GU BUY OPPORTUNITY!Price holds above 1.2704 ahead of US PCE. a buy opportunity is envisaged if price trades back to 1.2723 (buy stop order) Target $1.28Longby Cartela2
Market Analysis: GBP/USD DipsMarket Analysis: GBP/USD Dips GBP/USD is attempting a recovery wave from 1.2680. Important Takeaways for GBP/USD Analysis Today The British Pound started a fresh decline from the 1.2800 resistance zone. There is a key bearish trend line forming with resistance near 1.2740 on the hourly chart of GBP/USD at FXOpen. GBP/USD Technical Analysis On the hourly chart of GBP/USD at FXOpen, the pair started a fresh decline from the 1.2800 zone after a decent increase, as mentioned in the previous analysis. The British Pound traded below the 1.2740 support to again move into a short-term bearish zone against the US Dollar. The pair even traded below 1.2710 and the 50-hour simple moving average. Finally, the bulls appeared near the 1.2680 level. A low was formed near 1.2680 and the pair is now attempting a short-term recovery wave. There was a fresh upside above the 1.2710 level. The pair climbed above the 23.6% Fib retracement level of the downward move from the 1.2800 swing high to the 1.2680 low. Immediate resistance on the upside is near the 50% Fib retracement level of the downward move from the 1.2800 swing high to the 1.2680 low at 1.2740 and the 50-hour simple moving average. There is also a key bearish trend line forming with resistance near 1.2740. The first major resistance on the GBP/USD chart is near the 1.2770 level. A close above the 1.2770 resistance might spark a decent increase. The next major resistance is near the 1.2800 level. Any more gains could lead the pair toward the 1.2880 resistance in the near term. Initial support sits near 1.2710. The next major support sits at 1.2680, below which there is a risk of another sharp decline. In the stated case, the pair could drop toward 1.2620. Trade over 50 forex markets 24 hours a day with FXOpen. Take advantage of low commissions, deep liquidity, and spreads from 0.0 pips. Open your FXOpen account now or learn more about trading forex with FXOpen. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.by FXOpen227
correction It is expected that the price will fluctuate in the current support range and then the beginning of an upward trend will be formed. By passing the resistance range, it will be possible to continue the upward trend. If the price crosses the green support zone, the downward trend will continueShortby STPFOREX1
Supply and Demand Trading Patterns and StrategiesSupply and Demand Trading Patterns and Strategies Understanding the nuances of supply and demand is essential for traders to discern potential market reversals, identify trend continuations, and execute well-informed trading strategies. This article delves into the core patterns and strategies of trading based on these zones, providing a structured approach to identifying potential trading opportunities. What Are Supply and Demand Zones? Supply and demand zones are specific areas on a chart that indicate where the price of an asset has historically made significant moves, either upwards or downwards. These zones are identified by observing patterns where price action has shown a strong reaction—either a sharp increase (demand zone) or a sharp decrease (supply zone). A demand zone is typically found where the market has stopped falling and then shot upwards. This area represents a level where buyers found the price attractive enough to enter the market in large numbers, driving it up. Conversely, a supply zone represents a level at which selling interest overcomes buying pressure, causing the price to fall sharply. This is typically where sellers find the asset overvalued and decide to exit their positions or open new positions to sell. These zones are typically drawn at the ‘bases’ found in the patterns described below, from the consolidation’s low to high. Identifying these zones can provide traders with insights into potential future movements, as prices often retest these levels. When the price returns to a supply or demand zone, it can indicate an opportunity for traders to open new positions in anticipation of a repeat of past market behaviour. The Role of Accumulations and Distributions Accumulation and distribution are critical in understanding how supply and demand zones form and behave in financial markets. These terms describe the actions taken by influential market players—often large institutional investors or "smart money"—as they prepare for a potential price movement. They form a key component of Wyckoff trading. Accumulation occurs when these entities begin to buy or "accumulate" a long position over a period, typically at lower levels. This phase is generally not accompanied by a notable price increase, as the buying is done gradually to avoid significant movements that could attract attention. The end of an accumulation phase is often marked by a reaccumulation, where buying resumes after a brief rally and pullback/consolidation, further establishing a demand zone. Distribution reflects the opposite scenario, where large holders begin to sell their holdings, usually after a rise. This selling does not immediately lead to a drop; it happens subtly to prevent a drastic