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GBP/USD_SPT - GBP/USD

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GBPUSD_SPT trade ideas

GBPUSD: A 1HOUR PD ARRAY ANALYSISGBPUSD has been consolidating for over a month now in the daily time frame. And being a day trader i focus on the previous day high and low as they are the most important liquidity areas intraday as the big institutions will be sitting there. So the timeframe i use for intraday is 1 hour time frame, where i look for order block, fair value gap, and short term busyide and sellside liquidity and execute my trade in the 15 min - 1 min range accordingly. currently the swing high and the low of the 1 hour time frame GBPUSD has been marked with their respective ob in the discount and the premium. As of now the price is slightly bullish in this time frame and the price is in the discount near the bullish ob, but as the daily time frame has been consolidating, i dont expect order blocks to be as powerful as they are. From my observation when price consolidates greater reactions can be seen from the old highs and lows which are the areas of liquidity and price might turn around from them and rally in the 1 hour time frame.
by VitalismTraders
1
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: Check the channel price againDear friends, currently the GBP/USD pair continues to trade within an upward channel during the early Asian trading hours on Thursday. The major currency pair has rebounded above the 1.2700 level due to risk acceptance sentiment. However, the release of the US preliminary Q4 GDP growth figures on Thursday could cause market volatility. In the short term, the 4-hour chart indicates a potential downward correction, with a projected retreat towards the support level below 1.2700. Immediate support is located at 1.2680 before reaching 1.2650.
by RKarina
GBPUSD rebounds within bullish triangle as UK, US PMIs loomGBPUSD floats above the 200-bar Exponential Moving Average (EMA) as traders brace for the monthly activity data from the UK and the US early Wednesday. In doing so, the Cable pair reverses the previous day’s losses while staying firmer within a one-month-old descending triangle formation, also known as the bullish triangle. Apart from the pair’s recovery from the key EMA and bullish chart pattern, the upbeat RSI (14) line also favors the continuation of the Pound Sterling’s gradual rebound. However, a clear upside beak of the stated triangle, currently between 1.2600 and 1.2750, becomes necessary to convince the buyers. Following that, the quote’s run-up to the previous monthly high surrounding 1.2830 becomes imminent. However, the bull’s dominance past 1.2830 will enable the pair to aim for the 1.3000 threshold. On the contrary, the 200-EMA level surrounding 1.2660 restricts the immediate downside of the GBPUSD pair ahead of the aforementioned triangle’s bottom line, close to 1.2600. In a case where the Pound Sterling drops below 1.2600, the odds of witnessing a quick fall toward December’s low of around 1.2500 can’t be ruled out. Should the Cable bears keep the reins past 1.2500, the lows marked on November 22 and 17, respectively near 1.2445 and 1.2375, will test the downside momentum. To sum up, the GBPUSD pair buyers flex muscles ahead of the key Purchasing Managers Index (PMI) data for January from the UK and the US.
by MTradingGlobal
GBPUSD: Buy or Sell?Hello everyone, I am delighted to continue our discussion on GBPUSD today. At the opening of the trading session on Monday, GBPUSD continued its upward trend on the 4-hour chart, currently trading at 1.271. The appreciation of the British Pound against the US Dollar may be attributed to the current market sentiment leaning towards risk, which has fueled its recent increase. However, there are still underlying risks that could cause GBPUSD to decline further, as it remains constrained within a long-term downward trend and the Trendline has not yet been broken.
Short
by RKarina
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: recovering againIt's great to see you again and talk about GBPUSD trading today! Currently, GBP/USD has attracted some buying pressure for the second consecutive day at the start of Thursday and seems to continue its good recovery from below 1.2600 or even higher than the day's low. The price is currently trading just below the 1.2680 level and is still well supported by the 1.260 support level, with speculation on the Bank of England (BoE) cutting interest rates early. RKarina expects this pair to return to the 1.278 and then 1.281 highs, what about you?
