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Gbpusdlong

100 Pips profit hit on GBPUSD buy, is 1.29 next?Hello traders and the Tradingview community, our GBPUSD buy from yesterday at 1.2620 hit over 100 pips profit today. Although price has pulled back a little, it is likely that the uptrend may continue. The circular region highlighted in my chart is the key, as long as price continues to stay above this level, there's a chance that GBP/USD may reach 1.29. My preferred strategy is to buy the dips in GBP/USD, I will update this idea when I have a new entry available for GBPUSD.
Long
by YourLazyTrader
1
GBPUSD Trading Plan - 05/Jan/2024Hello Traders, Hope you all are doing good!! I expect GBPUSD to go Up after finishing the correction. NOTE: There is potential that it can take last low but the bias will be still up. 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
2
GBPUSD: Morgan Stanley changes US dollar forecast to neutral amiMorgan Stanley updated its outlook for the U.S. dollar, switching to a neutral stance, sharply departing from its previous forecast for an 8% rise in the dollar spot index in the fourth quarter. Two this year. This adjustment was made in response to the Fed's recent dovish stance and the resulting decline in US Treasury yields. The bank's dollar spot index fell just 0.2%, prompting a reassessment of its currency strategy. Given the changing economic situation, Morgan Stanley strategists are now advising clients to avoid short positions in the Eurodollar. Instead, it recommends shorting the euro against the yen to protect against currency fluctuations that may occur in the current market environment. This guide highlights strategic turning points in foreign exchange trading, in line with the latest economic indicators and central bank policy directions.
Long
by Chart_MasterPro
💡 GBPUSD: Forecast January 3GBPUSD continued to fall sharply in the past session, it broke the lower border of the rising price channel and approached the important support zone of 1.26. This is considered the last stop for the buyers because if it is broken, the double top reversal pattern will be confirmed and the bullish structure will also be broken, then it is likely that the price will extend its downward momentum to 1.24. If you still have a buying position, you should consider exiting early or placing SL below this 1.26 level.
Long
by Stone_Haven
2
GBP/USD tends to increase when it meets supportThe GBPUSD has been forming an upward structure with higher highs after breaking above a key downtrend line in early November. Although the GBPUSD's uptrend came to a temporary halt at the four-month high level of 1.2826, the completion of the golden cross between the 50- and 200-day SMAs is expected to provide upside momentum. However, during the European session on Tuesday, the GBPUSD fell sharply during the day as the USD rose sharply and formed a death cross downward structure in the 4H timeframe, potentially creating more uncertainty for the GBPUSD in the near term. Now, we believe that as long as Wave 4 of the "upward impulse waves" structure has not been broken, the end of the "upward impulse waves" is still worth looking forward to. Given that the short-term oscillators are continuing to provide cautiously positive signals, the bulls may try to eliminate the latest weakness and overcome the December resistance at the 1.2794 level. A break above this resistance could open the door to a four-month peak at 1.2826. If it fails to stay here, the GBPUSD could move towards the June high of 1.2847 until it reaches the 1.2900 level. On the other hand, if the GBPUSD reverses lower, several previous support levels at 1.2642 and 1.2612 could now become the initial line of defense. A break below that bottom could see the price fall to recent support at 1.2611, or even lower, with upward Wave 4 1.2500 likely to provide a correction. Overall, risks remain cautiously tilted to the upside in the near term, even though the GBPUSD rally appears to be losing its momentum. To change this situation, the price cannot go below a series of key supports or the uptrend will be reversed. It is recommended to buy the dips.
Long
by carefulLion07pab
1
GBPUSD is trending upSupported by positive market sentiment, GBPUSD rose above 1.2800 on Thursday and settled at the 61.8% Fibonacci retracement level at 1.2740 (from July 14 high of 1.3142). to an October 4 low of 1.2037). The rising 20-day exponential moving average (EMA) is placed at 1.2670, projecting continued upside support for the British pound. The relative strength index (RSI) has risen above 60. The sustained work on these technologies will trigger strengthening, the target gem completing the "upward impulse waves" at 1.3000. On the downside, activity below minor support at 1.2698 could cause trading sentiment to return to neutral. However, if free support at 1.2499 is maintained to prevent a downturn, further recovery phases remain beneficial. From a broader perspective, the action starting from the midpoint at 1.3141 is seen as a corrective pattern from the upside at 1.0351. Move up from 1.2036 is considered the second in progress (of this pattern). The upside is expected to be limited at 1.3141 to form the third component. At the same time, support functioning beyond 1.2499 would indicate the start of the third part of the uptrend. In terms of trading, buying at low prices is the recommended strategy.