decrease in price. Following a distribution phase, a redistribution might occur where selling continues after a minor rally or consolidation—this process helps solidify a supply zone. The Four Key Patterns in Supply and Demand Trading Recognising specific patterns in supply and demand zones can significantly assist traders in determining potential market movements. These patterns, derived from price action and the behaviour of market participants, provide visual cues on charts that suggest future trajectories. Here are four key patterns: 1. Rally-Base-Rally (RBR) This pattern is a bullish indicator and occurs as the price leaves an accumulation/demand zone. The sequence starts with a rally, where there is a noticeable upward movement. This is followed by a base, a period where prices consolidate within a relatively narrow range, indicating a balance between buyers and sellers. The pattern completes with another rally, suggesting that demand has overwhelmed supply, pushing prices higher. Recognising the Rally-Base-Rally pattern can signal traders to consider a long position as the market sentiment will likely continue upward. 2. Drop-Base-Drop (DBD) Mirroring the RBR, the Drop-Base-Drop pattern is a bearish formation found after a successful distribution from a supply zone. It begins with a drop, indicating strong selling pressure. The base phase occurs next, where the price moves sideways briefly, showing uncertainty or equal force from buyers and sellers. A subsequent drop follows, demonstrating renewed selling pressure and an overpowering supply. As the price leaves the base, there’s a potential selling opportunity for traders expecting further declines. 3. Rally-Base-Drop (RBD) The Rally-Base-Drop pattern typically signals the formation of a supply zone and is indicative of a bearish reversal. It starts with a rally, where buyers temporarily gain control. However, this rally is short-lived and leads into a base phase—a period of consolidation. The critical phase is the subsequent drop, where sellers dominate, reversing the initial upward trend. This pattern is particularly valuable for traders looking to capture the shift from a bullish to a bearish market. 4. Drop-Base-Rally (DBR) Contrary to RBD, the Drop-Base-Rally pattern indicates a bullish reversal and creates a demand zone. It starts with an initial drop, reflecting strong selling. This phase is followed by a base, where the market finds equilibrium and the selling pressure begins to wane. The final phase is a rally, suggesting that buyers have regained control and are likely to push prices higher. This pattern aids traders in spotting potential entry points for long positions as the market sentiment shifts from bearish to bullish. To try spotting these patterns for yourself, head over to FXOpen’s free TickTrader platform to access real-time charts. How to Trade Supply and Demand Zones Trading supply and demand zones effectively involves understanding their potential role as areas of support (demand) or resistance (supply). In an established trend, these zones are formed from bases—periods of consolidation—that, once the price breaks out and moves in a consistent direction, are likely to act as areas of support or resistance on return. For instance, in a Rally-Base-Rally (RBR) pattern, the base, after the initial rally, is likely to act as a demand zone. If prices revisit this base, it typically serves as a support level, where the price is expected to stop falling and start rising again. Conversely, in patterns like Drop-Base-Rally (DBD), the base also functions as a demand zone. Here, if the price falls back to this zone, it is anticipated to encounter support, leading to a potential bullish move away. Supply and Demand Zones: Trading Strategies Trading strategies based on supply and demand zones are centred around the identification and reaction to key levels that indicate underlying shifts in market sentiment. Traders often focus on how price exits these zones to gauge potential continuation or reversal of trends. Strategy for Rally-Base-Rally (RBR) and Drop-Base-Drop (DBD) This Drop-Base-Drop/Rally-Base-Rally strategy capitalises on the formation of a base after a distinct move that often breaks an established trend, i.e. moving sharply above a lower high in a downtrend or higher low in an uptrend. Traders look to this pattern as it leverages the momentum generated from a strong initial move (rally or drop) followed by a stabilisation period (base) that offers a clear breakout point, indicating a potential trend continuation. Entry Traders typically monitor the price as it rallies or drops, forming a base. A breakout from the consolidation zone is awaited, where the price moves above the high in RBR or below the low in DBD. Entry may be made via a stop order at the breakout point to capture the movement as it happens. Stop Loss It may be placed just outside the opposite side of the base range to protect against false breakouts. Take Profit It may be set at previously identified supply or demand zones where price may potentially react and reverse. Strategy for Rally-Base-Drop (RBD) and Drop-Base-Rally (DBR) This approach focuses on reversal patterns forming in established supply or demand zones, offering insights into potential trend