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Gbpusdidea

GBPUSDThe GBP/USD had a difficult performance in April as the strength of the US dollar continued. The pair attempted to recover on Friday but it found a strong resistance at 1.2615. It has now pulled back and moved slightly below the 25-day and 50-day exponential moving averages (EMA). The Stochastic Oscillator moved from the overbought level. Therefore, the pair will likely keep falling as investors target last month’s low of 1.2410. It will then bounce back after the BOE decision.
Short
by SmoothJB
GBPUSD | 2 Longs & 1 Short | Empires rise and fallGeneral GBPUSD in an interesting spot. Its under the bottom of the current minor range which is in confluence with the weekly open and its at the 50% of a monthly range. I marked out 3 trades i would take either or all. Be aware that i usually use LTF (such as the 1 hour chart to plan my entries). Meaning the SLs and RR are not completly as shown. 1. Long (Blue arrow) Prices moves reclaims the bottom of the minor range and finds support atleast at the weekly open. Entry around the entry. Target: A bit under the 50% of the range SL: Depending on the LTF entry i wouldnt want to see it loosing the weekly open or the 50% of the monthly range. Time duration: Days, weeks, months, years... ;) 2. Long (Orange arrow) Price reclaims monthly open and the 50% of the minor range. Enter around retest. Target: Level 3. Nice confluence with the start of the recent downtrend + a big resistance area SL: Loss of the 50% level and break under monthly open Time duration: Days, weeks, months, years... ;) 1. Short (Green arrow) Price falls under level 1 and level 2. Preferable a reclaim of the weekly open / 50% major range / bottom minor range happened before breaking down again. (see smaller green arrow). Target: The next big support level SL: A bit above level 1 Time duration: Days, weeks, months, years... ;) Good luck
by a_tale_of_bulls_and_bears
GBPUSDThe British pound has had a very rough month for April, just as almost all currencies have. The only currency that seems to be doing very well is the US dollar. The Bank of England has announced that they are not willing to sell off the assets on its balance sheet, so this means that they are not quite as hawkish as the Federal Reserve. If that is going to be the case, then it makes a lot of sense that the British pound continues to fall. The 1.25 level being pierced during the month of course is a very negative sign as well. That being said, there is a lot of noise just below and it is worth noting that the British pound is oversold. It is because of this that I think there will be a certain amount of support sooner or later, if for no other reason than we might have profit-taking. If we do get that profit-taking, then it is likely that we could see a rather significant bounce. That bounce is more likely than not going to offer a nice selling opportunity though, and therefore I will be waiting to see signs of exhaustion after that short-term rally. The 1.30 level above should be significant resistance, as it had been significant support and resistance previously. Furthermore, there is a certain amount of psychological importance to this number, so it does come back into the picture as well. The British pound has to worry about what is going on with its energy market at home because Russia does supply the United Kingdom with quite a bit of natural gas. Furthermore, it appears that the global economies are going to be slowing down in general and that typically means that people will be looking to get US dollars. Unless the Federal Reserve changes its overall attitude, I do not see a situation where we have the British pound taken off to the upside against the greenback. Yes, we may get the occasional rally, but I think that is all is going to be, short-term at best. The one outlier might be is if the Bank of England suddenly changes its attitude. With the inflation that we see in the United States, the Federal Reserve is looking very hawkish and probably will be for the rest of the year.
Short
by SmoothJB
1
Joe Gun2Head Trade - Time to Buy Cable?Trade Idea: Buying GBPUSD Reasoning: Speculating on a short term bounce. Trading at a 61.8% Fibonacci level on the daily chart Entry Level: 1.2554 Take Profit Level: 1.2861 Stop Loss: 1.2488 Risk/Reward: 4.5:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Long
by Signal_Centre
1
Mid term forecast of gbp/usdZEYAN here!!!! I'm looking at the market as a bear, and as far as I can tell, in the medium term, it's more bearish then bullish This is a general idea of how I view the market; I use algorithms to determine trend and different entry techniques; please do not take this information at face value; conduct your own research. If you want me to analyse your charts, please let me know in the comments. like for more!!!!!!!!! This is not financial advice; please conduct your own research and use this information as confirmation in addition to your own analysis.
by zeyankhan1318
1