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U.S. Dollar / Pound Sterling

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USDGBP trade ideas

GBP/USD: Flat Wave 2 Sets Stage—Will Wave 4 Zigzag or Triangle?Hello fellow traders! Dive in to explore our quick take on GBP/USD’s Elliott Wave action—happy trading! Wave 1 & Wave 2 The initial leg up (Wave 1) established the start of an impulse. Wave 2 appears to have formed a flat correction—a relatively sideways pattern characterized by three sub-waves (A-B-C), where Wave B can sometimes move slightly beyond the start of Wave A. The flat structure in Wave 2 set the stage for a strong Wave 3 advance. Wave 3 Typically the most powerful and extended wave in an impulse, Wave 3 pushed prices higher in a clear, sustained trend. Fibonacci extensions often confirm Wave 3’s prominence, with price sometimes reaching 161.8% or more of Wave 1. Wave 4 Following Wave 3, a corrective Wave 4 is unfolding. Because Wave 2 was a flat, the principle of alternation suggests Wave 4 could take a different shape, such as a zigzag (A-B-C) or a triangle. Currently, the structure hints at a zigzag (a more vertical three-wave pattern), but there’s also a possibility of a triangle if price consolidates in converging trendlines. Wave 4 triangles are fairly common, especially when they alternate with a flat in Wave 2. Potential Outcomes for Wave 4 Zigzag Completion: If the corrective phase remains a zigzag, we’d look for a clearer three-wave structure (A-B-C) to complete near typical retracement levels (e.g., 38.2% or 23.6% of Wave 3). Triangle Formation: If the market continues to range and create overlapping waves, watch for lower highs and higher lows converging into a triangle. This pattern could prolong Wave 4’s duration before the final Wave 5 upswing begins. Wave 5 Outlook After Wave 4 concludes, look for Wave 5 to emerge. Targets often use Fibonacci projections—e.g., measuring Wave 5 against the length of Wave 1 or against the net distance of Waves 1+3. A common extension is the 61.8% or 100% projection of (Wave 1 + Wave 3), which can help identify potential price levels for Wave 5’s completion. Key Takeaways The broader picture shows an impulsive five-wave move in progress. Wave 2 being flat suggests Wave 4 is likely to be a different pattern (zigzag or triangle), aligning with the principle of alternation. If Wave 4 forms a triangle, it may extend the corrective phase, but the ensuing Wave 5 rally often emerges strongly once the triangle completes. Monitoring Fibonacci retracements and extensions will be crucial to pinpoint likely support for Wave 4 and resistance targets for Wave 5. As always, monitor price action and confirm the wave structure with technical indicators or additional confluence before taking a trading position.
Long
by TheSignalService
GBP/USD Strategy for European and American Trading SessionsGBP/USD news: 🔆GBP/USD eased after hitting a two-month high of 1.2674 on Friday, hovering around 1.2670 in Asian trade. However, the pair maintained its strength as the US dollar remained under pressure due to weak jobless claims data and mixed signals from the Federal Reserve. 🔆Minutes of the Fed's January policy meeting showed that some policymakers viewed potential changes in trade and immigration policies as obstacles to deflation, putting pressure on the dollar. 🔆During the Asian session, the yield on the 10-year US Treasury note fell below 4.5%, reducing demand for the dollar and allowing GBP/USD to rise. 🔆As the European session begins on Friday, the UK Office for National Statistics will release January retail sales data. Personal opinion: 🔆Good economic news for the Pound continues to maintain the strength of GBP. In contrast to the bad news from Trump's tariff policy, the dollar has weakened. However, FM believes that there will be a pullback phase as the RSI is diverging after entering the overbought zone earlier. GBP will consolidate and rise again. Technical analysis: 🔆Based on important resistance - support and Fibonacci levels combined with economic information to come up with appropriate strategies. Plan: 🔆 Price Zone Setup: 👉BUY GBP/USD 1.2620 – 1.2635 ❌SL: 1.2575 | ✅TP: 1.2670 – 1.2720 – 1.2800 FM wishes you a successful trading day 💰💰💰
Long
by FM-ForexMastermind
1
