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British Pound / U.S. Dollar

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GBPUSD trade ideas

Buy opportunityPotential Trade Setup: Long Position: The analysis suggests a buying opportunity based on the price bouncing off a key support zone (1.2627). Entry: Around the current price level of 1.2627. Stop Loss: Placed below the support at 1.2551 to account for a potential breakdown. Take Profit: Targeting 1.2988, which offers a 2.87% upside from the current level. Risk-Reward Ratio: The trade setup seems favorable, with a good balance between potential profit and acceptable risk. Analysis Breakdown: Current Price Action: The GBP/USD pair is trading at around 1.2627, with a recent dip suggesting a potential reversal or bounce from this level. Volume Profile: The volume profile shows significant activity at lower price levels, indicating high interest and potential support around the current area (1.2608 to 1.2627). Support and Resistance Levels: Support: The nearest support level is at 1.2608, where the price seems to be finding some stability. Resistance: Key resistance levels are marked at 1.2736, 1.2844, and 1.2947. Take Profit Level: The target is set at 1.2988, which aligns with a previous resistance zone. Squeeze Momentum Indicator: The Squeeze Momentum Indicator currently shows a bearish trend with red histogram bars. However, there are signs of potential weakening in the bearish momentum, suggesting a possible reversal.
Long
by GODOCM
1
Market Analysis: GBP/USD NosedivesMarket Analysis: GBP/USD Nosedives GBP/USD started a fresh decline below the 1.2750 zone. Important Takeaways for GBP/USD Analysis Today - The British Pound started a major decline from the 1.3000 resistance zone. - There is a key bearish trend line forming with resistance at 1.2650 on the hourly chart of GBP/USD at FXOpen. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair struggled to continue higher above the 1.3000 resistance zone. The British Pound started a downside correction and traded below the 1.2850 support zone against the US Dollar. The pair even traded below 1.2700 and the 50-hour simple moving average. Finally, the bulls appeared near the 1.2600 level. A low was formed at 1.2597 and the pair is now consolidating losses. The pair is now consolidating losses below the 23.6% Fib retracement level of the downward move from the 1.3009 swing high to the 1.2597 low. Immediate resistance on the upside is near a key bearish trend line at 1.2650. The first major resistance is near the 1.2695 zone. The main hurdle sits at 1.2800 and the 50% Fib retracement level of the downward move from the 1.3009 swing high to the 1.2597 low. A close above the 1.2800 resistance might spark a steady upward move. The next major resistance is near the 1.2880 zone. Any more gains could lead the pair toward the 1.3000 resistance in the near term. Initial support on the GBP/USD chart sits at 1.2600. The next major support sits at 1.2550, below which there is a risk of another sharp decline. In the stated case, the pair could drop toward 1.2420. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
by FXOpen
Fundamental Market Analysis for November 18, 2024 GBPUSDThe Pound-Dollar pair starts the new week on a subdued note and is consolidating in a range above the round 1.26000 mark, or the lowest level since mid-May, reached on Friday. For now, spot prices appear to have broken a six-day losing streak on the back of a modest decline in the US Dollar, although the fundamental backdrop supports the prospects for an extension of the recent established downtrend. The US Dollar remains on the defensive below the one-year high (YTD) set last Thursday as bulls took a pause to take a breather after the explosive rally following the US election. However, any meaningful decline in the dollar seems unlikely amid expectations that US President-elect Donald Trump's policies are likely to revive inflationary pressures and limit the scope for further rate cuts by the Federal Reserve (Fed). This has been a key driver of the recent rise in US Treasury bond yields, suggesting that the path of least resistance for the US Dollar lies to the upside. The British Pound (GBP), on the other hand, may struggle to attract buyers amid uncertainty over the Bank of England's (BoE) future interest rate path. Data released last week showed that UK wage growth excluding bonuses slowed in September, while the unemployment rate rose to 4.3% from 4.1%. In addition, UK GDP unexpectedly contracted in September for the first time in five months, reinforcing expectations of a BoE rate cut. Nevertheless, Bank of England members are not expected to cut interest rates at the December meeting. This, in turn, makes it reasonable to expect strong follow-through buying to confirm that the GBP/USD pair has formed a short-term bottom. Bearish traders, however, can now wait for a sustained breakout and consolidation below the 1.2600 round figure before placing new bets amid a lack of market-significant economic releases on Monday from both the UK and the US. Trading recommendation: Watch the level of 1.26000, if consolidated below consider Sell positions, if rebounded consider Buy positions.
by Fresh-Forexcast2004
Falling towards 78.6% Fibonacci support?The Cable (GBP/USD) is falling towards the pivot which has been identified as an overlap support that lines up with the 78.6% and could bounce to the pullback resistance. Pivot: 1.2549 1st Support: 1.2376 1st Resistance: 1.2686 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
GBPUSD H4 | Bearish continuation?Based on the H4 chart analysis, we can see that the price is rising toward our sell entry at 1.2721, which is an overlap resistance. Our take profit will be at 1.2483, a swing low support level. The stop loss will be at 1.2893, a pullback resistance level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
GBPUSD analysis week 47🌐Fundamental Analysis UK employment figures largely beat expectations, but wage growth fueled inflation concerns. While jobless claims were lower than forecast, the number of people claiming unemployment benefits still rose from the previous month's revised figure. The Bank of England's (BoE) latest Monetary Policy Report is due out on Wednesday morning, and investors will be looking for hints on how the BoE plans to deal with the unbalanced UK economy that continues to struggle with inflation numbers. On the US side, key CPI inflation figures are due to hit the market. Headline CPI inflation is expected to have edged higher to 2.6% year-on-year from September's 2.4%. Core CPI inflation is expected to have held steady at 3.3% year-on-year. The monthly figures for both inflation are generally expected to remain unchanged from the previous month. 🕯Technical Analysis The downtrend is still showing no signs of stopping for GBPUSD. The next important support zone that the pair is aiming for is 1.2470, which is the old bottom area that saw strong price reaction from buyers in May. Besides, the possibility that the pair will still stick to the trendline and fall to this support zone, when the buying force is strong enough to break the trendline, the market will also turn around. Hopefully, the bullish waves can break the trendline and form an uptrend towards the resistance of 1.271-1.277-1.286. 📉📈Trading signals BUY GBPUSD 1.247-1.245 Stoploss 1.243 SELL GBPUSD 1.271-1.273 Stoploss 1.276
by TVS-Trader
Falling towards overlap support?GBP/USD is falling towards the support level which is an overlap support that aligns with the 78.6% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.2528 Why we like it: There is an overlap support level that is an overlap support which aligns with the 78.6% Fibonacci retracement. Stop loss: 1.2335 Why we like it: There is an overlap support level. Take profit: 1.2676 Why we like it: There is a pullback resistance. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets