GBPUSD_SPT trade ideas
GBPUSD: Bullish Reversal ConfirmedThe GBPUSD is displaying a bullish trend on both the daily and intraday charts. The daily chart indicates a breakout above a resistance line within a broad horizontal channel, signaling a trend reversal.
On the 4-hour chart, a retest of the previously broken resistance line within the channel is evident, followed by a strong bullish move and a change in character (CHoCH).
I expect the market to continue its upward momentum, with the next resistance target at 1.3048.
The downward tend of GBPUSD has reversedThe downward tend of GBPUSD has reversed
The downward trend of GBPUSD has been broken,
and the oscillation area has been broken as well.
Therefore, continue to buy GBPUSD around 1.2997
SL: Below 1.2965
TP1: 1.3065
TP2: 1.3155
GBPUSD BUY ANALYSIS PYCHOLOGICAL LEVEL ZONEHello Trader , What do you think about GBPUSD? Here on Gbpusd price has reached a psychological level of 1.30000 and now making double bottom which means it will go up more so trader should look for LONG and expect profit target of next psychological level. Remember to like and share your thought on comment !
GBPUSDD- closed above 4 days range
4h- Inverted H&S / Double bottom- broke neck line and retested
61.80% FIB / TL 3rd touch can be a better entry
GBP/USD Brief UpdateGBP/USD is currently recovering from the lows due to the weakening USD amid market expectations that the Fed will pause its rate hike. However, the pair is still moving cautiously around 1.3000 in the European session on Wednesday, as traders await key releases: the UK Autumn Budget, the US ADP jobs data, and the Q3 Preliminary GDP report due later in the day.
On the technical chart, the support level of 1.2970, defined by the 34-day EMA, remains as a stable pivot. At the same time, the recent bearish wedge breakout is reinforcing the uptrend, suggesting that buyers are in control in the medium and long term. Victor expects that, in the short term, GBP/USD will continue to move upwards with the next targets on H1 at 1.3050 and 1.3100.
Get ready for the wave and good luck trading!
GBP/USD - Trade Plan and StrategyThe British Pound (GBP) against the US Dollar (USD) on the 1-hour timeframe has been following a bearish trend, as evidenced by the trendline and the formation of consecutive lower highs (LH) and lower lows (LL). However, the trend appears to be reversing, as the price has broken above the bearish trendline and has started forming higher highs (HH) and higher lows (HL), suggesting a potential shift to an uptrend.
Trade Plan: The plan is to enter a long position if the price breaks above the second higher high (HH) level, signaling a confirmation of the trend reversal. The entry price is set at 1.30205, with a risk-reward target ratio of 1:2. The stop-loss level is set at 1.29575 to manage downside risk, while the take-profit levels are positioned at 1.30830 (TP1) and 1.31460 (TP2).
GBPUSD: Confirmed Bullish ReversalThe GBPUSD appears to be showing a bullish trend on both daily and intraday charts.
The daily chart shows a breakout of a resistance line in a wide horizontal channel, as well as a reversal in the trend.
On the 4-hour chart, there is a retest of a previously broken resistance line in the channel, followed by a strong bullish movement and a change in character.(CHoCH)
I anticipate the market will continue to rise, with the next resistance level at 1.3048.
GBPUSD 1hIn the gbpusd currency, we see the breaking of the trend line and continue to climb up to the price of 1.30600
GBP/USD: Will NFP Make the Dollar Drop?GBP/USD weakens around 1.3010 during the European session on Wednesday, staying within a descending channel since September, as the market awaits key economic data, including the UK Autumn Budget, October’s ADP Employment Change, and US Q3 GDP. A close above 1.2975 could attract buyers, pushing the price toward 1.3050, while support remains at 1.2895. The pound remains vulnerable to potential negative economic surprises or restrictive fiscal measures announced in the Budget, as indicated by Prime Minister Starmer, which could increase volatility. Positive US economic data, especially on employment and growth, could strengthen the dollar and further push GBP/USD lower. I am currently long on GBP/USD from last week, aiming for a 1:4 RR. Currently, I'm at a 1:2 RR with SL at BE, so risk-free. Have a great day and happy trading, everyone!
