GBPUSD - SHORT GU formed an ascending channel signalling a reversal and now failed to break a resistance zone adding more confluence to the trade. I'm now anticipating the break of the channel and continuation of the drop.
Gbpusdshort
Reference strategy and analysis of the GBPUSD market today. Idea of the day: sell soup
. GBPUSD price lost its peak above 1.27 after breaking above 1.2674 yesterday. This morning price is retesting the breakout level at 1.2674. The price will likely retest the level around 1.27 and will likely fall again due to the resilience of the US dollar.
. In the first half of this year, the ADX index has risen and shown strong momentum, and the price may have the momentum to retest 1.27. However, 1.2650 remains a strong resistance level and can therefore be sold.
Reference ACE strategy:
Sell GBPUSD 1.2660 SL 50 TP 50 100PIP
Sales limit GBPUSD 1.27 SL 50 TP 50 100PIP
Finally Good Reversal Pattern On GBP/USD , Short Now ? This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
GBPUSD tends to decrease when it encounters resistanceThe British pound has been heavily influenced but the US dollar of recent with investors becoming less hawkish on the Federal Reserve’s interest rate path. Recent weaker US economic data has prompted such an outlook alongside some dovish Fed commentary. During yesterday’s US trading session, the 2nd estimate on US GDP surprised to the upside but the market remained firm on it’s bearish USD viewpoint after the Fed Beige book revealed slowing economic growth and softening prices that will likely extend through to 2024.
Money markets have since priced in 115bps of cumulative rate cuts by the Fed by December 2024. The focal point for the week has always been the upcoming core PCE price index (see economic calendar below) which is the Fed’s preferred measure of inflation. Should actual data fall in line with forecasts, the pound may well find additional support. Jobless claims will also be scrutinized to see whether or not recent labor market weakness continues or was just a blip in what has been a robust part of the US economy.
GBPUSD I Pullback and more potential growthWelcome back! Let me know your thoughts in the comments!
** GBPUSD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
The GBP/USD pair is trending up in the short termThe GBP/USD currency pair is showing an uptrend in the short term. If the exchange rate remains above 1.2672, investors could take profits by going long near 1.2738 and 1.2781. Conversely, if the exchange rate falls below he 1.2672, the investor should go "short" and expect to take profit at 1.2629 and he should book profits at 1.2564.
💡 GBPUSD: Predicted November 27➡️ GBPUSD showed a significant price increase in the last session and is currently nearing the target resistance level of 1.265, as per the double bottom model. It is advisable to consider taking profits on previous buying positions. The upcoming focus should be on monitoring the price action around this resistance level, as the signals observed here will likely indicate the next direction of the price.
💡 GBPUSD: Wait to sell at the reversal signal➡️ GBPUSD has approached the weekly resistance zone and we see the price weakening in momentum. That means the price forms a higher peak, but it is clear that neither the candlestick nor the distance to create the peak is strong.
However, this is not a reversal signal. If we want a reversal trade from this zone, we need more confirmation.
✔️ So with this currency pair, you should first monitor the price action around the current area. If the price forms a strong reversal signal, you can consider selling.
In case the price continues to rise and breaks the current resistance, we will continue to buy.
GBPUSD - Potential retracement ✅Hello traders!
‼️ This is my perspective on GBPUSD.
Technical analysis: Here we are in a bullish market structure from daily perspective, so I am looking for longs. I expect price to make a retracement to fill the imbalance lower and then to reject from bullish order block + institutional big figure 1.23000.
Like, comment and subscribe to be in touch with my content!
GBPUSD: The pound-to-dollar exchange rate fell 0.08% at 1.2594Late last week, the dollar depreciated versus a basket of currencies on reports of strong U.S. business performance in November; however, private sector employment decreased due to forecasts of an impending economic slowdown. the final quarter.
Prior to this, the US Composite PMI Output Index was recorded on Friday by Michael Brown, a market analyst at Trader S&P Global.
In particular, the number remained unchanged at 50.7 this month as a result of a minor increase in activity in the service sector offsetting a decrease in output. An increase in the private sector is indicated by a rating above 50. Businesses are laying off employees as a result of the weak order growth; the employment index in the poll dropped from 51.3 in October to 49.7 in June 2020, the first loss since then.
Downtrend when meeting resistance of GBPUSDSterling was last 0.06% lower at $1.2598, but hovered near Friday's over two-month peak of $1.2615, on data last week showing that British companies unexpectedly reported a marginal return to growth in November after three months of contraction.
"That indicates the resilience of the UK economy despite the very aggressive monetary policy tightening from the Bank of England," said Carol Kong, a currency strategist at Commonwealth Bank of Australia (CBA). "But we still expect the UK economy to weaken and experience a short-lived recession."
The pound was on track for a roughly 3.7% gain for the month, its largest monthly gain in a year, aided by a falling U.S. dollar.
💡 GBPUSD: Predicted November 23➡️ The market experienced a steep decline in the initial half of the session, followed by a resurgence of buying activity that resulted in long candle shadows below. This indicates that sellers did not exert strong dominance. The overall situation has remained relatively unchanged since the last session. Our expectation is for the price to continue its upward movement, approaching the target set by the double bottom pattern. It is advisable to steadfastly maintain your existing long positions.
GBPUSD Imminent sells towards 1.225500GBPUSD Is still bullish due to the continuous break of structures to the upside however, It has tapped into a nice supply which I expect to cause a correction back down to a demand level at 1.225500. This is an opportunity I will be looking to take soon as market opens therefore, I will be waiting for a CHOCH to validate my Wyckoff distrubution and I will be waiting for a sweep of the asian high before I consider imminent sell positions.
