GBP momentum dwindles - decline to 1.23 once support breaksFundamentally no momentum in GBP - more miserable numbers will be out as the month progresses - buoyant USD to continue to hold up.
Good luck all!
GBPUSD trade ideas
GBPUSD H4 | Bullish Continuation?Based on the H4 chart analysis, we can see that the price is falling to our buy entry at 1.2694, which is an overlap support that aligns with 61.8% Fibo retracement.
Our take profit will be at 1.2834, a pullback resistance that aligns with 61.8% Fibo retracement.
The stop loss will be placed at 1.2615, which is an overlap support level.
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GBPUSD weekly outlookhey family this week if we can be patient enough we should be able to execute price on the bearish side from the higher to the lower timeframe we can see sellers making an impact in the market.. stay tune
GBPUSD - 1H - BULLISHTechnical Analysis: GBPUSD is in strong bullish momentum, respecting the upward trendline and printing higher highs (HH) and higher lows (HL). RSI is synced with the price action, confirming no divergence. We aim to capitalize on the current bullish movement by entering at the current market price.
Entry Strategy:
Entry Point: Buy at the current price (live market price).
Stop Loss (SL): Place under the nearest strong support zone for risk management.
Take Profit (TP1): Target the next key resistance level or price zone based on your chart.
Take Profit (TP2): Extend to the following resistance for maximizing gains.
LONG ITS SIMILAR TO EURUSD LONG, the trendline has been retested thrice an i look forward to TP at the red area .
My Thoughts...My Thoughts.
The market just gave a signal for a trend/pattern change...
I think we are bond to be seeing more upsides in the coming weeks to complete the market pattern
The market is in a bullish overall, now just made a HL in the overall trend and I think we are going to see a new HH in the current trend/pattern...
The market could sell
Use proper risk management
Let's do the most
"GBP/USD Breaks the Channel: A Bold Move to Reverse the Trend"The GBP/USD currency pair appears poised for potential growth as it approaches a critical breakout from the local trend resistance, supported by a broader correction in the U.S. dollar. This scenario emerges amidst weakening economic signals from the U.S., which are challenging the Federal Reserve's optimistic narrative.
### A Shift in Dynamics: Dollar Weakness and GBP Momentum
The U.S. dollar, long buoyed by hawkish Fed policies and resilient economic data, now faces increasing pressure. Yesterday's negative jobless claims data raised concerns about the strength of the labor market. All eyes are on today’s Non-Farm Payrolls (NFP) report, as worse-than-expected results could deepen the dollar's correction. Such developments would underscore cracks in the U.S. economy, contradicting recent remarks by Fed Chair Jerome Powell, who suggested economic stability. This uncertainty opens the door for forex currencies, including GBP, to stage a rally.
### Technical Outlook: Breakout with Potential Upside
From a technical perspective, GBP/USD is showing early signs of strength, with the retest of the intermediate bottom producing clear reversal candlestick patterns and a potential shift in market structure. The breakout from the existing price channel is a promising signal that could mark the beginning of a strong upward momentum. However, market sentiment remains cautious, with traders awaiting further confirmation before fully committing to a bullish trajectory.
Key **resistance levels** to monitor include 1.284 and the psychological level of 1.300. On the downside, **support levels** are established at 1.272, 1.261, and 1.2488. A sustained break above 1.284 could pave the way for a medium-term rally toward 1.300, while a false breakout could trigger a reversal, sending the price back toward 1.272 and potentially as low as 1.240.
### Zones of Interest: Bullish Scenario
Currently, the pair is positioned within a favorable zone for growth, with positive signs indicating a medium-term rise from 1.275 to 1.300. A strong push above these levels could signal a broader trend reversal, attracting further buying interest.
### Bearish Risks: What to Watch For
Despite the positive setup, risks remain. Should the pair fail to sustain its breakout and fall back below 1.272, bearish momentum could accelerate. This would open the door for a decline toward 1.240, especially if the NFP data exceeds expectations and strengthens the dollar temporarily.
### The Big Picture: Caution vs. Opportunity
While the technical signals are promising, the sustainability of GBP/USD’s potential rally largely depends on the evolving narrative surrounding the U.S. dollar. A prolonged correction in the dollar, driven by weaker economic data, would provide the perfect backdrop for GBP to gain traction. However, any surprises in upcoming U.S. reports or shifts in Fed policy expectations could quickly dampen bullish sentiment.
For now, GBP/USD is at a pivotal moment. A breakout from its current resistance could serve as a launchpad for significant gains, but traders should remain vigilant, balancing optimism with the risks posed by a potentially resilient dollar.
GBPUSDThe potential sell scenario for the pair this week:
A strong opportunity to sell GBPUSD from the current levels.
GBP/USD shorts to take level 1.24853With the heavy downwards price action we have been seeing on both GU and EU which directly correlates with the GU and the bullish price action of the dollar which goes against the Gu we can anticipate that Gu will continue in this downwards trend to take the last LL at price point 1.24853.
looking deeper into candle anatomy we see that Fridays price action left a strong bearish candle signifying sellers are in control. We also see that there are multiple ASL to the downside and other pools of liquidity which can be TP targets.
