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British Pound vs US Dollar

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GBPUSD.P trade ideas

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.
Short
by okako_trading
GBPUSD : Hold breath waiting for a new signal from the marketHello friends! Today, the GBP/USD pair remains on the defensive around 1.2495 at the start of the Asian session. The US dollar continued to gain for the third consecutive day, putting pressure on the recovery of GBPUSD, which appeared unchanged from yesterday. The outlook for further price declines remains intact. Currently, the market is moving into a cautious mode ahead of the Bank of England's (BoE) interest rate decision later today and no changes to interest rates are expected. Additionally, the US weekly initial jobless claims report will be released, followed by a speech by the Federal Reserve's Mary Daly.
Short
by RKarina
100-SMA prods GBPUSD bears on BoE Super ThursdayGBPUSD stays defensive at the lowest level in a week, snapping a two-day losing streak, as the pair traders await the Bank of England’s (BoE) Monetary Policy Announcements, as well as the quarterly monetary policy report that makes the day a “Super Thursday”. It’s worth noting that the 100-SMA puts a short-term trading floor under the prices near 1.2480, especially amid the downbeat RSI suggesting a pause in the previous fall. However, the bearish MACD signals and the quote’s sustained downside break of a two-week-old support line, now immediate resistance surrounding 1.2515, and clear trading beneath a downward-sloping trend line resistance stretched since mid-March, at 1.2585 at the latest, keeps the sellers hopeful. Even if the Pound Sterling gains support from the BoE and rises past 1.2585, the monthly high of 1.2634 will be the last defense of the bears before giving control to the bulls. Meanwhile, a downside break of the 100-SMA support of 1.2480, as well as the BoE’s inability to convince the GBPUSD bulls, will resume a south run targeting the 1.2400 threshold. In a case where the Cable bears keep the reins past 1.2400, the yearly bottom marked in April surrounding 1.2300 and the 61.8% Fibonacci Extension (FE) of the quote’s March-May moves, near 1.2265, will be in the spotlight ahead of the late 2023 bottom of near 1.2067. Overall, the GBPUSD pair remains in a bearish trend on the BoE Super Thursday despite the latest consolidation. Hence, even a surprise rebound should not be considered a bullish sign.
by MTradingGlobal
GBPUSD : New breakthrough has appeared!GBP/USD keeps sliding and trades in the negative territory below 1.2500 after losing nearly 0.5% on Tuesday. The newfound strength of the US dollar, fueled by hawkish remarks from the Fed, weighs heavily on this pair as market focus shifts to the policy announcements from the Bank of England on Thursday. From chart observations, this pair has broken out of the uptrend channel after a prolonged period. Expectations are for further downward adjustments after a retest of the Breakout zone, with the selling strategy continuing to be prioritized during this time.
Short
by RKarina
GBPUSD: Downtrend is still going on!Hello friends! GBP/USD is struggling to maintain its upward momentum and is trading below 1.2550 during the US session. Earlier in the day, disappointing April jobs reports from the US triggered a USD sell-off, pushing the pair to multi-week highs above 1.2600. However, it failed to hold this level and quickly fell to 1,254. On the other hand, the daily chart shows that the sharp rise in GBP/USD broke the 34, 89 EMA, forming a 'shooting star' pattern, opening up opportunities for sellers.
Short
by RKarina
GBPUSD: Technical uptrend continues!Hello everyone, today, GBP/USD rose to levels near 1.2535 early in the Asian session. This move was driven mainly by the significant weakening of the US dollar (USD) after the US Federal Reserve (Fed) decided to keep interest rates unchanged. Analysis from the chart shows that GBP/USD has broken away from the previous downtrend, starting to form a new uptrend with important support around the 1,247 area. Looking ahead, buyers appear to have the upper hand, with the next target being resistance at 1,256. If this uptrend continues, the next level could be 1,269, especially if GBP/USD can turn 1,256 into a new support area.
Long
by RKarina
GBPUSD bull’s journey to retake control appears long and bumpyGBPUSD grinds higher past 50% Fibonacci retracement of October 2023 to March 2024 upside as traders await more clues about Friday’s US employment report for April. In doing so, the Pound Sterling extends the late April rebound from a 61.8% Fibonacci ratio surrounding 1.2365, also known as the golden Fibonacci ratio. That said, the bullish MACD signals and a steady RSI (14) line also underpin the Cable pair’s recovery moves targeting the 200-SMA hurdle of 1.2550. In a case where the quote remains firmer past 1.2550, a five-month-old support-turned-resistance line around 1.2570 will test the buyers before directing them to a downward-sloping resistance line stretched from March, close to 1.2600. Following that, the 100-SMA hurdle of 1.2650 will act as the final defense of the sellers ahead of giving up control. Alternatively, the GBPUSD pair’s pullback could aim for the 50.0% and 61.8% Fibonacci ratios, respectively around 1.2465 and 1.2365. However, Pound Sterling’s fall past 1.2365 will make it vulnerable to drop toward the yearly low marked in April around 1.2300. It should be noted that the pair’s weakness past 1.2300 won’t hesitate to challenge the 78.6% Fibonacci retracement level of 1.2220 and the late 2023 low of around 1.2035. Overall, the GBPUSD pair is likely to extend the latest recovery but there are multiple resistances to challenge the bull’s confidence.
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
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: Recovery again?Hello everyone, here! Today, after a positive close for two consecutive days, GBP/USD has regained momentum and climbed above the 1.2500 level for the first time in nearly two weeks. The short-term technical outlook for this currency pair indicates an upward trend as it has successfully surpassed the resistance level at 1.248 and turned it into a new support level. The price action currently shows a convergence between the two EMA lines and this support level, therefore, the outlook is aimed at higher levels, surpassing the resistance level at 1.256. Wishing you all a happy weekend of trading!
Long
by RKarina
GBPUSD: Looking for a new breakthrough!Hi everybody! After rising above the 1.2450 level during the Asian session on Wednesday, GBP/USD failed to maintain momentum and fell below this mark. However, according to short-term technical analysis, the pair remains in a favorable position as long as the 1.2400 support level remains in place. The weakness of the US Dollar (USD) has become the driving force for GBP/USD to recover after a losing streak. Going forward today, US Durable Goods Orders data for March will be closely watched for fresh dynamics. While the recent figures did not move the market much, the market reaction to Tuesday's disappointing PMI report indicated that weaker figures could weaken the USD and provide further support for the GBP/USD in recovery of upward momentum.
Long
by RKarina