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Pounddollar

GBPUSD technical analysis: 50-dma breakoutGBP/USD update The cable (GBP/USD) rose to 1.226, smashing the 50-day moving average for the first time since early February 2022, as speculators increased their expectations for a 50 basis point BoE rate hike this week, which would be the largest interest rate increase in 27 years, pushing borrowing costs to 1.75%, the highest level since 2009. With UK inflation running at 9.4% year on year in June, more aggressive action is needed to put out the fire and since economic activity and the labour market continue to demonstrate surprising resilience, the market anticipates that the BoE's board has more room for marked and front-loaded rate increases. Next resistance is now seen at 1.233 (June 27 highs) and 1.248 (early June support). The 14-day RSI spiked above 60, its highest since mid-January, and MACD is above zero for the first time since February.
by Capitalcom
GBP will either triple bottom or fall out of the sky - WeeklyChtLooking at long term trends for GBP-USD we are coming to a level that is almost underheard of in forex GBP being low to the dollar. Right now looking at the weekly unless something happens we see a continuation to 1.165xx range from there it could be anyone's game. We expect a lot of volatility around this number and range In fact if you draw a box from the top to the bottom there is a lot of wiggle room for trades but they will be volatile. Trade carefully but watch this 1.65xxx level as a large support.
Short
by swimmax
GBP/USD SUPER BULL!GBP/USD (Great British pound VS Us Dollar) In a weekly chart, We can clearly see the ending diagonal (falling wedge) on the chart and now it's time for a reversal. When the ending diagonal form after then We will see a sharp reversal to the opposite side. Most probably we will break the $1.4 area in some weeks or months. DISCLOSURE - Please be informed that the information I provide is not a trading recommendation or investment advice. All of my work is for educational purposes only. All labeling and wave count have been done by me manually and I will keep changing according to the LIVE MARKET PRICE ACTION. So don't bias, hope on my trade plans. Try to learn Elliott Wave or other strategies and make your own strategy. Following is not that much easy. I am not responsible for any losses if u took the trade according to my trade plans. #GBP/USD #gbp/usd #GBPUSD #poundvsdollar #elliottwave
Long
by anantadhungana
1
POUND-More bull might be 2 much!!Hi everyone We all red the news from the federal reserve,well considering that many might think we can reach higher for GBPUSD. Well news always have a huge impact, but traders might have more. In 4 hours chart we have a bull wedge pattern and in case of breaking out of the trend line, the trend might go side way or bearish( more likely). Now we have a lower high which might be a good indication for many traders to take short right here. Support factors are bull trend line and level of 1.26$, and for resistance we have the prior high and 1.265$(might get a 2 bar reversal here) Hope this analysis helps you in a way. I will answer your questions,Just leave a comment below and PRESS THE LIKE BOTTOM please.
by HubAlgo
GBP/USD -27/5/2022-• After breaking down from the yearly descending channel, which was a signal of a strong momentum down, the Pound has been rallying for a while • The pair is trading inside a rising wedge, a reversal bearish pattern • Buyers tested the lower trend line of the channel, which is a typical move after a breakdown and apparently they gave up • Looks like today is going to be a doji candle, which signals exhaustion of the buyers • Breakdown from the rising wedge is likely in the coming days/weeks supported but the uncertainty around the world + disappointment from the BOE with regards to the future rate hikes • A successful breakdown targets the support levels highlighted on the charts: 1.24, 1.233 and 1.2160 respectively
Short
by RamziAbouAbdallah-CMT
POUND- Higher by the end of the weekHello everyone As USD loses it's value over the news from federal reserve,better prices for the pairs with this currencies can be seen allover the market. For now, over the possibility of the exhaustion of the trend, we may have couple of RED bars in the way of our Bull trend, but since we have an OIO pattern( outside,inside,outside)it's more likely to have the market keep going up. the resistance levels in the way are 1.25$ & 1.26$ (1.25$ will break IF the trend continues) and our support level is 1.23$.
by HubAlgo