GBPUSD_109 2024.11.07 05:47:10 Trading Signal BUY
FrankPro Signal for GBPUSD_109
Type: Screen
Signal: BUY
TP: 1.29761
SL: 1.29185
Entry Price: 1.29257
Analysis for GBPUSD
Forecast Overall(Short-Term, Long-Term): ST=Strong Down LT=Strong Up
Forecast Methods(Short-Term, Long-Term):
[Method0] ST=Down LT=Up
[Method1] ST=Down LT=Up
[Method2] ST=Down LT=Up
Analysis Method(0)
Based on the provided analysis, here are my predictions for the GBP/USD exchange rate:
**Short-term (next few days):**
* The price is expected to be highly volatile due to the US presidential election results and upcoming monetary policy decisions.
* Technical analysis suggests a potential fall to the 50% Fibonacci Retracement point at 1.2732, with a sell target at 1.2730 and a stop-loss at 1.3000.
* However, a breakout above 1.2900 could lead to a bullish scenario with a take-profit at 1.3000 and a stop-loss at 1.2730.
* Given the uncertainty and volatility, I predict the price to **go down** in the short-term, potentially testing the support area near 1.2865.
**Long-term (next few weeks/months):**
* The GBP/USD forecast suggests an attempt to test the support area near 1.2865, followed by potential growth with a target near 1.3235.
* A breakout above the resistance area of 1.3065 would confirm the growth option.
* Considering the potential for a rate cut by the Federal Reserve and the Bank of England, I predict the price to **go up** in the long-term, potentially reaching the target near 1.3235.
* However, if the price breaks below the support area of 1.2795, it could indicate a continuation of the decline, and the long-term outlook would be bearish.
Please note that these predictions are based on the provided analysis and are subject to change as new information becomes available.
Result: [Method0] ST=Down LT=Up
Analysis Method(1)
Based on the provided analysis, here is my assessment of the expected price movement for the GBP/USD pair:
**Short-term (next few days):**
* The technical analysis suggests a bearish trend, with the pair moving below the 50-day and 100-day EMAs and below the Ichimoku cloud.
* The MACD indicator has moved below the zero line, and the RSI has moved downwards, indicating a potential continuation of the downtrend.
* The forecast suggests a potential decline to around 1.2725 if the pair breaks below 1.2795.
* High volatility is expected due to the US election results and upcoming economic announcements.
**Expected price movement in the short-term: DOWN**
**Long-term (next few weeks/months):**
* The impact of the US election on the GBP/USD pair is expected to be significant, but the long-term effects are uncertain.
* The Federal Reserve's interest rate decision and the Bank of England's interest rate decision may influence the pair, but the expected rate cuts may not have a significant impact.
* The technical analysis suggests a bearish trend, but the pair may potentially rise towards 1.3235 if it tests the support area near 1.2865.
* The long-term trend is uncertain, and the pair may experience high volatility due to various economic and political factors.
**Expected price movement in the long-term: UNCERTAIN (but potentially UP if the pair tests the support area and rises towards 1.3235)**
Please note that this analysis is based on the provided data and may not reflect the actual market movements. The foreign exchange market is highly volatile, and prices can change rapidly due to various factors.
Result: [Method1] ST=Down LT=Up
Analysis Method(2)
Based on the analysis, here are my expectations for the GBP/USD price movement:
**Short-term (next few days):**
* The price is expected to go **down**. The bearish tendencies, "Head and Shoulders" pattern, and moving averages indicating a short-term bearish trend all suggest a downward movement.
* The pair is likely to test the support area near 1.2865 and potentially break below 1.2795, leading to a continuation of the decline to around 1.2725.
* The high volatility due to the US presidential election results and the Federal Reserve's interest rate decision may also contribute to a short-term decline.
**Long-term (next few weeks/months):**
* The price is expected to **stay the same** or potentially **go up**. Although the short-term trend is bearish, the pair is forming a correction and the "Head and Shoulders" pattern may be broken if the price rises above the resistance area and closes above 1.3065.
* A bullish scenario could see the pair rise to 1.3235, and the upcoming Bank of England (BoE) interest rate decision may also influence the long-term trend.
* However, the long-term outlook is less clear, and the price may remain range-bound or experience a sideways movement.
Please note that these expectations are based on the analysis provided and are subject to change as new market data and events become available.
