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U.S. Dollar / Pound Sterling

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USDGBP trade ideas

GBP/USD → Breaks Out, Eyes New Trend Target Around 1.300Hello everyone, Ben here! The GBP/USD pair has found an opportunity to recover as a breakout from the previous parallel channel around the 1.271 region takes shape amid the dollar's ongoing correction. Key levels of interest are now set around the 1.300 area, with market sentiment cautiously optimistic. A notable test of the intermediate low near the 1.248 mark was followed by an impressive reversal pattern, suggesting a bullish shift in momentum. Theoretically, the outlook leans toward further upside. However, the bigger question remains: How sustainable is this rally? The answer primarily lies in the trajectory of the U.S. dollar. According to the CME FedWatch tool, the market is currently pricing in a 71.8% probability that the Federal Reserve will cut interest rates by 25 basis points in December. This scenario implies increased downside pressure on the USD, potentially opening the door for a moderate recovery in other currencies, including the pound. From a technical perspective, the channel breakout provides a promising bullish signal, potentially setting the stage for a stronger upward move. However, traders appear cautious, waiting for further confirmation. If a false breakout above resistance occurs and the price falls below 1.271, a move back toward 1.240 could be on the horizon. For now, though, the mid-term outlook hints at a gradual climb from 1.275 to the psychological level of 1.300, supported by positive technical signals. What are your thoughts on the current dynamics of GBP/USD? Share your insights, questions, or observations—let’s analyze this fascinating setup together!
Long
by Bentradegold
11
GBP/USD on the Move – Will the Bulls Take Charge?OANDA:GBPUSD - 1Hr Chart Current Price:1.27664 Executive Summary: The price is currently trading within an ascending channel after finding support during the London session on Friday, Nov 22. A breakout above the 1.26953 level, now acting as strong support, suggests continued upward momentum toward the ultimate resistance at 1.29395, offering a potential profit of 171 pips. Detailed Analysis: After analysing the chart, we observed that the price found support during the London session on Friday, Nov 22, and has since been trading upward within an ascending channel. The resistance at 1.26953 was broken and now serves as a strong middle support or equilibrium. This level acts as a balancing point, where price often pauses, retests, or consolidates before continuing its trend. It works as a critical area of decision-making for traders, offering opportunities for price rebounds in an uptrend or potential breakdowns in case of bearish pressure. The price is expected to rise toward the ultimate resistance at 1.29395, as highlighted on the chart, with a potential profit of 171 pips. Bearish Scenario: In the bearish scenario, if significant selling pressure drives the price below the 1.26953 middle support, it could signal a potential shift in market sentiment. This middle support currently acts as a critical level, maintaining the upward momentum. A break below it may invalidate the bullish structure, leading to further declines. In such a case, the price is likely to target the next key level at the ultimate support of 1.24512. This level represents a strong foundational support where buyers might step in to stabilise the price and counteract the bearish momentum. Key Levels to Watch: • Middle Support: 1.26953 (Strong support and potential bounce level). • Ultimate Resistance: 1.29395 (Target level for upward momentum). • Ultimate Support: 1.24512 (Potential downside target if support breaks). Thank you for taking the time to read this analysis. Wishing you the best in your trading journey! Remember to always follow proper risk management strategies to ensure long-term success in the markets. Good luck with your trades!
Long
by SpicyPips
GBPUSD MARKET ANALYSIS!Price has been in a bearish trend for a while now In daily timeframe and it’s already close to the weekly support level. At the moment, price is at a crucial juncture where we’d expect volatility to impact the market due to economic sentiments coming up next week. From the technical standpoint, if we’d get a break above 1.29683 price will trade bullish to 1.32431 (tp1) and possible to a new high above 1.35000(tp 2) whereas a break below the weekly support Will completely change to a medium term sell
Long
by Cartela
GBPUSD The Target Is UP! BUY! My dear friends, Please, find my technical outlook for GBPUSD below: The instrument tests an important psychological level 1.2651 Bias - Bullish Technical Indicators: Supper Trend gives a precise Bullish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 1.2715 Recommended Stop Loss - 1.2607 About Used Indicators: Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
2
GBPUSD Short On Higher US CPITrade idea Continue longer term GBPUSD downside with diverging macroeconomic data's and central bank policy. Entering trade if USD CPI comes in higher to support USD strength. Fundamentals GBP - The BoE has cut rates from the high of 5.25% to the current rate of 4.75% with more MPC members voting for a cut than anticipated. Inflation is holding around the target rate, currently at 2.3% with an increase in unemployment to 4.3% (previously 4%). PMI's and GDP have also seen lower readings in recent months, all of which supporting the continuation of the BoE's rate cutting cycle. USD - The FED has been matching the BoE with the pace of the interest rate cuts but they have continued to stress the fact that they are data dependant and will hold rates if necessary. The hawkish undertones and the effects of the "Trump trade" had seen USD strength considerable over recent weeks. US CPI has increased from 2.4 to 2.6% with tomorrows release due to rise again, NFP increased more than expected along with PCE and PPI. Trigger - Along with the technical setup below, I will be looking for the potential to place a short order beneath technical levels ahead of the US CPI. If this data comes out stronger to further support the GBPUSD short the order will be triggered. If CPI is softer, the order will be cancelled. Technical Setup 4hr - Clear trend lower with 200 EMA confirming trend direction - Retracement back into a 50-61.8% fib level, 1.28000 psychological round number - 200 EMA acting as dynamic resistance - Weekly volume profile cave filled and acting as resistance 1hr - Counter trendline and channel with price most recently failing to reach the channel high, possibly indicating counter trend weakness. - Unconfirmed double top price pattern, breakout lining up with counter trendline - 14 period RSI showing bearish divergence Order placement will be below counter trendline breakout ahead of CPI release with the stoploss behind the swing high and a target at the recently swing long with potential to extend. If the level breakout before CPI wait for entry, if CPI comes in lower than expected remove order.
Short
by ElGore18
1