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British Pound vs US Dollar

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GBPUSD.P trade ideas

GBP/USD: New technical and volatility forecastOn Tuesday, GBP/USD recorded a bullish rally, reaching a high of 1.2670. However, this upbeat event did not last, and the pair lost its upward momentum in the second half of the day, when it finally traded below 1.2650 light to Europe Wednesday. Despite signs of technical indicators suggesting an increasingly strong bearish trend, the price currently remains stable, mainly hovering around 1,262. It seems that the sellers are cautious and do not want to connect with the bearish trend depth below 1.2600 without large fundamental changes supporting the move. Meanwhile, the US Dollar was able to gain recovery strength against other majors in the second half of Tuesday, supported by cautious sentiment and strong February Durable Orders data. than expected, the recovery mechanism of this pair is limited. From a technical analysis perspective, the GBP/USD pair continues on a downward trajectory with a small retracement towards the 0.618 Fibonacci zone. The target has been shortened to 1,252, suggesting the possibility of a bearish trend continuing. Given the current situation, market participants need to take care of a solid base, pay attention to all small variations and be ready for strategic adjustments in accordance with market developments.
by RKarina
GBPUSD sellers need validation from 1.2565 and UK/US GDPGBPUSD prints mild losses around 1.2630 while paring the first weekly gains in three, so far, as traders await Thursday’s final prints of the UK and US Gross Domestic Product (GDP) for the fourth quarter (Q4) of 2024. In doing so, the Pound Sterling struggles to defend the previous week’s rebound from the 200-bar Exponential Moving Average (EMA) amid downbeat RSI (14) line. However, the bearish MACD signals and the Cable pair’s sustained trading beneath the convergence of 50-EMA and previous support line stretched from early February, around 1.2680 at the latest, keep the sellers hopeful. That said, the quote needs to provide a daily closing beneath the 200-EMA level of 1.2565 to confirm the further downside. Following that, the yearly low of 1.2518 and December 2023 bottom surrounding 1.2500 will act as the final defense of the bulls. On the flip side, a daily closing beyond the 1.2680 resistance confluence comprising the 50-EMA and the previous support line could recall the GBPUSD pair buyers. Should the quote remain firmer past 1.2680, the 15-week-old horizontal resistance zone will challenge the bulls around 1.2795-2805. In a case where the Pound Sterling rises beyond 1.2805, the yearly peak of 1.2893 and the 1.3000 psychological magnet will be in the spotlight. Overall, the GBPUSD pair remains bearish ahead of the key UK/US GDP data but the downside room appears limited.
by MTradingGlobal
GBPUSD recovered againHello wonderful people! Let's dive into GBPUSD insights today. In today's North American trading session, the British Pound is making a modest comeback against the US Dollar, thanks to speculation that the Federal Reserve may cut interest rates in June. At this time, GBP /USD is trading at 1.2657, marking a 0.16% gain on the day. Essentially, GBP/USD is forming a 'bullish harami' pattern, hinting at potential trends ahead. To confirm a trend reversal, it needs to clear the 1.2679 mark, announcing targets at 1.2700, followed by the 1.2803 peak. Conversely, a slide below the 1.2591 support could negate this pattern, potentially extending losses. What are your views on future steps?
by RKarina
GBPUSD continues to bounce back!Hello dear friends! GBPUSD is showing signs of recovery this Monday, bouncing back after a significant drop at the end of last week. The recovery started when it touched the Trendline, although the overall trend is still bearish due to the momentum the US Dollar (USD) has gained from Wall Street activities, despite the declining interest rates that have reinforced the potential recovery of this currency pair. In the short term, I lean towards a buying strategy, aiming for the resistance level at 1.267. What about you? Do you think now is a good time to buy?