Result: [Method2] ST=Down LT=Up
Type: Screen
Signal: BUY
TP: 1.29761
SL: 1.29185
Entry Price: 1.29257
Analysis for GBPUSD
Forecast Overall(Short-Term, Long-Term): ST=Strong Down LT=Strong Up
Forecast Methods(Short-Term, Long-Term):
[Method0] ST=Down LT=Up
[Method1] ST=Down LT=Up
[Method2] ST=Down LT=Up
Analysis Method(0)
Based on the provided analysis, here are my predictions for the GBP/USD exchange rate:
**Short-term (next few days):**
* The price is expected to be highly volatile due to the US presidential election results and upcoming monetary policy decisions.
* Technical analysis suggests a potential fall to the 50% Fibonacci Retracement point at 1.2732, with a sell target at 1.2730 and a stop-loss at 1.3000.
* However, a breakout above 1.2900 could lead to a bullish scenario with a take-profit at 1.3000 and a stop-loss at 1.2730.
* Given the uncertainty and volatility, I predict the price to **go down** in the short-term, potentially testing the support area near 1.2865.
**Long-term (next few weeks/months):**
* The GBP/USD forecast suggests an attempt to test the support area near 1.2865, followed by potential growth with a target near 1.3235.
* A breakout above the resistance area of 1.3065 would confirm the growth option.
* Considering the potential for a rate cut by the Federal Reserve and the Bank of England, I predict the price to **go up** in the long-term, potentially reaching the target near 1.3235.
* However, if the price breaks below the support area of 1.2795, it could indicate a continuation of the decline, and the long-term outlook would be bearish.
Please note that these predictions are based on the provided analysis and are subject to change as new information becomes available.
Result: [Method0] ST=Down LT=Up
Analysis Method(1)
Based on the provided analysis, here is my assessment of the expected price movement for the GBP/USD pair:
**Short-term (next few days):**
* The technical analysis suggests a bearish trend, with the pair moving below the 50-day and 100-day EMAs and below the Ichimoku cloud.
* The MACD indicator has moved below the zero line, and the RSI has moved downwards, indicating a potential continuation of the downtrend.
* The forecast suggests a potential decline to around 1.2725 if the pair breaks below 1.2795.
* High volatility is expected due to the US election results and upcoming economic announcements.
**Expected price movement in the short-term: DOWN**
**Long-term (next few weeks/months):**
* The impact of the US election on the GBP/USD pair is expected to be significant, but the long-term effects are uncertain.
* The Federal Reserve's interest rate decision and the Bank of England's interest rate decision may influence the pair, but the expected rate cuts may not have a significant impact.
* The technical analysis suggests a bearish trend, but the pair may potentially rise towards 1.3235 if it tests the support area near 1.2865.
* The long-term trend is uncertain, and the pair may experience high volatility due to various economic and political factors.
**Expected price movement in the long-term: UNCERTAIN (but potentially UP if the pair tests the support area and rises towards 1.3235)**
Please note that this analysis is based on the provided data and may not reflect the actual market movements. The foreign exchange market is highly volatile, and prices can change rapidly due to various factors.
Result: [Method1] ST=Down LT=Up
Analysis Method(2)
Based on the analysis, here are my expectations for the GBP/USD price movement:
**Short-term (next few days):**
* The price is expected to go **down**. The bearish tendencies, "Head and Shoulders" pattern, and moving averages indicating a short-term bearish trend all suggest a downward movement.
* The pair is likely to test the support area near 1.2865 and potentially break below 1.2795, leading to a continuation of the decline to around 1.2725.
* The high volatility due to the US presidential election results and the Federal Reserve's interest rate decision may also contribute to a short-term decline.
**Long-term (next few weeks/months):**
* The price is expected to **stay the same** or potentially **go up**. Although the short-term trend is bearish, the pair is forming a correction and the "Head and Shoulders" pattern may be broken if the price rises above the resistance area and closes above 1.3065.
* A bullish scenario could see the pair rise to 1.3235, and the upcoming Bank of England (BoE) interest rate decision may also influence the long-term trend.
* However, the long-term outlook is less clear, and the price may remain range-bound or experience a sideways movement.
Please note that these expectations are based on the analysis provided and are subject to change as new market data and events become available.
Result: [Method2] ST=Down LT=Up
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.