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GBPUSD

GBPUSD ends the price increaseThe GBP/USD pair has entered a phase of decline and is oscillating within a narrow range around the 1.2220-1.2225 area. The US Dollar (USD) managed to maintain its upward momentum overnight, inspired by comments from Federal Reserve Chairman Jerome Powell, which turned out to be the main factor acting as resistance to the GBP/USD pair. On the other hand, the British Pound (GBP) is weighed down by bleak economic prospects in the UK and increasing expectations that the Bank of England (BoE) will soon begin cutting interest rates, serving as a psychological arrow for investors to sell off the GBPUSD pair. On the chart, this currency pair has surpassed the support area at 1.225, and a downward correction could bring the pair back to lower levels along the expected trendline at around 1.214 after a short-term price increase adjustment.
Short
by Samson-FX
GBP/USD : The pound continues to slipDear friends, Currently, the British Pound (GBP) is stuck in a narrow range as investors seem reluctant to establish new positions before the release of the UK's third-quarter Gross Domestic Product (GDP) data, which is scheduled for Friday at 07:00 GMT. The GBP/USD pair is still struggling as the Q3 GDP report will shape the monetary policy outlook for the Bank of England (BoE) in December. From the 4-hour chart, we can see that the price has broken out of the upward channel, resulting in a significant price increase. At the time of writing, the price is trading around 1.2272, after retreating from 1.2430. Therefore, it is likely that GBP/USD will continue to move lower in the short term during this weekend session.
Short
by Samson-FX
GBPUSD drops towards 1.2200-2190 support confluenceGBPUSD remains on the way to posting a weekly loss after declining in the last four consecutive days, pressured around 1.2220 during early Friday. The Cable pair’s U-turn from the seven-week-old horizontal resistance area and the broadly firmer US Dollar join bearish MACD signals to underpin the downside bias. However, the cautious mood ahead of the key UK GDP and the US consumer sentiment details join a convergence of the 100-SMA, SMA and a fortnight-long rising trend line to challenge the pair bears around 1.2200-2190. In a case where the Pound Sterling drops below 1.2190, the monthly low of around 1.2095 and the late October bottom surrounding 1.2070 could lure the bears before probing them with the previous monthly trough near 1.2035 and the 1.2000 psychological magnet. On the flip side, the 50% and 61.8% Fibonacci retracement levels of the GBPUSD pair’s September-October downside, respectively near 1.2300 and 1.2355, guard near-term recovery. Following that, the aforementioned horizontal resistance surrounding 1.2425-30 will be a tough nut to crack for the Pound buyers. It should be noted, however, that the quote’s ability to stay firmer past 1.2430 enables the bulls to challenge the late September swing high of around 1.2550. Overall, the GBPUSD pair remains on the bear’s radar unless it stays below 1.2430. Hence, any data-driven rebound will be elusive below the stated upside hurdle and needs to be traded with caution.
by MTradingGlobal
GBPUSD: Reduce below 1,2300 when the US dollar stronger!Hello everyone, after a significant breakthrough last week, GBPUSD is currently undergoing corrective trends and showing clear short-term bearishness on the 1-hour chart. The currency pair is trading at the level of 1.229 and has lost 0.06% during the day. The GBP/USD exchange rate depicts a bearish trend in the near future after failing to break the 1.2400 level. As a result, the retracement has surpassed the previous cycle's high of 1.2337, opening up opportunities for deeper losses. Buyers need to hold the price above the highest level on October 24th, which is 1.2288, if they want to maintain hopes of higher prices. Otherwise, this currency pair will continue to extend its losses, with sellers targeting 1.2069, the lowest level on October 26th.
by Samson-FX
GBPUSD: Breakthrough transaction stepsAfter a quiet Asian trading session, GBP/USD regained momentum and reached its highest level in 7 weeks at 1.2400 on Monday. The currency pair has transitioned into an overbought state from a technical standpoint, but buyers may still be interested in the possibility of 1.2400 remaining as support. The US unemployment rate rose to 3.9% in October from 3.8% in September, with non-farm payrolls increasing by 150,000, which was lower than expectations. The US dollar (USD) continued to weaken against its major counterparts following the October employment report, and GBP/USD saw an impressive increase before the end of the week.
Long
by Samson-FX
GBPUSD rebound approaches key upside hurdle on BoE DayGBPUSD picks up bids to extend the previous day’s rebound from an eight-month-old ascending support line as the Cable traders await the Bank of England (BoE) monetary policy decision on Thursday. While recovering from the stated support line, the Pound Sterling respects the upward-sloping RSI (14) line and the bullish MACD signals, which in turn suggests the quote’s further upside. However, a falling resistance line from mid-July, close to 1.2220 by the press time, guards the immediate upside of the pair. It’s worth noting that a clear upside break of 1.2220 will allow the bulls to challenge the previous monthly high of around 1.2340 but a convergence of the 100-day and 200-day Exponential Moving Average (EMA), currently near 1.2400, will be a tough nut to crack for the buyers afterward. On the contrary, the GBPUSD pullback needs validation from the aforementioned support line and 78.8% Fibonacci retracement of March-July upside, close to 1.2080. Following that, October’s bottom of around 1.2035 and the 1.2000 threshold will test the Cable bears before giving them control. In that case, the yearly low marked in March around 1.1800 will be in the spotlight. To sum up, a GBPUSD rebound appears imminent but the BoE’s likely dovish halt and stated EMA confluence prod the bullish bias.
