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British Pound / U.S. Dollar

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GBPUSD trade ideas

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
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 view!The dollar climbed on Friday and was set to snap a two-week streak of declines as a worldwide cyber outage that affected banks, airlines and broadcasters unnerved investors, although volatility in the currency markets was largely contained. A software update by global cybersecurity firm CrowdStrike CRWD crippled industries from travel to finance before services started coming back online after hours of disruption, highlighting the risks of a global shift towards digital, interconnected technologies. The dollar index was on track for its second s
Short
by FXBANkthe8055
GBPUSD sellers push price below risingThe GBPUSD moved higher yesterday, reaching its highest level since July 18, 2023, with a peak at 1.3043 before slowing. This move pushed the price above the July 28 high of 1.2995 and the psychological resistance at 1.3000. Today, however, the price has rotated lower, falling back below both the 1.3000 and 1.2995 levels, indicating a weakening in the bulls' control. Recently, the price broke below the rising 100-hour MA (currently at 1.29819). Previously, on July 9 and July 10, the price dipped below this MA but quickly rebounded. The key question today is whether the price can stay below this MA for a longer period and continue to decline.
by FXBANkthe8055
GBPUSD bulls run out of steam near 1.3000, UK inflation eyedGBPUSD seesaws at the highest level in a year ahead of the UK’s monthly Consumer Price Index (CPI) data for June. In doing so, the Cable pair justifies the overbought RSI (14) line as buyers struggle around a one-year-old horizontal resistance zone, close to 1.2995-3000. It’s worth noting, however, that the bullish MACD signals and the quote’s sustained trading beyond a downward-sloping resistance line from July 2023, now support around 1.2840, keeps the bulls hopeful. Even if the pair drops beneath the 1.2840 resistance-turned-support, the 200-day Exponential Moving Average (EMA) level of 1.2627 will be the last defense of the bulls. It should be observed that the 78.6% and 61.8% Fibonacci retracements of the quote’s July-October 2023 downturn, respectively near 1.2910 and 1.2720, are additional downside filters to watch during the bear run. Alternatively, GBPUSD bulls need validation from the upbeat UK inflation clues and the 1.2995-3000 upside hurdle to keep the reins. Following that, the Pound Sterling could rise toward the previous yearly high of 1.3142. However, the 1.3100 threshold may act as an intermediate halt during the rise. In a case where the quote remains firmer past 1.3142, the late 2021 swing low of around 1.3150-55 and the 1.3200 round figure can test the bulls before directing them toward the January 2022 low of near 1.3355. Overall, GBPUSD appears overdue for a pullback but the bullish trend could remain intact.
by MTradingGlobal