling a bullish outlook. Adding another layer of complexity are seasonal trends, which historically suggest that the GBP/USD pair could be on the brink of a new bullish rally. Traders are now posed with a critical question: is the current price level the optimal entry point for long positions, or should they await a potential dip to a lower demand zone before committing their capital? The outcome of today’s economic data releases will likely play a pivotal role in determining the short-term trajectory of the GBP/USD pair. Should the U.S. data disappoint, it may further sway sentiment toward the pound, while strong U.S. figures could dampen enthusiasm for the GBP, sparking further discussions around additional BoE rate cuts as the year draws to a close. In conclusion, the interplay between central bank policies, economic data, and market sentiment is creating an intricate landscape for traders navigating the GBP/USD pair. With potential rate cuts on the horizon for the BoE and significant U.S. economic indicators set to be released, volatility is inevitable and positions are likely to adjust in response to these developments. As the trading day unfolds, all eyes will remain glued to the charts and economic reports, seeking clarity and direction in what promises to be a dynamic session. ✅ Please share your thoughts about GBP/SD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
by FOREXN1
1
GBPUSD_102 2024.11.05 14:34:05 Trading Signal SELLFrankPro Signal for GBPUSD_102 Type: Screen Signal: SELL TP: 1.2937 SL: 1.30274 Entry Price: 1.30161 Analysis for GBPUSD Forecast Overall(Short-Term, Long-Term): ST= Strong Up LT= Strong Down Forecast Methods(Short-Term, Long-Term): ST=Up LT=Down ST=Up LT=Down ST=Up LT=Down Analysis Method(0) Based on the provided analysis, I will provide separate short-term and long-term forecasts for the GBP/USD currency pair. **Short-term forecast (next 24-48 hours)** Given the upcoming US presidential election results and monetary policy decisions from the Bank of England (BoE) and the Federal Reserve (Fed) on November 7, market volatility is expected to increase. The current trading range between 1.2900 and 1.3050 may break out in either direction. * If the US presidential election results favor Democratic candidate Kamala Harris, the US Dollar may weaken, and the GBP/USD pair may break above 1.3050, targeting 1.3100 and 1.3175. * If the election results are unfavorable for Harris, the US Dollar may strengthen, and the GBP/USD pair may break below 1.2850, targeting 1.2700. **Probability of short-term price movement:** * Up: 40% * Down: 30% * Sideways: 30% **Long-term forecast (next week and beyond)** The general trend of the GBP/USD currency pair is still bearish, according to daily chart performance. The expectations of a rate cut by the Bank of England and the Federal Reserve may influence market sentiment and lead to a downward movement in the pair. * If the BoE cuts interest rates by 0.25% or more, the pound's value may decline, and the GBP/USD pair may continue its bearish trend, targeting 1.2600 and 1.2400. * If the Fed cuts rates by a standard 25 basis points, the US Dollar may weaken, and the GBP/USD pair may experience a temporary upward movement, but the overall bearish trend may still prevail. **Probability of long-term price movement:** * Down: 55% * Up: 25% * Sideways: 20% Please note that these forecasts are based on the provided analysis and are subject to change as new information becomes available. Result: ST=Up LT=Down Analysis Method(1) Based on the provided analysis, here are my expectations for the GBP/USD pair's price movement in both the short-term and long-term: **Short-term (next few days/week):** * The pair is expected to continue its upward momentum, with a potential correction towards 1.3060 and a possible reach of 1.3128. * The ascending channel and sustained uptrend suggest a bullish bias in the short term. * However, the overbought condition indicated by the RSI (70) suggests a potential price consolidation or correction. **Expected price movement:** Up (but with potential consolidation or correction) **Long-term (end of 2024 and beyond):** * Forecasts are mixed, with LongForecast suggesting a potential strengthening of the pound sterling by the end of the year, while WalletInvestor projects a bearish trend. * The expected interest rate cut by the Bank of England (BoE) may put downward pressure on the pound sterling, potentially leading to a decline in the GBP/USD pair. * However, the uncertainty surrounding the US presidential election outcome and its impact on the US Dollar may continue to support the GBP/USD pair. **Expected price movement:** Uncertain (both up and down scenarios possible) In summary, while the short-term outlook appears bullish, the long-term forecast is uncertain due to mixed analyst predictions and the impact of upcoming economic events. Result: ST=Up LT=Down Analysis Method(2) Based on the provided data, I will analyze the GBPUSD pair's expected price movement in both the short-term and long-term. **Short-term Analysis (Next few days to end of 2024)** * The pair is currently struggling to break above the 1.3000 level, which is capped by the 100-day SMA. * Technical indicators suggest support at around 1.2914 and a potential corrective wave towards 1.3060. * The upcoming US presidential election and the Bank of England's monetary policy decision on Thursday are key factors that could influence the pair's movement. * Given the uncertainty surrounding these events, the pair is expected to trade within a range. However, the bullish gap at the start of the week and the potential for further growth aiming for 1.3128 suggest a slightly bullish bias. * Therefore, in the short-term, the price is expected to **go up** slightly, potentially reaching the 1.3060-1.3128 range. **Long-term Analysis (End of 2024 and beyond)** * Forecasts suggest the GBPUSD rate could range between 1.288 and 1.321 for November 2024, with an average for the month at around 1.273. * The pair is expected to end the month at 1.269, representing a -1.1% change. * The Bank of England's planned interest rate cuts by nearly 100 basis points by the end of 2025 are being factored into market prices, which could put downward pressure on the GBP. * Considering the forecasted range and the expected interest rate cuts, the long-term outlook for the GBPUSD pair appears **bearish**, with a potential decline towards the 1.269-1.273 range. In summary, the GBPUSD pair is expected to **go up** slightly in the short-term, potentially reaching the 1.3060-1.3128 range, but **go down** in the long-term, potentially declining towards the 1.269-1.273 range. Result: ST=Up LT=Down