by MTradingGlobal
Latest GBPUSD update todayDear readers, At the time of writing, GBPUSD is trading below the 1.2300 level. This currency pair is benefiting from the widespread depreciation of the US dollar and positive changes in risk sentiment. The UK's employment data is not moving the needle on the British pound. PMI is being closely watched. At this stage, the likelihood of GBP breaking clearly above this level is low. On the other hand, if GBP breaks the strong support level at 1.2165, it would mean that it will be difficult for it to rise to 1.2340. Best regards,
by Samson-FX
GBPUSD looks at the Fed's Powell for new motivationDear friends, Currently, after a quiet Asian trading session, GBP/USD has risen higher to the 1.2200 area on Wednesday morning in Europe. The technical outlook still does not show a forming upward trend, but there could be additional gains if this currency pair starts using the support level at 1.2200. If GBP/USD fails to surpass the 1.2200 level, sellers may still be interested and cause this currency pair to retreat to the 1.2130 and 1.2100 levels.
Short
by Samson-FX
GBPUSD - British Pound against USD is at support levelThe British pound is showing signs of slipping after a slight increase yesterday, but I personally believe it will come back strongly with current information related to the European market. More or less the intense war in the Middle East will affect the prices of currencies, and only gold will have stable and sudden growth. British Pound against USD is at support level If the war continues to spread to major powers like America, Russia, and China, World War 3 may break out The European Union (EU) and the United States are planning to create a common tariff area, imposing tariffs on steel and aluminum imports from economies such as China, under their export theme. European Commission on EU-US consensus.
Long
by NicoTradingMaster
The USD simultaneously increased againAccording to CME Group's FedWatch Tool, Fed Funds futures traders are pricing in a 39% chance that the Fed could raise interest rates again later this year, but only a 6% chance of a hike. in the next month. Fed Governor Christopher Waller recently said he wants to monitor whether the US economy continues to grow strongly or weaken this year in the context of the Fed's recent sharp increase in interest rates. Meanwhile, New York Fed President John Williams also said that interest rates will need to remain high for a certain period of time to bring inflation back to the Central Bank's 2% target. Fed Chairman Jerome Powell and several regional Fed presidents will give speeches today, October 19. A series of recent economic data shows that US economic activity has been little changed over the past month, due to the gloom in the labor market, and prices continue to increase at a "modest" pace. . Additionally, the greenback also benefited from its safe-haven status due to concerns about the conflict in the Middle East. On the contrary, the Euro fell 0.38% to 1.0536 USD.
Long
by NicoTradingMaster
Analyze and update GBPUSD new weekHello dear friends! After several days of price increase, GBPUSD has returned to its downward trend. It is currently trading at 1.2167 as of the time of writing, with a short-term recovery. The adjustment of the US 10-year Treasury bond yield lower, after increasing by over 3% on Thursday, has made it difficult for the USD to appreciate based on recent gains. Due to this reason, buyers will continue to push this currency pair higher, with an expected increase between 1.2308 - 1.2415, supported by the trendline and strong support level at 1.2121. What are your thoughts on this article? Please leave your comments below!
Long
by Samson-FX
GBP/USD extends the reduction of 1,2170, waiting for his CPIHello dear traders! Currently, GBP/USD continues to incur losses for the second consecutive day, trading below the level of 1.2160 in the Asian session on Wednesday. Optimistic economic data from the United States puts pressure on the currency pair. GBP/USD reversed after rising to the area of 1.2200, where the recent downtrend's resistance level is located, confirming the significance of this resistance level. Meanwhile, the 4-hour chart shows a consolidation of the downward momentum. On the other hand, the level of 1.2130 is considered an immediate support level. Closing below that level within the 4-hour timeframe could attract more sellers. In that scenario, GBP/USD may find temporary support at 1.2100 (a psychological level) before targeting 1.2050 (the end point of the recent downtrend). If GBP/USD rises above 1.2200 and confirms that level as support, it could potentially extend its gains towards 1.2250 and 1.2300.
Short
by Samson-FX
GBPUSD is expected to decrease slightlyHello everyone! GBP/USD closed the last two trading days of the previous week in the negative zone. Although this currency pair attempted a modest recovery at the beginning of Monday, it failed to gain momentum. Technical analysis: GBP/USD maintains a slight upward trend, with prices fluctuating around 1.2168 and decreasing by 0.37% in the day. If safe-haven flows continue to dominate the market in the second half of the day, the USD may remain strong against its counterparts, making it difficult for GBP/USD to gain traction. Positive changes in market sentiment could potentially push GBP/USD higher, but investors may be cautious about betting on improved stability in risk sentiment.
