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Gbpusdshort

GBP/USD Remains Defensive as Market Awaits Key Economic DataGBP/USD Remains Defensive as Market Awaits Key Economic Data The GBP/USD pair finds itself on the defensive below the mid-1.2200s as the Asian trading session kicks off on Monday. Market participants are keeping a close eye on upcoming economic data releases, with the UK's Gross Domestic Product (GDP) for the second quarter and the US Core Personal Consumption Expenditure (PCE) Price Index data slated for release later in the week. As of now, the major currency pair is hovering near 1.2242, registering a modest 0.02% gain for the day. The recent hawkish rhetoric from Federal Reserve (Fed) officials has lent support to the US Dollar (USD) against the British Pound (GBP). Presidents of the Fed Banks of Boston and San Francisco, Susan Collins and Mary Daly, have underscored the importance of further rate hikes despite signs of cooling inflation. This stance could potentially act as a headwind for the GBP/USD pair. Pound Sterling (GBP) has been enduring a three-day losing streak, driven by growing uncertainty surrounding the UK's economic prospects. S&P Global recently reported that UK Services PMI contracted for the second consecutive time, indicating a downturn in the nation's services sector. Bank of England (BoE) policymakers have shifted their focus to the UK's economic outlook in the face of persistent inflationary pressures. The GBP/USD pair faced significant pressure following an unexpected pause in the BoE's policy-tightening measures last week. This sudden deviation from expectations, where an interest rate increase was anticipated, raised concerns about potential economic slowdown in the UK. Uncertainty over the interest rate outlook has added to the GBP's woes, exacerbated by the upcoming general elections. UK Prime Minister Rishi Sunak has pledged to reduce inflation to 5.3% by year-end, but the BoE's rate pause suggests challenges in fulfilling this promise. The UK economy has already felt the impact of higher interest rates, with both manufacturing and services activities showing signs of contraction. In this climate of uncertainty, the GBP/USD pair faces headwinds, and investors will be closely monitoring key economic data releases to gauge the future direction of this currency pair. The upcoming GDP data for the UK and the Core PCE Price Index for the US could provide crucial insights into the economic health of both nations and impact currency markets accordingly. Our preference Short positions below 1.2310 with targets at 1.2180 & 1.2100 in extension.
Short
by FOREXN1
7
GBPUSD Technical Analysis and Trade IdeaDelving into the GBPUSD currency pair's analysis, we observe a significant development: it has reached a crucial support level after experiencing a substantial bearish trend. At this juncture, it becomes apparent that the price is stretched, potentially signaling an impending retracement. As always, the video accompanying this description offers a comprehensive exploration of key factors, including price action, market structure, and various critical aspects of technical analysis. It is imperative to stress that the information shared in this content is exclusively for educational purposes. It should not, under any circumstances, be construed as financial advice. Therefore, it remains paramount to exercise diligent risk management strategies when participating in trading activities.
Short
by fxtraderanthony
4
GU - Weekly Timeframe Analysis (ICT)Based on my DXY analysis, I will be expecting lower prices on GBPUSD. I see a potential short opportunity presenting itself when/if prices retraces back into the 2-Week iFVG/Bisi, using the Monthly Reclaimed Orderblock and Breaker Block as resistance. Only thing I will be wary of is price tapping above the previous week's high before displacing lower, targeting the 2-Week Bisi and NWOG below. With the high-impact news drivers this week, it is my assumption that it will happen with speed.
Short
by Road_2_Funded
2
GBPUSD LONG TERM BUY IDEAAug 28 Hello Traders In This Chart GBPUSD HOURLY Forex Forecast By FOREX PLANET today GBPUSD analysis 👆 🟢This Chart includes_ (GBPUSD market update) 🟢What is The Next Opportunity on GBPUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the ChartS
Long
by ForexPlanet20
BOE rate event in a couple of hours, GBP/USD traders take noteHello everyone! With BOE rate event happening in a couple of hours, we could see some whipsaw moves in GBP/USD. Here are some key takeaways that will help you trade GBP/USD over the next few days 📌Around74% of the retail clients are net long which means institutions would ideally want to take the price lower. 📌A lot of liquidity is up for grabs below the 1.23 level where most of the retail Stop Losses are. 📌I do not recommend opening any positions now. However, if price rapidly drops near the 1.22 level following the BOE rate event, traders can consider taking a buy trade with prop risk management. 📌Over the course of the next few weeks, price could make a recovery to 1.26 or 1.27.
by MarcellusLUX
11
GBPUSD Technical Analysis and Trade IdeaIn this video, we undertake a comprehensive analysis of the GBP/USD currency pair, along with a discussion on a potential trading opportunity. Recent market dynamics have exerted substantial downward pressure on the GBP/USD, resulting in a notable decline leading up to the London open. Nevertheless, an intriguing prospect may be emerging as the price appears poised for a reversion to equilibrium before the New York Open.
Short
by fxtraderanthony
1