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U.S. Dollar / Pound Sterling

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USDGBP trade ideas

GBP USDSell Entry on a Bullish Retracement: If the price rises to the 1.2570 - 1.2600 level (a potential resistance area close to the current price), you can enter a sell position. Entry Confirmation: Wait for confirmation by a bearish candle closing on a smaller timeframe (such as 15 minutes or 1 hour) at this area. Stop Loss: Set the Stop Loss above the local resistance: The Stop Loss can be placed at the 1.2630 level. If the price breaks this level upwards, the potential downtrend might be reversed. Targets (Take Profit): First Target (TP1): At the 1.2480 level, which is close to the recent low. Second Target (TP2): At the 1.2420 level, a deeper potential support level if the decline continues. You can adjust the Stop Loss to the entry level after reaching the first target to ensure risk reduction.
by Mixico
GBP/USD "Trump Comeback Could Drive Dollar Strength"FOREXCOM:GBPUSD Analysis – What’s Coming Next & How Trump Could Affect the Dollar Right now, FOREXCOM:GBPUSD is hanging around 1.25000, and we’re expecting a bit of a pullback from here. But there’s more going on—Trump’s possible return to office could have a big impact on the U.S. dollar and how the pair moves in the future. Pullback from 1.25000 – Headed to 1.27000 The market is at a key spot around 1.25000, which has been a point where price often stalls. So, a pullback from here is pretty likely. After that, we could see the price rise to 1.27000 before it drops again. This is a good spot to catch a short-term bounce. Target: 1.22000 Once we hit 1.27000, expect the price to start heading lower towards 1.22000. This is a big support level, so we might see some back-and-forth here. If it breaks 1.22000, though, we could see the price drop further. Trump’s Comeback – U.S. Dollar Could Get Stronger Now, here's where it gets interesting. If Donald Trump makes a comeback and gets back into office, it could really boost the U.S. dollar. In the past, his policies helped the economy by cutting taxes and lowering regulations, which made the dollar stronger. If he returns, there’s a good chance the Fed might raise interest rates, which would make the dollar even more attractive to investors. If the dollar strengthens because of Trump’s return, FOREXCOM:GBPUSD could see even more downward pressure. In fact, we could see the pair drop not just to 1.22000, but even lower—1.20000 or 1.19000. Worst case, the pair could even go all the way down to 1.40000 if the dollar really takes off. What If It Breaks 1.22000? If 1.22000 doesn’t hold, we could see a big drop to levels like 1.20000 or even 1.19000. With Trump potentially driving the dollar higher, the move down could be stronger than expected. Quick Recap Pullback from 1.25000, possibly heading to 1.27000. After that, we expect a drop to 1.22000. If Trump comes back, the TVC:DXY could get stronger, and FOREXCOM:GBPUSD could go lower—maybe even to 1.14000. If 1.22000 breaks, look for further drops to 1.20000 or lower. So, in short, there’s a solid setup for a bearish move on FOREXCOM:GBPUSD , especially with the possibility of Trump’s return pushing the dollar higher. Have a good trades everyone!
Short
by Shanshahani
3
GBP/USD ShortTrade Analysis: Before the London Stock Exchange opens, the bank steps in and pushes the market up (Bank 1). After the opening, bank steps in (Bank 2) and pushes the market below the stakes of Bank 1. To me, this shows that the market is going down. I was waiting for zone 1 to enter the market because that's where the bank stepped in and there's money. However, the bank decides to reinvest and pushes the market down again (marked with $) so I looked for an entry there. On one minute, I see the bank exiting below the last retest order twice and I enter on the retest itself. I'm currently in a trade and I've moved my stop loss to breakeven. We'll see what happens next, my money is safe. See you soon.
Short
by Vaske8
GBPUSD Wave Analysis 22 November 2024 - GBPUSD broke support zone - Likely to fall to support level 1.2465 GBPUSD currency pair recently broke the support zone located between the support level 1.2620 (former monthly low from June) and the support trendline of the daily down channel from September. The breakout of this support zone accelerated the active minor impulse wave 3 of the higher impulse wave (C) from the start of November. Given the strongly bullish US dollar sentiment seen today, GBPUSD currency pair can be expected to fall further to the next support level 1.2465, former monthly low from May and the target for the completion of the active impulse 3.