Long
by RKarina
GBPUSD bears approach key supports as UK, US data loomGBPUSD remains pressured at the lowest level in eight days after breaking a five-week-long trend line support the previous day. Apart from the support break, bearish MACD signals and an absence of oversold RSI also keep the Cable sellers hopeful. With this, the quote’s further downside toward the 1.2600 support confluence, comprising a 50% Fibonacci retracement of July-October downside and 50-SMA, appears imminent. However, the 200-SMA level surrounding 1.2545 appears a tough nut to crack for the Pound Sterling sellers, a break of which will make the pair vulnerable to slump toward the 1.2330-20 support zone comprising multiple levels marked since late May 2023. Alternatively, the GBPUSD pair’s corrective bounce needs validation from the aforementioned previous support line, close to 1.2665 at the latest, to convince the short-term buyers. Following that, a 5.5-month-old horizontal resistance area near 1.2790, quickly followed by the 1.2800 threshold, will test the quote’s further upside. In a case where the Cable buyers manage to keep the reins past 1.2800, the 11-week-long support-turned-resistance near 1.2890 and the 1.2900 round figure will be the last defense of the Pound Sterling sellers. Apart from the bearish technical signals, the comparative economic pessimism surrounding the UK and recent hawkish bias about the Federal Reserve (Fed) also keeps the GBPUSD sellers hopeful as the UK inflation and the US Retail Sales loom.
by MTradingGlobal
GBPUSD: Facing obstacles on the road to recoveryDear friends! Today, GBPUSD is facing some weaknesses in its recovery process. As a result, GBP/USD has dropped to around 1.2680 in the Asian trading session early in the day. The British Pound has lost ground against the US Dollar due to risk aversion sentiment, possibly driven by concerns over political risks dominating market participants' psychology, which acts as a psychological arrow prompting investors to sell GBPUSD and causing this pair to decline. From the 4-hour chart, we can observe that this currency pair has also broken out of the upward trend line, indicating that the price may continue to weaken. What are your thoughts on the GBPUSD trend?
Short
by RKarina
GBPUSD: directly facing the resistance level of 1.2800Dear friends, Overall, GBPUSD had a successful week as the price continued to rise without any significant breakthroughs. The currency pair remained supported as the USD struggled to recover. In terms of long-term trends, this currency pair is currently facing resistance at 1.2800. However, the upward trend is still supported by positive signals from the 34 and 89 EMA lines. On the other hand, the RSI indicates that buyers are no longer eager to break through this resistance level. Therefore, our upcoming target is to sell when the price breaks the trendline.
by RKarina
Supply & Demand Part 1We will talk about ranges, Premium & Discount levels and trading them. I'm going to explain the basics of Supply & Demand simply. This is Part 1 of a 2-part series. We’re going to cover the concept of buying high & selling low, ranges, Premium & Discount zones and taking entries & exits based on what we learned. Buying high & selling low Before we get into the topics, let's quickly understand the concept of buying high and selling low. We'll be using this concept throughout this idea. Why is it good to buy low and sell high? Let's imagine that we're trying to buy & sell a pair of shoes. If you buy at the 0.25 level and price goes up to 0.75, you make a profit. But if you bought at 0.5 and price goes up to 0.75, you would make less profit. If you buy at 0.25 and price goes down to 0, you make a loss. But if you buy at 0.5, you make much more of a loss. In the examples above, we can see that buying low is beneficial because it reduces how much money we lose and at the same time increases how much we can earn. The same logic can be applied to a sell. If we sell high at 0.75, we have less money to lose if price goes to 1 AND at the same time, we have more money to gain if price goes down to 0.25. But if we sell at 0.5, we have more money to lose (if price goes up to 1) and less money to gain (if price goes down to 0.25) The point is that it’s best to sell high and buy low. Range Let’s talk about what a range is. A range is the area between the latest swing high and swing low. A new range is formed when structure is broken and confirmed. Let’s look at how structure is broken. (a bearish structure break) We have our swing high and swing low to the left of the chart. This is currently our range. Then, price pulls back up and closes below the swing low (it breaks structure to the downside). A structure break only happens when a candle’s close is below the last swing low. Always check this on the previous candle and not on the current realtime bar which is forming. The current