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U.S. Dollar / Pound Sterling

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USDGBP trade ideas

GBPUSD Holds Below 0.618 Fibonacci RetracementFollowing the DXY's decline, the British pound surged back above the trendline connecting lower highs between 2014 to 2021, aligning with a key resistance at the 0.618 Fibonacci retracement of the downtrend between the September 2024 high (1.3434) and the January 2025 low (1.2099) at 1.2945. Current Market Setup: RSI on the 3-day time frame is now overbought, aligning with the inverted head and shoulders target formed by the RSI trend near oversold levels, reinforcing reversal potential. Further downside risks persist, with market sentiment hinging on growth data, trade war developments, and US inflation figures. Key Levels to Watch: A decisive close above 1.2850 could pave the way toward 1.3020, 1.3160, and 1.34. Failure to hold gains could trigger a pullback toward key support zones at 1.28, 1.27, and 1.2570. Key Events This Week: US CPI UK GDP Trade War Developments - Razan Hilal, CMT
by FOREXcom
GBPUSD INTRADAY Bullish continuation supported at 1.2736The GBP/USD currency pair demonstrates a bullish sentiment, underpinned by the prevailing long-term uptrend. Recent intraday price action has displayed sideways consolidation, gravitating toward the breakout level and previous resistance. This movement potentially forms a bullish flag continuation pattern, suggesting a resumption of the upward trend. Key Support and Resistance Levels Support Level 1: 1.2736 (previous consolidation range and 50% Fibonacci retracement zone from the 28th February 2025 low to the 9th March swing high) Support Level 2: 1.2686 Support Level 3: 1.2600 Resistance Level 1: 1.3000 Resistance Level 2: 1.3050 Resistance Level 3: 1.3180 Bullish Scenario A corrective pullback from the current levels, followed by a bullish bounce from the 1.2736 support level, would reaffirm the bullish bias. This could set a potential upward trajectory targeting the 1.3000 resistance level, followed by 1.3050 and ultimately 1.3180 over a longer timeframe. Bearish Scenario Conversely, a confirmed breakdown below 1.2736 with a daily close beneath this level would invalidate the bullish outlook, indicating the possibility of further retracement. In this case, GBP/USD could test the next support at 1.2686, with an extended decline potentially reaching 1.2600. Conclusion The GBP/USD currency pair exhibits a bullish continuation setup, provided that the 1.2736 support level remains intact. A bounce from this level could trigger a move towards higher resistance zones. However, a breakdown below 1.2736 would shift sentiment to bearish, targeting lower support levels. Traders should monitor price action around these key levels for confirmation before executing positions. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
GBP/USD SHORT SETUPGBP/USD 1H - As you can see I have gone ahead and marked out exactly what I want to see from this market this week. I am expecting those short opportunities. In order for us to look to take this market short we first need to wait for price to break structure to the downside, as we know this tells us enough Supply has been introduced to flip the balance. It will also conclude the distribution that is currently taking place, once that happens I then want to see price pullback up, as always giving us an area to enter in from. I have marked out an area of Supply for us. You will also notice I have set my TP just above a level of Demand below, this is guarantee that our TP can actually be achieved without disruption. Just a case of being patient now and waiting for price to confirm.
Short
by Lukegforex
GBPUSD Retracing Before the Next Bullish Wave GBPUSD is currently experiencing rejection from a key resistance zone between the 0.5 to 0.618 Fibonacci retracement levels, around 1.288. This suggests that the pair is undergoing a healthy correction before resuming its bullish trend. A small retest to the downside could provide buyers with a better entry point before the next strong upward move. If support holds around 1.260, GBPUSD may gather momentum for another bullish rally. Fundamentally, the pair remains supported by recent market sentiment favoring the British pound. Positive economic data from the UK and expectations around the Bank of England's policy stance could provide further upside pressure. Meanwhile, the U.S. dollar's strength or weakness will also play a crucial role, particularly as traders anticipate upcoming Federal Reserve decisions and inflation data. Any signs of economic slowdown in the U.S. could push GBPUSD higher. From a technical perspective, traders should closely watch the 1.260 level as a potential retest zone. If this level holds, we could see renewed buying pressure targeting new highs beyond 1.288. A breakout above this resistance could accelerate gains, opening the door for further bullish movement. Keeping an eye on market volume and price action at key Fibonacci levels will be crucial for identifying the best trade opportunities.
Long
by AndrewsMarket-Mastery
2
GBP/USD Trading Idea for the DayBased on my chart analysis today, I anticipate a pullback to 1,2905 1.2875, or possibly 1.28351. where I may consider buying opportunities to aim for higher levels. The 1.2915 resistance is a strong level, and if broken, the next target will be 1.2950, where I plan to take some pips. It’s crucial to monitor economic announcements from Germany, as they will provide direction for today’s trading. Also, be cautious around 8:00 AM as volatility may increase.
by Titan_Pips
Fundamental Market Analysis for March 10, 2025 GBPUSDThe GBP/USD pair began the new week positively, trading at around 1.29400-1.29450 during the Asian session and matching the four-month high reached on Friday.The bearish sentiment surrounding the US Dollar (USD) supports the prospects of extending the momentum of last week's breakout above the significant 200-day simple moving average (SMA). The US Dollar Index (DXY), a measure of the USD against a basket of currencies, is approaching its lowest point since early November, a development that followed Friday's weak monthly US jobs data.The headline non-farm payrolls (NFP) data revealed that the US economy added 151,000 jobs in February, falling short of the consensus estimates. In addition, the previous month's data was revised downward to 125k and the unemployment rate unexpectedly rose to 4.1% from 4.0% in January.This comes amid fears that US President Donald Trump's policies will hit US economic activity, and suggests that the Federal Reserve (Fed) will cut interest rates several more times this year. Current market predictions indicate approximately three 25bp rate cuts this year, a development that persists in exerting pressure on the pound and thereby supporting the GBP/USD pairing.The remarks made by Federal Reserve Chairman Jerome Powell, in which he expressed that the US central bank has no intention of hastily reducing interest rates, did not provide any respite for those who advocate a strengthening of the dollar. Conversely, the British pound is bolstered by the anticipation that the Bank of England (BoE) will adopt a more gradual rate reduction approach compared to other major central banks, including the Fed.This dynamic is further fueling demand for the GBP/USD pair, underscoring a positive outlook.Absent significant market-moving economic data from the UK or the US, the US dollar is expected to exert influence on spot prices, enabling traders to capitalize on short-term opportunities. Trading recommendation: SELL 1.28900, SL 1.29500, TP 1.27800
Short
by Fresh-Forexcast2004