GBPUSD H1 I Bearish ReversalBased on the H1 chart, the price is approaching our sell entry level at 1.2654, an overlap resistance that aligns with the 61.8% Fibonacci retracement. A rejection at this level could drive prices lower toward our take profit at 1.2616, an overlap support. The stop loss is set at 1.2691, positioned above the previous swing high, providing sufficient room for fluctuations while ensuring the bearish setup remains valid. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (fxcm.com/uk): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (fxcm.com/eu): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (fxcm.com/au): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at fxcm.com/au Stratos Global LLC (fxcm.com/markets): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
GBP/USD: Bullish Momentum Faces Key ResistanceGBP/USD has reached its highest point since mid-December at 1.2690, primarily driven by the weakness of the US dollar. The pair has shown strong momentum, and as long as it holds above the key support at 1.2520, analysts see potential for further upside toward 1.2725. Positive UK economic data, including better-than-expected retail sales and inflation figures, have reinforced a bullish outlook for the pound. However, minor retracements have been observed, with slight declines following recent gains, such as the 0.05% drop on February 24. Market volatility remains a factor, with geopolitical tensions and fluctuating commodity prices impacting the dollar’s strength. From a technical standpoint, the price is currently testing a resistance zone while approaching key moving averages, which could act as dynamic resistance. The presence of supply zones above suggests that the pair could face selling pressure before a potential continuation higher. If the price fails to sustain above the resistance area, a retracement toward the 1.2520 level and possibly deeper into the 1.2400 region could materialize. Despite the recent bullish momentum, caution is warranted due to broader market uncertainties, and future movements will depend on economic indicators from both the UK and the US, as well as overall market sentiment.
Short
by EdgeTradingJourney
1
GBPUSD 1HOUR CHART TECHNICAL ANALYSIS NEXT MOVE POSSIBLE This GBP/USD 1-hour chart suggests a bearish trade setup based on liquidity concepts and market structure. Here’s the breakdown: 1. Bearish Rejection Zone – Price is approaching a key resistance level (1.26555) and is expected to struggle there before dropping. 2. Liquidity & Order Blocks – The chart shows buy-side and sell-side liquidity areas, suggesting market makers may manipulate price before a move. 3. Market Structure Shift (MSS) – A bearish MSS is marked, signaling a potential downtrend confirmation. 4. Fair Value Gaps (FVG) – These imbalances indicate areas where price might retrace before resuming downward. 5. Target & Stop-Loss – The take-profit is near 1.25931, while the stop-loss is at 1.26702, ensuring proper risk management. Trade Idea A short entry is expected after price retests resistance. If rejection happens as anticipated, a downward move could follow. Would you like a caption for your post based on this setup?
Short
by DavidHills110
2
Weekly Forex Market Analysis:GBPUSD– Issue 200The analyst predicts that the GBP/USD rate will increase within the time specified on the countdown timer. This prediction is based on a quantitative analysis of the price trend ___Please note that the specified take-profit level does not imply a prediction that the price will reach that point. In this framework of analysis and trading, unlike the stop-loss, which is mandatory, setting a take-profit level is optional. Whether the price reaches the take-profit level or not is of no significance, as the results are calculated based on the start and end times. The take-profit level merely indicates the potential maximum price fluctuation within that time frame.
Long
by MoonriseTA
GBPUSD: Short Setup at Key ResistanceOANDA:GBPUSD is nearing a key supply zone that has been a critical area for bearish reversals in the past. The current price action suggests sellers may regain control at this resistance level. If bearish patterns appear, such as long upper wicks or bearish engulfing candles, I anticipate a move toward 1.25890. However, if the price successfully breaks and holds above the zone, this would invalidate the bearish outlook and might indicate further upside. Proper risk management is essential, given the possibility of price breaking higher. Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management!