shifts. It utilises the inherent strength of existing supply or demand zones, coupled with a clear reversal pattern, to identify high-probability trades in line with the trend's direction. Entry Traders observe an established supply or demand zone and look inside it for an RBD or DBR pattern formation, respectively. A break of a significant high (in downtrends) or low (in uptrends) within these zones signals the strength of the pattern. Following the break, traders wait for a retracement back to the zone, placing a limit order at the edge of the zone. Stop Loss It may be positioned just beyond the opposite side of the zone to safeguard against the price moving beyond the established boundary of the zone. Take Profit It may be targeted at the next significant supply or demand zone that could oppose the current movement. The Bottom Line Supply and demand zones and their related patterns can offer traders a potential edge across various asset types, including forex, stocks, commodities, and cryptocurrencies*. The strategies described can be a great starting place for anyone looking to explore this trading style. If you’d like to put this theory into practice, consider opening an FXOpen account to access a wide range of assets and our advanced TickTrader platform. FAQs What Is a Supply and Demand Zone in Trading? Supply and demand zones are specific areas on a trading chart where significant buying (demand zones) or selling (supply zones) activity has occurred, causing the price to move dramatically. These zones are used to identify potential areas where the price might either stall or reverse based on past trading activity. What Is the Difference Between Supply & Demand Zones and Support & Resistance Zones? While both supply and demand zones and support and resistance zones identify key levels, supply and demand zones are identified by areas that cause substantial price movements, whereas support and resistance are defined by frequent price reversals at certain price levels. What Are the 4 Stages of the Market Cycle? The four stages of the market cycle include Accumulation, Markup, Distribution, and Markdown. These stages describe the systematic process of price movement in markets, from periods where smart money accumulates positions to phases where these positions are distributed, leading to price declines. *At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules, respectively. They are not available for trading by Retail clients. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.Educationby FXOpen229
GBPUSD H4 | Potential bearish reversalBased on the H4 chart analysis, we can see that the price has just reacted off our sell entry at 1.2744, which is an overlap resistance. Our take profit will be at 1.2669 an overlap support level. The stop loss will be placed at 1.2804, which is an overlap resistance 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. 68% 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. 70% 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. Shortby FXCMUpdated 8
GBPUSD H4 | Potential bearish reversal?Based on the H4 chart analysis, we can see that the price is rising toward our sell entry at 1.2804, which is an overlap resistance. Our take profit will be at 1.2695, an overlap support level. The stop loss will be placed at 1.2891, a swing-high resistance level, above 161.8% Fibo extension 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. 68% 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. 70% 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. Shortby FXCMUpdated 8
GBPUSD SELL NOW!!!!!!!!!!!GBPUSD made a price rejections with a bullish engulfing candles taking out all the fvg zone after the price rejections am expecting price to sweep liquidity below 1.24440 am in on sell holding till target is completed JOIN AND ENJOY.........Shortby CAPTAINFX26
GBPUSD potential head and shoulders patternOn the 4-hour chart, GBPUSD has formed a potential head and shoulders top pattern in the short term. Currently, we can focus on the support near 1.268. If it falls below, it is expected to fall further, and the downside target is around 1.256.Shortby XTrendSpeed1
GBPUSD recovered insignificantlyThe GBP/USD pair weakened to 1.2695 during the Asian session The GBP/USD pair fell to 1.2695 during the Asian session on Thursday. The main cause of this decline was the strengthening of the US Dollar (USD) amid higher US interest rates and reduced expectations of an interest rate cut by the Federal Reserve (Fed) in September. In recent weeks, Fed officials have taken a cautious stance on the inflation outlook, leading traders to reduce expectations for an easing cycle this year. Market movements According to the CME FedWatch Tool, markets are pricing in a 50% chance that the Fed will leave interest rates unchanged in September. The combination of the Fed's cautious stance and stronger US economic data has provided support. support for the USD in previous sessions. Economic forecast Investors will get more cues from the second estimate of U.S. Gross Domestic Product (GDP) for the first quarter of 2024, which is expected to grow 1.3%. If the report shows better-than-expected results, this could boost USD further and create a drag on GBP/USD. Additionally, economic data such as US Weekly Initial Jobless Claims, Merchandise Trade Balance and Pending Home Sales will be released later in the day. Statements from Fed officials such as Raphael Bostic, John Williams and Lorie Logan are also expected to have an impact. Support: 1,265- 1,260 Resistance: 1,275 - 1,280by TVS-TraderUpdated 223
