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GBPUSD.10.CFD trade ideas

GBPUSD buyers can ignore pullback from one-month highGBPUSD snaps a three-day winning streak by easing from its highest level in a month as the US Dollar licks its wounds at the multi-month low. Despite this retreat, the Cable pair is still trading within a long-term upward trend channel and above important support levels. The positive signals from the RSI and MACD suggest that the Pound Sterling could still rise. The immediate support is a 10-day-old rising support line surrounding 1.2880, with further support at 1.2800 from the 50-SMA. If the price drops further, the next supports are at 1.2675 (200-SMA) and 1.2450 (trend channel bottom). On the upside, the GBPUSD pair’s ability to break through the yearly high and the upper trend channel near 1.3045-50 will be tested to keep buyers on the table. The 1.3000 level is also a key resistance point, with the potential to push towards 1.3100 and the mid-2023 peak of around 1.3145 later on. Overall, GBPUSD remains an appealing option for buyers, even if short-term gains slow down.
by MTradingGlobal
Informed Buy Strategy for GBP/USD Description: Unlock profitable trading opportunities with our informed buy strategy for the GBP/USD pair on TradingView. This guide provides key fundamental insights that are essential for making well-informed trading decisions in the dynamic Forex market. Fundamentals Overview: 1. **Economic Indicators**: Keep a close watch on major economic data from both the UK and the US, including GDP growth, employment figures, inflation rates, and consumer confidence. These indicators significantly influence the strength and direction of the GBP/USD exchange rate. 2. **Central Bank Policies**: Monitor the Bank of England (BoE) and the Federal Reserve's monetary policy decisions. Interest rate changes, quantitative easing programs, and other policy measures can create shifts in currency demand, impacting GBP/USD. 3. **Political Developments**: Stay updated on political events and decisions, particularly those related to Brexit, UK government policies, and US fiscal measures. Political stability and changes in leadership can affect market sentiment and currency valuations. 4. **Market Sentiment**: Assess overall market sentiment and risk appetite, driven by global economic trends, geopolitical events, and investor confidence. Risk-on or risk-off environments can lead to significant fluctuations in the GBP/USD pair. Disclaimer: Trading Forex, including the GBP/USD pair, carries a high level of risk and may not be suitable for every investor. Currency markets are highly volatile, and price movements can be rapid and unpredictable. You should carefully consider your investment objectives, experience level, and risk tolerance before engaging in Forex trading. It is possible to lose more than your initial investment. Always seek advice from a financial advisor if you are uncertain about your trading strategy or the risks involved. --- Use this guide to refine your approach to trading the GBP/USD pair on TradingView. By integrating key fundamental insights into your strategy, you can make more informed decisions and better navigate the complexities of the Forex market.
Long
by MoonTradingForecast
GBPUSD MULTI TIME FRAME ANALYSISHello 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 price action 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. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Long
by okako_trading
GBPUSD bounces off 100-SMA but bears stay hopefulThe GBPUSD saw its first daily gain in three days on Wednesday, bouncing back from the 100-day Simple Moving Average (SMA). This move shows the 100-SMA support level at 1.2682 is holding strong, and the descending RSI (14) indicates the downtrend is weak. However, the Pound Sterling’s continued dip below the 50-SMA and previous support level near 1.2785-2800, along with bearish MACD signals, keep sellers hopeful. If the price stays above 1.2800, the March peak around 1.2900 and the top of a 10-month-old upward trend channel near 1.3030 will be challenging for buyers. On the other hand, the 100-SMA and 200-SMA are limiting the GBPUSD's short-term decline, with support around 1.2680 and 1.2650. After that, the 50% and 38.2% Fibonacci retracement levels from the pair's July-October 2023 drop, near 1.2590 and 1.2455, will be key for sellers. Overall, Pound Sterling buyers can stay in control as long as the 10-month-long upward trend channel, which ranges from 1.3030 to 1.2440, remains intact. In summary, GBPUSD is expected to test the sellers, but for the bullish trend to continue, it needs to stay above 1.2800.
by MTradingGlobal
GU - Aug 5th - 9th outlook GU - Aug 5th - 9th outlook In Daily perspective, I see price wanna go back to the value area again. ht tps://ww With Daily market structure, price has retraced to discount value, OTE 70-79%, touching ema 89, last remaining imbalance. so this is a buy signal in daily for me. Now it tap nearest supply which is a supply from chain, leaving no imbalance from 1.295. If I have to choose, I gonna look for a long for medium term. And anyone know what's happen in July 25th with such large volume? ht tps://ww There are only 2 red news next week, and this is my plan ht tps://ww
Long
by luiz_ng
6
GBPUSD drops to resistance-turned-support with eyes on Fed, BoEGBPUSD remains pressured after refreshing a three-week low the previous day. In doing so, the Cable pair extends the mid-week retreat from a year-long horizontal resistance while posting the first daily closing beneath the 21-SMA since July 02, 2024. Apart from that, the bearish MACD signals and the RSI line’s hovering around the 50.00 region also suggest the Pound Sterling’s further weakness. However, a previous resistance line stretched from late July 2023, close to 1.2835 at the latest, restricts the immediate downside of the quote. Following that, 50-SMA and a three-month-old ascending trend line, respectively near 1.2780 and 1.2760, will act as the final defenses of buyers before giving control to the sellers. Meanwhile, GBPUSD buyers will need validation from the 21-SMA hurdle of 1.2872 and monetary policy announcements of the US Federal Reserve and the Bank of England (BoE). Even so, the 78.6% Fibonacci ratio of its July-October 2023 downturn and the aforementioned horizontal resistance region, close to 1.2910 and 1.3000 in that order, will be tough nuts to crack for the Pound Sterling bulls. If the Cable pair stays firmer past 1.3000, the previous yearly peak surrounding 1.3145 will be in the spotlight. To sum up, the GBPUSD pair is likely to decline further but the road toward the south appears long and bumpy.
by MTradingGlobal
GBPUSDGBP/USD 1-Hour Analysis: Bearish Continuation with Retest Strategy Chart Overview: This GBP/USD 1-hour chart analysis indicates a bearish continuation pattern with a potential retest strategy. The analysis identifies significant support and resistance zones, highlighting key price action levels and potential price movements. Key Points: Trend Analysis: The chart shows a consistent bearish trend with a series of lower highs (LH) and lower lows (LL). The recent price action indicates a break below a key support level, suggesting further bearish momentum. Support and Resistance Levels: Support: The next key support level to watch is around 1.2830. Resistance: The broken support zone around 1.2900 is now acting as resistance (gray zone). Bearish Continuation Signal: The price has broken below the critical support level around 1.2900, indicating strong bearish sentiment. A potential retest of the broken support level, now acting as resistance, is expected before the bearish move continues. Potential Price Path: The analysis suggests a retest towards the new resistance zone around 1.2900, followed by a bearish continuation towards the next support level around 1.2830. The projected price path is indicated by the downward arrow, illustrating the expected move after the retest. Market Sentiment: The sentiment is bearish given the strong break below the support level and the formation of lower highs and lower lows. Traders should look for confirmation of the bearish continuation with lower highs (LH) and lower lows (LL) to validate the trend. Trading Plan: Look for selling opportunities on pullbacks towards the resistance zone around 1.2900. Consider placing stop-losses just above the resistance level to manage risk. Target the support level around 1.2830 for potential take-profits. This analysis suggests a potential bearish continuation for GBP/USD, with selling opportunities on pullbacks towards the resistance zone. Traders should ensure proper risk management and stay updated with any external economic factors that may influence the price movement.
Short
by harshkjogadia