Short
by TrendDiva
5
Elliott Wave Analysis of GBP/USD 1. Market Structure Overview Motive & Corrective Waves: Wave (A) represents an impulsive 5-wave decline. Wave (B) is a corrective A-B-C structure, forming an expanding triangle. Wave (C) appears as an ending diagonal, terminating near the 61.8%-78.6% Fibonacci retracement level, signaling potential reversal Triangle in Wave (B) (1992-2007) suggests a prolonged consolidation. Wedge formation in Wave (C) indicates selling exhaustion, reinforcing reversal potential. 2. Current Market Outlook Reversal Potential: Price has reached a critical Fibonacci retracement support zone. Ending diagonal completion aligns with a potential bullish reversal. Bullish Projection: If confirmed, price could target 2.5000 or higher in the long term. 3. Trading Strategy Considerations Entry Strategy: Look for bullish confirmation near the retracement zone (e.g., bullish engulfing candle, RSI divergence). Risk Management: Place a stop-loss below 1.1000 to mitigate risks. Long-Term Target: 2.5000+ based on Elliott Wave projection. Pro.ALLY MUGABO
Long
by ElliotWaveUnite
GBP/USD Wedge Breakout (24.2.25)The GBP/USD Pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent Formation of a Wedge Breakout Pattern. This suggests a shift in momentum towards the downside in the coming hours. Possible Short Trade: Entry: Consider Entering A Short Position around Trendline Of The Pattern. Target Levels: 1st Support – 1.2567 2nd Support – 1.2515 🎁 Please hit the like button and 🎁 Leave a comment to support for My Post ! Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI_TA_TRADING Thank you.
Short
by KABHI_TA_TRADING
13
GBPUSD A Bearish Shift in the MakingThe chart highlights a key overhead resistance (red line). Price has tested this level and appears to be struggling to break above it decisively. This resistance zone is likely attracting sellers who are defending it vigorously. After failing to break above the resistance, the market seems to be forming a lower high. This shift in structure can be an early warning of a bearish reversal, as buyers lose momentum and sellers begin to gain control. The blue horizontal line marks a significant support zone. The chart’s projected path indicates a potential move down toward this area, suggesting that sellers might push the price lower if immediate support levels fail to hold.
Short
by TopGBanks
The Power of a Trading Journal: Key to Consistent SuccessHave you ever pondered what distinguishes successful traders from those who struggle for consistent profits? One key tool, often underestimated, is the trading journal. Both research and practical experience demonstrate that traders who diligently track their performance and critically assess their decisions tend to enhance their trading skills and overall results over time. While financial markets can seem erratic, a well-maintained trading journal can provide clarity regarding your trading behavior and highlight areas ripe for improvement. Understanding the Trading Journal At its core, a trading journal serves as a comprehensive record of your trades, detailing every decision and its corresponding outcome. However, it goes beyond a mere tally of wins and losses; it acts as a robust instrument for self-reflection and growth. By keeping an organized log, traders can identify recurring patterns, refine their strategies, and cultivate greater discipline in their trading practices. In essence, a trading journal empowers you to track your performance while offering meaningful insights for informed decision-making. What Constitutes a Trading Journal? A trading journal is a personalized record of your trading journey designed to document every aspect of your experiences. Unlike a basic transaction log, it encompasses insights into your decisions, emotional states, and strategies, thereby providing an in-depth perspective on your trading habits and performance over time. This journal functions as a roadmap, enabling you to analyze your actions, learn from missteps, and recognize successful patterns to replicate in future trades. Essential Components of a Trading Journal 1. Trade Details: Log fundamental information for each trade, including the date, instrument, entry and exit points, position size, and the outcome. 2. Trade Analysis and Rationale: Capture the reasons behind each trade, such as market analysis, utilized indicators, or significant news events influencing your decision. 3. Emotional Insights: Document the emotions felt before, during, and after each trade, which will help you identify emotional triggers impacting your decision-making. 4. Results and Lessons Learned: Reflect on the trade’s outcome and the insights gained. Did it align with your expectations? What could be improved next time? By consistently maintaining these entries, your trading journal will allow for systematic performance tracking, enabling you to conduct insightful trade analysis and continuously enhance your trading methodology. The Key Benefits of a Trading Journal Maintaining a trading journal provides numerous benefits that can significantly elevate your trading performance over time. From honing decision-making skills to fostering emotional discipline, a trading journal is an invaluable asset for anyone committed to enhancing their trading approach. 