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GBP/USD: 12/05. Buyer's OpportunityGBP/USD remains on the defensive near 1.2530 even as it renews the intraday high ahead of the all-important UK Gross Domestic Product (GDP) data early Friday. Not only positioning ahead of the data, but optimistic market expectations and fears of a positive surprise also allowed the Pound to ease its recent losses. GBP/USD trades near the lower limit of the ascending retracement channel, currently at 1.2560. The 50-period simple moving average (SMA) also consolidated that support. In the event that the pair confirms it as resistance, then 1.2530 (100-period SMA) would align with the next downside target ahead of 1.2510 (psychological level, static level) and 1.2450 ( 200 period SMA). On the other hand, 1.2680 (static level) forms temporary resistance ahead of 1.2670 (midpoint of ascending retracement channel). A close above the four-hour close could attract buyers and prompt another move higher towards 1.2710. OANDA:GBPUSD
Long
by DNA_TradingFX
GBPUSD: Will the Pair Continue to Show Volatility?The GBPUSD currency pair has been showing increased volatility recently, thanks in part to the saga around SVB and Credit Suisse. As of Wednesday 22nd and Thursday 23rd March 2023, price action saw resistance around the 1.23000-1.23500 level, with Friday 24th March confirming it. It's interesting to note that this level held price from Tuesday 24th January until Thursday 2nd February 2023. With this background in mind, we expect price action to find minor support around the 1.21000 or 1.19920 level. If the level holds, we anticipate a bull run to target the 1.2150 price level. Looking ahead, the last trading week for the month of March 2023 has several important events that could impact the GBPUSD currency pair. The first is the BOE Gov Bailey Speaks, which is scheduled for Tuesday 28th March at 9:45 am GMT. This could provide insight into the Bank of England's current monetary policy and future direction, which could impact the currency pair. Later that day, there will be another BOE Gov Bailey Speaks event, this time scheduled for 3:00 pm GMT. This event could provide additional insight into the central bank's stance on the economy and any potential policy changes.
Long
by ClintOnos
1
Long GBPUSD, target 1.240 GBPUSD is currently testing support around 1.231, once the support is confirmed to be valid, it will rise to around 1.240. So today we will focus on the support around 1.231. When the support is confirmed to be valid, we can go long, and the target is around 1.240-1.244. I released the trading strategies of EURUSD and GBPUSD today, and I will continue to publish gold, BTC, etc. later. If you are trading them, you can follow me, if you have any questions, you can tell me, and I will help you answer them.
Long
by EagleEyeStrategy
GBP/USD: The weakness of the US dollar fuels the British poundToday GBP/USD continued Friday's rally and hit its highest level in 5 weeks at 1.2250.As investors reassess the possibility of the US Federal Reserve keeping policy interest rates unchanged at its upcoming meeting, the broad weakness of the US dollar helps GBP/USD maintain its advantage. Risk sentiment dominated the market in early Asian trading hours as the market reacted to the news that UBS Group agreed to acquire Credit Suisse Group.More importantly, the Federal Reserve has resumed daily swaps with the Bank of Canada (BoC), the Bank of Japan (BoJ), the Swiss National Bank (SNB), and the European Central Bank (ECB) to provide additional liquidity when needed. The positive impact of these developments on market sentiment is still short-lived.The sharp decline in U.S. Treasury yields shows that investors are repricing the Fed's policy outlook.According to CME Group's FedWatch tool, the probability of the Fed raising interest rates by 25 basis points on Wednesday has fallen to less than 50%. The British FTSE 100 index fell more than 1% at the beginning of the session, and U.S. stock index futures fell 0.4% to 0.8%, reflecting a risk-averse atmosphere. Nevertheless, in the current environment, the dollar seems to have lost its attractiveness as a safe harbor.As investors become more and more worried about the deepening of the global financial crisis, they avoid betting on the Fed's active policy tightening, which will lead to a weakening of the dollar, which will lead to a strengthening of GBP/USD. In the trend of GBP/USD, the effectiveness of breaking through the downward channel has been established, and a new upward trend is being re-established. In order to determine the effectiveness of the uptrend channel, GBP/USD will also step back in the short term while maintaining a good upward trend.While GBP/USD maintains its advantage, the effectiveness of the support at the top and bottom conversion position of the 1.220 line below can be determined. Therefore, the current support below is at the 1.220 line, while the initial resistance above is at the 1.227 position, and the strong resistance is at the 1.230 position. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
Long
by Short-term-king
2
The pound rebounded as scheduled, can the bulls recover?On Wednesday (March 15), GBP/USD continued to fall by 0.85% to close at USD1.2056.The UBS incident has caused the market to worry about the state of the European banking system, because the impact of the collapse of Silicon Valley Bank, which is a major customer of technology companies in the United States, is accelerating.Credit Suisse's share price plunged by more than 30% at one point, after its largest investor said it could not provide the bank with more financial assistance.The stock's plunge led to a decline in the broader European banking stock index, triggering demand for safe-haven dollars and forcing investors to avoid high-risk currencies such as the British pound.However, the market believes that the eurozone market may be hit first, while the British market is slightly protected, so at this stage, the performance of the pound is slightly stronger than that of the euro.Subsequently, British Chancellor of the Exchequer Hunt announced a fiscal plan. Fiscal measures for this year and next two years will cost 94 billion pounds, demonstrating the British government's determination to boost economic growth and avoid recession.This has helped limit the decline of the pound to a certain extent. On the trend of GBP/USD, it was mentioned in the article yesterday that if the 1.201 position can be supported, it is possible to carry out a short-cycle restorative rebound on this basis.It is currently trading near the level of 1.211.From this point of view, there is still strong support near the 1.201 level below, but the current trend is still volatile and the trend is not clear.The overall volatility range is still limited to between 1.1930-1.22. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
Long
by Short-term-king
GBP/USD:The pound was blocked, and the bears reacted strongly?The latest data from the United Kingdom show that the number of people employed in the British labor market has increased by 65,000, higher than the expected 52,000, and the unemployment rate remains at 3.7%.But the pace of wage growth has slowed, which is good news for the Bank of England.Because the central bank is seeking to control inflation, this is another factor to be considered at next week's interest rate meeting.On a global scale, the market turmoil after the collapse of Silicon Valley Bank has led to huge changes in the market's pricing of the central bank's interest rate outlook in the past few trading days.According to CME's Fedwatch tool, there is now a 25% chance that the Fed will keep interest rates unchanged at its next meeting.Even the market has begun to digest the expectation that the Fed will turn to interest rate cuts at the end of the year.Under this situation, the pressure on the Bank of England to raise interest rates may be eased, which will be of great help to resolve the British government's debt.In terms of interest spreads, the British pound will not be pulled too wide by other currencies.As a result, the pound may be able to gain some support from it. Due to the rebound of the British pound for four consecutive trading days, it has left the original downward trend channel. However, over time, the market fear caused by the US banking crisis has gradually eased. Today, the dollar index stopped falling and rebounded sharply, suppressing the rise of the British pound and driving the British pound to begin to adjust the market. At present, the British pound has the intention of returning to the downward trend channel.However, if the 1.201 position can be supported, it is possible to carry out a short-term restorative rebound on this basis. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me.
