USDGBP trade ideas
GBPUSD at Weekly Support ZoneGBPUSD is at its weekly support zone where at the closing of the last week, Bulls gained their strength after a bearish setup. Now it is ready to Go Back as the Bullish Trend has been started.
Sell Idea on GBP/USDThe GBP/USD pair is showing bearish pressure after rejecting the resistance level at 1.2300. The formation of lower highs and the break below the 1.2200 support level indicate potential continuation of the downtrend.
🔹 Technical Analysis:
The 1.26000 level is acting as a strong resistance zone.
The RSI indicator is below 50, supporting bearish momentum.
🔹 Key Notes:
Ensure proper risk management with a risk-to-reward ratio of at least 1:2.
Watch for key economic events related to GBP and USD that could impact this pair.
This idea is for educational purposes only, and trading decisions are the responsibility of the trader.
GBPUSD SHORTWe remain strongly bearish on GBP/USD, and the pair is expected to continue its downward movement next week. USD news is likely to come in relatively strong, putting additional pressure on GBP/USD. Moreover, economic uncertainty in the UK, combined with the global geopolitical situation, is making GBP/USD even weaker. Last week, I highlighted that GBP/USD was heading lower while many anticipated an upward move. I see the same pattern unfolding this week. Stop trying to catch a reversal—stick to the trend and align with the fundamentals.
Is the pound losing its important support?Considering the resistance in the range of 1.2570, if this area breaks, we can expect that the range of 1.2685 will continue to rise. Otherwise, the support range of 1.2471 will be broken Expect to continue falling to the range of 1.2343
Looking to long GU and then short itGoing to long (counter-trend) GU after it closes past the 1H high, then comes back for the retest. Then later short it (trend)
TRADE OF THE CENTYURY we had a clear multi touch identification pattern on the supporting trend, price went up to create a running channel which is also on its third touch at support. the bullish momentum will be great as the dxy has also shown signs of a promising bearish move
GBP USDSell Entry on a Bullish Retracement: If the price rises to the 1.2570 - 1.2600 level (a potential resistance area close to the current price), you can enter a sell position.
Entry Confirmation: Wait for confirmation by a bearish candle closing on a smaller timeframe (such as 15 minutes or 1 hour) at this area.
Stop Loss:
Set the Stop Loss above the local resistance: The Stop Loss can be placed at the 1.2630 level. If the price breaks this level upwards, the potential downtrend might be reversed.
Targets (Take Profit):
First Target (TP1): At the 1.2480 level, which is close to the recent low.
Second Target (TP2): At the 1.2420 level, a deeper potential support level if the decline continues.
You can adjust the Stop Loss to the entry level after reaching the first target to ensure risk reduction.
GBP/USD "Trump Comeback Could Drive Dollar Strength"FOREXCOM:GBPUSD Analysis – What’s Coming Next & How Trump Could Affect the Dollar
Right now, FOREXCOM:GBPUSD is hanging around 1.25000, and we’re expecting a bit of a pullback from here. But there’s more going on—Trump’s possible return to office could have a big impact on the U.S. dollar and how the pair moves in the future.
Pullback from 1.25000 – Headed to 1.27000
The market is at a key spot around 1.25000, which has been a point where price often stalls. So, a pullback from here is pretty likely. After that, we could see the price rise to 1.27000 before it drops again. This is a good spot to catch a short-term bounce.
Target: 1.22000
Once we hit 1.27000, expect the price to start heading lower towards 1.22000. This is a big support level, so we might see some back-and-forth here. If it breaks 1.22000, though, we could see the price drop further.
Trump’s Comeback – U.S. Dollar Could Get Stronger
Now, here's where it gets interesting. If Donald Trump makes a comeback and gets back into office, it could really boost the U.S. dollar. In the past, his policies helped the economy by cutting taxes and lowering regulations, which made the dollar stronger. If he returns, there’s a good chance the Fed might raise interest rates, which would make the dollar even more attractive to investors.
If the dollar strengthens because of Trump’s return, FOREXCOM:GBPUSD could see even more downward pressure. In fact, we could see the pair drop not just to 1.22000, but even lower—1.20000 or 1.19000. Worst case, the pair could even go all the way down to 1.40000 if the dollar really takes off.
What If It Breaks 1.22000?
If 1.22000 doesn’t hold, we could see a big drop to levels like 1.20000 or even 1.19000. With Trump potentially driving the dollar higher, the move down could be stronger than expected.
Quick Recap
Pullback from 1.25000, possibly heading to 1.27000.
After that, we expect a drop to 1.22000.
If Trump comes back, the TVC:DXY could get stronger, and FOREXCOM:GBPUSD could go lower—maybe even to 1.14000.
If 1.22000 breaks, look for further drops to 1.20000 or lower.
So, in short, there’s a solid setup for a bearish move on FOREXCOM:GBPUSD , especially with the possibility of Trump’s return pushing the dollar higher.
Have a good trades everyone!
