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Gbpusdidea

GBP/USD price action appears to be weak, trade with cautionAfter hitting the lows at mid-1.21 levels, GBP/USD made a decent recovery. However, the recovery appears to have run out of steam now. Price action over the last few days has been weak and currently, GBP/USD has edged lower below the 100 period EMA on the 4hour chart. So, bulls need to be careful here. There is a chance that GBP/USD may visit the recent lows once again. If bearish price action persists, I would recommend traders to short GBP/USD@1.2570 with SL above 1.2650 and TP at 1.22
by KaltoireCapital
5
GBPUSD gonna pullbackGU try to pullback at 1.276xx than continue bearish pattern! Remember, there is no place for luck in trading - only your trading strategy! This analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions. For best result in trading follow these rules for best result! 1. WHAT IS THE OVERALL TREND? PRICE ACTION WILL GIVE YOU CLUE! 2. IS PRICE AT A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)? 3. IS PRICE APPROACHING A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)? 4. ARE YOU TRADING WITH THE TREND OR AGAINST THE TREND (MAKE SURE YOU ONLY TRADE AGAINST THE TREND ON THE 4HR TIME-FRAME AND ABOVE. 5. AND MUST CHECK THE DIVERGENCE.
Long
by Analyst_MahfuzAzim
GBPUSDI wrote in my last piece on 16th May that despite the long-term bearish trend and the price still not far off that long-term low, we were seeing an important bullish sign – a first higher low at $1.2226. I thought the best approach would be to stand aside and wait for the price to get established below $1.2226 (bearish sign) or above $1.2277 (bullish sign). It seemed quite possible that the price would basically hold within this range until the end of today’s London session. This was a good call, as waiting for the breakout above $1.2277 at the end of the day would have produced profit over the next day, and close to 300 pips of profit if that long trade was held open until now. We have seen a quite strong reversal in the US Dollar over the past week or so, after the greenback rose firmly for several consecutive weeks and reached new 1 year+ highs. The move against the Dollar is universal and is benefiting almost every other currency, and the British Pound is no exception. Of course, this may just be a retracement in the long-term bullish trend in the US Dollar, which could reassert itself. My feeling is that the Dollar decline will continue at least until the FOMC Meeting Minutes are released on Wednesday. It is hard to see what other news could change sentiment before then, there is nothing of high importance scheduled before then. I will be happy to take a long trade today from a bullish bounce at $1.2500.
Long
by SmoothJB
GBPUSD Gonna Test Bearish TrendlineHello, everyone! From last week POUND try to pullback the bearish channel, And surely we’ve taken the bull ride! Remember market speculators are still bearish  they will be adding more shorts add in pullback and there will lot of liquidity waiting 1.275xx range! So trade safely with risk management and surely with a plan! Remember, there is no place for luck in trading - only strategy! For best result in trading follow these rules for best result! 1. WHAT IS THE OVERALL TREND? PRICE ACTION WILL GIVE YOU CLUE! 2. . IS PRICE AT A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)? 3. IS PRICE APPROACHING A LEVEL OF SUPPLY OR DEMAND (SUPPORT OR RESISTANCE)? 4. ARE YOU TRADING WITH THE TREND OR AGAINST THE TREND (MAKE SURE YOU ONLY TRADE AGAINST THE TREND ON THE 4HR TIME-FRAME AND ABOVE. 5. AND MUST CHECK THE DIVERGENCE.
Long
by Analyst_MahfuzAzim