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Gbpusdtrading

GBPUSD: MACD Cross confirms more upsideGBPUSD is bullish on its 1D technical outlook (RSI = 59.696, MACD = 0.006, ADX = 36.278) as it's been inside a Channel Up since the start of the year (January 13th 2025 low). At the moment the 1D MA50 is holding and provides the short term support. The 1D MACD just formed a Bullish Cross, validating the new bullish wave. We are bullish, aiming for another +3.63% HH rise (TP = 1.3600). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
GBPUSD: Potential Pullback Trade Explained 🇬🇧🇺🇸 GBPUSD closed this week, respecting a key daily horizontal support cluster. Analyzing the intraday price action, I spotted a nice double bottom pattern on an hourly time frame. To buy the pair with a confirmation after the market opening, I suggest waiting for a bullish breakout of its neckline. An hourly candle close above will confirm a violation. A bullish move will be expected at least to 1.296 level then. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by VasilyTrader
3
GBPUSD: Channel Up still intact but keep an eye on the 4H MA200.GBPUSD is bullish on its 1D technical outlook (RSI = 59.951, MACD = 0.008, ADX = 32.444) as the dominant pattern remains a Channel Up and despite the consolidation in recent days, the market remains supported over the 4H MA200. If it crosses over the LH trendline, go long in a similar manner as the Feb 13th break out and aim for the 2.382 Fibonacci extension (TP = 1.3200). If on the other hand the price fails and crosses under the 4H MA200, go short and aim for the S1 level (TP = 1.2555). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
GBPUSD: Entered a volatility zone. Sell every spike is best.GBPUSD has turned overbought on its 1D technical outlook (RSI = 71.324, MACD = 0.009, ADX = 38.352) as it just hit the 0.618 Fibonacci retracement level of the September 2024 High. In the meantime, it has crossed over the 1D MA200. With the 1D RSI overbought, the last time this set of conditions emerged was on November 29th 2023. The pair then entered a 3 month period of high volatility and sideways trading before it declined to the 0.236 Fib. The long term trade is short, TP = 1.2500. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
GBPUSD: Channel Down forming a top on the 1D MA50.GBPUSD is neutral on its 1D technical outlook (RSI = 54.465, MACD = -0.003, ADX = 25.916) hitting today its 1D MA50 for the first time after October 9th 2024. By doing so, it reached the top of the 4 month Channel Down and is technically the best level to short. Attention is required as the 1D RSI broke over its 4 month Rectangle, so it may be an early bullish breakout signal, but until we close a candle over the 1D MA50, the trend is bearish and this is the most cost-effective short. The last 0.5 Fibonacci rejection (December 6th) targeted the 1.618 Fibonacci extension. This time we will aim a little higher than that (TP = 1.1950) to match the % decline of the previous bearish waves. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
GBPUSD: Channel Up attempting a 4H MA200 cross.GBPUSD is neutral on its 1D technical outlook (RSI = 49.376, MACD = -0.004, ADX = 36.982) as despite having started a Channel up since the November 22nd bottom, this is after a long term bearish trend that only now will determine if it will switch to bullish or not. Today was in fact the 2nd rejection on the 4H MA200 but at the same time, the 4H MA50 is supporting. This range makes the 4H timeframe neutral as well. If the MA50 continues to hold and the 4H MA200 is crossed with a full candle close, then we will take a short term long, aiming under the 2.382 Fibonacci extension (TP = 1.29000). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
GBPUSD: Buy signal at the bottom of the Rising Wedge.GBPUSD is bearish on its 1D technical outlook (RSI = 34.906, MACD = -0.012, ADX = 45.336) as it almost reached the HL trendline of the Rising Wedge. The technical bottom should start forming now and with the RSI hitting the oversold limit (30.000) on Friday, we can claim that there is a significant upside behind this with limited risk. The similar bottom of October 3rd 2023 targeted initially the 0.618 Fibonacci level. That is our target this time also (TP = 1.03080). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
