A nice 1:1 trade to the upside Price has now filled the gap from last week, also there is imbalance from last night’s market close. It will be filling this shortly Fundamentally GBP was already on a bullish run so trading with the trend Longby Hedge_King0
Fundamental Market Analysis for May 1, 2024 GBPUSDEvents to watch out for today: 17:00 GMT+3. USD - ISM manufacturing index 21:00 GMT+3. USD - FOMC decision on the key interest rate GBPUSD: GBPUSD is holding below 1.2490 during the early Asian session on Wednesday. The major pair's decline is supported by a strengthening US Dollar (USD) amid cautious sentiment ahead of the US Federal Reserve's (Fed) interest rate decision later on Wednesday. On Tuesday, the Conference Board (CB) US consumer confidence index fell to 97.0 in April from 103.1 in the previous reading, the lowest level since July 2022. Meanwhile, the Chicago Purchasing Managers' Index fell to 37.9 in April from 41.4 in March, below the market consensus forecast of 44.9. This reading recorded the lowest level since November 2022. Finally, the U.S. Employment Cost Index (ECI) rose 1.2% QoQ in Q1 2024, compared to a 0.9% increase in Q4 2023, beating the estimate of 1%. The US Federal Reserve is expected to hold its sixth consecutive meeting on Wednesday and leave rates unchanged. JPMorgan and Goldman Sachs expect the first rate cut in July, while Wells Fargo does not expect a rate cut until September at the earliest. Investors now rate the probability that the Fed will cut rates in September at nearly 44%, up from 60% earlier in the week, according to CME FedWatch Tool data. Market participants will be more focused on Fed Chairman Jerome Powell's press conference. The Fed's hawkish tone could boost the dollar and put pressure on the GBP/USD pair. On the other hand, the dovish stance of the Bank of England (BoE) is putting pressure on the Pound Sterling (GBP). Bank of England Governor Andrew Bailey is confident that UK inflation is falling and expects two or three rate cuts this year. Financial markets priced in the Bank of England's first rate cut in August, expecting 50 basis points (bps). Trading recommendation: Trade mainly with buy orders at the price level of 1.2500. We consider sell orders at the price level of 1.2460.by Fresh-Forexcast20040
GBPUSD SHORTHi folks as per day candle close we are in the strong bearish side I hope Monday and Tuesday set the weekly high so it's time to form the weekly low. Just watch my analysis and performanceShortby Sanjay_chandran2
GBPUSD SHORT PROJECTIONGbpusd short projection with the following confluences Trend: Price currently making lower lows and lower highs (downtrend) Level: break of support level now acting as resistance Fib levels: rejection of price from 50% and 61.8% fib levels Signal: daily bearish engulfing candle on fib levels This is more of a swing position. #lessismoreby oghenechovweojoh117
GBPUSD Idea Sellinv opportunity on GU, we are bearish on this pair and price has pull back to a resistance and area of value Shortby Eminencefx883
GBP/USD sells?My GBP/USD analysis: Monthly chart we are tanking however we are at a bullish orderblock(OB) Weekly look left and there's just a massive drop. Daily candle rejection at supply zone/respected the high. 4h a few changes of character to the downside(CHoCH) Currently in a few USD sells NZD/USD EUR/USD and now GBP/USD but with the upcoming news FOMC and NFP--kinda nervous Shortby Dieumercit113
GBPUSD short, broken structure (2024 pt 2)GBPUSD has failed on its support, bearish possibility!!!! However, being weary as other GBP pairs are bullish! Traded on funded acc too!Longby ajforex0603Updated 0
gbpusd sellThe Pound Sterling reverses its course against the US Dollar, after extending its gains past the 200-day moving average (DMA). However, data from the United States (US), showing that inflation could be picking up, as shown by the Employment Cost Index (ECI), bolstered the Greenback. Therefore, the GBP/USD trades at 1.2517 down by some 0.36%, after hitting a daily high of 1.2563. The Relative Strength Index (RSI) indicator on the 4-hour chart declined below 60 after coming within a touching distance of 70 on Tuesday, pointing to a loss of bullish momentum. Additionally, GBP/USD turned south after reaching the 200-day Simple Moving Average (SMA) at 1.2560, reaffirming the strength of this resistance.Shortby Mark804Updated 3