1. Enhanced Decision-Making: Analyzing past trades enables you to discern patterns in your decision-making process, both successful and otherwise. You might uncover that certain strategies work better under specific market conditions or that impulsive trades frequently lead to losses. Understanding these patterns grants you valuable insights for making informed, calculated choices in future trades. 2. Improved Emotional Control: Trading often involves a rollercoaster of emotions, with factors like fear and greed skewing decision-making. Documenting your feelings during trades can help you identify emotional triggers and develop strategies to manage them, maintaining objectivity and preventing emotions from derailing your trading plan. Over time, this fosters emotional control, which is crucial for sustained trading success. 3. Increased Consistency and Discipline: A trading journal encourages consistency by promoting adherence to your trading plan and strategies. By recording every trade—regardless of its outcome—you cultivate a disciplined mindset that helps you avoid impulsive decisions and maintain a structured approach aligned with your objectives. How to Establish Your Trading Journal Creating a trading journal is quite simple; the key lies in selecting the right format and knowing what to document. Follow this guide to set up a journal that effectively tracks your trading performance and identifies growth opportunities. Selecting Your Format: 1. Digital Applications: Tools like Evernote, OneNote, or specialized trading journal software offer accessibility, data backup, and automation. Many apps include analytics features for streamlined performance tracking. 2. Spreadsheets: Utilizing Excel or Google Sheets affords flexibility and customization. You can craft a spreadsheet tailored to your needs, complete with specified fields, formulas, and visualizations. 3. Paper Journals: For those who prefer a tactile approach, a traditional notebook can suffice. While writing by hand fosters reflection, it lacks digital conveniences like searchable records. Crucial Information to Record: To enhance the effectiveness of your trading journal, make sure to include these key data points: - Entry and Exit Points: Log the precise times and prices at which trades are entered and exited. - Position Size and Trade Details: Note the trade size, instrument, and any pertinent details. - Motivation for the Trade: Document the analysis or strategy that influenced your trade decision, whether rooted in technical analysis, fundamental factors, or broader market trends. - Emotional State: Record your feelings throughout the trading process to better understand emotional influences. - Trade Outcome and Lessons: Reflect on the trade's success and any insights gained, noting what worked well or what didn’t. Starting a trading journal requires minimal time but can significantly affect your long-term ability to track performance and improve. Read Also: Reviewing Your Trading Journal for Growth A trading journal can only yield benefits if you regularly review and analyze its contents. Consistent reviews enable you to identify patterns, adjust strategies, and enhance your trading acumen. Setting Review Periods: Designate time—weekly, biweekly, or monthly—to review your journal. These sessions reinforce your commitment to your goals and reveal areas needing adjustment, ensuring ongoing learning from your trades. Spotting Patterns and Mistakes: Analyze your trades for recurring themes. Determine if you consistently act on particular signals or if emotional responses lead to poor decision-making. Acknowledging frequent mistakes marks the first step toward correcting detrimental behaviors. Implementing Adjustments: Leverage insights from your journal to modify your trading strategies. If a specific method isn’t yielding results, revise or replace it accordingly. If certain emotional triggers lead to losses, develop coping mechanisms to mitigate their influence. By committing to regular reviews, you can transform your trading experiences into invaluable lessons that foster better habits and skills. Read Also: Maximizing the Benefits of Your Trading Journal To fully reap the rewards of a trading journal, it's crucial to engage with it effectively. Here are tips to enhance your journaling experience: 1. Maintain Consistency: Regularly enter details after every trade or at least daily. This practice captures relevant details while they’re recent, building a robust record for analysis. 2. Practice Honesty: Accurately document both successes and failures. A truthful account allows for clearer insights into areas needing improvement, as self-awareness plays a vital role in progress. 3. Utilize Visuals: Incorporate charts, graphs, or screenshots to enrich your journal. Visual aids facilitate pattern recognition and provide a more comprehensive understanding of your trading performance. Read Also: Conclusion: The Transformative Role of a Trading Journal A trading journal is an essential tool for any trader pursuing consistent success. By meticulously recording trades, scrutinizing decisions, and learning from both victories and defeats, you can sharpen your skills, master your emotions, and cultivate a disciplined approach to the markets. Beyond merely documenting past trades, a trading journal offers critical insights that can profoundly influence your long-term performance. By consistently utilizing this resource, you can decipher your unique trading habits, refine strategies, and ultimately boost your confidence in decision-making. ✅ Please share your thoughts about this article in the comments section below and HIT LIKE if you appreciate my post. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