Long
by carefulLion07pab
GBPUSD → Falling From Resistance! Should We Long or Short??GBPUSD touched the Resistance Zone and fell into the 30EMA ribbon, putting a slight pause on the fall. Will the price fall further or are we about to make contact with the Resistance Zone again? How do we trade this? 🤔 I do not believe a short is reasonable here because we don't have enough bear strength on the chart. Wait for another rejection at Resistance or wait for the price to fall and find support to enter a long. There are two potential long entries, at the Support Zone around 1.21150 and above the current Resistance Zone around 1.29. Both zones need to establish support and show confirmation to justify a long entry. This includes a bull signal bar closing on or near its high followed by a strong bull candle closing on or near its high. Until then, it's best to wait on the sidelines for a better opportunity! 💡 Trade Ideas 💡 Long Entry: 1.21150 🟥 Stop Loss: 1.18650 ✅ Take Profit: 1.26150 ⚖️ Risk/Reward Ratio: 1:2 Long Entry: 1.29000 🟥 Stop Loss: 1.26450 ✅ Take Profit: 1.34100 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Trading Range after Bull Run, Bias to Long. 2. Macro Trend is Bearish, Use Caution at Weekly 200EMA. 3. If in Short Position, hold until Support Zone. 4. If not in a Position, Wait until Support to Long. 5. RSI near 53.00 under Moving Average, Bias to Short. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
GBPUSD Longs from 1.26500 Up towards 1.28000This GBPUSD scenario catches my attention due to the intriguing structure that price has formed. Presently, my strategy involves waiting for a slight dip in price to reach the Asian low and touch my 10hr demand zone. Following this, I anticipate a Wyckoff accumulation process, providing an opportunity for a buy position targeting the 10hr supply zone located within the psychological level of 1.28000. In the event that price decides to rise first, my inclination would be toward short-term sells initiated from the same 10hr supply zone, with the aim of guiding it down toward the demand. Additionally, my interest is piqued by the backup zones, where substantial liquidity is visible near my Points of Interest (POIs), offering reliable areas for potential trading opportunities. Confluences for GBPUSD Buys are as follows: - Unmitigated 10hr Demand zone has been left which caused a major BOS to the upside. - Temporary trend is also bullish as price has broken structure once again. - DXY is still looking bearish meaning that GBPUSD is expected to rise. - Asian low on top of demand is a good sign as price will sweep liquidity before entering. - In order for price to continue in its bullish course, it must ideally react off a demand level. P.S. As the current market conditions remain in equilibrium, my approach is to wait for price to reach either a discounted or premium level. Given the ongoing short retracement and the presence of liquidity below, I anticipate the demand to be mitigated first at the discounted price. However, I acknowledge the possibility of price reaching my 10hr supply, in which case, I would opt for selling positions to capture a downward movement. HAPPY NEW YEARS TO ALL OF YOU AND HOPE THIS YEAR BRING EVERYONE PROFITABILITY AND CONSISTENCY. LETS CATCH THESE PIPS!
Long
by Hassan_fx
GBPUSD H4 / NEW PERSPECTIVE FOR SHORT&LONG ENTRY📉📈✅Hello Traders! This is my idea for GBPUSD H4. At the moment, I see a well-constructed bullish channel and I expect a retracement from the channel resistance level where we have an OB, another resistance level, and an FVG. It represents a good opportunity for Short Trade execution on a smaller timeframe and Long Trade execution on a higher timeframe. Traders, if you liked my idea or if you have a different vision related to this trade, write in the comments. I will be glad to see your perspective. ____________________________________ Follow, like, and comment to see my content: www.tradingview.com
by GoodTradeST
GBP/USD Eyes 1.2800 Amid Dollar Weakness and UK Retail Sales..GBP/USD Eyes 1.2800 Amid Dollar Weakness and UK Retail Sales Surpass Expectations In the European morning on Friday, GBP/USD is on a positive trajectory, setting its sights on the 1.2800 level. The US Dollar (USD) is consolidating its recent losses as the year comes to a close, with divergent Fed-BoE policy outlooks playing a pivotal role. As thin trading conditions are expected to persist, GBP/USD benefits from the broad-based selling pressure surrounding the Greenback in the latter part of Thursday's trading. Divergent Policy Outlooks and Dollar Weakness: The USD's losing streak is propelled by the contrasting policy outlooks of the Federal Reserve (Fed) and the Bank of England (BoE). As the Fed leans towards a more accommodative stance, the British Pound gains traction against the weakening US Dollar. Thin trading conditions, typical of the year-end, further contribute to the USD's consolidation and GBP/USD's upward momentum. UK Retail Sales Beat Expectations: Adding to the positive sentiment around the British Pound, the UK's Office for National Statistics (ONS) reported a robust 1.3% monthly increase in retail sales for November. This figure surpassed market expectations of a 0.4% rise by a significant margin. However, the ONS tempered the optimism by revising the annualized Gross Domestic Product (GDP) growth for Q3 lower to 0.3% from the initial estimate of 0.6%. Technical Analysis and Uptrend Continuation: Amid these developments, our technical analysis suggests a continuation of the uptrend for GBP/USD. A pullback to the 50% - 61.8% Fibonacci retracement levels serves as a potential entry point, with a projected take-profit zone around 1.28500. As GBP/USD advances towards 1.2800, fueled by a weakening US Dollar and robust UK retail sales, traders and investors are cautiously optimistic. The divergence in central bank policies and positive economic data create a favorable environment for the British Pound. As the year concludes, attention remains on potential opportunities in the currency markets, with GBP/USD exhibiting resilience in the face of year-end trading conditions. Our preference Long positions above 1.2600 with targets at 1.2850 & 1.2900 in extension.
Long
by FOREXN1
1
GBP USD 1D AnalysisAs we approach the end of 2023, GBPUSD is currently testing a significant resistance level that has proven to be a formidable barrier in the preceding months. Looking ahead to 2024, my expectation is for the price to breach this resistance and sustain the upward momentum, targeting a level around 1.31328. It's crucial to acknowledge the potential for a rejection at the resistance level, which could potentially lead to a reversal of the trend, especially if there is a break in the trendline and a structural shift occurs. I invite you to share your insights and thoughts on this analysis. Feel free to drop your comments below.
by Popeson