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GBP/USD_TOM - GBP/USD

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GBPUSD_TOM trade ideas

GBPUSD ANALYSIS OVER H4 CHART.The 4-hour chart shows that the GBP/USD outlook is negative as it continues to trade below the significant 100-period Exponential Moving Average (EMA). The Relative Strength Index (RSI), which is now hovering around 37.00 and indicates that the downside is the path of least resistance, supports the downward trend. 1.2681, the low of May 30, will be reached with a clear break below the psychological barrier at 1.2710 and the lower bound of the Bollinger Band. The next level of contention is further south at 1.2645, a low of May 17, and then the round number is 1.2600. Looking for Selling Opportunity in it., Trade with Proper Risk Management.
Short
by charliedavies770
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 ANALYSIS OVER H1 CHART.GBP/USD Forecast: Pound Sterling faces stiff resistance at 1.2800 ahead of US NFP At roughly 1.2800, the midpoint of the ascending regression channel corresponds to significant resistance. If that level is broken and the pair begins to use it as support, technical buyers may become interested. In this case, the static level of 1.2850 may serve as a temporary barrier prior to the rising channel's top limit of 1.2900. The 4-hour chart's 50-period Simple Moving Average (SMA) may serve as the initial level of support before 1.2730 (the lower bound of the ascending channel and the 100-period SMA) and 1.2700 (the static level and psychological level), respectively, on the downside.
Short
by charliedavies770
3
GBPUSD ANALYSIS OVER H1 CHART.GBP/USD Forecast: Pound Sterling faces stiff resistance at 1.2800 ahead of US NFP At roughly 1.2800, the midpoint of the ascending regression channel corresponds to significant resistance. If that level is broken and the pair begins to use it as support, technical buyers may become interested. In this case, the static level of 1.2850 may serve as a temporary barrier prior to the rising channel's top limit of 1.2900. The 4-hour chart's 50-period Simple Moving Average (SMA) may serve as the initial level of support before 1.2730 (the lower bound of the ascending channel and the 100-period SMA) and 1.2700 (the static level and psychological level), respectively, on the downside.
Short
by charliedavies770
GBPUSD crosses key resistance to refresh 11-week highGBPUSD rises to the highest level since mid-March by crossing an 11-month-old descending resistance line, now immediate support near 1.2800. The bullish MACD signals and the Pound Sterling’s ability to trade successfully beyond the 100-SMA also underpin the upside bias. It’s worth noting, however, that the nearly overbought RSI (14) line challenges the quote’s further advances, highlighting the yearly peak marked in March around 1.2895, quickly followed by the 1.2900 threshold, as the key upside hurdles. In a case where the Cable remains firmer past 1.2900, the 1.3000 psychological magnet will be the last defense of the bears before directing buyers toward the late 2023 peak of surrounding 1.3145. Conversely, a daily closing beneath 1.2800 will defy the GBPUSD pair’s latest resistance break. The same could direct the sellers toward a 61.8% Fibonacci retracement of the July-October 2023 downturn, near 1.2720. Even so, the Pound Sterling bears need to wait for a clear downside break of the six-week-old rising support line, close to 1.2655, as well as the 100-SMA level of 1.2635, to retake control. Should the Cable drop beneath 1.2635, it becomes vulnerable to drop toward February’s low marked around 1.2520. Overall, GBPUSD gains the buyer’s attention as it clears the key upside hurdle. However, the room toward the north appears limited.
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
Overbought RSI, 1.2810 hurdle will test GBPUSD bullsGBPUSD rises for the third consecutive day while refreshing the two-month high. In doing so, the Cable pair cheers a pullback in the US Dollar, as well as the recent hawkish commentary from the Bank of England (BoE) officials. However, the overbought RSI (14) conditions will join a downward-sloping resistance line from July 2023, close to 1.2810 by the press time, to test the buyers. In a case where the quote remains firmer past 1.2810, the yearly high marked in March around 1.2895, quickly followed by the 1.2900 threshold, will precede the 1.3000 psychological magnet to attract the bids. Alternatively, the 61.8% Fibonacci retracement of the GBPUSD pair’s July-October downside, near 1.2720, acts as immediate support to watch during a fresh pullback. Following that, April’s high near 1.2710 and the 100-SMA level surrounding 1.2630 should lure the Pound Sterling bears. It’s worth noting, however, that the Cable pair’s bearish trend remains elusive unless witnessing a daily closing beneath a convergence of the 50-SMA and a five-week-old rising support line, close to 1.2580 as we write. Overall, the GBPUSD pair marches toward the key upside hurdle as most traders return to their desks after a long weekend in the US and the UK.
by MTradingGlobal
GBPUSD bulls jostle with key upside hurdles within rising wedgeGBPUSD struggles to extend the biggest weekly gains since early March while confronting a five-week-old horizontal resistance area surrounding 1.2700-2710 early Monday. In doing so, the Pound Sterling takes clues from the overbought RSI (14) and the sluggish MACD signals while hovering near the upper end of the one-month-old rising wedge bearish chart formation. It’s worth noting that the pair’s upside clearance of 1.2710 won’t be an open invitation to the Cable buyers as the stated wedge’s top-line surrounding 1.2720 will test the upside momentum. Following that, the quote’s advances toward the late March high of near 1.2800 and then to the yearly peak of around 1.2895 can’t be ruled out. It’s worth mentioning, however, that the oscillators suggest a pullback in the GBPUSD price and hence a horizontal resistance area comprising the tops marked since early May, close to 1.2635-45, gains the market’s attention. In a case where the Cable prices drop beneath the 1.2635, the 50% Fibonacci retracement of March-April fall, surrounding the 1.2600 threshold, will lure the sellers. Above all, a convergence of the 200-bar Exponential Moving Average (EMA) and the aforementioned rising wedge’s lower line, close to 1.2565-60, appears a tough nut to crack for the pair sellers, a break of which will confirm the bearish chart pattern suggesting a theoretical fall targeting the area surrounding mid-1.2100s. In summary, the GBPUSD pair will likely witness a pullback in the prices but the bears need validation from the 1.2565-60 and the UK inflation/PMI data.
Editors' picks
by MTradingGlobal
2