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Gbpusdsetup

GBPUSDPrice have been in a bearish momentum for a while now. Although it is too early to say, price looks like it is forming a double bottom at this time and if that holds, we just might see a push up towards the 1.27500 area. But then again, it is too early to decide that as price could continue to push lower. Before I make a trading decision, either bullish or bearish, here is what I would love to see: I will go long IF AND ONLY IF Price breaks above the immediate resistance around the 1.25003 area and retests same zone. I will short the market IF AND ONLY IF Price breaks below the immediate support around the 1.24507 and retests same zone Until either one happens, we keep the fingers crossed and wait for the move. Disclaimer: All trade ideas are given for educational purposes and should not be treated as an investment advice, hence do your due diligence. Past results does not guarantee future results
by Mbjoey
GBPUSD: 500 PIPS SETUP❤️Dear Traders, USD has been strong lately and market has been messy due to recent economic data, however, after todays strong GBP news we think in coming weeks GBP will be extremely bullish whereas we expect DXY to remain bearish for longer term. Let’s wait and see how it works out. Our main aim here is to wait for price to come to our area which has higher possibility that it may drop hard later this week. If not price may break -through trend-line.
Long
by Setupsfx_
39
Exploring the bullish case scenario in GBP/USDPreviously in my Monday's trade idea, I recommended buying GBP/USD @1.2560. As expected, we are currently up 70 pips from our buy area. 📌If you look at the daily chart in GBP/USD, you will notice that the downtrend seems to have lost momentum in the 100-day moving average region . This area is crucial as it can lead to a bullish reversal. 📌 My recommendation is to buy the dips in GBP/USD@1.2570-1.2620 with Stop Loss below 1.25. 📌TPs can be placed at 1.28 which is the minor resistance. Once it is broken, bulls can target 1.2980 and 1.3120 as TP.
Long
by MarcellusLUX
GBPUSDPrice seems to be stuck in a consolidation phase ranging between the 1.27873 and the 1.26639 zones. Although on the higher time frame (weekly) price seems to be making higher highs I would rather wait to see a breakout of the consolidation range before taking any position. Waiting is good trading strategy Disclaimer: All trade ideas are given for educational purposes and should not be treated as an investment advice, hence do your due diligence. Past results does not guarantee future results
by Mbjoey
GbpUsd- Break of range for 200 pips tradeSince the beginning of August, GbpUsd has been trading in a tight 150 pips range (a narrow range for a pair like GbpUsd). Yesterday's price action left a nice bullish Pin Bar on our chart which could indicate gains going further. However, for this we need confirmation and this comes with a break above 1.28. In such an instance, the pair could test the important 1.3 figure. On the other hand, a break under 1.26 would expose 1.24. I usually don't write analyses like this: "if it breaks resistance is going up, if it breaks support is going down". I made one in the GbpUsd case because, after one month of consolidation, the break of the range could set the direction for the next period and this pair is, for sure, one to keep a close eye on at this moment.
by Mihai_Iacob
9