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British Pound vs US Dollar

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GBPUSD.P trade ideas

GBP/USD : The pound continues to slipDear friends, Currently, the British Pound (GBP) is stuck in a narrow range as investors seem reluctant to establish new positions before the release of the UK's third-quarter Gross Domestic Product (GDP) data, which is scheduled for Friday at 07:00 GMT. The GBP/USD pair is still struggling as the Q3 GDP report will shape the monetary policy outlook for the Bank of England (BoE) in December. From the 4-hour chart, we can see that the price has broken out of the upward channel, resulting in a significant price increase. At the time of writing, the price is trading around 1.2272, after retreating from 1.2430. Therefore, it is likely that GBP/USD will continue to move lower in the short term during this weekend session.
Short
by Samson-FX
GBPUSD drops towards 1.2200-2190 support confluenceGBPUSD remains on the way to posting a weekly loss after declining in the last four consecutive days, pressured around 1.2220 during early Friday. The Cable pair’s U-turn from the seven-week-old horizontal resistance area and the broadly firmer US Dollar join bearish MACD signals to underpin the downside bias. However, the cautious mood ahead of the key UK GDP and the US consumer sentiment details join a convergence of the 100-SMA, SMA and a fortnight-long rising trend line to challenge the pair bears around 1.2200-2190. In a case where the Pound Sterling drops below 1.2190, the monthly low of around 1.2095 and the late October bottom surrounding 1.2070 could lure the bears before probing them with the previous monthly trough near 1.2035 and the 1.2000 psychological magnet. On the flip side, the 50% and 61.8% Fibonacci retracement levels of the GBPUSD pair’s September-October downside, respectively near 1.2300 and 1.2355, guard near-term recovery. Following that, the aforementioned horizontal resistance surrounding 1.2425-30 will be a tough nut to crack for the Pound buyers. It should be noted, however, that the quote’s ability to stay firmer past 1.2430 enables the bulls to challenge the late September swing high of around 1.2550. Overall, the GBPUSD pair remains on the bear’s radar unless it stays below 1.2430. Hence, any data-driven rebound will be elusive below the stated upside hurdle and needs to be traded with caution.
by MTradingGlobal
GBPUSD: Reduce below 1,2300 when the US dollar stronger!Hello everyone, after a significant breakthrough last week, GBPUSD is currently undergoing corrective trends and showing clear short-term bearishness on the 1-hour chart. The currency pair is trading at the level of 1.229 and has lost 0.06% during the day. The GBP/USD exchange rate depicts a bearish trend in the near future after failing to break the 1.2400 level. As a result, the retracement has surpassed the previous cycle's high of 1.2337, opening up opportunities for deeper losses. Buyers need to hold the price above the highest level on October 24th, which is 1.2288, if they want to maintain hopes of higher prices. Otherwise, this currency pair will continue to extend its losses, with sellers targeting 1.2069, the lowest level on October 26th.
by Samson-FX
GBPUSD: Breakthrough transaction stepsAfter a quiet Asian trading session, GBP/USD regained momentum and reached its highest level in 7 weeks at 1.2400 on Monday. The currency pair has transitioned into an overbought state from a technical standpoint, but buyers may still be interested in the possibility of 1.2400 remaining as support. The US unemployment rate rose to 3.9% in October from 3.8% in September, with non-farm payrolls increasing by 150,000, which was lower than expectations. The US dollar (USD) continued to weaken against its major counterparts following the October employment report, and GBP/USD saw an impressive increase before the end of the week.
Long
by Samson-FX
GBPUSD rebound approaches key upside hurdle on BoE DayGBPUSD picks up bids to extend the previous day’s rebound from an eight-month-old ascending support line as the Cable traders await the Bank of England (BoE) monetary policy decision on Thursday. While recovering from the stated support line, the Pound Sterling respects the upward-sloping RSI (14) line and the bullish MACD signals, which in turn suggests the quote’s further upside. However, a falling resistance line from mid-July, close to 1.2220 by the press time, guards the immediate upside of the pair. It’s worth noting that a clear upside break of 1.2220 will allow the bulls to challenge the previous monthly high of around 1.2340 but a convergence of the 100-day and 200-day Exponential Moving Average (EMA), currently near 1.2400, will be a tough nut to crack for the buyers afterward. On the contrary, the GBPUSD pullback needs validation from the aforementioned support line and 78.8% Fibonacci retracement of March-July upside, close to 1.2080. Following that, October’s bottom of around 1.2035 and the 1.2000 threshold will test the Cable bears before giving them control. In that case, the yearly low marked in March around 1.1800 will be in the spotlight. To sum up, a GBPUSD rebound appears imminent but the BoE’s likely dovish halt and stated EMA confluence prod the bullish bias.
by MTradingGlobal
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
Latest GBPUSD update todayDear readers, At the time of writing, GBPUSD is trading below the 1.2300 level. This currency pair is benefiting from the widespread depreciation of the US dollar and positive changes in risk sentiment. The UK's employment data is not moving the needle on the British pound. PMI is being closely watched. At this stage, the likelihood of GBP breaking clearly above this level is low. On the other hand, if GBP breaks the strong support level at 1.2165, it would mean that it will be difficult for it to rise to 1.2340. Best regards,
by Samson-FX
GBPUSD looks at the Fed's Powell for new motivationDear friends, Currently, after a quiet Asian trading session, GBP/USD has risen higher to the 1.2200 area on Wednesday morning in Europe. The technical outlook still does not show a forming upward trend, but there could be additional gains if this currency pair starts using the support level at 1.2200. If GBP/USD fails to surpass the 1.2200 level, sellers may still be interested and cause this currency pair to retreat to the 1.2130 and 1.2100 levels.
Short
by Samson-FX
GBPUSD - British Pound against USD is at support levelThe British pound is showing signs of slipping after a slight increase yesterday, but I personally believe it will come back strongly with current information related to the European market. More or less the intense war in the Middle East will affect the prices of currencies, and only gold will have stable and sudden growth. British Pound against USD is at support level If the war continues to spread to major powers like America, Russia, and China, World War 3 may break out The European Union (EU) and the United States are planning to create a common tariff area, imposing tariffs on steel and aluminum imports from economies such as China, under their export theme. European Commission on EU-US consensus.
Long
by NicoTradingMaster
The USD simultaneously increased againAccording to CME Group's FedWatch Tool, Fed Funds futures traders are pricing in a 39% chance that the Fed could raise interest rates again later this year, but only a 6% chance of a hike. in the next month. Fed Governor Christopher Waller recently said he wants to monitor whether the US economy continues to grow strongly or weaken this year in the context of the Fed's recent sharp increase in interest rates. Meanwhile, New York Fed President John Williams also said that interest rates will need to remain high for a certain period of time to bring inflation back to the Central Bank's 2% target. Fed Chairman Jerome Powell and several regional Fed presidents will give speeches today, October 19. A series of recent economic data shows that US economic activity has been little changed over the past month, due to the gloom in the labor market, and prices continue to increase at a "modest" pace. . Additionally, the greenback also benefited from its safe-haven status due to concerns about the conflict in the Middle East. On the contrary, the Euro fell 0.38% to 1.0536 USD.
Long
by NicoTradingMaster