GBPUSD SELL NOW!!!!!!!!!!!!!!GBPUSD took out the sell side liquidity price have already made a retest am expecting a steady bearish dropping from GU till we grab liquidity below 1.23200 JOIN AND ENJOY Tell us what you think..............?Shortby CAPTAINFX23
GU - Bearish OutlookGU is trending bearish. Price is currently at key resistance level along with Trend Line. Price projection as per ABCD Pattern.Shortby DowOracleFxUpdated 1118
#GBPUSD Buy TP 400+ pipsHello Traders, BUY GBPUSD at 1.2392 with SL 1.238 and TP1 1.271 and TP2 1.28. Becare and don't tuch trade, Becouse of FOMC Meeting and interest rate news. Longby STORMSolutionsFX2
GBPUSD: Expanding Profit Opportunities Amidst Bullish Momentum!Greetings Traders, In recent times, I've observed a consistent bullish momentum driving GBPUSD towards the H4 Premium buy stops and, ultimately, the Weekly bearish order block. As we commence this week, the confluence for these bullish objectives remains intact. Presently, GBPUSD is experiencing a temporary bullish institutional order flow, reinforcing our anticipation of reaching these key points. My strategy involves monitoring the H1 bullish order block for a confirmation entry to align with this bullish trajectory. The order block remains valid even if wicks go through it. Continuing Last Weeks Analysis:https://www.tradingview.com/chart/GBPUSD/0IELwZl7-GBPUSD-Unlocking-Profit-Potential-with-Bullish-Momentum/ Best Regards, The_Architect Longby The_Archi-tectUpdated 6610
GBPUSD ( are bears home yet)price has recently tapped 1.25679 level with immediate shorts. We have a trendline break and a higher high break @1.25150 . If price does close below this level ( especially the Daily candle ) I will be looking for a lower high formation to short it futherShortby BM_ForexTrader0
Gbpusd Confirm Chart GBP/USD is extending losses toward 1.2500 in European trading on Tuesday. A cautious risk tone and a decent US Dollar comeback weigh negatively on the pair. The focus now shifts to mid-tier US data amid a data-light UK docket. by Forex_Master-Updated 15
GBPUSD Short confirmationAs per my system, i received some confirmation that makes me confident about a short entry here on GBPUSD. This setup is high risk, and personally i incresed the RR reducing the stoploss, but i shared this ideas with lower RR to avoid spikes. Good luckShortby CryptoForexGem3
GBPUSD - sellhe can se change oh character so we sell with tarhet at low of main structureShortby KronFX3
GBP/USD showing bullish FlagGBP/USD showing bullish Flag, there is no divergence in RSI indicatorLongby aalihassan0
longGuys any buy after this consolidation will be very good because news is there secondly volume for the buyers are very good so breach of consolidation will be trend for the buyers. Happy trading by aslamfahad020111
An unimaginable short from the depths of analysisHello Traders ;] As I examined the GBP/USD pair, it appears we're in a prime position for a short trading strategy. The pair has retraced into the 0.79-0.61 zone, a classic area that often signifies a natural correction within a trend. Such retracements can offer strategic entry points for traders looking to capitalize on potential reversals. Furthermore, a glance at the volume profile over the entirety of the visible price movement indicates that we've reached the Value Area High (VAH). This point in the volume profile is particularly telling; it's where the majority of trading activity has taken place, acting as a barrier of sorts—a 'strong wall'—which the price may struggle to break through. Consequently, this serves as a strong indication that the pair may recoil from this level. In setting up this trade, placing a stop loss just above the VAH would be a prudent measure, limiting exposure should the market move contrary to our expectations. For the profit target, we look to the opposite end of the volume profile, the bottom. This analysis not only aligns with the technical indicators, but also with the principle of selling into strength within a downtrend—a strategy often favored by seasoned traders looking to join the broader market momentum. Good luck strugglers!Shortby VezzerisUpdated 4
GBPUSD buy nowdouble EMA indicators & stochastic confirmed entry GBP/USD buy now @ 1.25562 tp - 1.25665 sl - 1.25261 good luck :) Longby leahbmwUpdated 111
short for GBPUSDThe content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.Shortby iminigham11Updated 8