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GBP/USD_SPT - GBP/USD

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GBPUSD_102 2024.11.05 07:20:05 Trading Signal SELLFrankPro Signal for GBPUSD_102 Type: Screen Signal: SELL TP: 1.28969 SL: 1.29897 Entry Price: 1.29781 Analysis for GBPUSD Forecast Overall(Short-Term, Long-Term): ST= Probably Down LT= Probably Down Forecast Methods(Short-Term, Long-Term): ST=Down LT=Down ST=Up LT=Same ST=Down LT=Down Analysis Method(0) Based on the provided analysis and forecast, here is my assessment of the expected price movement for the GBP/USD pair: **Short-term (next few days):** * The pair is expected to experience dull trading with sluggish price movements due to a lack of significant events. * There is a possibility of a bearish correction, with the pair testing the support level near 1.2835. * If the support holds, the pair could see an upward rebound and continued growth towards the 1.3535 area. * However, a breakout below 1.2850 could open up levels around 1.2700. **Expected price movement:** Neutral to slightly bearish, with a possible rebound if support holds. **Long-term (next few weeks/months):** * The medium-term outlook suggests that the British pound has significant room for further decline. * The market anticipates that the Bank of England will lower its key rate, which could lead to a continued decline in the pound against the US dollar. * A sustained break above 1.3050 could expose recent highs near 1.3100 and 1.3175, but this seems less likely given the bearish medium-term outlook. **Expected price movement:** Bearish, with a possible decline towards levels below 1.2245 if the support near 1.2535 is broken. Please note that these assessments are based on the provided analysis and forecast, and are subject to change as new events and data become available. Result: ST=Down LT=Down Analysis Method(1) Based on the provided analysis, here are my predictions for the GBP/USD pair: **Short-term (next few days/weeks):** * The pair is currently trading above the 100-day SMA, which is a bullish sign. * The RSI is slightly above 50, indicating sellers' hesitancy, which could lead to a short-term price increase. * The immediate resistance levels are at 1.3000-1.3010 and 1.3050, which are relatively close to the current price. * The upcoming economic data, such as Durable Goods Orders and the University of Michigan's Consumer Sentiment Index, could influence the pair's movement. Prediction: **Up** (short-term price increase to 1.3000-1.3010) **Long-term (next few months/2025):** * The fundamental overview suggests that the US Dollar's strength is fluctuating, and the British pound is under pressure due to concerns over the Labour government's budget. * The forecasts from WalletInvestor and LongForecast have differing views, but both suggest significant fluctuations in the pair's price. * The market uncertainty due to economic and political factors, including the prospect of a recession and upcoming general elections, could lead to high volatility. Prediction: **Stay the same** (long-term price fluctuations within a range, potentially between 1.278 and 1.437) Please note that these predictions are based on the provided analysis and are subject to change as new data and events emerge. Result: ST=Up LT=Same Analysis Method(2) Based on the provided data, I will analyze the GBPUSD pair's expected price movement for both short-term and long-term periods. **Short-term Analysis (next few days to a week)** * The pair is currently trading above the 100-day Simple Moving Average (SMA) at 1.2970, which is a bullish sign. * However, the immediate resistance levels at 1.3000-1.3010 and 1.3050 may cap the upside movement. * The British pound's recent tumble to $1.285 due to concerns over the Labour government's budget and the expected interest rate cut by the Bank of England may lead to a short-term correction. * Market volatility is expected to be high due to upcoming political events, which could lead to intense price fluctuations. **Expected Short-term Price Movement:** Neutral to slightly bearish, with a possible correction to the support level at 1.2900. **Long-term Analysis (next quarter to a year)** * Trading Economics' global macro models and analysts' expectations suggest that the British Pound will trade at 1.28 by the end of this quarter and 1.25 in the next 12 months, indicating a bearish trend. * The descending regression channel and the pair's inability to break above the resistance levels may confirm the bearish outlook. * Analysts' projections, such as WalletInvestor's forecast of a decline to 1.309 by the end of 2024, also support the bearish view. **Expected Long-term Price Movement:** Bearish, with a possible decline to the support level at 1.2800. In summary, while the short-term outlook is neutral to slightly bearish, the long-term analysis suggests a bearish trend for the GBPUSD pair. Result: ST=Down LT=Down
Short
by frankiepro
GBPUSD: Bearish Setup at Key ResistanceAfter a prolonged downtrend, GBPUSD showed signs of recovery but quickly lost momentum due to a lack of buying strength. Currently, the pair is trading around 1.2963, approaching a key resistance zone highlighted on the chart. This area is likely to attract strong selling pressure, as it’s firmly in the sights of bearish traders. A selling strategy here could be favorable. The chart also indicates two target levels for this potential downtrend. In the short term, my preference is to adopt a sell strategy. What about you? How would you trade this setup?
