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GBPUSD

GBPUSD bulls run out of steam on BOE-inspired Super ThursdayBe it a one-month-old rising wedge or the overbought RSI conditions, GBPUSD shows it all to suggest that the bull’s reign is near to end. However, a sustained trading below the 1.2330 support, comprising the lower line of the aforementioned rising wedge bearish chart pattern, becomes necessary for the seller’s entry. Even so, the 200-DMA level surrounding 1.2100 could challenge the bears. Following that, a downward trajectory towards the 1.2000 psychological magnet and then to September’s peak surrounding 1.1740 can’t be ruled out. It’s worth noting that the rising wedge confirmation signals a theoretical target of around 1.1000. Meanwhile, the upper line of the stated wedge, close to 1.2550, could act as an immediate upside hurdle to watch during the Cable pair’s further advances. In a case where the GBPUSD bulls defy the bearish chart pattern by crossing the 1.2550 hurdle, the 78.6% Fibonacci retracement level of the pair’s south-run from late March to September, near 1.2675, could lure the buyers. It’s worth noting that the mid-March low close to the 1.3000 psychological magnet and late March swing high near 1.3300 will be in focus if the quote remains firmer past 1.2675. Overall, GBPUSD is up for further downside as the BOE looms. However, a surprise hawkish outcome could allow the bulls to have a few more happy days.
by MTradingGlobal
Bullish on GBP / USDIf you're trading in the foreign exchange market, then you'll want to keep an eye on the GBP/USD pair. The pair has been looking very bullish lately, and it looks like it could be on the rise. This is good news for those who are looking to make some profits in the Forex market. The GBP has been steadily gaining strength against the USD, and this could mean that there are some big opportunities for those who are paying attention. Of course, it's always important to do your research before entering any trades, but this could be a great time to get in on the action! The GBP/USD pair looks like it could be headed for some big gains in the near future, and we can't wait to see what happens.
by thewolfofdalal
#GBPUSD it's possible to buy#GBPUSD waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance Why we like it: Price is trading in nearby 4hr support area Waiting for bullish candlesticks formed possible to move the next resistance area waiting for retracement 1st support: 1.13160 Next Zone area & horizontal swing Low support 1st Resistance 1.25646 Zone area & horizontal swing high resistance
Long
by Skandhatrade
#GBPUSD it's possible to buy#GBPUSD waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance Why we like it: Price is trading in nearby 4hr support area Waiting for bullish candlesticks formed possible to move the next resistance area waiting for retracement 1st support: 1.13160 Next Zone area & horizontal swing Low support 1st Resistance 1.25646 Zone area & horizontal swing high resistance
Long
by Skandhatrade
#GBPUSD it's possible to buy#GBPUSD waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance Why we like it: Price is trading in nearby 4hr support area Waiting for bullish candlesticks formed possible to move the next resistance area waiting for retracement 1st support: 1.13160 Next Zone area & horizontal swing Low support 1st Resistance 1.25646 Zone area & horizontal swing high resistance
Long
by Skandhatrade
GBPUSD bulls run out of steam as 2022 is near to endGBPUSD posted the biggest monthly gains since mid-2020 in November. However, the latest bullish trajectory appears doubtful as the pair stays beneath a one-month-old previous support line. That said, the 50-SMA restricts the pair’s immediate downside near 1.1985. Following that, the 100-SMA level surrounding 1.1860 could act as the last defense of the pair buyers before directing bears towards the 50% Fibonacci retracement level of November 04-24 upside, near 1.1650. Meanwhile, the upside break of the stated support-turned-resistance line, around 1.2190. Although the RSI conditions may turn overbought and challenge further advances near 1.2190, a successful run-up won’t hesitate to aim for the August month’s high near 1.2295. It should be noted that the GBPUSD pair’s sustained trading beyond the 1.2300 round figure should give a free hand to bulls targeting the mid-2020 peak surrounding 1.2665, with 1.2405 likely acting as a buffer.
by MTradingGlobal
#GBPUSD it's possible to buy#GBPUSD waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance Why we like it: Price is trading in nearby 4hr support area Waiting for bullish candlesticks formed possible to move the next resistance area waiting for retracement 1st support: 1.13160 Next Zone area & horizontal swing Low support 1st Resistance 1.19646 Zone area & horizontal swing high resistance
Long
by Skandhatrade
#GBPUSD it's possible to buy#GBPUSD waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance Why we like it: Price is trading in nearby 4hr support area Waiting for bullish candlesticks formed possible to move the next resistance area waiting for retracement 1st support: 1.13160 Next Zone area & horizontal swing Low support 1st Resistance 1.19646 Zone area & horizontal swing high resistance
Long
by Skandhatrade
#GBPUSD it's possible to buy#GBPUSD waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance Why we like it: Price is trading in nearby 4hr support area Waiting for bullish candlesticks formed possible to move the next resistance area waiting for retracement 1st support: 1.13160 Next Zone area & horizontal swing Low support 1st Resistance 1.19646 Zone area & horizontal swing high resistance
Long
by Skandhatrade
Buy idea on GBPCHFPound is bullish due to macroeconomic release buy only on breakout with retest. Note: All ideas forecasts are my personal views on the market, I share these ideas for free, and you're free to share my profile link with your friends, please do not use my Idea without credit. I post and share for educational purposes hence no idea we publish should be considered an investment advice. I mostly share ideas with more than normal conviction, meaning I mostly share ideas with High conviction. You can check all my work, you can understand my style of analysing market, please if you like my work do help me earn reputation and like, comment on my ideas, we can discuss more here.
Long
by CELGIB_TRADING
#GBPUSD it's possible to buy#GBPUSD waiting for retracement and Price trading in nearby 4hr support area and waiting for bullish candlesticks formed it will take entry for above the bullish candlestick and it will go for the next level of resistance Why we like it: Price is trading in nearby 4hr support area Waiting for bullish candlesticks formed possible to move the next resistance area waiting for retracement 1st support: 1.13160 Next Zone area & horizontal swing Low support 1st Resistance 1.19646 Zone area & horizontal swing high resistance
Short
by Skandhatrade
GBPUSD remains on the bull’s radarGBPUSD remains sidelined since the last Wednesday and retreats from its intraday high so far on Monday. Even so, a 13-day-old ascending trend channel defends the pair buyers. More immediately, a convergence of the 50-EMA and an upward-sloping trend line from early October, around 1.1760, restricts the quote’s nearby downside. Following that, the aforementioned channel’s lower line, close to 1.1720, will be crucial as a downside break of the same will direct bears towards the monthly low surrounding 1.1140. Alternatively, 1.1960 and the 1.2000 psychological magnet will precede the monthly peak surrounding 1.2030 to challenge the GBPUSD pair buyers during the quote’s fresh upside. Following that, the upper line of the previously mentioned channel, close to 1.2240, could restrict the pair’s further advances. In a case where the Cable pair rises past 1.2240, the August month high near 1.2295 will be in focus. Overall, GBPUSD stays on the bull’s radar despite the recently downbeat performance.
by MTradingGlobal