GBPUSD SHORTLooking to short GBPUSD as price continues to decline on higher TF area, slight retracement for sell opportunity as i look to make entry @1.29918 and ride with the trend.. Fingers crossed..
GBPUSD_SPT trade ideas
GPB/USD continues the downtrendOn GBP/USD , it's nice to see a strong sell-off from the price of 1.30045 and 1.30210. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated.
I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again.
The downtrend combined with the strong volume area are my main reasons for this short trade.
Happy trading,
Dale
GBPUSD inverted head and shoulder patternIntraday Update: The GBPUSD is setting up an inverted head and shoulder pattern in a descending channel. A break of 1.3000 would be bullish.
GBPUSD - BUY GBPUSD is moving in a descending channel and recently took support from 1.29090 and now the INVERSE HEAD and SHOULDER pattern is in play.
We will wait for fresh entry at BREAKOUT of the Inverse HEAD and SHOULDER pattern, a confluence of descending channel breakout.
GBPUSD Is Going Up! Long!
Take a look at our analysis for GBPUSD.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 1.296.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.306 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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GBPUSD plan analysis week 44🌐Fundamental Analysis
In the absence of high-impact macroeconomic data and fundamental drivers, GBP/USD may react to changes in risk sentiment on Monday. On Wednesday, the UK government will present its Autumn Budget. The US economic calendar will also feature important data releases in the second half of the week.
The US Bureau of Economic Analysis will release the first estimate of annualized Gross Domestic Product (GDP) growth for the third quarter on Wednesday and release the Personal Consumption Expenditures Price Index (PCE) figures for September on Thursday. Finally, the US Bureau of Labor Statistics will release October labor market data on Friday.
🕯Technical Analysis
GBPUSD is trading within a bearish channel, and to break out of this channel, GBPUSD must trade above 1.3000. The areas of interest for next week are 1.31000 and 1.28200. This is the trading range for the week. Next week there is Nonfarm news pay attention to the further port area at the further support resistance area around 1.322-1.270.
GBP/USD Giving Amazing Bullish P.A ,Let`s Buy It To Get 200 PipsWe have many bullish price action in this pair , we have head and shoulders reversal pattern and we have a very good breakout for our old res and we have 2 retest to the same support and the price played perfect with it and now the price above our support , so i think it will be a great chance to buy it if the price retest the same support again or if the price continue without retest we can enter after the price close above neckline for the pattern with 4h candle .
This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
GBPUSD Sell UpdateI took the GBPUSD after the rejection.
Example on how to take after rejection on the candle stick.
This will help you to avoid losing trade and get a better entry.
Refer back my previous analysis in GBPUSD.
GBP/USD Outlook: Navigating Recent Trends and Upcoming EventsAfter a brief rally that saw GBP/USD rise above the 1.3000 mark on Friday, the pair lost momentum and closed the day marginally lower. As of Monday morning, GBP/USD remains relatively quiet, trading sideways above the 1.2970 level. This stagnation reflects a broader market reaction to various economic signals and upcoming events.
Impact of US Treasury Bond Yields
The recent increase in US Treasury bond yields has provided substantial support for the US Dollar, contributing to the reversal of GBP/USD's earlier gains. As investors flocked to the dollar, the pair's upward trajectory was curtailed. Additionally, the rise in US stock index futures, which increased between 0.5% and 0.7%, indicates a growing risk appetite among investors, further amplifying the dollar's strength.
Potential for Bearish Impulses in GBP
Given the current market conditions, there is a possibility of a bearish impulse for the GBP. Should risk flows dominate the financial markets after Wall Street opens, the USD may face renewed selling pressure. However, the demand areas could become the next target for sellers, suggesting that the GBP might struggle to maintain its upward momentum in the short term.
Upcoming Economic Events
Looking ahead, the UK government is set to present its Autumn Budget on Wednesday, which could have significant implications for GBP volatility. Market participants will closely monitor the details of the budget for potential fiscal measures that could influence the economy. Meanwhile, the US economic calendar is also packed with key data releases in the latter half of the week, adding further complexity to the market dynamics.
Technical Analysis and COT Insights
From a technical standpoint, the Commitment of Traders (COT) report offers valuable insights. Retail traders remain predominantly bearish, while "smart money" is beginning to build long positions. This divergence in sentiment can create opportunities for traders, particularly if the price reaches identified demand areas.
For those looking to capitalize on potential movements, it may be prudent to consider long positions only when the price approaches these demand zones. This strategy aligns with risk management principles and may enhance the likelihood of favorable trade outcomes.
Conclusion
In conclusion, the current landscape for GBP/USD is characterized by a complex interplay of economic indicators, market sentiment, and upcoming events. As the pair navigates the immediate challenges, traders must remain vigilant and adaptable. Monitoring both the US and UK economic calendars, along with key technical levels, will be essential for making informed trading decisions.
What are your thoughts on the potential movements of GBP/USD in the coming days, and how do you plan to position yourself in this evolving market?
GBPUSD**GBPUSD:**
This week's forecast is for the price to fall, break through the channel and reach the key levels below.
GBPUSD switching trends On GBPUSD we still in a bullish trend but anytime things can swicth up as we are wrapping the month and in NFP week , we expect the dollar to weaken abit this will push XXXUSD pairs up , but lets just wait and see how things unfold
Instant Sell Overall still Sell Trend.
Taking a Sell now as the market testing the Asia High of Monday open.
GBPUSD BUY OPPORTUNITYGBPUSD BUY OPPORTUNITY
The downward trendline of GBPUSD
has been broken, and formed a new
supply zone at 1H and 4H chart.
