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Gbpusdidea

GBP/USD forecast ahead of key inflation data It is prudent to examine the strength of the US dollar against the pound in the lead up to two very important inflation data reports. First is the US inflation data due on Wednesday morning at 2.30 am (NZDT). And second is the UK’s inflation data on Wednesday night at 8.00 pm (NZDT). The annual US inflation rate to January 2023 is expected to fall to about 6.2% from 6.5% in December of 2022, and in doing so will continue the decline of consumer prices for a seventh straight month. However, a smaller than expected decline in the US inflation data might shake a little more bulls off the GBP/USD frontline, after it dropped from 1.2400 to below 1.2030 last week, its weakest level since January 6, and breaking through its upward trendline. The decline in UK inflation is expected to fall from 10.55 to 10.2%, but it has been beating expectations and falling more than forecast in its previous 2 releases, so another beat might be on the cards and putting the GBP back on the front foot. GBP/USD attempted to bounce back last Thursday after establishing support at 1.2015 but failed to close above the 200-EMA. This failed move meant the GBP/USD ended the week with a big red candle, engulfing the previous bullish candle that tried to move past the 200-EMA. The rejection at the 200-EMA means there is resistance at around 1.2121, which could be considered a lower high in the downtrend. Stronger-than-expected US inflation or weaker-than-expected UK inflation could see GBP/USD breaking below 1.2018, with 1.1900 a potential target for the downward move. On the opposite side of the trade, GBP/USD may rise to 1.2189 or even 1.2318 from a swing perspective. Look for a closing above the 200-EMA and the 1.2121 resistance area for this to happen.
by BlackBull_Markets
GBPUSD-EXCITING SELLING OPPORTUNITY!!Dear Traders, hope you all doing great, wanted to give some time to the market after NFP last friday, we have an good selling opportunity on GBPUSD . As we look on the longer timeframe we identify the key important area where price may attract to after strong bullish impulse as DXY reversed as we had expected. Longer term bias on GBPUSD is bearish as we expect DXY TO continue the bullish trend . PLEASE DO LIKE AND FOLLOW FOR MORE!
Short
by Setupsfx_
23
GBPUSD SELLHappy weekend guys, so a quick one on GU so basically we are looking to sell GBPUSD Why is because on The Monthly TF we are Currently on a down trend, I will break it down Educationally to be very much understanding, so on the weekly/daily we have a support zone or level which ever one you may call it that need to be tested properly before we can eventually see a bullish continuation, selling because we had a very nice down trend market structure and we are Currently on a resistance lvl, also on the Daily TF we broke trend line nicely. So that’s all for now Please drop a Comment on what you also think on GU. Thanks and have a lovely weekend
Short
by GoCrazyfx0
2
GBP Intraday support bounce & inverse H&S pattern?! 09.02.2023Nice combo of bullish short-term indications. Support trend-line since October 2022 to today just confirmed again with aggressive bounce (3rd test of trend-line). 3 lows with middle lower low show potential for inverse head & shoulder pattern (bullish) with 1.2170 middle neck-line resistance , with daily candle close above 1.2390 may be reached very quickly. A break above 1.239 may lead to 1.2540 resistance which is connecting highs since back to August 2020 resistance trend-line. Drop below 1.2117 may lead down to 1.1650 longer term with daily candle close (very much less likely) could be a great stop loss below 1.2117 and take profit at 1.2390 for much greater reward than risk.
Long
by Exactus
2
GBPUSD : The edge 9.5 Let's keep it simple and understandable. 2007-2020 lower high descending trend-line which was broken to up-trend Mid 2020. Currently between 1.198-1.2250 is the retest range of this breakout and up-trend support. The bounce from the retest may take GBPUSD to 1.2680 quickly on it's route back to the weekly trend breakout. At the same time, we have a high potential bullish reverse head and shoulder that is forming around the retest area as a second shoulder. The Dollar is stretching around extreme overbought conditions and historical horizontal level of resistance. This is in line with the retest which is currently ongoing. Make informed decisions trading and always consider the bigger picture. --------------------------------------------------------------------------------------------------------------------------------- Thank you so much for reading, if you found my idea useful please like and follow - It would truly mean a lot to me. If you have any questions please don't hesitate to ask - I'll be more than happy to respond to each and everyone. Best of luck and enjoy your trading :) ---------------------------------------------------------------------------------------------------------------------------------
Long
by Exactus
7
GBPUSD-Hello my fellow traders, hope you all are learning and earning, here is another big move setup from my side. GBPUSD dropped from our targeted zone like our AUDUSD setup, this mainly due to DXY being bullish and we are expecting DXY to continue bullish trend for next few weeks. -However, the economic data that were released today these news released came negative for USD though in my opinion price mitigated the last structure. What you all think? Please show support by following and liking the post so that we can continue deliver the most profitable setups!!
Short
by Setupsfx_
13
GBPUSD Pair H4 Bearish OutlookThe GBP/USD pair is showing bearish signs on the H4 time frame with the recent confirmation of bearish bias, rejection of 1.24125 and three H4 candles closed below the last bull candle. But bearish pressure is expected to be temporary due to the upcoming decision on interest rates for the US dollar. The first target is between 1.22847 and 1.22574, Second target is between 1.21803 and 1.21537. Opinions of other traders are welcomed. Please like this idea and follow me for more. Thank you so much for doing that.
Short
by ClintOnos
2
GBPUSD Trading Plan - 2/Feb/2023Hello Traders, Hope you all are doing good!! I expect GBPUSD to go Up after finishing this correction. Look for your BUY setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Long
by For3xScalper
1