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U.S. Dollar / Pound Sterling

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Market Analysis: GBP/USD Climbs BackMarket Analysis: GBP/USD Climbs Back GBP/USD is attempting a recovery wave above the 1.2600 resistance. Important Takeaways for GBP/USD Analysis Today - The British Pound is attempting a fresh increase above 1.2620. - There is a key bullish trend line forming with support near 1.2680 on the hourly chart of GBP/USD at FXOpen. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair declined after it failed to clear the 1.3000 resistance. As mentioned in the previous analysis, the British Pound even traded below the 1.2800 support against the US Dollar. Finally, the pair tested the 1.2500 zone and is currently attempting a fresh increase. The bulls were able to push the pair above the 50-hour simple moving average and 1.2600. The pair even climbed above the 1.2700 level. A high was formed at 1.2749 and the pair is now consolidating gains. There was a move below the 23.6% Fib retracement level of the upward move from the 1.2506 swing low to the 1.2749 high. On the upside, the GBP/USD chart indicates that the pair is facing resistance near 1.2720. The next major resistance is near 1.2750. A close above the 1.2750 resistance zone could open the doors for a move toward 1.2800. Any more gains might send GBP/USD toward 1.2880. On the downside, there is a bullish trend line forming with support at 1.2680. If there is a downside break below 1.2680, the pair could accelerate lower. The first major support is near the 1.2630 level and the 50% Fib retracement level of the upward move from the 1.2506 swing low to the 1.2749 high. The next key support is seen near 1.2600, below which the pair could test 1.2570. Any more losses could lead the pair toward the 1.2510 support. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
GBP/USD Analysis – 4H Bullish MomentumHello, Traders! 👋 Here’s my latest analysis of GBP/USD on the 4H timeframe. The chart presents compelling bullish signals that suggest a continuation of the upward trend after a potential retracement. Key Observations: 1️⃣ Bullish Divergence on RSI: - The 4H RSI displays a bullish divergence, indicating potential buying momentum as price action aligns with oversold conditions reversing upwards. 2️⃣ Market Structure Shift: - A clear shift in market structure supports bullish sentiment, confirming the likelihood of a continued rally after the retracement. 3️⃣ Retracement Zone: - The market is likely to retrace to the 1.2580 level, offering an optimal entry zone for buyers before the next leg upward. Target Levels: - Short-term: 1.2850 - Mid-term: 1.3000 - Long-term: 1.3450 Trade Plan: 🔹 Entry Zone: Look for bullish price action confirmation near the 1.2580 level. 🔹 Stop Loss: Place stops below 1.2505 to account for potential volatility. 🔹 Take Profit Levels: - 1.2850 - 1.3000 - 1.3450 Risk Management: Risk no more than 1-2% of your capital on this setup. Be patient and wait for retracement confirmations to enter long positions. Monitor the retracement to the 1.2580 level for potential buy entries, with targets scaling up to 1.3450. Let me know your thoughts and share your ideas below. Happy trading! 🚀 #Forex #GBPUSD #Bullish #TradingViewIdeas
Long
by Akshulive
1
GBPUSDThis pair has the potential to drop guys! This is due to how structures are developing. From the higher timeframe we see this price having such a potential, However we need to wait to see where the market will allow us to get in. Most traders lose their money due to lack of patience, they jump to the trade very early by just thinking that the market will move without them. The good thing is, Market always communicate before the momentum kicks in. Learn to be patient
Short
by Richard_Mkude
1
Could the Cable reverse from here?The price is rising towards the pivot which aligns with the 38.2% Fibonacci retracement and could drop to the 1st support which acts as a pullback support. Pivot: 1.2859 1st Support: 1.2616 1st Resistance: 1.3044 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
GBPUSD Short time strategy.It is difficult to enter the GBP with a neat waveform like the ones in textbooks, but since I am thinking of using the same strategy for the USD/pairs in general this week, I will post an idea 🙏. The monthly chart shows that the momentum of dollar selling that has continued since April this year is weakening due to the breakout of Monthly chart HL (---purple line M) and the trend line. On the weekly chart, the pound was bought back due to factors such as Thanksgiving, when the US market is not moving and liquidity is low, and the rebalancing at the end of the month (commonly known as the London fix), which I think overlaps with the movement based on the fact that corrections will occur if important support and resistance lines and zones are broken. On the daily chart, return high and the SR zone have been broken out vigorously by the candle leg, but it appears that dead cross MA is suppressing the momentum. on the 4 hour chart, It was actually held down once for 4 hours, and the second attempt was also held down and closed for weekend. Currently, it is moving above the 4-hour MA. Summary. Strategy. 1. Purple curved line. Long. A market pattern where the momentum of buying the GBP from last week remains. The daily chart will see some crrection pushed by dead cross MA on Monday, but it is thought that it will try to rise again from around the 4-hour MA to the purple dotted line. 2. Red curved dotted line. Short. A market pattern where the buying momentum is weak. Short when it breaks through the purple dotted line and returns. Price has Holding down by the weekly zone and daily MA. 3. Gray curved line. If the buying momentum on the daily chart does not stop, wait and see until the next zone, the gray line MSR, or take long position by touching the MA on the lower chart below 4 hours. Happy tradings.
