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Gbpusdanalysis

120+ Pips profit secured, more uptrend in GBP/USD?Hello traders, in our idea published yesterday, we advised buying GBP/USD@1.2540 zone as it was a support level. Currently, with price at 1.2661, the buy trade is in over 120 pips profit .( We have linked the previous idea below for you to cross-check) Now, let us take a look at the daily chart. We can clearly see that price has climbed back above the 100-day EMA level. This is a bullish sign The immediate resistance now lies at the 1.2670 level, which if broken would take the price towards 1.28. Our plan is to keep holding our buys from 1.2540 level and in case there is another dip, we will load some buys again.
Long
by KaltoireCapital
2
GBP/USD back to support level, price may rebound a bitHello traders, as I had predicted a week ago, GBP/USD fell after hitting the 1.28 resistance level. Currently, price is back at the 1.2530 zone. Please note that, there is a likelihood of further rebound in GBP/USD . Price has already rebounded more than 40 pips. We have already bought GBPUSD 1.2540 with initial target at 1.2650 If price dips again, I recommend traders to buy GBPUSD@1.2520-1.2540 with Stop loss under 1.25 and ititial TP at 1.2650 However, a fall below the 1.25 level would be bad for the bulls, so I advise everyone to apply proper money management while buying
Long
by KaltoireCapital
11
GBPUSD: Bullish Potential Post-Harmonic Pattern FormationThe GBPUSD currency pair has recently completed the formation of an XABCD harmonic pattern, with a notable rejection observed at point D around 1.2580. This rejection signifies a potential reversal in the price action. Presently, the pair is consolidating within this region, suggesting a period of indecision among market participants. Our analysis indicates a bullish bias for GBPUSD, contingent upon a breakout above the 1.2660 price range. A decisive breach of this level could signal the initiation of an upward momentum, prompting a favorable entry opportunity. For traders considering a position, we recommend entering upon the retest of the 1.2660 level, with a strategically placed stop loss at 1.2550 to manage risk exposure effectively. In terms of profit targets, we propose two potential exit points: TP-1 at 1.2770 and TP-2 at 1.2880. These targets align with key resistance levels and offer favorable risk-to-reward ratios for prudent traders. It is important to remain vigilant and monitor price action closely for any signs of deviation from the anticipated scenario. Adherence to risk management principles is paramount to mitigate potential losses and maximize profitability. Disclaimer: This analysis is based solely on technical indicators and historical price data, and it should not be construed as financial advice. Traders are advised to conduct their own research and exercise caution when making trading decisions in the forex market.
Long
by trading_jupiter
GBPUSD SELL | Day Trading AnalysisHello Traders, here is the full analysis. I think we can soon see more fall from this range! GOOD LUCK! Great SELL opportunity GBPUSD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Short
by TheGrove
1
GBPUSD Short Trading Opportunity Entry: Short position recommended upon retest of 1.25800 support-turned-resistance. Stop Loss: Place stop loss near 1.26200 to mitigate potential losses. Take Profit Targets: - TP-1 : 1.25390 - TP-2: 1.24980 Conclusion: Favorable short trading opportunity post-breakdown. Maintain disciplined risk management. Disclaimer: Trading forex carries high risk. Only invest what you can afford to lose. Past performance doesn't guarantee future results. Consult a financial advisor if unsure.
Short
by trading_jupiter
Key S/R areas for GBP/USD, levels to sell Hello traders, FOMC has given as GBP/USD a boost to the upside as the market believes Fed will cut rates soon although the Federal Reserve has kept rates unchanged for now. Technically, we do not have too many cues to go on. However, price has reached the 1.28 supply level. A bigger resistance level lies at 1.3150. For now, we are not selling GBP/USD. Short-term traders can consider selling GBPUSD@1.2890 level provided there is bearish price action.
by KaltoireCapital
11
GbpUsd could drop to 1.23Since the beginning of December last year, FX:GBPUSD pair has been trading within a range bounded by 1.25 and 1.28. In early March, the pair experienced a break above the upper range boundary. However, this break ultimately turned out to be false. After returning to the familiar range, the pair formed a significant bearish engulfing pattern on March 21st. Following a few days of consolidation, it is currently trading back at support. Considering that pairs tend to break on the opposite side after a false break, coupled with the significant bearish movement on March 21st, I anticipate the next move will be a break of support. In conclusion, I am looking to sell rallies in anticipation of this break, with a target around 1.23.
Short
by Mihai_Iacob
GBP/USD SELL/SHORT GBP/USD has formed a rising wedge pattern on the 4-hour timeframe. Additionally, as of the 26th March 2024 report, 11,344 large speculators exited long positions on the Great Britain pound. 📉 Expectations: Anticipate the pair to re-test key support levels as highlighted in the attached chart. 📊 Trading Strategy: This trade is based on a combination of fundamental, technical analysis, and candlestick patterns. It's a long-term position, so ensure sufficient margin to manage market fluctuations. Implement proper risk management in line with your account size. 🚦 Trading Rules: 1️⃣ Rule 1: If the trade does NOT surpass our entry level (GREEN LINE ON THE CHART), Do not enter the trade. 2️⃣ Rule 2: When the market hits Target 1, consider closing some positions or move your STOP LOSS to ENTRY price for safe trading. 3️⃣ Rule 3: After reaching Target 1, avoid placing new trades based on the same signal/alert. 4️⃣ Rule 4: If the market consolidates for more than 2 days, close the trade and patiently wait for the next favorable trading opportunity. Trade responsibly. Past performance is not indicative of future results. Feel free to ask any questions or discuss further! 📊📉
Short
by Pro-Trading-Africa
GBP/USD short term longs to shorts 1.26000 back up to 1.27200I am currently holding a bearish view on GU, and I'm patiently waiting for a deeper pullback toward the primary supply zone. However, there's a nearby 1hr demand zone where we might witness a bullish reaction. If this zone fails, which is possible given the ample liquidity below, there's also a deeper demand zone just beneath it. We need to wait patiently to see how price behaves. If price continues to rise, reaching the Asian high and trend line, it would strengthen my bearish bias and provide additional confluence for potential sells. Conversely, if price declines further, I'll be on the lookout for Wyckoff accumulation to unfold in either of the demand zones. Confluences for GU short term buys are as follows: - Price left lots of liquidity to the upside as well as an asian high that needs to get taken - There is two 1hr demand zones that could initiate the expected pullback yet to come. - For my sell bias to come into play, price must rally up which hasn't happened yet. - Imbalances are left above that need to get filled. P.S. If price continues to decline, I'll wait for a new supply zone to form and then consider selling from that point. Ultimately, the majority of liquidity remains situated below, influencing this decision.
Long
by Hassan_fx