Therefore, buy GBPUSD when the price pull
back around 1.295
SL: Below 1.2935
TP1: 1.299
TP2: 1.203
SELL!!! GBPUSD HAS HAD A REJECTION IN THE DAILY INTEREST ZONEHELLO TRADERS I WISH YOU A SUCCESSFUL WEEK, GBPUSD IS THE FIRST PAIR I AM INTERESTED IN SELLING FOR THIS WEEK.
TECHNICAL ANALYSIS
CONFLUENCES FOR SELLING AT THIS MOMENT
1.- weekly time frame bearish
2.- daily time frame bearish
3.- 4-hour time frame bearish
4.- rejection of the last daily structure point
5.- rejection of the daily interest zone
6.- daily rejection candle
7.- we are at the last point of the 4 Hr structure
Why do I like it?
The weekly time frame is bearish, the daily time frame is still bearish and the 4-hour time frame is bearish, which gives me a total of 3 time frames in tune, so the most logical thing is to look for sales.
The price has rejected the previous daily lowest low (note the lowest low from October 16 to 21), and in turn it is a weekly and daily interest zone that has been rejected repeatedly in the past.
There is a daily rejection candle (look at the bearish candle of October 25th).
The price is retesting the lowest low of the 4-hour time frame.
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GBP/USD Today: Short Term Trend ForecastHello dear friends, a new week has come, wish you lots of energy!
Currently, the GBP/USD exchange rate is fluctuating around 1.2965 and performing well in the downward price channel on the 1-hour chart.
The main reason is that the market is witnessing economic stability in both the UK and the US, as retail sales in both countries exceeded expectations, indicating quite strong consumer spending. In addition, inflation in the UK has dropped to 1.7%, below the Bank of England's target, increasing the possibility of a rate cut in the near future, directly affecting this currency pair.
Wishing you successful trading and good luck in the market!
GBPUSD entry analysisGBPUSD Analysis
After outperforming its rivals in the first half of the week, the US Dollar (USD) lost some of its strength on Thursday, with the US Dollar Index down 0.4%. The positive shift in risk sentiment made it difficult for the USD to find demand, while falling US Treasury yields further weighed on the currency.
The September Durable Goods Orders and the October University of Michigan (UoM) Consumer Sentiment Index will be on the US economic calendar on Friday. The UoM data is unlikely to cause a reaction as it will be a revision. If Durable Goods Orders unexpectedly rise, the initial reaction could support the USD. On the other hand, a worse-than-expected reading of -1% could hurt the currency and allow GBP/USD to move higher towards the end of the week.
Meanwhile, US stock futures were last up 0.1% to 0.2%. A bullish open on Wall Street could attract risk-on money and weaken the USD further in the second half of the day.
Technical Analysis
GBPUSD BUY entry is set around the current price zone with a Fibonacci retracement of 0.618. The current price zone is expected to capture the end of wave 2 and form a breakout point for wave 3 according to the Elliot wave pattern. Wish you a successful trading day.
GBPUSD BUY STOP ORDER!!!!!!!!GBPUSD have been moving and respecting the liquidity zones and picturing the falling wedge pattern am looking forward to see GBPUSD price take out the previous HL for a buying opportunity entry so am keeping limit buy stop order at 1.3000 hoping to get automatic entry from there.........
Lets know your take on this...........
GBPUSD M15 Impulse Up.As explained in detail in the free weekly outlooks , check it out for the complete picture!
M15 looking for 5 up.
Looking for buy setups against the invalidation point on the lower timeframes, targets on the chart.
Good luck and trade safe!
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GBPUSD : Continue to prioritize sales strategy!The GBP/USD pair continued its decline, reaching around 1.2945 during early Monday trading. The U.S. dollar strengthened amid expectations that the Federal Reserve may take a less aggressive approach to policy easing, which pressured the pair downward.
GBPUSD may fall to 1.280In the 4-hour chart, GBPUSD is currently running below the downward trend line, and the bearish trend is dominant. At present, attention can be paid to the resistance near 1.300. If the rebound is not broken, it is expected to continue to fall. The support below is around 1.287. After breaking, the support below is around 1.280.
28 Oct -1 Nov GBPUSD IdeaMore confluence for Long on GBP compere with EURUSD. Anyway need additional confirmation base on character of London Opening
Fundamental Market Analysis for October 28, 2024 GBPUSDThe GBP/USD pair started the new week on a weaker note and is trading around 1.29600-1.29550. Spot prices, however, remain within striking distance of the lowest level since August 16, near 1.29000 reached last week, and appear vulnerable to an extension of the month-long downtrend amid a bullish US Dollar (USD).
On Friday, the U.S. Census Bureau reported that U.S. Durable Goods Orders fell 0.8% in September, which was slightly better than expectations of a 1% decline. Additional details of the report showed that new orders excluding transportation costs rose 0.4% in the reporting month. In addition, the University of Michigan's consumer sentiment index hit a six-month high of 70.5 in October, which was better than both the preliminary result and the previous month's reading.
This data supports the view that the Fed will continue to moderate rate cuts throughout the year, which in turn triggers a new rise in US Treasury yields and continues to support the dollar. The British Pound (GBP), on the other hand, is weakened by rising bets on further interest rate cuts by the Bank of England (BoE) in November and December, backed by a drop in the UK Consumer Price Index to its lowest level since April 2021 and below the central bank's 2% target.
The aforementioned fundamental backdrop suggests that the path of least resistance for the GBP/USD pair lies to the downside. Even from a technical perspective, recent repeated failures near the psychological 1.30000 mark support the prospects of a continued decline from the 1.34350 area, or the highest level since February 2022, reached last month.
Trading recommendation: Trade predominantly with Sell orders from the current price level.
