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GBPUSD

GBPUSD: Starting to correct?Hello dear friends! Today, GBP/USD is gradually decreasing to the level of 1.2800 tons in the first day of the new week. The US Dollar has prevented its losing streak as the market shifts to risk aversion ahead of the highly anticipated US CPI report, which will be released on Tuesday. This has somewhat limited the upward trend for the GBP/USD pair. As a result, the sellers are starting to suppress the price increases in the short to medium term. From the chart, we can see that a peak near 1.290 has formed and the price is starting to correct after a significant increase from the previous week. The technical targets and prospects in this case are highly evaluated at around 1.275, which is approximately the 0.5 - 0.618 Fibonacci levels.
Short
by RKarina
GBPUSD :Pay ​​attention to US CPI data!Greetings dear friends, today the currency pair is trading around the level of 1.278 and has started a slight correction after facing selling pressure since yesterday. The cautious sentiment in the market ahead of important events in both the UK and the US may provide some support for safe-haven assets like the US Dollar (USD). The US Consumer Price Index (CPI) for February is estimated to maintain stability at 3.1% compared to the same period last year, and the core CPI is expected to decrease from 3.9% to 3.7% in February. A stronger-than-expected CPI report could further diminish hopes of a Fed interest rate cut in the near future. Conversely, this could boost the US Dollar and create resistance for the GBP/USD currency pair.
Short
by RKarina
GBPUSD: Under pressure from the recovering USDThe GBP/USD pair remains below the psychological barrier of 1.2800 in the early Asian trading hours on Wednesday. The US dollar is stronger after the release of the US CPI inflation data for February, which pushed the major currency pair lower. Investors are awaiting the UK's GDP growth figure for January, which is forecasted to increase by 0.2% compared to the previous month. The price may continue to decline if this is favorable news for the USD. In the short term: The first resistance level is at 1.2800 before 1.2850 and 1.2870. On the other hand, 1.2750 is considered the first support level before 1.2730-1.2720 and 1.2690.
Short
by RKarina
GBPUSD hovers above 1.2770 resistance-turned-support on key dayGBPUSD regains 1.2800 after snapping a six-day losing streak, making rounds to 1.2820 heading into Tuesday’s European session. In doing so, the Cable pair portrays the market’s cautious mood ahead of the all-important UK employment data and the US Consumer Price Index (CPI) figures. That said, the overbought RSI (14) line joins the pre-data anxiety to test the Pound Sterling buyers. However, a seven-month-old resistance line, now support around 1.2770, challenges the immediate downside of the quote. Even if the pair drops beneath the resistance-turned-support of 1.2770, the 50-SMA level of 1.2690 and convergence of the 100-SMA and 200-SMA, close to 1.2585, will act as the final defense of the buyers before giving control to the bears. Meanwhile, the GBPUSD pair’s sustained run-up needs strong UK data, as well as softer US inflation to entertain the keep the Pound Sterling buyers on board. Even so, the yearly high marked on last Friday, around 1.2895, will be a tough nut to crack for the Cable buyers. In a case where the pair remains firmer past 1.2895, backed by the positive fundamentals, the quote could aim for the tops marked in July 2023 near 1.2995 and 1.3140 in that order. To sum up, the GBPUSD pair buyers keep the reins on the day of releases of the key employment and inflation data from the UK and the US.
by MTradingGlobal
GBPUSD : Moving towards critical creature abilities !The GBP/USD pair remains steady above the psychological barrier of 1.2800 in the early Asian trading hours on Friday. Selling pressure by the US Dollar provides some support for the major currency pair. The highlight on Friday will be the US labor market data for February. This currency pair has continued to gain points, although it has not yet surpassed the 1.2800 level. As mentioned before, buyers may not be able to sustain the value, and GBP/USD could face a decline. The next support level will be at 1.2700, followed by the 34-period Exponential Moving Average (EMA) at 1.2673. On the other hand, if buyers exten
Short
by RKarina
GBPUSD: Is this week's trend up or down?RKarina sends greetings at the beginning of the week to everyone, wishing you all a smooth and exciting trading week. Currently, GBPUSD is maintaining a fairly stable price around 1.266, recording a 0.08% recovery during the day. The GBP/USD pair has formed a good recovery on Friday from the level of 1.2600, which has been a low point for a week and a half, and has attracted some positive momentum. In terms of trends, GBPUSD is still in a sideways state, but in the short and medium term, it seems that the buying side is holding strong with price increases after this currency pair tested the 34 and 89 EMA lines and continued to move up. My goal for this week is for GBPUSD to continue rising with two main targets, namely 1.270 and 1.276. What about you? Do you have a goal for an increase or decrease in price?
Long
by RKarina
GBPUSD bulls jostle with multi-month-old resistance lineGBPUSD rose to the highest level in a month the previous day but failed to offer a daily closing beyond a downward-sloping resistance line from July 2023. In addition to the inability to cross the key trend line resistance, softer prints of the UK PMIs and sluggish MACD signals also challenged the Cable pair buyers. However, the quote’s capacity to remain firmer past the 200-bar Exponential Moving Average (EMA) and the firmer RSI (14) line push back the bears. Hence, the Pound Sterling bulls are likely to keep the reins and can overcome the immediate resistance line, close to 1.2700 by the press time, but its further advances need validation from the late 2023 swing high of around 1.2830 and the MACD signals to confirm the bullish trend. In that case, tops marked on July 23 and 13, respectively around 1.3000 and 1.3140, will be in the spotlight. Meanwhile, the GBPUSD pair’s pullback moves remain elusive beyond a one-month-old rising support line, close to 1.2600. Following that, the Cable bears will need confirmation from the 200-EMA level of 1.2530 on a daily closing basis to retake control. Should that happen, the quote’s gradual downward trajectory toward highs marked in November and October of 2023, around 1.2430 and 1.2335 in that order, can’t be ruled out. Overall, the GBPUSD pair remains on the bull’s radar despite the latest struggle with the key resistance line. Apart from the technical details, the cautious mood ahead of the US ADP Employment Change and Fed Chair Jerome Powell’s Testimony also appear crucial to determine near-term moves of the Pound Sterling.
by MTradingGlobal
GBPUSD: The risk of a price drop lurksThe GBP/USD exchange rate is hovering around 1.2680 on Wednesday as markets seek new impetus from the Federal Reserve (Fed) as investors gradually shy away from high-interest rate cut bets. Data on US Gross Domestic Product (GDP) inflation and Personal Consumption Expenditures (PCE) Price Index will be released this week. Data from the United Kingdom remains sparse this week, with the market focusing on important figures to update expectations of interest rate cuts by the Fed. As a result, GBPUSD is struggling to rise, with both short-term and medium-term corrections indicating a downward trend. The currency pair has already broken below the support level of 1.267. In the event that the next support level at 1.265 is breached, the possibility of a decline below 1.262 is entirely plausible as there will be no significant support points to prop up GBPUSD.
Short
by RKarina
GBP/USD: maintain good growth rateThe GBP/USD pair continues its upward momentum below the psychological barrier of 1.2700 in the early Asian trading session on Tuesday. The FOMC minutes indicated that the Fed has reaffirmed its data-dependent approach, leading to a more dovish outlook. This has weighed on the US Dollar (USD) and created a favorable environment for this currency pair. At the time of writing, GBP/USD is trading at 1.2685, up 0.02% for the day. My expectation is that the price will continue to rise after finding support at the 34 and 89 EMA levels.
by RKarina
GBPUSD AnalysisFOREXCOM:GBPUSD Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
by Phinics
GBPUSD ShortFX:GBPUSD Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
Short
by Phinics
AUDUSD LongFOREXCOM:AUDUSD Hello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. wait for more Smart Money to develop before taking any position . I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied... Keep trading Hustle hard Markets can be Unpredictable, research before trading. Disclaimer: This trade idea is based on Smart money concept and is for informational purposes only. Trading involves risks; seek professional advice before making any financial decisions. Informational only!!!!