As price is currently In a clean 15hr supply that has caused a BOS to the downside, I would be expecting price to have some sort of reaction, hence why I am anticipating a pull back so we can end up continuing our bullish bias upwards.
My confluences for GBPUSD shorts are as follows:
- Price tapped into 15hr supply zone that broke structure to the downside.
- Overall trend of the market on the higher time Frame like (monthly) is still bearish.
- Price distributing currently pending a CHOCH to validate our sell position bias.
- Price requires a pullback of some sort due to the recent impulsive moves to the upside.
- For price to continue in its bullish trend it will need to form a correction and tap in demand.
- Price has swept lots of liquidity to the upside, enough to move the markets back down.
P.S. Even though price has entered a supply, this is just a short term trade idea in order to sell down towards a demand. This is where we will be looking to buy the market back up again in order to catch a pro trend trade. Hope you guys found this post insightful, HAPPY TRADING!
GBPUSD → Reverse to the Downside This Week!? Or Blast Upward?GBPUSD is flirting with the resistance zone, leaving the bulls wondering if another fall in this trading range is upon us this week. But is the dollar strong enough to take the British Pound into the ground?
How do we trade this?
The price is currently in a trading range between 1.20000 and 1.28000 and we're getting close to the resistance zone where the Weekly 200EMA resides. If you're not already in a trade, it's worth waiting to see what happens at the resistance zone. A bear signal bar closing on or near its low below the resistance line is a good indicator that the price will fail to rise above again and would be a reasonable short. Stop loss above the resistance zone top and take profit just above the Support Zone around 1.21000.
If the price finds its way above the resistance lines and closes a bull candle on or near its high, it would be reasonable to long with a protective stop just below the resistance zone. Target prices as high as 1.33000 and 1.40000.
Key Takeaways
1. Trading Range after Bull Run, Bias to Long.
2. Near the Resistance Zone, Look for a Reversal Signal.
3. If Shorting, Watch the 200EMA for Support.
4. The Dollar Index may fall more, wait for the bottom.
5. RSI near 70.00, Bias to Short.
You are solely responsible for your trades, trade at your own risk!
If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
EURUSD I Pullback and more potential growthWelcome back! Let me know your thoughts in the comments!
** EURUSD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future.
Thanks for your continued support!
GBPUSD will decrease when it hits resistanceGBPUSD is a bit clearer as we can see a clear pattern of higher highs and higher lows this week. The question will be whether bulls have one more push to the upside and push Cable toward the 1.2600 handle.
If we do break below the 50-day MA we have support at the 1.2400 mark and lower at the 1.2360 mark. A selloff ahead of the weekend may also be on the cards as this would be down to profit taking as buyers who got in during the early part of the week may want to close out before the weekend. A lot will depend on the return of liquidity tomorrow and how much risk market participants are willing to take before the weekend.
GBPUSD Potential ShortsLooking to short GU based on the 1HR liquidity sweep
Price came back into our distribution area on the left and re-distributed on the 15 MIN. Entering off 15Min OB
GBPUSD Shorts from 1.25500 down towards 1.24000This bias for GBPUSD this week is not as clean in terms of price entering an ideal zone however, it's still a possibility that could happen so let's look at how we could sell GU. As we know this market has been in a small uptrend recently but, I am still overall bearish (looking at the HTFs) Therefore, I would be waiting for price to enter a near by supply so we can at least sell down towards a demand zone to continue the temporary bullish trend.
Currently, it is approaching a 9hr supply that has caused a small BOS to the downside and price will require some sort of pull back to continue going upwards, hence why this is a counter trend idea. We are also reaching a psychological level of 1.25500 which is another good sign to anticipate a reaction, as this would tell us if price would want to retrace or keep pushing higher.
Confluences for GBPUSD shorts are as follows:
- Price approaching 9hr supply zone that has caused a BOS to the downside.
- The zone also lies between a psychological key figure of 1.25500.
- Pending correction is likely to happen due to the impulse move that has been taken place.
- Lots of liquidity left below in the form of asian lows and there is huge imbalances as well.
- Overall market trend for GU is bearish according to the monthly/weekly time frame.
- Price has swept lots of liquidity already to the upside and momentum is dying down slowly.
P.S. As price still looks pretty bullish I won't be surprised if this zone doesn't hold however, there is also better supply zones above like the 15hr which looks more probable. For now we will wait for our Wyckoff distribution to play out & see if price gives us an entry model for sells.
GBPUSD✔️Corrective Movement Area✔️GBPUSD is expected to fall
🔴Recommended to consider Selling from Seller Limit Area
1.2525 & 1.2570 Zone.
🔴Now try to move down with new Sellers.
⚠️SELL the TOPS!!!
#GBPUSDIt is moving in an ascending channel, and a negative divergence can be seen around the ceiling of the channel in the 2-hour time frame, which can make a pullback to the neck line range. Therefore, with the loss limit above the new ceiling, a short trade can be entered.
GBPUSD: The British Conservative Party eyes tax cuts in the budgThe Sunday Times reported:
Britain's Chancellor of the Exchequer Jeremy Hunt is considering cutting income tax and national insurance in a bid to improve his standing in the polls.
Jeremy Hunt told Sky News:
“We want to responsibly reduce our tax burden.”
"The only thing we won't do is not give any tax cuts that could cause inflation."
It could allow heirs to defer taxes and consider instead giving tax breaks to low- and middle-income earners.
GbpUsd sell position analysis As we have CHoCH and a BOS now we have to look for a pull back to go short.
For more confirmation you can wait for a CHoCH in 1min TF after the price has reached to this level.
Let see what will happen...
Good luck
Gbpusd #GBPUSD in Daily time Frame Setup In this setup GBPUSD will down on coming week after breakout We are looking for Breakout proper then We Enter for Sell