Consider buying GBPUSD at the current price of 1.27227Consider buying GBPUSD at the current price of 1.27227. Set your take profit levels at 1.27800, 1.27950, and 1.28030 to capitalize on potential gains. In case the trade moves against you, be prepared to close it at the stop loss level of 1.27022.Longby FOREX_trade_01Updated 33143
GBPUSD Trading Plan - 30/May/2024Hello Traders, Hope you all are doing good!! I expect GU to go Up from the FS (For3xScalper) Box. If it starts to give correction here, then we can go further down to 1.27 level. Look for your BUY setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.Longby For3xScalper335
MARKET STRUCT USING ICT CONCEPTThe Inner Circle Trader (ICT) concept in trading, developed by Michael J. Huddleston, offers a comprehensive approach to understanding and navigating market structure. ICT emphasizes the importance of market structure, which refers to the organization and arrangement of various market components, such as support and resistance levels, trends, and price patterns. This approach involves identifying key levels where institutional investors might be placing orders, understanding liquidity pools, and recognizing the behavior of smart money. By focusing on these elements, traders can better predict market movements, identify high-probability trade setups, and manage risks effectively. The ICT methodology combines technical analysis with a deep understanding of market dynamics to provide traders with a robust framework for making informed trading decisions.Education18:57by FrankFx140
gbpusd shortTesting a model see what happens. expecting it to drop at around 10-11 to test the low of the 8am utc-4 candle, if break then further down we goShortby bstarlegendUpdated 6
4HR demand zone continuation on LTF4HR candle has shown bullish bias after 4HR demand zone POI was tapped into. LTF scalp for about 40 pips is the goal, TP was decided on previous highs from the HTF demand zone.Longby wateronjacob0
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
GBPUSD I Bullish trend continuation Welcome 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!Welcome back! Let me know your thoughts in the comments!Long03:45by BKTradingAcademy119
GBPUSDPair : GBPUSD ( British Pound / U.S Dollar ) Description : Completed " 12345 " Impulsive Waves and " AB " Corrective Waves Break of Structure Rising Wedge as an Corrective Pattern in Short Time Frame RSI - Divergence Fibonacci Level - 78.60%by ForexDetective4
GBPUSD Shorts - A Fundamental OutlookAnalysis and Strategy for GBPUSD Current Situation: The GBPUSD has surged from 1.23 to 1.28 based on the recent weakness in the DXY (US Dollar Index). However, upcoming news events and economic data releases suggest that the pair may correct back to the 1.25 level. Upcoming News Events and Data Releases: May 30, 2024: Preliminary GDP q/q: A measure of the annualised change in the inflation-adjusted value of all goods and services produced by the economy. Higher-than-expected GDP growth can strengthen the USD. Unemployment Claims: The number of individuals who filed for unemployment insurance for the first time. A lower number suggests a stronger labor market, potentially boosting the USD. Pending Home Sales m/m: Measures the change in the number of homes under contract to be sold but still awaiting the closing transaction. Strong data can support the USD. FOMC Meeting: Statements and interest rate decisions from the Federal Open Market Committee can significantly impact the USD. May 31, 2024: Core PCE Price Index m/m: A major inflation indicator for the USD. Higher-than-expected inflation can lead to increased expectations of interest rate hikes, strengthening the USD. Interest Rates: USD: 5.5% GBP: 5.25% Currently, interest rates favour dollar strength, suggesting potential downside pressure on GBPUSD. Interest Rate Reviews: GBP: June 20, 2024 USD: June 11-12, 2024 Trading Strategy: To capitalise on the potential retracement down to 1.25, place short orders once the price breaks and stabilises below the 1.27 level. Keep an eye on the economic calendar when placing your entries! Good luck guys!Longby TheForexMessiahUpdated 115
GBPUSD LONGOn last week's setup, Price pulled back to my entry on Friday of which I do not take new entries on Friday. Now following structure and moving forward, Therefore; Market Structure is still bullish on HTFs Potential entry at Daily AOi Weekly Rejection from AOi Bullish momentum on the weekly showing lots of buyers in the market Daily Rejection at AOi Around Psychological Level 1.27000 H4 Candlestick rejection Y Possible EMA retest Levels 4.96 Entry 70% REMEMBER: Trading is a Game Of Probability : Manage Your Risk : Be Patient : Every Moment Is Unique : Rinse, Wash, Repeat! : Stay Hydrated #Follow#Share#Comment#Boost Price likely to go higher and break my current Resistance level, Retest for further go long, Looking to React to the market accordinglyLongby mobbie_zwUpdated 5
