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U.S. Dollar / Pound Sterling

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USDGBP trade ideas

Analysis of GBPUSDChart Analysis: As per weekly timeframe, it has made a 'Bullish Engulfing' pattern after three consecutive bearish weeks taking support in the pivot line of '1.25566', with RSI above 50 and mildly rising, and above 10 and 20 DEMA. But keeping in mind, there is a rejection around '1.27100' level. Technical Analysis Hawkish stance from BOE, and good monthly numbers favoring USD makes it a tug of war this week. Conclusion We can expect a retest of '1.27100' level, above that next crucial level is at R1 of Pivot line at around '1.26900' level and anything closing below the 10 & 20 DEMA on the daily timeframe can drag it to the bearish zone as it is trading in the mid area of Bollinger Bands and there is no spike in Volumes. Probability of upside to downside - 70:30
Long
by ProsNJit100
3
GBPUSDHello everyone, it's RKarina here again. Overall, GBPUSD continues to trade in an upward trend. So, what factors are driving this upward momentum? Today, the GBP/USD pair achieved modest gains above the 1.2600 level in the early Asian trading hours on Friday. The decline of the US Dollar provided some support for the major currency pair. Currently, GBPUSD is operating near the resistance level of 1.2700, with dynamic support around 1.2680 before 1.2650-1.2660. However, to ensure the safety of your trades, we have recommended a significant support zone around this area, which also coincides with continuous price reaction. When reaching that entry point, we can prioritize buying with an expected increase of 1.3500 and 1.3800.
Long
by RKarina
a good breakout failure peobability in gbp/usdTrading GBP/USD in a range-bound market entails identifying key levels of support and resistance where price tends to fluctuate. When waiting for a second breakout attempt to fail, particularly on the upside, before entering a trade on the downside, a strategic approach is essential. Here's a description of this trading strategy: In a range-bound GBP/USD market, traders observe the currency pair oscillating between established support and resistance levels. These levels represent barriers that price struggles to breach convincingly. The objective is to capitalize on the market's tendency to revert to the mean within this range. Firstly, traders identify the upper and lower bounds of the range through technical analysis, such as plotting trendlines, Fibonacci retracements, or pivot points. These levels serve as reference points for potential entry and exit points. As price approaches the upper boundary of the range, traders remain vigilant for a breakout attempt. A breakout occurs when price surpasses the established resistance level, suggesting potential upward momentum. However, experience shows that initial breakouts often fail to sustain, especially in range-bound markets. Rather than impulsively entering a long position on the first breakout, traders exercise patience and wait for confirmation. They closely monitor price action following the breakout, looking for signs of rejection or inability to maintain upward momentum. If the initial breakout fails, indicated by a swift reversal or inability of price to hold above the resistance level, traders prepare to enter a short position. This failure to sustain the breakout signals a potential shift in market sentiment and the likelihood of a reversal back into the established range.
Short
by jadhaodipak999
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 TRADING PLAN & ENTRY AREAFollowing the recent GBP fundamental data showing that the weakening and worsen condition of their currency, it will be a good time to short this pair. The change of structure confirmed through technical as well when the distribution phase (sideways) was formed and broken. However, we still need to be cautious as there's a lot of mix data for the US economy. Nonetheless, as always, USD always finds a way to strengthen when we thought that it should be otherwise. -Haz
Short
by haekalalattas
1
GBPUSD bears keep 1.2500 on radar, UK inflation eyedGBPUSD licks its wounds around 1.2600 early Wednesday as traders await the UK inflation clues for January. That said, the Cable pair marked a stellar move the previous day, initially rising to a seven-day high before posting the biggest daily loss in a week while reversing from the 50-bar Exponential Moving Average (EMA). It should be noted that Tuesday’s reversal from 50-EMA also defends the Pound Sterling’s early month break of a 12-week-old rising support line, now resistance around 1.2685. Additionally, the bearish MACD signals and an absence of the oversold RSI (14) also keep the pair sellers hopeful. However, a convergence of the 200-EMA and multiple levels marked since early December 2023, close to 1.2520-2500, appears a tough nut to crack for the pair bears. In a case where the prices drop below 1.2500, the mid-November 2023 swing low of around 1.2375 will be in the spotlight. Alternatively, the strong UK inflation numbers could allow the GBPUSD pair to have another battle with the 50-EMA and the aforementioned support-turned-resistance, respectively near 1.2635 and 1.2675. If at all the Cable bulls manage to keep the reins past 1.2675, a downward-sloping resistance line from January 12, close to 1.2770 by the press time, will be the final defense of the pair sellers. Following that, the late 2023 peak of near 1.2830 and the 1.3000 psychological magnet will lure the Pound Sterling buyers. Overall, the GBPUSD pair remains bearish unless staying below 1.2675, especially when the US inflation data appears more lucrative to the Fed hawks. Even so, the Bank of England (BoE) officials have been optimistic of late and hence today’s UK inflation clues will be closely observed for clear directions.
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.
Short
by okako_trading
1
GBPUSD struggles with support-turned-resistanceGBPUSD snapped a two-day winning streak on Thursday while retreating from a previous support line stretched from November 22. It’s worth noting, however, that late Thursday’s corrective bounce in the Cable pair renewed bullish bias about the quote, especially amid the upbeat RSI conditions. With this, the support-turned-resistance line surrounding 1.2650 challenges the Pound Sterling buyers. Apart from that, a convergence of the 100 and 200-bar Exponential Moving Average (EMA), around 1.2660 by the press time, also acts as a tough nut to crack for the bulls. In a case where the prices remain firmer past 1.2660, a quick run-up toward a one-month-old resistance line, close to 1.2770 at the latest, can’t be ruled out. Meanwhile, the GBPUSD pair sellers need validation from the previous day’s low of near 1.2570 to take fresh positions. Even so, a two-month-old horizontal support zone surrounding 1.2520–2500 will challenge the quote’s downside momentum. Following that, the mid-November 2023 swing low of around 1.2370 will act as the final defense of the Cable buyers before giving control to the bears. Overall, the GBPUSD pair buyers flex muscles ahead of the key week comprising a slew of UK and US data.
by MTradingGlobal