GBPUSD Analysis: Slightly Bullish Bias on 08/10/2024.In today's analysis of the GBPUSD pair, we anticipate a slightly bullish bias driven by a combination of fundamental and technical factors. As we move through the trading session on 08/10/2024, traders are closely monitoring key economic releases and geopolitical developments that are expected to influence market sentiment. Let’s explore the primary drivers behind this expected bullish movement. Key Fundamental Drivers 1. Hawkish Sentiment from the Bank of England (BoE) The recent comments from the Bank of England (BoE) officials have been hawkish, signaling that further rate hikes could be on the horizon to combat inflation. With UK inflation remaining above target levels, the BoE's focus on tightening monetary policy to bring it down is a key factor supporting the British Pound (GBP). The market is pricing in the possibility of at least one more rate hike in the near future, which adds upward pressure on GBPUSD. 2. US Dollar Weakness Amid Softening Data The US Dollar (USD) has been showing signs of weakness as recent economic data from the US indicates a slowdown in key sectors, particularly the labor market and consumer spending. The Non-Farm Payrolls report released last week missed expectations, leading to speculation that the Federal Reserve may pause rate hikes sooner than anticipated. This dovish sentiment surrounding the Fed provides a tailwind for GBPUSD, as a weaker USD makes the pair more attractive for buyers. 3. Political Stability in the UK Political stability in the UK, especially in comparison to the uncertainties in the US, has helped maintain investor confidence in the British Pound. The UK government’s recent fiscal policy announcements have been well-received by markets, with investors expecting that these measures will support economic growth, adding strength to GBP in the short term. 4. UK Economic Data Today’s release of the UK’s GDP data will be crucial in setting the tone for GBPUSD. Positive GDP growth figures are expected to fuel further optimism around the British economy, reinforcing the bullish momentum for the Pound. Additionally, the services sector PMI data coming in stronger than forecasted last week suggests that the UK economy is performing better than many of its European counterparts. Technical Outlook From a technical perspective, GBPUSD is trading above its 50-day moving average, which is a bullish signal. The pair is also hovering near a key support level of 1.2150, and as long as this level holds, we could see further upside potential. RSI indicators also suggest that the pair is not yet overbought, leaving room for additional gains throughout the trading day. Key Levels to Watch: - Support Level: 1.2150 - Resistance Level: 1.2275 A break above the 1.2275 resistance level could signal further upward momentum, pushing GBPUSD towards 1.2300 in the near term. Conclusion: Slightly Bullish Bias for GBPUSD In conclusion, based on today’s fundamental factors and market conditions, we anticipate a slightly bullish bias for GBPUSD. With hawkish sentiment from the BoE, weakening USD, and positive economic data from the UK, traders can expect the pair to inch higher as the day progresses. Keeping an eye on key levels and economic releases will be crucial for capturing potential trading opportunities. Keywords: GBPUSD, GBPUSD analysis, GBPUSD trading, GBPUSD forecast, Bank of England, GBPUSD bullish, UK inflation, US Dollar weakness, forex trading, GBPUSD technical analysis, GBPUSD support levels, GBPUSD resistance levels, GBPUSD 08/10/2024, GBPUSD outlook, forex trading ideas, forex strategy, forex market analysis, forex trader
Long
by PERFECT_MFG
GBPUSD: Cycle peaked. Expect brutal bearish reversal.GBPUSD is neutral on its 1D technical outlook (RSI = 54.143, MACD = 0.08, ADX = 33.338) but still bullish on 1W (RSI = 64.701). After rising nonstop since April and basically not having a long term correction since October 2023, we expect this bullish cycle of GBPUSD to be coming to an end. The Sine Waves structure is further proof of that, as it is past its top where in June 2021 and April 2018 it peaked. We turn long term bearish on this pair, aiming for the S1 level (TP = 1.2100). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
1
Weekly Round-up: USD/JPY & GBP/USD Market AnalysisHi Traders, Here's a summary of the week so far for USD/JPY and GBP/USD. This week has been packed with economic data releases. Earlier today, the Bank of Japan kept interest rates unchanged but expressed optimism about improvements in the broader Japanese economy. The overall trend for USD/JPY remains bearish, and we anticipate this to persist into the coming week. As for GBP/USD, our short trade closed yesterday, and we are now expecting a continuation of the upward trend, breaking above the momentum high. Have a wonderful weekend!
