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Gbpusdlong

GBPUSD - Bullish TrendAccording to my analysis using the Relative Strength Index (RSI) indicator, there is a divergence present at the moment. A bullish trend would be confirmed once the first LH (Lower high) is broken and the first HL (Higher Low) and HH (Higher high) are formed. As part of my personal trade plan, I intend to enter a long trade with a 1:1 risk/reward ratio. However, it is essential that you conduct your own thorough research and risk management strategies before making any trading decisions.
Long
by mansooryousafzai
Resistance at 1.267: Key Level to Watch After BoE Rate Decision The UK continues to struggle with high inflation, as demonstrated once again this morning when headline inflation exceeded expectations at 8.7%, surpassing the projected 8.4%. Core inflation also outperformed, registering a 7.1% figure compared to the expected 6.8%. This divergence emphasizes the contrast between the UK and its counterparts in the US and Europe. Tomorrow, the Bank of England is set to announce its interest rate decision, and there are expectations of further tightening from the central bank. Given the elevated level of inflation, the bank may have little choice but to maintain a hawkish stance. Last week, the GBPUSD initially tested the support level at the previous resistance of 1.250. However, that brief decline was followed by four consecutive days of significant gains, ultimately reaching a new high for the year. There was a temporary resistance encountered at a critical level of 1.267. Following tomorrow's rate decision, this level could potentially act as a support area, particularly considering the slight pullback observed in recent days and the elevated RSI (Relative Strength Index). On the other side of the trade, we have Federal Reserve Chair Jerome Powell's comments on the central bank's ongoing battle against inflation falling short of the market's more hawkish expectations. During his testimony to lawmakers, Powell acknowledged that inflation remains significantly above the Fed's target and indicated that raising rates could still be a sensible course of action, albeit at a more moderate pace. Traders particularly took note of the term "moderate," which Powell used to qualify the potential rate increases. We still have one more day of testimony from Powell.
by BlackBull_Markets
GBPUSD - Long from discount zone ✅Hello traders! ‼️ This is my perspective on GBPUSD. Technical analysis: Here we are in a bullish market structure from daily perspective, so I am looking for longs from discount zone. My point of interest is if price makes a retracement and then rejects from bullish order block. Another confirmation from that zone is volume profile. Fundamental analysis: This week we have news on GBP. On Wednesday will be released yearly CPI and on Thursday Interest Rate. Pay attention to the results in order to validate the analysis, as these news are one of the most important. Like, comment and subscribe to be in touch with my content!
Long
by Snick3rSD
4
GBPUSD - the DROP, how to trade it?GBPUSD still looking BULLISH across the board however, there's an opportunity for a nice 150pips drop before the next rally to the upside. DXY is looking to have a nice bounce which means there's a possibility for SHORT on xxxUSD which is why we are looking to attack GU SHORT first before the rally. ENTRIES #1 ENTRY -: Take a SHORT at current price or wait for push up to the reaction box AND take the SHORT. #2 Entry -: Wait for the DROP and take a LONG at 800ema on D1 OR at the PREVIOUS MONTH HIGH INVALIDATION On #1 Entry, Set a 60pips Inv. On #2 Entry, exit LONGS when we fix below the BASELINE. TARGETS #1 Exit at PREVIOUS MONTH HIGH #2 Exit at MAIN PREVIOUS HIGH P.S I trade with literally zero complicated analysis and still maintain 90% HIT RATE on my LIVE TRADES and ideas.
by TheHOODofCRYPTO
GBPUSD Weekly Outlook: New perspective for the week | Follow-upDuring the latter part of the previous week, the GBPUSD price action continued its upward movement as the US Dollar faced obstacles following a less confident recovery. The release of data on Thursday, which showed a surge in the number of Americans filing new claims for unemployment benefits to the highest level in over 1½ years, prompted investors to sell off their US Dollar positions. The upcoming week will feature several significant economic events from both economies that will greatly influence the price movements of this currency pair. With indications of a weakening labor market in the U.S., the release of the latest consumer prices index for May on Tuesday will have a significant impact just before central bank officials meet to discuss interest rates. On the other hand, the Pound Sterling will also be influenced by the release of employment data for May on Tuesday. The preliminary report suggests a projected decrease of 9.6K in Claimant Count Change, contrasting with a significant increase of 46.7 K. The Unemployment Rate is expected to rise to 4.0% compared to the previous release of 3.9%. In the video, we conducted a detailed analysis of the GBPUSD's bullish and bearish sentiment, focusing on price action-based technical analysis of the Support and Resistance Levels in the 4-hour timeframe. I discussed how these levels can help identify potential trading opportunities in the upcoming week, providing insights and analysis on the GBPUSD chart. It's important to note that we highlighted a key level at 1.25900, which could play a significant role in determining the direction of price action in the coming week. Make sure to follow this channel and stay tuned to avoid missing out on updates in the comment section. Disclaimer: Trading on margin in the foreign exchange market (including commodities, CFDs, stocks, etc.) carries a high level of risk and may not be suitable for all investors. The content of this speculation (including all data) is provided by me for educational and informational purposes only to assist in making independent investment decisions. All information presented here is for reference purposes only, and I do not accept any responsibility for its accuracy. It is important that you carefully consider your investment experience, financial situation, investment objectives, and risk tolerance level, and seek advice from an independent financial advisor to assess the suitability of your situation before making any investment. I do not guarantee the accuracy of the information provided and shall not be held liable for any loss or damage that may arise directly or indirectly from the content or the receipt of any instructions or notifications related to it. Please note that past performance is not necessarily indicative of future results.
by darcsherry
10