Long
by RKarina
GBPUSD: A SHORT TRADE POST MARKET MOVE ANALYSISthe 1 hr time frame: the price has been making aggresive lower lows and lower highs. it has been taking sellside liquidity with a lot of fvg. So i just followed the trend and anticipated the price to make further lowers lows and hunt further sellside liquidity on the downside the 15 min tf: the price made a short term higher high and higher low and then hunted a few buyside liqudity. the price then suddenly trapped the buyers when then bought around the previous high and clear liquidity sweep was done. as soon as the 1 min price action made a bearish choch i made the entry and targeted the equilibrium of the whole upside 15 min move and the target had been hit
by VitalismTraders
GBPUSD: Price channel not broken yet!The GBP/USD has risen above the 1.2700 level, recovering from a two-week low below 1.2670 on Tuesday. Investors are cautious about taking significant positions ahead of the policy meetings of the Fed and BoE, causing this currency pair to struggle to find a clear direction. Furthermore, the widespread strength of the US dollar (USD) continues to weigh on this currency pair ahead of the policy decisions of the Federal Reserve (Fed) and the Bank of England (BoE). With the yield on the 10-year US Treasury bond holding above 4.3% after rising over 5% last week, support for the USD remains strong. As GBP/USD is still trending downwards, further price declines may be imminent!
Short
by RKarina
GBPUSD: Bounces back after a series of losses?The GBP/USD pair gained momentum in the early hours of Thursday's Asian trading session. This increase was driven by the weakening of the US dollar following Federal Reserve Chairman Powell's cautious press conference. Additionally, the 1.2760 level, representing the 0.618 Fibonacci retracement of the latest uptrend, is currently seen as the initial support level reinforcing the pair's upward progress. There is a possibility of immediate breakthrough of the resistance level at 1.281, with the goal of reaching the peak at 1.289.
Long
by RKarina
GBPUSD bulls keep eyes on 1.2900 and BoEGBPUSD bulls take a breather at a weekly high, after rising the most in a fortnight the previous day, as traders await the Bank of England’s (BoE) monetary policy announcements on Thursday. Also important will be the preliminary UK S&P Global/CIPS PMIs for March. That said, the quote’s successful break of a two-week-old descending resistance line, now support, as well as the 50-SMA, joins the bullish MACD signals to keep the buyers hopeful. However, a horizontal resistance area comprising tops marked since March 08, close to 1.2820-25, will join the overbought RSI line to challenge the Pound Sterling’s further upside. In a case where the Cable pair remains firmer past 1.2825, the odds of witnessing a quick run-up toward the monthly high surrounding 1.2900 can’t be ruled out. On the flip side, the 50-SMA and the aforementioned resistance-turned-support line could restrict the short-term downside of the GBPUSD pair to around 1.2760 and 1.2740 respectively. Following that, a convergence of the 200-SMA and a five-week-old rising trend line, near 1.2670 by the press time, will be a tough nut to crack for the Cable sellers. Should the quote remain bearish past 1.2670, the monthly low of around 1.2600 and the previous monthly bottom surrounding 1.2520 will be in the spotlight. To sum up, the US Federal Reserve’s (Fed) dovish halt allowed GBPUSD to cross the short-term upside hurdle and lure the buyers ahead of the key UK PMIs and the BoE monetary policy decisions. It’s worth noting that the BoE isn’t expected to offer any change in the current monetary policy but can push back the rate cut bias toward late 2024 and help the British Pound (GBP) to defend the latest run-up.
by MTradingGlobal
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: A POST MOVE ANALYSISToday, to say the truth, i was actually looking for bullish entries but the market actually showed me the bullish signs were actually a trap why did i go bullish: because the 1HR TF price, made a change of character from bearish to bullish by making a break of structure to the upside. it actually took a buyside liquidity with small fvg. but what i did not notice was that, there was an unmitigated bearish ob above that and the price fell directly from that ob. As i was bullish, i did not notice that and missed the trade on the bearish side. but i took a small 1 min scalp on pullback, entry on target 1( which i consider to be risky and i will not recommend it) and took my profits near the target 2.
by VitalismTraders
GBPUSD: A POST MOVE ANALYSISthe 1 hour time frame: the price has been taking the sellside liquidity with fvg, indicating that the price wants to hunt further in the downside liquidity, meaning that the trend is bearish in this time frame which is, the higher time frame bias is bearish. 15 min time frame: the price here has been making a counter trend in the view of the higher time frame, so we the trade was taken when the 15 min tf price made a choch and then sweeped liq, the entry was taken there and the target was set near the nearest 15 min sellside liq which is at 1:2.5 but the trade was closed at 1:3
by VitalismTraders
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