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Gbpusdtradingidea

GBP/USD Faces Imminent Challenges Amid Negative OutlooksThe GBP/USD currency pair is likely to face a downtrend due to contrasting economic conditions in the U.S. and the UK. Positive U.S. data boosts the dollar, while poor UK economic indicators weaken the pound. The Bank of England may not hike rates, unlike expectations of the Federal Reserve pausing its rate-hiking trajectory. Traders should eye key data releases and consider short positions. TRADE IDEA DETAILS CURRENCY PAIR: GBP/USD CURRENT TREND: Bearish TRADE SIGNAL: Sell 👉ENTRY PRICE: 1.2400 ✅TAKE PROFIT: 1.2305 ❌STOP LOSS: 1.2450 ANALYSIS: Both technical and fundamental indicators suggest a bearish outlook on GBP/USD. The currency pair has breached its 200-day SMA and failed to hold above key support levels. Recent U.S. economic data boosts the dollar, whereas poor UK economic indicators apply downward pressure on the pound. A break below May's low of 1.2305 could open the door for further losses. FINAL THOUGHTS: Given the bearish indicators and contrasting economic conditions between the U.S. and the UK, a short position appears to be the most suitable strategy for trading GBP/USD at this moment. Close attention should be paid to forthcoming economic releases for any signals that might necessitate a trade adjustment.
Short
by RichDadph-FX
GBPUSD trading plan for next weekGBPUSD has been rejected from the weekly GAP level and has created a lower high under the weekly gap level. at the same time, this instrument has just broken the daily resistance line @ 1.3902 and close below. therefore, the swing high of down trending market is still valid and it is possible that this instrument may create a lower low and a possible short target can be @ 1.3643 as this is the neck line of double bottom formation of an upward move. If you find value in this analysis please press thumbs up and leave a comment below. Thank you.
Short
by ForexWizard01
GBPUSD - Potential intraday sell trade setup GBPUSD started its selloff on Fridays session as USD strength hit the market on better then expected Non-Farm payroll data. On today's market open, being Monday the liquidity is usually thinner so we have seen price retrace a little higher which could possibly set up a better entry for a potential continuation move lower on GBPUSD. On the 15 Minute chart, we have marked out a tight selling zone in price that we want to keep an eye on for if price can make its way up there today we could possibly see a rejection lower. The first level is the 1.3097 mark. This level is a liquidity gap origin where price started its spike move lower. Most of the volume came from this point so this area could cause price to trade lower. This level can also be seen on the 1 Hour chart from the top of the body of the candle. The level above that is the 1.3100 big figure which can always be a potential psychological level for additional order flow resting there. Lastly the highest level is the 5 Minute chart liquidity gap origin set at the 1.3106 level. All of these levels are very close to each other so we will be watching the entire zone for a possible rejection in price, if price does reach this zone we want to see on a minimum 5 Minute chart any potential bearish price patterns complete which can increase the probability. If price breaks through these levels for any reason this trade is void and no action will take place. We need price to stop here and show weakness.
Short
by DavidVillagra
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