GBPUSD Multi TF Analysis 28/5/2024SL - 1.27310 TP - 1.28705 1M price chasing up. 1W price in strong strength. Channel up.Longby LawrenceWongWBSUpdated 115
GBPUSD rallied early on TuesdayGBP/USD rallied early on Tuesday, briefly reaching its highest point since March 21, but gains were short-lived as sellers quickly pushed the pair down from the psychological 1.2800 level, driving it towards 1.2755. If this ceiling holds in the near term, bulls may start bailing, creating the right conditions for a move toward 1.2700. Further weakness could shift focus to 1.2635. Conversely, if buyers manage to reclaim dominance in the coming days and take out resistance at 1.2800, the upward momentum could intensify, propelling GBP/USD towards 1.2895 – the March peak. While overcoming this ceiling might be difficult, it is still feasible. On that note, upside clearance of this barrier could result in a rally towards the 1.3000 handle. by Xayah_trading4
GBPUSD: Market of Sellers Looking at the chart of GBPUSD right now we are seeing some interesting price action on the lower timeframes. Thus a local move down seems to be quite likely. ❤️ Please, support our work with like & comment! ❤️ Shortby UnitedSignals115
Elliott Wave Analysis Expects GBPUSD to Pullback in Wave 2Short Term Elliott Wave in GBPUSD suggests rally from 4.22.2024 low unfolded as a 5 waves impulse Elliott Wave structure. Up from 4.22.2024 low, wave ((i)) ended at 1.2635 and pullback in wave ((ii)) ended at 1.2445. The pair extends higher again in wave ((iii)) with internal subdivision as an impulse in lesser degree. The 1-hour chart below shows the subdivision of wave ((iii)). Up from wave ((ii)), wave (i) ended at 1.2541 and dips in wave (ii) ended at 1.2502. GBPUSD then extended higher in wave (iii) towards 1.2726 and pullback in wave (iv) ended at 1.2685. Final leg wave (v) ended at 1.2761 which completed wave ((iii)). The pair then pullback in wave ((iv)) towards 1.2675 and extended higher in wave ((v)) to end at 1.2801 high completing wave 1 in higher degree. Near term, as far as pivot at 1.2801 high stays intact, expect dips to find support in 3, 7 or 11 swing pullbacks to end wave 2 correction before further upside. by Elliottwave-Forecast4
GBPUSD TRADE SETUPWait for retest the entry level then take a trade for Buy otherwise skip this setupLongby JinnatAlamSumon5
GBPUSD head and shoulder setupIntraday Update: IF the PCE data today is hot, or we get a positive US dollar reaction, the GBPUSD is setting up a head and shoulder pattern. Neckline is at the 1.2667 level which is just about 50 pips away from current price. by ForexAnalytixPipczar4
GBP/USD Trading Analysis and RecommendationSell Opportunity: An opportune moment for selling presents itself in the GBP/USD currency pair at the current rate of 1.27220, with promising potential for profit. Targets: Primary Target: 1.27000 Secondary Target: 1.26725 Breakout Scenario: Should the pair surge beyond the resistance level of 1.27470, signaling a bullish breakout, the target price is envisaged to rise towards 1.27900. Comprehensive technical analysis suggests a prevailing sentiment conducive to selling at the current market price. Fundamental factors align with the proposed selling strategy, indicating downward pressure on the GBP/USD pair. Implementation of robust risk management techniques is advised to mitigate exposure to potential adverse market fluctuations. Disclaimer: This analysis is provided based on current market conditions and historical data. Traders are urged to conduct thorough research and exercise prudence, employing appropriate risk management strategies, before executing any trading decisions. by GODOCM4
CHART BREAKDOWN GBPUSD: Key Levels, Targets and Thoughts!🎯Brief Description🖊️: The chart provides insights into critical market levels, emphasizing an essential demand zone (low-risk buy zone) spanning from 1.26000 to 1.25900. Additionally, medium-risk buy zone between 1.26570-1.26470, respectively, are highlighted. Things I Have Seen👀: Important Demand Zone🟢: Identified between 1.26000 and 1.25900, serving as a low-risk buy. Medium-Risk Buy Zone🟠: Noted between 1.26570 and 1.26470, suggesting another area with moderate risk for potential buying positions. Bullish Targets📈: 1.26200: Possible retracement area. 1.26500: Possible retracement area. 1.26750: Significant supply zone. 1.27600: Liquidity area. What's Important Now❗ Currently, the crucial approach is to wait and observe the price action at this level. We need to assess how the market reacts before considering any decisive moves. Stay observant and responsive to real-time developments in the market.Longby TTradessss5
uptrend It is expected that the current corrective trend will end in the specified support ranges and we will see the beginning of the upward trend. With the breaking of the support trend line, the continuation of the corrective trend will be possibleLongby STPFOREX3
GBPUSD H4 BEARSTimeframe H4: Entry of bears in the market during london session. Timeframe H1: Possible support could be 1.2669. Alternative view: H4: A break above 1.2780 qualifies bulls continuation to the upside.Shortby J_NgatiaUpdated 113
$GBP - What shall we do now?$GBP - What shall we do now? GBP - Since we hit below 1.14 - 1.10 it's really been a one way for this pair and it could continue...However, we have options! 1 Emergency rate hike 2 Intervention 3 IMF 4 Fiscal spending 5 Swap Lines Now these are the options technically speaking we filled gap around 1.09 this morning, I expected 1.06 on table during open we hit lows of 1.03... Now, if we can hold the levels of these levels and perhaps go above 1.09 then no worries. However, if we carry on with these moves then things will get very interesting and keep an eye on the Gilt & FTSE! Now it all looks very dismal when it comes towards headlines but actually there are coming amazing investment opportunities the prices we are getting and of course if you're in USA, what a great time for you to visit! For Candle stick traders - dragon fly! Keep alert of what happens next, this week we have a lot speakers out of CB's and most importantly trade your plan! Best, TJ Editors' picksby Trade_JournalUpdated 2424208
