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GBP/USD LMAX

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GBPUSD_LMAX trade ideas

GBPUSD bounces off 200-SMA ahead of UK PMIsGBPUSD snapped a three-day winning streak the previous day as the UK’s Autumn Statement failed to impress Cable buyers despite offering tax cuts and higher wages. The reason could be linked to the mixed economic outlook for Britain and a corrective bounce in the US Treasury bond yields. However, the 200-SMA defends the Pound Sterling buyers so far on the Thanksgiving Holiday in the US, as well as ahead of the UK’s release of preliminary S&P Global/CIPS PMIs for November. It’s worth noting, that the upbeat RSI (14) line and the bullish MACD signals enable the pair buyers to keep the reins within a one-month-old rising channel, currently between 1.2330 and 1.2620. However, the RSI conditions are nearly overbought and hence the late June’s low and May’s peak, close to 1.2590 and 1.2680 in that order, appear tough nuts to crack for the bulls past 1.2620. Meanwhile, a daily closing beneath the 200-SMA level of 1.2450 needs validation from the downbeat prints of the UK PMIs to lure the GBPUSD sellers. Even if the quote slides beneath the 1.2450 key SMA support, the aforementioned bullish channel’s bottom line of around 1.2330 will challenge the Cable bears. It’s worth noting, however, that the Pound Sterling’s rejection of the bullish chart pattern, by a daily closing below 1.2330, will make it vulnerable to drop towards the previous monthly low of around 1.2035 and then to the 1.2000 psychological magnet, before targeting the yearly low of around 1.1800.
by MTradingGlobal
GBPUSD fades bounce off 21-SMA, UK inflation, US inflation eyedGBPUSD snaps a two-day winning streak with mild losses around 1.2270 as traders await the UK employment and the US inflation data on early Tuesday. In doing so, the Cable pair fades bounce off the 21-day SMA. However, the absence of an overbought RSI (14) line, bullish MACD signals and the quote’s defense of the early-month resistance breakout keeps the buyers hopeful. With this, the tops marked in October around 1.2290 and the monthly high of near 1.2340 could lure the Pound Sterling bulls during a fresh run-up. However, the 200-day SMA level surrounding 1.2440 appears a tough nut to crack for the bulls, a break of which won’t hesitate to direct the prices toward the August month’s swing low of around 1.2550. It’s worth noting, however, that the fundamentals are against the bullish technical signals considering the UK’s economic weakness vis-à-vis the US. Even so, the 21-day SMA and the previous resistance line, respectively near 1.2200 and 2120, restrict the short-term downside of the GBPUSD pair. In a case where the Pound Sterling bears dominate past 1.2120, a five-week-old horizontal support near 1.2070, the previous monthly low of near 1.2035 and the 1.2000 psychological magnet could test the sellers before giving them full control. Overall, the GBPUSD pair is likely to edge higher unless the scheduled data posts too disappointing numbers.
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 ends the price increaseThe GBP/USD pair has entered a phase of decline and is oscillating within a narrow range around the 1.2220-1.2225 area. The US Dollar (USD) managed to maintain its upward momentum overnight, inspired by comments from Federal Reserve Chairman Jerome Powell, which turned out to be the main factor acting as resistance to the GBP/USD pair. On the other hand, the British Pound (GBP) is weighed down by bleak economic prospects in the UK and increasing expectations that the Bank of England (BoE) will soon begin cutting interest rates, serving as a psychological arrow for investors to sell off the GBPUSD pair. On the chart, this currency pair has surpassed the support area at 1.225, and a downward correction could bring the pair back to lower levels along the expected trendline at around 1.214 after a short-term price increase adjustment.
Short
by Samson-FX
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