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U.S. Dollar / Pound Sterling

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USDGBP trade ideas

Fundamental Market Analysis for November 21, 2024 GBPUSDThe GBP/USD pair declined to 1.26500 during Asian trading on Thursday. This decline can be attributed to the weakening of the US dollar (USD). The US Dollar Index (DXY), which measures the value of the dollar against six major peers, is holding near 106.50 at the time of writing. However, downside risk to the US Dollar may be limited due to cautious remarks from Federal Reserve (Fed) officials. Boston Fed President Susan Collins said on Wednesday that while further interest rate cuts are necessary, policymakers should proceed cautiously to avoid moving too fast or too slow, Bloomberg reported. Meanwhile, Fed Chair Michelle Bowman emphasized that inflation has remained elevated over the past few months and stressed the need for the Fed to take a cautious approach to rate cuts. The Reuters poll showed that nearly 90% of economists (94 out of 106) expect a 25 bps rate cut in December, which would bring the federal funds rate down to 4.25-4.50%. Economists forecast a slower rate cut in 2025 due to the risk of higher inflation as a result of President-elect Trump's policies. The federal funds rate is forecast to be 3.50-3.75% by the end of 2025, 50 bps above last month's forecast. GBP/USD's upside potential seems restrained due to safe-haven flows amid the escalating conflict between Russia and Ukraine. On Wednesday, Ukraine fired a salvo of British Storm Shadow cruise missiles into Russian territory, marking the latest use of Western weapons against Russian targets. This came after Ukraine used U.S. ATACMS missiles the previous day. Trading recommendation: Trade mainly with Sell orders from the current price level.
Short
by Fresh-Forexcast2004
GBPUSD M15 I Bullish Bounce Based on the M15 chart analysis, we can see that the price has just bounced off our buy entry at 1.2652, which is an overlap support. Our take profit will be at 1.2680, which is a pullback resistance close to 61.8% Fibo resistance. The stop loss will be placed at 1.2623, which is a multi-swing low support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
1
GBPUSD InsightHello, subscribers! It’s great to have you all here. Please feel free to share your personal opinions in the comments. Don’t forget to hit the like button and subscribe! Key Points - UK October CPI: Recorded at 2.3%, surpassing the market expectation of 2.2%. - Fed Uncertainty: Mixed statements from recent Fed officials have increased uncertainty about Fed rate policy. FedWatch now reflects a 52.3% probability of a 25 bp rate cut at the December FOMC, nearly equal to the likelihood of holding rates steady. - Ukraine Conflict: Ukraine, with UK-backed Storm Shadow missiles, launched another attack on Russian territory. However, reports of Russia signaling a willingness for a ceasefire have eased concerns over further escalation. - NVIDIA Earnings: NVIDIA outperformed market expectations in both revenue and net profit for Q3. Major Economic Calendar - November 21: U.S. November Philadelphia Fed Manufacturing Index - November 22: UK October Retail Sales, U.S. November Manufacturing PMI, U.S. November Services PMI GBP/USD Chart Analysis GBP/USD is showing a rebound from the 1.26000 level, climbing upwards. The pair is currently bouncing off the lower trendline of its upward trend, suggesting potential for further gains up to the 1.34000 level. However, if the price reverses and breaks below the lower trendline, it could signal a trend reversal. In such a case, a decline toward the 1.20000 level might be anticipated, necessitating a strategy adjustment.
Long
by shawntime_academy
SetupsFX time a corker of a trade. Long GBPUSD This is travelling nicely by all accounts. First chart is the 1hr. GBP is positioned at the big-time lows, no wonder they went after my big lot-size first trade which they illegally took down. But I got back in with about 1/5th lot size. Look its true, they will target you and bet against you when big lot size is noticed. Why in trading you gotta be a gray-man and lay real low. Nobody can work out the gray-man or gray-lady, they hide everything and blend in very well. Sneak around like a spectator and then while know nobody is watching - BAM. Here is the trade on the much lower timeframes.