Long
by Short-term-king
13
WYCKOFF ACCUMULATION GBPUSDFor the past couple of days, GBPUSD has been ranging with some wide swings . Anytime price consolidates, we refer back to the Wyckoff's Theory to understand what's happening and where price is likely to head next. After the 3rd hit to support level, the pound finally dropped . We know the purpose of this drop and what happens next. However, the pound has now breached the 1.20 to 1.30 Quarter Points, which gets me thinking, will the pound reach the 1.75 LQP ? I sit on my hands with this one to see how price will play out. Beaucoup Out
Long
by BeaucoupPips
GBPUSD: Trade within this range Currently, the market is still fluctuating within the support range, and overall it remains somewhat weak. However, there has been a significant decline recently, and regardless of the variety, it is almost certain that there will be a rebound after a major drop, with the difference being the size of the rebound. Therefore, the current trading strategy is to go long at low levels and short at high levels. Specific recommendations: Buy in the 180-183 range and take profit at 1.192-1.196. Short above 1.196 and take profit near 1.184.
by triumphing
#GBPUSD - GO LONG AFTER THE FALL? - *SMT**SMT = smart money theory = see relasted tutoprial regarding what smart money is. Sm,art money is how the charts can be manipulated, and how y0ourself can be manipulated into believing a false sense technical analysis. With the price dropping in one day what iyt gained over the course of the week. The price has dropped below sell side liquidity levels, but to remain bullish needs to stay above a CERTAIN BULLISH ORDER BLOCK LEVEL, otherwise we could see the price turn right back around and go down for GBP, but I think the BOE will be quicker to adapt to the FED knowing the consequences now. S I would guesss that it is moving up into the the hourly fvg and then will get rejected above the premium by smart money, amnd that point it dips a little further, as to where y09ou can enter a second time afgter taking profit the first time around 1.22665 Enter again near 1.21420 if possible and continue to ride this up to 1.26090 to be safe. I have two entries both at 1.21420 First one reaches what is said above and you take your fiorst profit there, it could slip back down to the entrance or even further, into a small fair value gap below which I have prepared for on the second entry,. and ther stop losses at 1.21120 & 1.20525 the second run with the deeper stop loss also has a much larger target at 1.26090 ner the top of the bearish order block. the R:R is 6:1 and 5:1 respectively, so if this woprks out t he way I ho [e it doers in the next week or two, 10% can be added top the account if played correctly. I was once the smarrt money student who has become an instructor. Let's Hope my intuitions are correct about thias. With that said if you hit the first take profit but go out on the second sdtop loss, you should still be at a winning ratio. It's about how to grow yojur account. Everyday you won't hit a homerun. But if y0ou hold the bat long enough, the ball will go far. Cheers, Good Luck and Good trading.
by BodiesXWix
Did GBP/NZD hit a sell signal? The GBP/NZD has continued to sink from its recent high of 2.032 and is now well below the 2.000 level that the pair closed below on Tuesday. A major factor determining the movement of this pair is the respective inflation rates data from each country that was released this week. The annual Inflation rate for the United Kingdom rose back to 10.1% in September from 9.9% the month earlier, despite the Bank of England’s consistent rate hikes. Meanwhile, New Zealand’s inflation rate eased slightly in September to 7.2% from 7.2% the previous quarter. While the fall In the NZ inflation rate was practically insignificant, it is at least moving in the direction you would expect after consistent rate hikes from the Reserve Bank of New Zealand. Overall, GBP/NZD's outlook looks bearish from a technical perspective. For one, the Aroon Indicator in the 4-hour chart is signaling a sell. The Aroon blue ‘down line’, is currently travelling along at the 100.00% level, indicating that the trend favours the downside. Meanwhile, the Aroon red ‘up line’ is hovering just above the 0.00% area. According to this indicator, the closer a line is to zero the weaker the trend, thus the up line present here indicates a weak upside potential for the GBP/USD. Knowing this, traders might like to look for a break in the minor support area around 1.9730 for the price to continue at 1.96000 for a short-term trade. Further downside targets might include 1.9400 before encountering a solid demand zone. If support is formed in the 1.9400 area, buyers might want to wait for the Aroon Indicator to signal before taking a buy position for a possible retest at 1.9600.
by BlackBull_Markets
1