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GBPUSD.10.CFD trade ideas

GBPUSD runs into key resistance as BoE rate hike loomsGBPUSD pokes a 10-month-old descending resistance line as the Cable bulls brace for the Bank of England (BoE) updates. Given the pair’s successful trading above the key DMAs and a clear rebound from the 61.8% Fibonacci retracement of the May-September 2022 downturn, the buyers are likely to overcome the stated trend line resistance, currently around 1.2340. The same, if backed by the hawkish BoE updates, could allow the buyers to cross the multiple hurdles near the 1.2445-50 region. Following that, the May 2022 peak surrounding 1.2665 could gain the market’s attention. On the flip side, the 50-DMA and the 200-DMA restrict short-term GBPUSD downside near 1.2140 and 1.1900 respectively. Also acting as immediate support is the 1.2000 psychological magnet, as well as the 61.8% Fibonacci retracement level of 1.1775. In a case where the Cable bears keep the reins past 1.1775, joined by the BoE’s disappointment, tops marked in September and October of the last year, around 1.1735 and 1.1645 in that order, could act as intermediate halts during a likely fall towards the 50% Fibonacci retracement level around 1.1500. To sum up, GBPUSD is likely to rise further and has a price-positive technical set-up but the upside momentum needs validation from the BoE.
by MTradingGlobal
Rising Wedge Chart Pattern On All TF - GBPUSDIt's important to note that the behavior of the GBPUSD pair can be influenced by a wide range of factors such as global economic conditions, political developments, supply and demand, and market sentiment. Therefore, it's important to do your own research, analyze the market conditions, and consult with a qualified financial advisor before making any investment decisions. However, I can provide an explanation of the chart pattern you mentioned, which is the rising wedge pattern. A rising wedge is a bearish chart pattern that occurs when an asset's price is trading within an upward sloping channel but with a contracting range. This pattern is characterized by a series of higher highs and higher lows that form two converging trendlines that slope upward. The rising wedge pattern is formed when the price reaches a resistance level and starts to consolidate, with the highs getting lower and lower while the lows maintain their level, indicating that the buyers are losing momentum. Once the price breaks below the lower trendline of the wedge pattern, it can indicate a trend reversal, and traders may consider shorting the asset. However, it's important to note that the rising wedge pattern is not foolproof, and false breakouts can occur. Additionally, it's essential to use risk management techniques, such as setting stop-loss orders, to limit potential losses if the trade does not go as expected. In summary, the rising wedge pattern is a bearish chart pattern that can occur in the GBPUSD pair or any other asset, and it indicates a potential trend reversal. However, investors should conduct thorough research and analysis and consult with a financial advisor before making any investment decisions based on chart patterns.
Short
by Epic1st
#GBPUSD Uptrend Movement With rish:reward=3.5#trading stratergy #GBPUSD Uptrend Movemet time frame 3 hours. breakout from parallel channel. Buy at 1.20718, Target 1.22331, SL 1.20257 HOPE our analysis is adding value to your site trading Journey. If yes, Hit like button or boost our ideas. Thank you. NOTE: Published Ideas are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk. NOTE: RESPECT The risk. SL should not be more than 2% of the capital. Happy Trading
Long
by TanujaK
GBPUSD Trading setup 16.03.2023*As i marked the hogh probability POI zone *market touchs this zone and start moving downward *Market already gives CHoCH and make an INDUCEMENT * After taking inducement we take multiple entry on sell side as per risk appetite. I enter this trade after taken out the minor liquidity taht i draw a line on char that you can understand better way. Now i use 4hr time frame and entry will be 15min timeframe because we must check the lower timeframe for taken out inducement thank uou **Pls zoom the position and compare to my line chart that you can understand better..
Short
by ConsistencyFastlane
GBPUSD Intradday recovery📉📉GBPUSD In light of that Intraday view, I have my eyes still on the short-go GBPUSD as it tries to recover from its loss due to fundamentals. From the current intraday consolidation buzz, I'm looking for Price breaking below the 1.2055 level with a good close, If we get this, There will be a pullback during the NYC session, from where We can short for around 150 pips from 1.2080 down to 1.1910, I'll be going with 20Pips SL for this. I'll update here if any change
Short
by Ieios
1
GBPUSD buyers struggle on UK employment, US inflation dayDespite rising in the last four consecutive days, the GBPUSD bulls take a breather ahead of the key UK jobs report and the US Consumer Price Index (CPI) data. That said, the three-week-old descending resistance-turned-support-line, around 1.2140 at the latest, restricts the immediate downside of the Cable pair. Following that, the 200-SMA level surrounding 1.2100 precedes the one-week-old ascending trend line and the 100-SMA, respectively near 1.2040 and 1.2000, to challenge probe the Cable pair sellers. Should the quote remains bearish past 1.2000, a horizontal area comprising multiple levels marked since February 17, between 1.1915 and 1.1925, could try to prod the Cable bears. Alternatively, the 61.8% Fibonacci retracement level of the GBPUSD pair’s January-March fall, around 1.2200, caps the immediate upside around 1.2100. Following that, a run-up towards the mid-February swing high of around 1.2270 appears safe to expect. It should be noted that the quote’s run-up beyond 1.2270 will be crucial to watch as it holds the key to the pair’s run-up toward the previous monthly peak of 1.2400. Overall, the pre-data anxiety joins nearly overbought RSI conditions to probe GBPUSD buyers. However, the bullish MACD signals and hopes for further US Dollar weakness keep the bulls hopeful.
by MTradingGlobal
Possible GBPUSD Bullish SwingGBPUSD is looking set for a massive Bullish Move of about 2000 pips, I'll be dropping the setup and the required confirmation as soon as it reveals enough for us to hop on. In the meantime, Today is the CPI release for the month of March, and we've witnessed an unexpected turn out in the US financial system, this can potentially bring an halt to the US Bullish pull, giving an edge to the majors against the XXXUSD, I personally would have preferred to stay out of this trend till the dust settles, but what then is Trading if not for times like this. Before the CPI release, I'll be looking to take advantage of the most available Demand@1.2110 for a minimum return of a hundred pips and a maxSL of 25pips, whatever the outcome is, the market is cooking, and it should be allowed to finish.. I'll keep my Ideas updated here and I'll really love to hear your opinion about this setup
Long
by Ieios