Get started

Gbpusdshort

GBPUSD. SELL HERE!Certainly, here's the translation of your technical analysis for GBP/USD today: 1. In terms of market structure, GBP/USD is clearly in a downward trend. It exhibits lower highs and lower lows. 2. It appears that GBP/USD may be following a 5-wave structure. At points 0, 1, and 2, we can anticipate that GBP/USD will continue to decline in the near future. 3. Trendlines indicate that the price continues to respect the slope and wave amplitudes. Indicators and volume suggest that the price is slowly decreasing. It is predicted that there will be a corrective wave 3-4 soon. 4. Prediction: When the price approaches the upper trendline, we can consider SELLING based on the descending structure of GBP/USD in waves 4-5. This may mark the temporary end of the downtrend. Please note that this analysis is based on technical indicators and historical price patterns, and actual market movements may vary. Always use proper risk management and consider multiple factors when making trading decisions.
Short
by KC_Trader77
3
GBP/USD: UK Retail Sales Miss Estimates, Pound Sterling Faces...UK Retail Sales Miss Estimates, Pound Sterling Faces Headwinds The latest data from the Office for National Statistics (ONS) has revealed that UK Retail Sales in August fell short of expectations, adding to concerns about the country's economic trajectory. The Pound Sterling (GBP) has faced headwinds as a result of this disappointing retail trade data. Here are the key highlights from the recent release: 1. Monthly Retail Sales Figures: UK Retail Sales increased by 0.4% in August, falling short of the 0.5% expected and marking a modest recovery from the previous month's -1.1% decline. Core Retail Sales, which exclude auto and motor fuel sales, saw a 0.6% month-on-month rise, in line with expectations, but failing to fully offset the previous month's -1.4% drop. 2. Annual Retail Sales Data: On an annual basis, Retail Sales in the United Kingdom experienced a decline of 1.4% in August, compared to an anticipated -1.0%, and following July's sharp 3.1% drop. Core Retail Sales also exhibited a 1.4% decline during the reported month, surpassing expectations of -1.3% but indicating a significant contraction compared to the -3.3% decline in the previous period. 3. Economic Challenges Persist: These figures underscore the challenges facing the UK economy, with firms exercising caution by limiting their operating capacity and curbing labor growth. The economic landscape remains vulnerable, and the recent data highlights the complexities that the Bank of England (BoE) faces in its attempts to navigate through these challenges. 4. BoE's Monetary Policy: On Thursday, the BoE maintained the possibility of further policy tightening should inflationary pressures persist, emphasizing its commitment to addressing both inflation and potential recession risks. The central bank's stance reflects the delicate balancing act required to sustain economic stability. In conclusion, the UK's retail trade data missing estimates has added to the complexities faced by the Pound Sterling and the broader economy. The Pound continues to navigate policy divergence with the Federal Reserve and grapples with economic uncertainties. As the BoE keeps a watchful eye on inflation, the GBP's path ahead remains uncertain, with the economy striving to regain its footing amid challenging conditions. Our preference Short positions below 1.2310 with targets at 1.2215 & 1.2180 in extension.
Short
by FOREXN1
5
GBP/USD Remains Defensive as Market Awaits Key Economic DataGBP/USD Remains Defensive as Market Awaits Key Economic Data The GBP/USD pair finds itself on the defensive below the mid-1.2200s as the Asian trading session kicks off on Monday. Market participants are keeping a close eye on upcoming economic data releases, with the UK's Gross Domestic Product (GDP) for the second quarter and the US Core Personal Consumption Expenditure (PCE) Price Index data slated for release later in the week. As of now, the major currency pair is hovering near 1.2242, registering a modest 0.02% gain for the day. The recent hawkish rhetoric from Federal Reserve (Fed) officials has lent support to the US Dollar (USD) against the British Pound (GBP). Presidents of the Fed Banks of Boston and San Francisco, Susan Collins and Mary Daly, have underscored the importance of further rate hikes despite signs of cooling inflation. This stance could potentially act as a headwind for the GBP/USD pair. Pound Sterling (GBP) has been enduring a three-day losing streak, driven by growing uncertainty surrounding the UK's economic prospects. S&P Global recently reported that UK Services PMI contracted for the second consecutive time, indicating a downturn in the nation's services sector. Bank of England (BoE) policymakers have shifted their focus to the UK's economic outlook in the face of persistent inflationary pressures. The GBP/USD pair faced significant pressure following an unexpected pause in the BoE's policy-tightening measures last week. This sudden deviation from expectations, where an interest rate increase was anticipated, raised concerns about potential economic slowdown in the UK. Uncertainty over the interest rate outlook has added to the GBP's woes, exacerbated by the upcoming general elections. UK Prime Minister Rishi Sunak has pledged to reduce inflation to 5.3% by year-end, but the BoE's rate pause suggests challenges in fulfilling this promise. The UK economy has already felt the impact of higher interest rates, with both manufacturing and services activities showing signs of contraction. In this climate of uncertainty, the GBP/USD pair faces headwinds, and investors will be closely monitoring key economic data releases to gauge the future direction of this currency pair. The upcoming GDP data for the UK and the Core PCE Price Index for the US could provide crucial insights into the economic health of both nations and impact currency markets accordingly. Our preference Short positions below 1.2310 with targets at 1.2180 & 1.2100 in extension.
Short
by FOREXN1
7
GBPUSD Technical Analysis and Trade IdeaDelving into the GBPUSD currency pair's analysis, we observe a significant development: it has reached a crucial support level after experiencing a substantial bearish trend. At this juncture, it becomes apparent that the price is stretched, potentially signaling an impending retracement. As always, the video accompanying this description offers a comprehensive exploration of key factors, including price action, market structure, and various critical aspects of technical analysis. It is imperative to stress that the information shared in this content is exclusively for educational purposes. It should not, under any circumstances, be construed as financial advice. Therefore, it remains paramount to exercise diligent risk management strategies when participating in trading activities.
Short
by fxtraderanthony
4
GU - Weekly Timeframe Analysis (ICT)Based on my DXY analysis, I will be expecting lower prices on GBPUSD. I see a potential short opportunity presenting itself when/if prices retraces back into the 2-Week iFVG/Bisi, using the Monthly Reclaimed Orderblock and Breaker Block as resistance. Only thing I will be wary of is price tapping above the previous week's high before displacing lower, targeting the 2-Week Bisi and NWOG below. With the high-impact news drivers this week, it is my assumption that it will happen with speed.
Short
by Road_2_Funded
2
GBPUSD LONG TERM BUY IDEAAug 28 Hello Traders In This Chart GBPUSD HOURLY Forex Forecast By FOREX PLANET today GBPUSD analysis 👆 🟢This Chart includes_ (GBPUSD market update) 🟢What is The Next Opportunity on GBPUSD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the ChartS
Long
by ForexPlanet20