Education
by FOREXN1
16
GBPUSD Buy Trade Idea 📈 GBPUSD Buy Trade Idea 📈 Looking for a move towards 1.2648 as price starts showing signs of recovery. 🔹 Current Price: 1.2630 🔹 Target: 1.2648 🔹 Deadline: Feb 25, 02:30 UTC This is the direction—now it's up to you to implement your own strategy on how you want to enter. Stick to your plan, manage risk, and let’s see how it plays out! 🔥 Drop your thoughts below! 👇🏼 #GBPUSD #ForexTrading #TechnicalAnalysis #PriceAction #TradeSetup #MarketMoves #ForexStrategy
Long
by GlobalHorns
British Pound / U.S. DollarHello Dear Traders Pound Analysis Based on the bullish analysis of DXY, I present to you the updated analysis for the Pound. The Pound chart has confirmed its bullish daily confirmation, and I expect the major daily ceiling, which is the main price target, to reach 1.34340 in the coming weeks. However, we have a long way to go until the price reaches our target. Currently, based on the bullish analysis of DXY, I have identified a suitable selling area in the 1-hour timeframe. Additionally, the minor 1-hour chart indicates a bullish trend. The Change of Character (CHoCH) has provided confirmation of a temporary correction in the 1-hour timeframe. Therefore, with this trend change, we can utilize this area of the Secret Order Block (1H) for entering a sell position. Again, in the selling area, a 5-minute confirmation can help us optimize our entry into the trade. First Support: 1.24866 1-Hour Liquidity: 123748 Potential Suitable Buying Area: 1.22928, which I will update once the price reaches this level. Wishing you all success! Fereydoon Bahrami A retail trader in the Wall Street Trading Centre (Forex) Risk Disclosure: Trading in the Forex market is risky due to high price volatility. This analysis is solely my personal opinion and should not be considered financial advice. Please do your own research. You are responsible for any profits or losses resulting from this analysis.
Short
by fereydoon1199
1
GBPUSD 1W analysisGBP/USD: Simple Trading Tips for Beginner Traders on February 24. Forex Trade Analysis Analysis of Trades and Trading Tips for the British Pound The test of the 1.2655 price level occurred when the MACD indicator was just starting to rise from the zero mark, confirming a strong entry point for buying the pound. However, as shown on the chart, the pair did not experience significant growth, leading to locked-in losses. The relatively modest data on UK manufacturing PMI and services PMI limited the pound's growth on Friday. Nevertheless, the overall outlook for the pound remains positive. Despite fluctuations, it continues to receive support from big buyers, even in light of expectations for Bank of England rate cuts. Today, the market will focus on the rhetoric of BoE representatives regarding inflation and the future outlook for interest rate hikes. Investors will look for hints about how quickly the BoE intends to ease its tight monetary policy. More hawkish statements, implying a longer period of high rates, could support the pound, while dovish signals indicating imminent rate cuts may lead to its weakening. Of particular interest is Swati Dhingra's stance, known for her cautious approach to rate hikes. Her comments will be closely analyzed for any potential shift in her position influenced by the latest economic data. Any change in her rhetoric could significantly impact market expectations. For intraday strategy, I will focus more on implementing Scenarios #1 and #2.
by ElliotWaveUnite
2
GBP/USD - Fair Value Gap (FVG) Short SetupOverview: A bearish reversal setup based on Fair Value Gaps (FVGs), a concept used in Smart Money trading strategies. Key Technical Insights: 🔹 Fair Value Gap (FVG) Zones: The price is approaching an FVG entry zone around 1.2700, which may act as resistance. A second FVG zone is located around 1.2850 - 1.2900, offering a secondary entry for shorts. 🔹 Bearish Trade Setup: The plan anticipates a reaction at the first FVG zone, leading to a downside move. If price continues higher, the second FVG zone provides another opportunity to enter shorts. 🔹 Stop Loss & Target: Stop Loss: Placed above 1.2928 to protect against invalidation. Target: 1.2350 - 1.2400, aligning with previous demand zones and imbalance filling. Trade Plan: 📌 Entry Strategy: Watch for bearish confirmation (e.g., rejection candles, lower time frame structure shift) at the FVG entry zone. If price moves beyond the first FVG, consider a second entry at 1.2850 - 1.2900. 📌 Exit Strategy: Take Profit: At the 1.2350 - 1.2400 target zone for a favorable risk-to-reward trade. Stop Loss: Above 1.2928 to mitigate risk. Final Thoughts: ✅ Bearish bias unless price breaks above 1.2928. ✅ Look for rejection at FVG zones for ideal entries. ✅ Potential downside move towards 1.2350 target. 📉 Patience is key—wait for confirmation before entering! 🚀
Short
by PIPsOptimizer