by Charts247TradingAcademy
GBPUSD: Sell this 2nd 1D MA50 test.GBPUSD is practically neutral on its 1D technical outlook (RSI = 56.00, MACD = -0.001, ADX = 28.566) and testing the 1D MA50 for the 2nd time since May 3rd. Last time it got rejected emphatically and being exactly on the LH trendline, there is very low risk in selling on the current market price. The target is a little over the S2 level (TP = 1.2220). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
1
GBPUSD: Exploring Potential Buy Opportunities (LDN Session)Currently, my focus is on observing the H1 Bullish Order Block, which notably incorporates an embedded m15 Bullish Order Block. This configuration appears robust, particularly due to the presence of inefficiencies such as the Liquidity Void and Fair Value Gap. Upon market movement, my anticipation is for price to gravitate towards the liquidity provided by the m15 buy stops. Ultimately, my strategic objective is aimed at reaching the m15 Bearish Inducement Order Block, which, notably, entails a liquidity void awaiting fulfillment. Wishing you a week filled with profitable opportunities, The_Architect
Long
by The_Archi-tect
GBPUSD: On the bearish threshold. Be ready to short it.GBPUSD is being rejected repeatedly at the top of the multimonth Channel Down but the 1D MA50 is still supporting it. However the squeeze has gotten to narrow and being on a neutral 1D technical setting (RSI = 50.057, MACD = 0.002, ADX = 25.323), we expect a bearish breakout soon below it. The similarities of the 1D RSI with last August, show that there is significant downside potential. We will short if we do get a 1D candle close under the 1D MA50 and target the S2 level (TP = 1.2230). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
GBPUSD: Consolidation and Complete Indecision 🇬🇧🇺🇸 Even though GBPUSD is trading in a bullish trend since October, the pair is in a deep consolidation, the last 3 weeks. The pair is currently stuck within a horizontal range on a daily. Depending on the reaction of the price to its boundaries, I see 2 potential scenarios. Bullish Scenario If the price breaks and closes above 1.283, we can anticipate a movement higher to 1.294 resistance. Bearish Scenario If the price violates 1.26 support and closes below that on a daily, a bearish continuation may follow to 1.255 level. Because the long-term trend is bullish, I remain bullish biased. Chances will be high that the resistance of the range will be reached. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
GBPUSD: Sell opportunity under this Channel Up.GBPUSD has been caught up between two long term patterns, a Channel Up since December 2022 and then a Channel Down that emerged after the July 14th 2023 High. Right now it is on the rising wave (dashed Channel Up) of the Channel Down and on the November 29th High got overbought on its RSI (now balanced with RSI = 58.041, MACD = 0.009, ADX = 28.423). Our intention is to get on a validated short if the price crosses under the Channel Up and target the S1 level (TP = 1.2200). This setup will be invalidated if the price crosses over the R1 level. See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
GBPUSD: Buy opportunity on extremely oversold levels.GBPUSD hit the bottom of the prolonged Channel Down pattern, reaching extreme oversold technical levels on the 1D timeframe (RSI = 21.119, MACD = -0.012, ADX = 59.945). The 4H MACD is approaching the formation of a Bullish Cross, and prior price action shows that when formed this low, it always rebounds and hits at least the 1D MA50. We are on an early long trade, targeting the course of the 4H MA50 (TP = 1.2275), even though a Channel Down top extension can even reach as high as 1.2425. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
9
GBPUSD: Channel Up broken downwards. Bearish mode right now. GBPUSD crossed under its four month Channel Up pattern, as well as closing under the 1D MA50, thus turning the 1D timeframe bearish (RSI = 43.717, MACD = -0.001, ADX = 34.501). Currently this is a sell signal, targeting the 1D MA100 (TP = 1.2625). Every Support (S) broken, will be a sell signal for the next one. We are buying only if the price crosses over the 0.618 Fibonacci level or the 1D MACD completes a Bullish Cross. In both events, our target will be the 1.382 Fibonacci extension (TP = 1.3335). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
7
GBPUSD: Megaphone pulling back. Chance to buy the dip.GBPUSD is trading inside a Bullish Megaphone pattern after the March 8th bottom with the 1D timeframe still bullish (RSI = 61.970, MACD = 0.007, ADX = 32.900) despite the fact that the price has been on a pullback since the June 16th high. This is because the technicals were previously overbought and the harmonization process is longer. Technically when the RSI turns neutral it will start being a buy opportunity again. The closer to the 1D MA50, which is now at the bottom of the Megaphone pattern, the better. We will buy and target the top of the Megaphone again (TP = 1.3000) before it eventually tests the R1 (1.3090) after the next pullback. Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
9