Short
by Mr_Siro
1
GBPUSD Analysis!!!Dear Traders, I'm observing a descending channel on GU, and expecting price to approach a key resistance zone around 1.3110 - 1.3170, marked in red. I'll be looking for bearish signs with clear confirmation, in this area to consider potential short entries. Should GBPUSD respect this resistance, it may retrace downwards, targeting support levels around 1.2900 and potentially reaching the 1.2820 zone if bearish momentum persists. However, if buyers break through the resistance, I expect further bullish movement towards the upper yellow zones. Monitoring closely for confirmations before taking any position. 🚨 Any question comment me bellow!
by FxShzd
GPBUSD Bearish Megaphone starting new wave.GBPUSD is trading inside a Bearish Megaphone for the past 30 trading days. The price may now be supported by the 1hour MA50 but has formed the bearish formation it had on all prior tops under the Falling Resistance. The 1hour RSI has formed a similar topping pattern. As a result, this is a standard sell signal for the Bearish Megaphone. All declines reached the 1.5 Fibonacci extension, so we can target at least the previous Low at 1.2850. Follow us, like the idea and leave a comment below!!
Short
by TheCryptagon
RBA Holds, BoE Expected to Cut in Volatile Week Two major central bank decisions this week join the U.S. election as key events for markets, with interest rate reductions from the Reserve Bank of Australia and the Bank of England being considered. The RBA will announce its decision Tuesday (local time), with economists polled by Reuters forecasting no change to the current 4.35% cash rate. Persistently robust economic activity and sticky core inflation are thought to be keeping the central bank cautious. All major Australian banks—ANZ, CBA, NAB, and Westpac—expect the RBA to hold steady through year-end, projecting the first rate cut to come in February 2025. Meanwhile, the BoE is anticipated to lower its Bank Rate by 25-basis points on Thursday (local time), bringing it to 4.75%, according to a Reuters poll. Last week Britain's finance minister Rachel Reeves unveiled an unexpectedly large increase in borrowing and public spending, which prompted the Office for Budget Responsibility to raise inflation forecasts. However, analysts suggest that these fiscal moves won’t likely disrupt the BoE’s path toward a rate cut this week.
by BlackBull_Markets
GBPUSD On The Rise! BUY! My dear friends, GBPUSD looks like it will make a good move, and here are the details: The market is trading on 1.2913 pivot level. Bias - Bullish Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market. Goal - 1.2964 Recommended Stop Loss - 1.2884 About Used Indicators: Pivot points are a great way to identify areas of support and resistance, but they work best when combined with other kinds of technical analysis ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1
GBPUSD I Buy and sell short-term opportunity Welcome back! Let me know your thoughts in the comments! ** GBPUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
by BKTradingAcademy
4
BUY opportunityThe GBPUSD pair presents an enticing BUY opportunity at the current price of 1.29614, with favorable potential for profit. Targets: Primary Target: 1.30990 Secondary Target: 1.34350 Breakout Scenario: 1.28800 In the event of a breach above the resistance level of 1.28800, indicative of a bearish breakout, the target price is anticipated to ascend towards 1.28000. Technical analysis indicates a notable buying sentiment prevailing in the market at the present price level. Fundamental factors align with the proposed buy strategy, suggesting downward pressure on the GBPUSD pair. Prudent risk management measures should be employed to mitigate exposure to potential adverse market movements. Disclaimer: This analysis is provided based on current market conditions and historical price data. Traders are advised to conduct independent research and exercise caution, employing appropriate risk management techniques, before executing any trading decisions.
Long
by GODOCM
GBP/ USD ! 11/4! Resistance H1 SELL NOW ! not NEWS GBP/USD trend forecast November 4, 2024 The GBP/USD pair rises to around 1.2970 during Monday’s Asian session, aided by a weaker US Dollar (USD). The USD faces pressure after October's soft US Nonfarm Payrolls (NFP) data, supporting the pair's gains. Following a 50 bps rate cut in September that initiated the easing cycle, the US Federal Reserve (Fed) is expected to lower rates by 25 bps in its November meeting, with markets assigning a 97% probability to this move. The Dollar weakens as traders prepare for the US presidential election and the Fed’s rate decision this week. There was no USD and GBP news data at the beginning of the week, the price recovered and hit the H1 resistance, along with the 2nd GAP. DOWN to fill liquidity, stabilize the price trend during the week. /// SELL GBP/USD : zone 1.29970 - 1.30200 SL: 1.30500 TP: 60 - 120 - 200 pips (1.28200) Safe and profitable trading
Short
by Moon-ForexAcademy
6