by Samson-FX
GBPUSD stays pressured on UK inflation dayGBPUSD prints mild losses below 1.2200 during early Wednesday as market players await the UK inflation data while consolidating the week-start gains of the Cable pair. That said, a likely easing inflation pressure in Britain joins the downbeat RSI (14) and the impending bear cross on the MACD keeps the pair sellers hopeful. With this, the quote’s fall toward the 78.6% Fibonacci retracement of March-July upside, near 1.2090, becomes imminent. However, a seven-month-old upward-sloping support line surrounding 1.2070 appears a tough nut to crack for the pair sellers afterward. In a case where the bears manage to conquer the 1.2070 support, the 1.2000 psychological magnet and March’s bottom of around 1.1800 will be in the spotlight. On the contrary, GBPUSD recovery needs validation from the strong UK inflation data and the US Dollar’s weakness to convince intraday buyers. Additionally, a three-month-long descending trend line, close to 1.2280 at the latest, holds the key to the bull’s conviction. Following that, the Cable pair’s run-up toward the 200-day SMA level of around 1.2445 can’t be ruled out. It’s worth observing that the Pound Sterling’s successful trading above 1.2445 will aim for August month’s low of around 1.2550 while May’s high of 1.2680 could lure the optimists after. Overall, GBPUSD is likely to witness further downside but the road toward the south is long and bumpy.
by MTradingGlobal
Latest update of GBPUSD todayCurrently, GBP/USD has struggled to maintain its upward momentum at around 1.2300 levels at the start of Thursday and entered a consolidation phase. In the latter part of the day, the US inflation data for September could impact the pricing of the US Dollar (USD) and drive the action of this currency pair. As of the time of writing, GBP/USD is trading at 1.2303. In line with that, the cautious comments from Federal Reserve officials this week have weakened the USD against its counterparts. Investors assess a 72% probability that the US central bank will keep its policy interest rates unchanged until 2023. In the event that the core Consumer Price Index (CPI) is around 0.5%, the market may reassess the Fed's interest rate outlook and help the USD regain its traction. On the other hand, risk sentiments could continue to dominate market activity on soft print and allow GBP/USD to continue its ascent based on its weekly gain.
Long
by Samson-FX
gbpusd long foundHarvin fx found 2 ideas in GBPUSD IDEA 1 now gbp in swing area (1.20904-1.20145) also in small buy area (1.21740 to 1.21056) if this small buy zone or swing area active it will be a sell retracement then it will go to 1.22913 to 1.23353(SELL ZONE OR SELL OB) also there is trend line close the 50% and wait for the break out if there is a breakout then the major targets zone is 1.25244 to 1.25462 Else it will move to second buy OB or Swing area (1.18866 to 1.17637) then it will go to major Target zone IDEA 2 if this small buy or 1st swing zone cant work market will move to 2nd Major buy or swing or BUY OB (1.18866 to 1.17637) then GBPUSD will trun buy mode to Major Targets or STRONG SELL OB 1.25244 to 1.25462
by SATHAYAM_ACADEMY
GBP/USD consolidated below the highest level for weeks at 1,2300Samson greets everyone! Currently, the GBP/USD pair has gained momentum and reached a two-week high at 1.2250 after today's trading session. The positive shift in risk sentiment has made it difficult for the US Dollar (USD) to find early demand on Tuesday, thereby boosting the GBP/USD exchange rate. At the time of writing, the UK's FTSE 100 index has risen by 1.5% for the day, while US futures have increased by around 0.2%, potentially allowing this currency pair to extend its recovery in the latter half of the day. On the upside, 1.2300 aligns with the next resistance level before 1.2350 and 1.2380. On the other hand, 1.2250 may serve as a temporary support level before 1.2220 and 1.2200.
Long
by Samson-FX
GBPUSD rebound appears elusive below 1.2510GBPUSD seesaws at a three-week high ahead of the UK data dump, probing a six-day winning streak. However, the RSI (14) line steadies near the overbought region and joins a looming bear cross on the MACD to suggest that the bulls are running out of steam. With this, a pullback towards the late September swing high of around 1.2270 becomes imminent but a convergence of the 100-SMA and 23.6% Fibonacci retracement of the pair’s August-October downturn, near 1.2215, appears a tough nut to crack for the Cable bears afterward. Even if the quote drops below 1.2215, the previous resistance line stretched from late August, close to 1.2090 by the press time, will precede the monthly low of around 1.2035 and the 1.2000 threshold to act as final defenses of the Pound Sterling buyers. Meanwhile, the 38.2% Fibonacci ratio of nearly 1.2320 guards the immediate recovery of the GBPUSD pair ahead of the 200-SMA hurdle of 1.2375. Following that, the 50% Fibonacci retracement surrounding 1.2415 can lure the Cable bulls. Above all, the 1.2510 resistance confluence comprising a convergence of the seven-week-long descending trend line and the 61.8% Fibonacci retracement, also known as the Golden Ratio, will challenge the Pound Sterling buyers before giving them control. In a case where the pair remains firmer past 1.2510, the odds of witnessing a run-up towards the August 30 peak of around 1.2750 can’t be ruled out. To sum up, the bullish momentum fades but the road toward the south is long and bumpy while the upside needs validation from 1.2510.
by MTradingGlobal