However, there are many demand zones we could see price push up from in the short term to collect liquidity to the upside before continuing in its overall HTF downtrend. It is also possible price could push up market open taking the ASH that lay above before melting.
GBPUSD analysisHello Guys, so the #GBPUSD is on a Bearish Channel Now and in my opinion for next week we can 1.2000, And For this week I’m bearish on #BritishPound
Is the pound breaking its resistance?
Given the resistance at the level of 1.2817, if this area is broken, we can expect the price to continue rising towards 1.2935.
Otherwise, if the support level at 1.2717 is broken, a further decline towards the level of 1.2614 is anticipated.
GBPUSD SELL The US Dollar (USD) fell following the release of the United States (US) Nonfarm Payrolls (NFP) report, pushing GBP/USD to a fresh one-month high of 1.2810. According to the US Bureau of Labor Statistics (BLS), the country added 227,000 new job positions in November, beating the 200,000 expectedAdditionally, the Unemployment Rate ticked up to 4.2% in November from 4.1%, meeting expectations. The Labor Force Participation Rate edged lower to 62.5%, while the annual wage inflation, as measured by the change in the Average Hourly Earnings, held steady at 4%, coming in above the market forecast of 3.9%.The US Dollar, however, trimmed losses and gained momentum after the release of the preliminary estimate of the December US Consumer Sentiment Index, which jumped to 74 from the previous 71.8 while beating the expected 73The British Pound turned negative against the USD on a daily basis, with the pair hovering around 1.2700. The 200-day Simple Moving Average (SMA) attracted sellers, currently standing at around 1.2820. The 20-day SMA, on the other hand, maintains its bearish slope below the current level at 1.2690, the immediate support en route to the 1.2650 price zone
GBPUSD showing a strong sign of bullish momentumwe had a breakout and retest so we will be going bullish
Best Lot Size for Scalping Forex For Any Account Size
In this article, I will teach you how to calculate the best fixed lot size for Scalping Forex for any account size in 3 simple steps.
1. Build Up a Trading Watch List
In order to accurately calculate a proper lot size for scalping Forex, you need to know the exact Forex pairs that you trade.
You should create a list of trading currency pairs.
For the sake of the example, imagine that you trade only 4 major USD pairs:
EURUSD, GBPUSD, USDJPY, USDCAD
2. Do Backtesting
Backtest every forex pair in your watch list and find at least 5 trading setups on each pair based on the rules of your trading strategy.
Also, remember that the more setups you will find, the more accurately you will calculate the best lot size for your scalping strategy.
Here are 5 trading setups on EURUSD that meet my entry criteria.
After that, you should calculate a pips value of a stop loss of each trade.
Below, you can see 5 trading setups on GBPUSD pair.
And here are the stop losses of each trade in pips.
Now, USDCAD pair. Again, here are 5 trading setups, meeting the entry rules.
You can see the stop loss of each trade in pips below.
And finally, 5 setups on USDJPY pair.
And here are the stop losses of these trades.
Among these 20 trading setups, you should find the trade with the biggest stop loss.
The biggest stop loss is 15 pips on USDJPY pair.
3. Measure a Lot Size
Open Forex position size calculator.
You can take any free position size calculator that is available.
Fill all the fields.
In currency pair input, the forex pair with the biggest stop loss - USDJPY in our example.
Account currency - your account currency, let's take USD.
Account size - your account size, let's take 10000$.
Risk ratio - that will be the risk % of your trading account per trade, input 1.5%.
Stop Loss - input a pip value of the biggest stop loss that you found - 15 pips.
And click calculate.
That will be the best lot size for scalping Forex with your trading strategy.
The idea is that our maximum loss will not exceed 1.5% of the trading account balance.
While the average risk per trade will be around 1%.
Before you start scalping Forex on a real account, it is very important to know how to properly calculate your risks. Trading with the fixed lot, this technique will help you to calculate the best lot size for your trades.
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GPBUSD GET READY FOR A DROP(6.8%)Our analysis is based on multi-timeframe top-down analysis & fundamental analysis.
Based on our view the price will fall to the monthly level.
DISCLAIMER: This analysis can change anytime without notice and is only for assisting traders in making independent investment decisions. Please note that this is a prediction, and I have no reason to act on it, and neither should you.
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GBPUSD looking at GU playout like this on the daily into the new year assuming Biden admin doesn't inflict anymore damage (Auctioning off border wall steel)= taxpayer costs increasing/ trade tariffs as well will play a factor into this.
trend line analysiswhen price touches the bottom line of the band, theoretically it will come back up to middle line, go long in this case
Bband_ideaWhen the price is touching the bottom line of the band, it's a simple signal to go long, wait until it gets back up to the EMA, then close it
Is it a buy on the GBP\USD?i think the sellers are out of steam and the buyers will retest and hold the support trendline up to at least the 1.31351 level.
Long term Cypher on the pound targeting 180........The pound longer term looks like its gonna head higher..... daily shark pattern has counted complete and Ill be looking for a push back into the 12950-60 area. If this rejects i would look for a push back toward the low 0f 124-125.. Ill be looking to the long side here as low risk to reward setup will present its self.
Merry Christmas
