Black Friday saleUp to 70% OFF

GBP/USD_TOM - GBP/USD

No trades
See on Supercharts
Overview News
Ideas
Discussions Seasonals Economic Calendar

GBPUSD_TOM trade ideas

GBPUSD remains firmer as traders await UK GDPGBPUSD’s rally post-US inflation data enabled it to poke the 100-DMA for the first time since late February. The pair’s further upside, however, appears limited as bulls brace for the UK’s Q3 GDP amid fears of witnessing a clear sign of recession. That said, the 100-DMA hurdle of 1.1665 and the upper line of a five-week-old bullish channel’s resistance line, near 1.1750, could challenge the quote’s immediate advances. Following that, the 78.6% Fibonacci retracement level of August-September downside and the early August low, respectively near 1.1875 and 1.2000, could entertain the buyers. Meanwhile, pullback moves need a daily closing below the two-month-old resistance line, close to 1.1585 at the latest, to tease GBPUSD sellers. Even so, a convergence of the 50-DMA and 50% Fibonacci retracement level near 1.1330 will be a tough nut to crack for the bears. It’s worth observing that the previously stated bullish channel’s lower line, near 1.1210, appears the last defense of the buyers, a break of which won’t hesitate to challenge October’s low surrounding 1.0950. Overall, GBPUSD is on the bull’s radar ahead of the key UK GDP data. However, the quote’s further upside appears limited.
by MTradingGlobal
SHORT TERM GBPUSD BUY PREDICTION SHORT TERM GBPUSD BUY PREDICTION Price can be go upside from OB-BUY level or from POI-BUY level. Lets wait for price reaction on our price action analysis. If you found confirmation candle pattern like morning star, engulfing , bullish hammer then take entry with 20 pip SL and 50-80 pip TP and after that set your mindset like "i will close my entry with SL or TP". SL will give small loss but TP give you more profit. Must stick with SL and TP. Best of luck | God bless.
by TradingPoint_
GBP/USD long analysisas you know that market has opened gap down in GBP/USD so this is a gap trading strategy where market most probably fill the imbalance and it can either continue trend or might reverse. in this scenario market is in uptrend after hitting a 45m demand and also broken significant structures showing buying pressure as you can see that market came down fill the inefficient OB and started going shows that market is still strong and want to continue uptrend to fill the higher targets . so the trade idea here is that i want to see market to form new HH and then i will look for inefficient candle where market most likely could reverse and place a buy limit there for targets first will be the gap to be filled and above that liquidity was there leading into a heavy supply
Long
by Rohit_Fx
1
GBPUSD must defend 1.1360 level to keep bears away on BOE dayGBPUSD grinds lower so far during November, after posting the biggest monthly gains since July 2020. The intraday moves are slightly positive even if the bulls seem to run out of steam ahead of the Bank of England’s (BOE) monetary policy announcements on Thursday. That said, the buyers are safe unless the quote trades beyond the 1.1360 support confluence including the 50-DMA and a lower line of the monthly ascending triangle. Following that, a slump toward October’s low near 1.0920 can’t be ruled out. During the fall, the 1.1000 psychological magnet may offer an intermediate halt whereas 1.0830 and 1.0680 might entertain the bears afterward, before directing them to the all-time low marked in September near 1.0350. Meanwhile, recovery moves could initially aim for the stated triangle’s resistance line, close to 1.1700 at the latest, before challenging the descending resistance line from late May, around 1.1750 by the press time. In a case where the GBPUSD prices remain firmer past 1.1750, the odds of witnessing a run-up toward the 1.2000 psychological magnet can’t be ruled out. It’s worth noting that the 61.8% Fibonacci retracement level of the May-September downside and the late August swing high, respectively near 1.1775 and 1.1900, may act as buffers during the rise from 1.1750 to 1.2000. Overall, GBPUSD remains on a bullish trend and the BOE is also expected to try all the means to regain the market’s confidence. However, it's what they actually and how it is perceived that will determine the Cable pair’s further directions.
by MTradingGlobal