Long
by Easy_Explosive_Trading
GBPUSD Is Going Up! Long! Here is our detailed technical review for GBPUSD. Time Frame: 6h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a key horizontal level 1.266. Considering the today's price action, probabilities will be high to see a movement to 1.281. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
GBPUSD (H1) Analysis: Gearing Up for a Bullish ShiftGood day Traders, Trust you are doing great. Below is my analysis of GBPUSD. Trend & Sentiment GBPUSD, currently trading at 1.26666, shows signs of a potential bullish reversal. After failing to break the recent low at 1.25966, the pair has started forming higher highs and higher lows, signaling a shift in market dynamics. A clear inverted head-and-shoulders pattern has emerged, strengthening the case for an end to the bearish trend and a possible move to the upside. Key Levels Resistance: 1.26952, 1.27561 Support: 1.26342 Possible Direction Bullish movement The first target is 1.26847, as long as the price holds above the key support at 1.26342. Price may face resistance at 1.26952, but strong buying momentum could drive it toward 1.27504 and further to 1.27800, completing trade objectives. Reversal Risk A break below the support at 1.26342 could invalidate the bullish scenario, leading to a potential decline toward 1.25732, where a stronger reversal might form later. Conclusion The outlook is bullish, with targets at 1.26847 (short-term), 1.27504 (medium-term), and 1.28161 (long-term). A sustained break above resistance levels would confirm the reversal, while a drop below 1.26342 would delay bullish momentum. I would appreciate your thoughts. Cheers and happy trading!
Long
by Samuel124
7
Gbpusd setupGBP/USD declines toward 1.2650, erases UK CPI-led gains GBP/USD loses its traction and retreats toward 1.2650 on Wednesday. Although the stronger-than-expected inflation data from the UK helped Pound Sterling gather strength, the risk-averse market atmosphere caused the pair to reverse its direction. The Relative Strength Index (RSI) indicator on the 4-hour chart climbed above 50 early Wednesday, highlighting an increasing buyer interest. GBP/USD was last seen trading slightly above 1.2700, where the Fibonacci 23.6% retracement level of the latest downtrend is located. In case the pair confirms this level as support, it could face next resistance at 1.2740-1.2750 (50-period Simple Moving Average (SMA), Fibonacci 38.2% retracement) before 1.2800 (Fibonacci 50% retracement).
Short
by KingForex078
GBPUSD Buy OpportunityKey Observations: Support Zone (Highlighted in Green): A demand zone has been marked between 1.2625 and 1.2639, indicating previous buying interest. The user is waiting for the price to reach this area before considering a buy trade. Resistance Zone (Highlighted in Green): A supply zone near 1.2720 shows prior selling pressure, marking a significant level for potential profit-taking. Market Structure: The price has completed a zigzag pattern, making higher highs and higher lows, followed by a corrective move downward. The downward move suggests a retracement toward the support zone. Buying Strategy: The user plans to execute a buy trade near 1.2639, expecting a reversal in this demand zone. They anticipate the price rebounding toward the resistance zone. Potential Scenarios: Bullish Reversal: If the price reacts positively at 1.2639–1.2625, it could trigger a strong upward move toward the 1.2700–1.2720 zone. Break Below Support: If the price fails to hold above 1.2625, it may signal further bearish momentum, invalidating the buy setup. Key Levels: Support: 1.2625–1.2639 (Demand zone) Resistance: 1.2700–1.2720 (Supply zone) Recommendations: Monitor price action closely near the demand zone. Look for bullish reversal patterns (e.g., engulfing candles, double bottoms) before entering a buy trade. Set a stop-loss below 1.2620 to manage risk.
by ashif030
GBPUSD Trade PlanChart shows a bullish divergence between price and RSI, alongside an inverse head and shoulders pattern, indicating a potential bullish reversal. The trade setup suggests a buy stop above the neckline at 1.27268, with a stop loss at 1.25861 (below the lower low). Profit targets are TP1 at 1.28680 (first resistance) and TP2 at 1.30080 (higher resistance). Ensure confirmation with a strong breakout above the neckline. Partial profits can be taken at TP1, moving the stop loss to breakeven for a risk-free trade. If the price closes below 1.25861, the setup is invalidated, and no entry should be made.
Long
by Naqash16046