GBPUSDGBPUSD is about to entered in strong resistance zone. Price is been on strong bullish run from last few days but now has entered into bears territory, will the bears get active active and send price back to 2370 region ?by JustTradeSignals225
Casting the Trade Spell Riding the waves of GBPUSD CORRECTION Hello dear traders what do you think about this pair please comment..!? 📉 Behold the tumultuous dance of the GBP/USD currency pair as it boldly shatters the chains of its trend line and crucial support zone! 🎯 With precision akin to a seasoned archer, it now sets its sights on a predetermined destination. 🏹 As the correction journey unfolds, a tantalizing prospect emerges—a potential pullback to revisit the sacred ground it once conquered. 🔄 Amidst the charts and candlesticks, a golden opportunity gleams like a hidden treasure—a chance to wield the scepter of the seller and navigate the waves of correction with finesse. 💼💰 Let us embark on this voyage with confidence and strategy! 🚀 Trend Line: The breach of a long-standing trend line typically signals a potential shift in market sentiment. This trend line could have acted as a dynamic support or resistance, and its break suggests that the previous trend might be weakening or reversing. Support Zone: The break of a crucial support zone is often considered a bearish signal. This zone might have been providing a psychological floor for buyers, and its failure could trigger stop-loss orders, accelerating the downward movement. Longby MrCharlie1Updated 58
GBPUSD: Day 3 breakout traders long in the marketHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you! “Trade setups, not movements” 1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion) Monday DAY 1 Opening Range Tuesday DAY 2 Initial Balance ✅ Wednesday DAY 3 (reset DAY 1) Mid Point Week Thursday DAY 2 Friday DAY 3 Closing Range 2. SIGNAL DAY First Red Day First Green Day 3 Days Long Breakout ✅ 3 Days Short Breakout Inside Day 3. WEEKLY TEMPLATE Pump&Dump Dump&Pump ✅ Frontside ✅ Backside 4. THESIS: Long: primary, today is Tuesday day 2, typically the market expands the range, Asia place a higher high and dumped down, starting consolidating, there a possibility to see a high low range extension for 100% at leat of the range. Short: secondary, price anyway is at the current HOW, it could give a short scalp HOW to LOW if setup correctly Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement. Gianni Longby GianniPichicheroUpdated 556
GBP/USD not backing down despite rejection at 1.28GBP/USD turned bearish on Wednesday after being rejected at 1.28 the day prior. It’s not the first time the pair has been rejected at that level which suggests it has become somewhat of a psychological barrier, at which buyers need to show increased commitment to overcome. The reversal came in part due to the uptick in the US dollar, but other GBP pairs also struggled for momentum. Hawkish commentary from FOMC members has been reviving the rally in the dollar in recent weeks after struggling to catch bids for most of the past two months. Neel Kashkari, President of the Federal Bank of Minneapolis, said on Tuesday: ‘I don’t think anybody has totally taken rate increases off the table. I think the odds of us raising rates are quite low, but I don’t want to take anything off the table.’ This is just the latest of a list of comments from Fed speakers that have led markets to write off hopes for rate cuts this year. Rate cut odds have dropped from six 25 bps cuts in 2024 at the beginning of the year, to just one, now expected between November and December. But if data continues to show resilience, these odds will likely decrease further. The realisation that the Federal Reserve was not going to start cutting as soon as the new year came around was the key driver behind the strength in the US dollar during the first four months of the year, as rate differentials played in favour of the US currency. But expectations of rate cuts have been pushed back elsewhere too, including in Europe and the UK. This led to re-adjusted rate differentials as overnight index swaps started to price out rate cuts from the ECB and BoE, weighing on the dollar and allowing the likes of EUR/USD and GBP/USD to recover some bullish momentum. Looking ahead, the primary catalyst for USD pairs will be the PCE index data released on Friday. The figure is expected to remain mostly unchanged following its year-long trend but any surprises could create some volatility. Continued pushback in rate cut expectations in the US could solidify the reversal in the dollar, weighing on GBP/USD. The pair seems to be holding onto some bullish appetite as Wednesday’s pullback deepened during the Asian session on Thursday but quickly reversed higher as traders came online in London on Thursday morning. GBP/USD is now contained just below the 61.8% Fibonacci (1.2718) awaiting further momentum to break higher. The current setup suggests the path of least resistance remains higher with any pullbacks expected to be technical corrections with limited uptake as long as the pair remains above 1.2643. Beyond this level, the ascending trendline from the April 22 and May 9 lows could offer support around 1.2620, before the next Fibonacci comes into play at 1.2588. by CapitalcomUpdated 2