Short
by FxProGlobal
GBPUSD Short and Longs (News) Scenario 1: Both PMIs Better than Forecast Actual Manufacturing PMI: 49.5 (Better than 48.8 forecast) Actual Services PMI: 56.0 (Better than 55.2 forecast) EUR/USD: Down - If both sectors perform better than expected, this might signal a stronger US economy, potentially leading to a stronger Dollar. GBP/USD: Down - Similar to EUR/USD, a stronger US economic outlook could weaken GBP against USD. USD/JPY: Up - Improved US PMI data might strengthen USD against JPY, especially if this leads to expectations of a tighter Fed policy. Scenario 2: Both PMIs Worse than Forecast Actual Manufacturing PMI: 48.0 (Worse than 48.8 forecast) Actual Services PMI: 54.0 (Worse than 55.2 forecast) EUR/USD: Up - If both sectors disappoint, this could indicate economic weakness in the US, leading to a weaker USD. GBP/USD: Up - Weaker US data might make GBP relatively stronger, especially if UK economic indicators are not as disappointing. USD/JPY: Down - A disappointing PMI might lead investors to question the US economic recovery, potentially weakening USD against JPY. The Fib is just an example if we was to see a sell off it may come into play. If we not seeing a sell off the Fib will be non existent.
by PipsandTicks1
2
GBPUSD possible re-entry for shorts.Following the massive sell-off yesterday, was looking to continue the sell just above today's open. Unfortunately, price hit the 1.25100 psychological level with a massive sell-off during the London session. I believe we might get a reentry at the imbalance around 1.25400, especially if the US PMI data comes in strong. Planning to sell at this level with a target of hitting London's low again." Chart Annotations: - Today's Open - Sell-off to 1.25100 - Imbalance at 1.25400 - Potential Sell Entry at 1.25400 - Target London Low
Short
by hskarue
1
British retail sales decline, pound extends lossesThe British pound is lower for a straight third trading day on Friday. In the North American session, GBP/USD is trading at 1.2543, down 0.36% on the day. UK retail sales disappointed in October, with a sharp decline of 0.7% m/m. This follows a downwardly revised 0.1% gain in September and missed than the market estimate of 0.3%. Annually, retail sales rose 2.4%, well below the market estimate of 3.2%. The September reading was revised downwards from 3.9% to 3.2%. The sharp drop in retail sales can be attributed to low consumer confidence and the recent Budget. The GfK consumer confidence index showed an improvement, rising from -21 to -18, but this points to a very pessimistic British consumer who is thinking twice before making discretionary purchases. The Reeves Budget on Oct. 31 dampened consumer spending, as the government had warned about “difficult decisions” and proceeded to deliver a Budget with some 40 billion pounds worth of tax increases. Understandably, consumers held back on spending in October and retail sales were down across most categories. The economy has slowed since the July election and services and manufacturing activity have decelerated for three straight months. The UK releases the Services and Manufacturing PMIs later today. The Services PMI is expected to remain unchanged at 52.0, while the Manufacturing PMI if projected to inch up to 50.0, up from 49.9. If the PMIs are weaker than expected, the pound could respond with losses. The US will also publish manufacturing and services PMIs on Friday, with little change expected. The Manufacturing PMI is expected to rise from 45.5 to 45.8, and the Services PMI, which has been showing solid growth, from 55 to 55.2. GBP/USD is testing support at 1.2557, followed by support at 1.2525 There is resistance at 1.2609 and 1.2641
by OANDA
Buy OpportunityTrading Signal Instrument: Type: Buy/Long Position Current Price: 1.2514 Take-Profit (TP): 1.2990 Stop-Loss (SL): 1.2422 Risk-Reward Ratio (RR): ~1:4 Analysis Summary: Technical Setup: The asset has reached a critical support zone (1.2514), showing signs of potential reversal as bearish momentum subsides, indicated by the squeeze momentum oscillator (SQZMOM). Volume Profile: Significant accumulation around the current price suggests a strong base for a bullish push. Projection: Price is expected to retrace upward toward the 1.2990 resistance level within 12 days.
Long
by GODOCM
Gbpusd up signal GBP/USD extends its losses for the third successive session and trades at a fresh fix-month low below 1.2550 on Friday. Disappointing PMI data from the UK weigh on Pound Sterling as market focus shift to US PMI data releases.The Relative Strength Index (RSI) indicator on the 4-hour chart stays slightly below 30. In case the pair stages a technical correction, 1.2600 (former support, static level) could be seen as immediate resistance before 1.2670 (50-period Simple Moving Average (SMA), upper limit of the descending regression channel) and 1.2700 (round level, static level). On the downside, 1.2550 (mid-point of the descending channel) aligns as first support ahead of 1.2500 (round level, static level) and 1.2440 (lower limit of the descending channel).After losing 0.5% on Thursday, GBP/USD continued to push lower in the Asian session on Friday and touched its lowest level since May near 1.2550. The pair seems to have turned technically oversold but recovery attempts could remain short-lived in the near term.
Short
by KingForex078