realtime bar will repaint and we won’t be sure if the close of the candle will actually remain below the last swing low (until the candle has finished forming). Now that our break of structure happened, we have to confirm the new low which just formed. We confirm this low by waiting for price to come up again and close (and not just form a wick) inside the range we had. Now, we know that our new low is confirmed. Once our new low has been confirmed, we can draw our new range. The new range’s top will be the highest high (i.e. the high which caused that confirmed low). The new range’s bottom will be the confirmed low. Let’s look at how a bullish structure break is formed. We have our range to the left of the chart. then, price comes down and then closes above the range. Now, we have an unconfirmed high. To confirm this high, we wait for price to close back inside the range. Once that’s done, we have our new range. Premium & Discount zones To understand Premium and Discount zones, let’s use a fib. The fib is divided into 4 zones: 0%, 25%, 75%, 100% A premium zone is the upper 25% (75% - 100%) of the fib and a discount zone is the bottom 25% (25% - 0%) of the fib. The other area in the middle (25% - 75%) is fair pricing. Aim to buy when price reaches the Discount zone (buy low) and sell when price reaches the Premium zone (sell high). Combining ranges with zones Let’s look at a way we can use what we learned to take entries and exits. For a buy: look for a bullish structure break. Then wait for price to close inside the range (to confirm the bullish structure break). Now, we have a new range. Draw a fib on the new range. Wait for price to reach the Discount zone of that fib. A candle low should be within the discount zone. You can buy there. Exit when price reaches the bottom/top part of the premium zone. If price fails to go down to the Discount zone to give us an entry and instead reaches the Premium zone and goes even higher above the new range, that means that a new range formed and we have to wait for this new range to be confirmed. This new range’s top will be the high that was broken, and the bottom will be the low that caused the move up which broke the high. Wait for price to close inside this new range for it to be confirmed. Then we have to wait for our buy signal again. For a sell: look for a bearish structure break. Then wait for price to close inside the range (to confirm the bullish structure break. That is our new range. Draw a fib on the new range and wait for a candle high to reach within the Premium zone. Sell there. Exit when price reaches the bottom/top part of the Discount zone. If price fails to go up to the Premium zone to give us an entry and instead reaches the Discount zone and goes even lower below the new range, that means that a new range formed and we have to wait for this new range to be confirmed. Our new range’s bottom will be the low that was broken, and the top will be the high that caused the move that broke the low. Wait for price to close inside this new range for it to be confirmed. Then we have to wait for our sell signal again. I hope you find this useful!
Education
by SamaaraDas
GBPUSD: narrow tradeCurrently, GBPUSD continues its upward trend as it surpasses the resistance level of 1.276, marking a 0.13% increase for the day. On the analysis chart, the upward momentum is still strongly supported by an unbroken trend line, and it has become even stronger as the USD is still recovering. RKarina's price target in the near future is 1.28 (A new peak is expected to be established when this pair touches the trend line). What are your thoughts on the trend of GBPUSD?
by RKarina
GBPUSD: Recovering in greenHello dear friends! Today, GBPUSD continues its winning streak as it continues to rise with prices fluctuating around the 1.276 level, marking a 0.21% recovery for the day. The price increase of this currency pair is supported by a weaker US Dollar (USD) and improved risk appetite. Traders are awaiting the US Consumer Price Index (CPI) for December for new momentum, as GBPUSD will face resistance levels at 1.281 and 1.282. What are your thoughts on the future trend of GU? My perspective prioritizes buying orders
Long
by RKarina
My thoughts on GBPUSD 12th Jan 2024GBPUSD sell limit @ 1.2786 SL 1.2806 TP1 1.2766 TP2 1.2746 TP3 1.2726 TP4 1.2688 (Least possible risk per least lot size per entry = -$2) I think the cable will rally to that 30min supply zone above recent highs where retail trader's liquidity also lies. Possibly that liquidity will enable the market makers to buy at a premium then drop to take out the recent lows. Risk:Reward = 5.4. I also think EURUSD will emulate the same movement. EURUSD sell limit @ 1.1009 SL 1.1040 TP1 1.0970 TP2 1.0940 TP3 1.0910 TP4 1.0055 (Least possible risk per least lot size per entry = -$3.1) Don't risk more than 2% of your account balance.
Short
by Jay_Fx_Academy