GBP/USD waiting for the exit Look at the formation of a chart pattern in this case it’s a ascending triangle in the 30 minute timeframe but we are currently on a bearish downtrend so what are we specking form this triangle a continuation or a reversal all the way to the upside ?
GBPUSD (USDGBP) - BROADENING WEDGE CHART PATTERNGBPUSD had broken out of the broadening wedge. We could see further momentum on PA to reach price objectives for broadening wedge. Will continue to look for SHORT scalps opportunity on every retracement till PO is met.
GBPUSD: Important Support & Resistance Levels Next Week 🇬🇧🇺🇸
Here is my latest structure analysis and important
support & resistance levels for GBPUSD for next week.
Consider these structures for pullback/breakout trading.
❤️Please, support my work with like, thank you!❤️
GBP/USD ShortTrade Analysis:
Before the London Stock Exchange opens, the bank steps in and pushes the market up (Bank 1).
After the opening, bank steps in (Bank 2) and pushes the market below the stakes of Bank 1.
To me, this shows that the market is going down.
I was waiting for zone 1 to enter the market because that's where the bank stepped in and there's money.
However, the bank decides to reinvest and pushes the market down again (marked with $) so I looked for an entry there.
On one minute, I see the bank exiting below the last retest order twice and I enter on the retest itself.
I'm currently in a trade and I've moved my stop loss to breakeven.
We'll see what happens next, my money is safe.
See you soon.
GBP/USD Hits 6-Month Low, Eyes ReboundHello,
FX:GBPUSD has reached its six-month low and is now poised for a potential rebound.
No Nonsense. Just Really Good Market Insights. Leave a Boost
TradeWithTheTrend3344
GBPUSDGBPUSD OUTLOOK:
The pound is on the HOTlist this week! We don't have an entry yet but will be on standby when the green light shows itself! If you are with us, you'll be ready. If there was a time for a buy limit there would be a chance in the 1.231-1.218 area.
Snipers in position:)
Stay frosty!
GBPUSD SHORT TO $1.24300 (UPDATE)Well done to everyone who got into GU sell's from my analysis yesterday! GBPUSD is now running 95 PIPS in profit so far & inching closer to out TP which should hit early next week📉
GBPUSD Wave Analysis 22 November 2024
- GBPUSD broke support zone
- Likely to fall to support level 1.2465
GBPUSD currency pair recently broke the support zone located between the support level 1.2620 (former monthly low from June) and the support trendline of the daily down channel from September.
The breakout of this support zone accelerated the active minor impulse wave 3 of the higher impulse wave (C) from the start of November.
Given the strongly bullish US dollar sentiment seen today, GBPUSD currency pair can be expected to fall further to the next support level 1.2465, former monthly low from May and the target for the completion of the active impulse 3.
GBPUSD SHORT: USA SERVICES PMI HIGHER THAN EXPECTEDS&P global Services PMI 57.0 versus 55.2 estimates. Looking to short this pair.
GBPUSD Short and Longs (News) Scenario 1: Both PMIs Better than Forecast
Actual Manufacturing PMI: 49.5 (Better than 48.8 forecast)
Actual Services PMI: 56.0 (Better than 55.2 forecast)
EUR/USD: Down - If both sectors perform better than expected, this might signal a stronger US economy, potentially leading to a stronger Dollar.
GBP/USD: Down - Similar to EUR/USD, a stronger US economic outlook could weaken GBP against USD.
USD/JPY: Up - Improved US PMI data might strengthen USD against JPY, especially if this leads to expectations of a tighter Fed policy.
Scenario 2: Both PMIs Worse than Forecast
Actual Manufacturing PMI: 48.0 (Worse than 48.8 forecast)
Actual Services PMI: 54.0 (Worse than 55.2 forecast)
EUR/USD: Up - If both sectors disappoint, this could indicate economic weakness in the US, leading to a weaker USD.
GBP/USD: Up - Weaker US data might make GBP relatively stronger, especially if UK economic indicators are not as disappointing.
USD/JPY: Down - A disappointing PMI might lead investors to question the US economic recovery, potentially weakening USD against JPY.
The Fib is just an example if we was to see a sell off it may come into play. If we not seeing a sell off the Fib will be non existent.
trend gbpusd#gbpusd
Will the pound dollar continue its downward trend?
The downward trend is strong.
The upcoming support ranges are 1.2440 and 1.2350.
The resistance range is 1.2630.
As long as it does not break its downward trend line, it will not succeed in breaking the downward trend.
GBPUSD possible re-entry for shorts.Following the massive sell-off yesterday, was looking to continue the sell just above today's open. Unfortunately, price hit the 1.25100 psychological level with a massive sell-off during the London session. I believe we might get a reentry at the imbalance around 1.25400, especially if the US PMI data comes in strong. Planning to sell at this level with a target of hitting London's low again."
Chart Annotations:
- Today's Open
- Sell-off to 1.25100
- Imbalance at 1.25400
- Potential Sell Entry at 1.25400
- Target London Low