by Nana-73
GBP/USD Weekly Analysis"On Monthly: Like other USD pairs, this one is Bearish too. After a Bearish Engulfing in October, it made a Doji that looks more Bullish than Bearish in the month of November. It seems it got stock between 1.28600 and 1.24800 which is 380 Pips. It stopped at 1.27500. I suspect it will go back up to 1.28600 before heading back down to 1.24800 at last. -- On Weekly: At this time frame we can see the uptrend towards Monthly trend line (RED) as it bounced back off of Daily trendline (Gray). It formed Morning Star and going up to 1.28600. All three EMAs 200, 50 and 20 are squeezed and easy to break one way or another. It seems very risky either Bullish or Bearish trade at this time frame. --On Daily: ""V"" shape reversal has been formed and it seems it's going back up. All three EMAs are Bearish. But it may continue Bullish up 1.28600 as it seems it has made a Head & Shoulders to bounce back down. -- On Hourly: On the contrary of Daily chart, it has made a multi-bottom formation for Bullish move. Let's see how the price will perform at 1.27500 Historical resistant. All three EMA's are Bullish and it's spreading open so far."
by Ha-Lion
GBPUSD is in the Buying Direction after Testing SupportHello Traders In This Chart GBPUSD HOURLY Forex Forecast By FOREX PLANET today GBPUSD analysis 👆 🟢This Chart includes_ (GBPUSD market update) 🟢What is The Next Opportunity on GBPUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts
Long
by ForexMasters2000
GBPUSD DOWN The Pound Sterling clings to earlier gains yet trades off the weekly highs, which reached around 1.2749 during the European session. At the time of writing, the GBP/USD trades at 1.2684, virtually unchanged.GBP/USD Price Forecast: Technical outlook Although the GBP/USD is set for weekly gains of over 1.2%, price action suggests Cable didn’t find acceptance above 1.2700, which could exacerbate a pullback toward the 1.2600 figure. In that outcome, the pair’s next support would be the November 27 daily low of 1.2564, followed by the November 26 low of 1.2506. On further weakness, the November 22 pivot low of 1.2486 is on the cards. Conversely, if GBP/USD finishes the week above 1.2700, this could pave the way for testing the 200-day Simple Moving Average (SMA) at 1.2818. However, buyers must clear the current week’s peak of 1.2749. Oscillators such as the Relative Strength Index (RSI) hint that buyers are gathering momentum, even though the RSI remains below its neutral line.
Short
by KingForex078
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by Safaric
GBPUSD - this closed above POC and we have 2 virgin impulse candles' VA that needs to be filled so based on just daily chart, it seems like price can go up to tag that VA and then drop down to POC. that will be my immediate bet. after that I will wait for price to settle down on either side of POC before making any decision. Origin - if we drop down to LTF and look at it, it seems like price is facing some resistance above from an older POC. if price moves up and holds above this nearest POC then I might see price moving all the way up to the HTF impulse VA.
by Osiris992