GBPUSD Short IdeasHi Guys,
From my pov, i see that we still cannot go long with xxx/usd pair. For me i will take a shot for this short then long after market forming a better setup
GBPUSD BUY NOW!!!!!!!GBPUSD completed +33pips from our yesterday calls today we have falling wedge pattern breakouts printed on a 2h time frame am gonna be looking for buys once price made a strongly rejections from the supply zone then am going to be holding from there till we arrive at 1.31 area
JOIN AND ENJOY
Tell us your views on this...........
GBPUSD BuyAfter completing the first five impulsive waves we anticipate a correction to 61.8% levels to complete wave 2 for the next impulsive.
GBPUSD H4 | Bullish Bounce Based on the H4 chart analysis, we can see that the price is falling to our buy entry at 1.2988, which is a pullback support.
Our take profit will be at 1.3039, a pullback resistance that aligns with the 161.8% Fibonacci extension
The stop loss will be placed at 1.2946 which is a support level.
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gbpusd market out lookuuing the path tool and the concept of trends in collaboration with the concept of support an resistance i broke down this gbpusd pair and in conclusion we just hav to see price reaction from where it presently is at the moment
BoE's plans for additional rate cuts are in conflict
Expectations are mounting that the BoE would implement additional rate cuts. BoE Governor Andrew Bailey has stated that inflation is decreasing more rapidly than anticipated. The UK CPI for September registered at 1.7%, falling short of the central bank's 2% target, which has intensified speculation about upcoming rate increases. Wall Street is convinced that with UK inflation already below the target, there's a strong likelihood of additional rate cuts in November and December following the recent 25bp reduction.
However, there are concerns regarding the potential aftereffects of hasty rate cuts. BoE economist Catherine Mann emphasizes that, despite a general slowdown in inflation, service price inflation continues to soar. She warns that an impulsive rate hike could reignite inflationary pressures.
GBPUSD advanced to the 1.3000 threshold. After breaching the descending channel’s upper bound, the price holds above both EMAs, signaling a trend reversal. If GBPUSD breaches the resistance at 1.3045, the price may gain upward momentum toward 1.3265. Conversely, if GBPUSD fails to hold above both EMAs, the price may break the channel’s upper bound again and re-enter the descending channel.
GBPUSD LONGGU has shown potential signs of reversal. It has created higher highs on the 4HR time frame. The DXY has also shown potential weakness to end this monthly candle.
Wed 30th Oct 2024 GBP/USD Daily Forex Chart Buy SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a GBP/USD Buy. Enjoy the day all. Cheers. Jim
GBP/USDit is very amazing chart 1H frame it has penetrated down channel and has maked reversible head$shoulders
it is supported by up trend
it has Target 1 between (1.30880_1.31031)
Target2 (1.31573_1.31718)
Stop loss closing below 1.29355
GU look like it setting up for a nice entry for London sessionI been looking for a solid sell entry to continue the bearish trend that GU has been in. The dollar failed to break out and is now retracing to grab more liquidity to push up. in turn giving us a nice entry for a sale. We have to be patient and allow price to find its resistance levels. Expecting a nice set up for London.
gbpusd longdxy has made a long bullish move that has fall the gbpusd from risstance, now there is a retracement from dxy is expected so the gbpusd has bonced from its trendline support of 4h . so its time to palce a buy stop at its one of the lh to be break and then ente rinto this for a long ride
Potential bullish rise?GBP/USD has reacted off the support level which is a pullback support that aligns with the 23.6% Fibonacci retracement and could rise from this level to our take profit.
Entry: 1.3000
Why we like it:
There is a pullback support level that lines up with the 23.6% Fibonacci retracement.
Stop loss: 1.2976
Why we like it:
There is a pullback support level that lines up with the 61.8% Fibonacci retracement.
Take profit: 1.3053
Why we like it:
There is a pullback resistance level.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
GBPUSD Down trend continuationLooking to continue downward trajectory as we pull back into the order block.