Long
by Phinics
1
GBPUSD bulls keep the reins despite latest inactionGBPUSD stays defensive above 200-SMA after posting the first weekly gain in four, making rounds to 1.2680 early Tuesday. In doing so, the Cable pair defends last week’s upside break of the key SMA support, around 1.2660 by the press time, while also edging higher past a one-week-old rising support line, close to 1.2645 at the latest. Not only the pair’s ability to stay beyond the key SMA and an immediate support line, but an absence of the trend-negative oscillators also keeps the Pound Sterling buyers hopeful. It’s worth noting, however, that the quote’s sustained trading beneath 1.2645 will defy the bullish bias and make it vulnerable to aim for the monthly low surrounding 1.2520. On the other hand, the 1.2700 round figure guards the immediate upside of the GBPUSD pair amid a lack of major data/events, as well as due to the cautious mood ahead of today’s US Durable Goods Orders. That said, the Cable buyers target a downward-sloping resistance line from late December 2023, near 1.2740 as we write. In a case where the Pound Sterling manages to stay firmer past 1.2740, the yearly high of near 1.2785 and the late 2023 peak of 1.2830 will test the upside momentum targeting the 1.3000 psychological magnet. To sum up, the GBPUSD pair’s latest performance appears less important for the bears as far as the price stays beyond the key SMA and the short-term support line.
by MTradingGlobal
GBPUSDHello everyone, it's RKarina here again. Overall, GBPUSD continues to trade in an upward trend. So, what factors are driving this upward momentum? Today, the GBP/USD pair achieved modest gains above the 1.2600 level in the early Asian trading hours on Friday. The decline of the US Dollar provided some support for the major currency pair. Currently, GBPUSD is operating near the resistance level of 1.2700, with dynamic support around 1.2680 before 1.2650-1.2660. However, to ensure the safety of your trades, we have recommended a significant support zone around this area, which also coincides with continuous price reaction. When reaching that entry point, we can prioritize buying with an expected increase of 1.3500 and 1.3800.
Long
by RKarina
GBPUSD bears keep 1.2500 on radar, UK inflation eyedGBPUSD licks its wounds around 1.2600 early Wednesday as traders await the UK inflation clues for January. That said, the Cable pair marked a stellar move the previous day, initially rising to a seven-day high before posting the biggest daily loss in a week while reversing from the 50-bar Exponential Moving Average (EMA). It should be noted that Tuesday’s reversal from 50-EMA also defends the Pound Sterling’s early month break of a 12-week-old rising support line, now resistance around 1.2685. Additionally, the bearish MACD signals and an absence of the oversold RSI (14) also keep the pair sellers hopeful. However, a convergence of the 200-EMA and multiple levels marked since early December 2023, close to 1.2520-2500, appears a tough nut to crack for the pair bears. In a case where the prices drop below 1.2500, the mid-November 2023 swing low of around 1.2375 will be in the spotlight. Alternatively, the strong UK inflation numbers could allow the GBPUSD pair to have another battle with the 50-EMA and the aforementioned support-turned-resistance, respectively near 1.2635 and 1.2675. If at all the Cable bulls manage to keep the reins past 1.2675, a downward-sloping resistance line from January 12, close to 1.2770 by the press time, will be the final defense of the pair sellers. Following that, the late 2023 peak of near 1.2830 and the 1.3000 psychological magnet will lure the Pound Sterling buyers. Overall, the GBPUSD pair remains bearish unless staying below 1.2675, especially when the US inflation data appears more lucrative to the Fed hawks. Even so, the Bank of England (BoE) officials have been optimistic of late and hence today’s UK inflation clues will be closely observed for clear directions.
by MTradingGlobal