GBP-USD Will Grow! Buy! Hello,Traders! GBP-USD retested the Horizontal support of 1.2688 And we are already seeing A bullish rebound so We will be expecting A further move up Buy! Like, comment and subscribe to help us grow! Check out other forecasts below too!Longby TopTradingSignals114
Cable moving into Daily trendline resistance near 1.28Cable has seen some nice recovery at the end of 2023; move is looking impulsive so more gains can be seen after the corrective retracement which has unfolded down from March highs. So far, price came down with three waves but pair is making a nice turn-up in last few weeks, out of a downward channel, thus it appears that pair is back in bullish mode. In fact, UK CPI figures reported last week indicated a cooling of inflation, but not as much as expected, so potential June cuts are most likely off the table. Looking at the 4h time frame, we see nice five subwaves up as expected which look like a wave 3, therefore we can expect much higher targets after a next pullback while market trades above 1.2570 invalidation level. However, there can be some resistance in the short-term, near the daily trendline that comes in around 1.28. Support on dips is at 1.2650. by ew-forecast113
Long GBP/USDA bearish OB has been disrespected, followed by a bull order block accompanied by a major Break Of Structure. This is reinforced by the respected Breaker Block that was formed by the original disrespected bearish Order Block. When price moved inside the BB, there was a bullish Order Block on the 15 minute chart, therefore my entry. I can also be certain there will be another Break Of Structure here. Feel free to comment your thoughts below :)Longby japeshAGRAWALUpdated 4
GBPUSD Shorts DXY continues to hold its ground. Upcoming news in favour of the US Dollar will drive GBPUSD lower. There is also no high impact news for GBP over the coming week so expect bearish pressure from the get go. Challenging week up ahed guys, good luck!Shortby TheForexMessiah3
GBPUSDApproaching the sell area we will wait for set-up here but my entry is at 1.2770 for the bear to have a go.... Shortby elitetechfx-dailyUpdated 3
What should GBPUSD today be traded?Hello everyone, Brian here! Today, GBPUSD is trading around 1.69, continuing its decline from yesterday. In the short term, this currency pair is forming a cup and handle pattern, suggesting a continued preference for selling. My target is 1.263. What about you? Share your thoughts and ideas for GBPUSD in the comments!by Trader_BrianFXUpdated 4
Shorting GBPUSD after liquidity grabGBPUSD has grabbed liquidity from top and i believe it was just a fake out to grab liquidity, now it is back running between daily trend, i believe it will go down towards resistance, and stops at above previous high giving us approximately 1:10Shortby Haxza3
GBPUSD continues its long-term buying strategy to 1.2800Dear traders! GU is trading around 1,274, showing little change from late last week as it entered a short-term consolidation phase. It completely convinced me to buy in the medium to long term as it completely confirmed the break of the falling channel resistance and the strong increase so far at. Personally, I still maintain and believe in a buy target towards 1.2800 as the 34.89 EMA continues to provide strong support for this pair.Longby IAm_Ryder4
GBPUSD price analysis week 22📌GBP/USD steadies above 1.2700 following a decline in UK retail sales. GBP/USD recovered and steadied above 1.2700 after falling to weekly lows below 1.2680 early in the European session on disappointing UK Retail Sales data. USD struggles to find demand on the upbeat risk mood and allows the pair to hold its ground. 📌The Relative Strength Index (RSI) indicator on the 4-hour chart remains near 50, indicating a lack of directional momentum. If GBP/USD fails to stabilize above 1.2700, then 1.2640 at the 89 EMA could be seen as the next support level ahead of the key 1.2570 level. 📌In case the trend line and support area of 1,264 still holds and pushes GBPUSD price into the bullish range, the current resistance at 1,275 is still weakening before the pair finds a more quality resistance area at 1,280. 🕯Trading signals SELL GBPUSD zone 1.28000-1.28200 SL 1.25800 BUY GBPUSD zone 1.25700-1.25500 SL 1.25200by TVS-TraderUpdated 116
GBPUSDThe GBP/USD pair is exhibiting a bearish outlook on the 4-hour timeframe as it follows an ascending channel pattern. Currently, the price has reached the resistance trendline of this channel. We are awaiting a bearish price action signal to confirm a selling entry. This setup suggests a potential downward movement in the near term.Shortby forex_info3
GBPUSD SHORT IDEAFX:GBPUSD is currently at its 0.78 Fib level on a daily timeframe and forming a bearish divergence at the 1-hour mark. After observing a Break of Structure (BOS), we will enter a short position at the 0.5 fib retracement with a stop loss at a recent high, targeting a 1:2 risk-reward ratio.Shortby itshamzajaved3
British pound buyers pressure to set new recordBy examining the trend in the four-hour time frame, the British pound, on the condition of maintaining and not registering any close candle time of four hours under the support of 1.2729, the rate can increase up to the resistance range of the ascending channel ceiling in the range of 1.2823-1.2814.Longby arongroups4