Short
by frankiepro
GBPUSDclear Break of Structure (BoS) to the downside, signaling a shift in market sentiment from bullish to bearish. This break indicates that sellers are gaining control and a downtrend is likely to continue. Additionally, the price has moved into a zone of imbalance, an area where previous price action was inefficient, creating a pullback for mitigation. Now that the imbalance has been filled or mitigated, the market is primed to resume its bearish trend, presenting an ideal opportunity to enter a sell position. This combination of the BoS and the completion of imbalance mitigation supports the decision to go short on GBP/USD
Short
by elmoudden485
GBPUSD 4H longThis setup was not interesting for me last week but this week it is. The trend reached a weak and small demand zone so that's not interesting. But given all the price action for the last 2 weeks arround this level it makes it a stronger support level. Especially the strong bear candle so people ( including me ) think this will go bearish. Then suddenly it goes bullish, this is how allot of people loose money and that is what "they" need to move the markets. Entry trigger was because the price was bought up above the "weak" support line. Then we see some small indecision candles and after that another medium strong bull candle. That is a bullish sign for me so I entered :) There is off course US elections so high impact news but I will take that risk. The setup looks solid.
Long
by FX-Diaries
GBPUSD technical bearish, eye on BoE MPCMarket expectations for the November 7 meeting The Bank of England's (BoE) Monetary Policy Committee (MPC) will meet this Thursday, with 90% of market participants expecting interest rates to be cut by 25 basis points from 5% to 4, 75%. This follows the central bank's first interest rate cut of 2024, which took place at the meeting ending on July 31, 2024. At this meeting, the MPC voted with a majority to reduce the Interest Rate Bank interest rate 0.25%, down to 5%. Key economic indicators influence decisions Recent data paint a complicated picture for BoE decision-makers. The current inflation index of 1.7% is lower than the bank's 2% target, so is no longer an immediate concern for the BoE. According to the Office for National Statistics, the UK unemployment rate (for those aged 16 and over) is estimated to be 4.0% in June to August 2024 compared to 4.1% before there. From June to August 2024, average annual employee regular earnings growth (excluding bonuses) is 4.9% and the region's average annual regular earnings growth public sector was 5.2%, down 5.7% compared to the same period three months ago; for the private sector it is 4.8%. Global monetary policy context The US Federal Reserve (Fed) also meets this Thursday, with markets pricing a 25 basis point interest rate cut to 4.50%-4.75% with a probability of nearly 100%. This creates an interesting context for the BoE's decision as global central banks are increasingly shifting their focus from fighting inflation to supporting economic growth. Analyze technical prospects OANDA:GBPUSD On the daily chart, GPB/USD recovered from the lower edge of the price channel, however, the recovery was limited as the main trend of GBP/USD up to now is still a downtrend noticed by the channel. price. GBP/USD is also under pressure from the 0.236% Fibonacci retracement level, the 1.30042 horizontal resistance level and the EMA21 moving average. Even if GBP/USD manages to move above 1.30042, it still doesn't have much solid bullish conditions as there are other resistance levels above from 1.30448 and the confluence of the upper channel edge with the 0.382% Fibonacci. As long as GBP/USD remains below Ema21 and within the price channel it remains technically bearish, while the Relative Strength Index is also close to 50, the 50 level being considered resistance when RSI is below this level. During the day, the technical outlook for GBP/USD is bearish with the highlights listed below. Support: 1.29073 – 1.28448 Resistance: 1.29842 – 1.30042 – 1.30448 – 1.30705
by Xayah_trading
GBPUSD Shows Bullish Momentum Above Daily Pivot PointGBPUSD Daily Pivot Points Analysis 05-Nov-2024 GBPUSD Shows Bullish Momentum Above Daily Pivot Point GBPUSD is developing above the Daily Pivot Point at 1.2957, indicating bullish momentum. It may continue to rise with targets at Daily R1, Daily R2, and Daily R3. However, GBPUSD may face strong resistance at each of these levels, which could halt its ascent and push the price back down to the nearest broken resistance, or in the best scenario, near the Daily Pivot Point at 1.2957. A move below the Daily Pivot Point at 1.2957 would signal an increase in bearish momentum, allowing GBPUSD to develop a bearish scenario with the other Daily Support zones. So far, the trend remains bullish, albeit with low trading volume. Daily R3 - 1.3073 Daily R2 - 1.3036 Daily R1 - 1.2997 Daily Pivot Point - 1.2957 Daily S1 - 1.2916 Daily S2 - 1.2878 Daily S3 - 1.2837 You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
by KlejdiCuni
1