GBP/USD Analysis: Pound Recovers After the Bank of England Decision Yesterday, the Bank of England published its interest rate decision. According to ForexFactory, the votes were distributed as follows: → rate hike - 0 votes, cut - 2 votes, unchanged - 7 (0 - 2 - 7); → forecast: 0 - 0 - 9; → previous values: 0 - 1 - 8. For the first time in the current cycle...
Greetings Traders, In today's analysis, we observe a retracement of prices into premium levels. Presently, there is evidence of liquidity engineering through the formation of a retail pattern (resistance zone) within this premium range. This suggests the potential for further movement into premium territory, likely targeting the removal of H1 Premium Buy stops....
GBP/USD edged higher to near 1.2540 during Asian hours on Friday, buoyed by the release of higher-than-expected UK Gross Domestic Product (GDP) data for the first quarter. GDP (QoQ) rose by 0.6%, reversing the previous quarter's decline of 0.3%, surpassing expectations of a 0.4% increase. Additionally, GDP (YoY) increased by 0.2%, rebounding from the previous...
The British pound is drifting on Friday. GBP/USD is up 0.05%, trading at 1.2531 in the European session at the time of writing. The British economy grew by 0.6% q/q in the first quarter, higher than the market estimate of 0.4% and above the Q4 2023 decline of 0.3%. This marks a rebound after a mild recession in the second half of 2023. GDP posted its best...
Sun 12th May 24 Condition Day TF Entry 1Hr Tf Entry 1.25254 Profit level 1.25906 (0.52%) Stop level 1.25115 (0.11%)
Please, check our technical outlook for GBPUSD. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 1.252. The above observations make me that the market will inevitably achieve 1.223 level. P.S We determine oversold/overbought condition with RSI...
**GBPUSD:** This week's forecast is for the price to rise to the top of the channel. Once it reaches the top, there are two possible scenarios, one in which the price can continue to rise to the key level of 1.2671, and the other in which the price reverses the trend at the top of the channel and falls to the key level of 1.2346.
Spotted a break of structure and pricing not breaking the higher lows and turning on the resistance. Quick Sell and also a possible break out to the lows at TP.
Everyone must have seen yesterday’s analysis. Both GBPUSD and EURUSD are in line with my expected decline range of 500-1000. The US dollar also reached a high of 105.5. Oil is back at buying prices. Gold has also come to a profitable price. At present, I simply observed the market. There is currently no better opportunity to earn the difference in gold or oil...
A good news for the GBP but the Volume for the buyers is very low in this case market will go down touch the price for the 1.25156 and then again go up market will try to retest the level and then bulls will take over very good pair to trade but requires time to settle down Guys dont come in trap of fomo wait for the market to give good price
Hello traders! Let's delve into a promising trading setup on the GBP/USD pair. On the daily chart, GBP/USD has formed an ABC bullish pattern, indicating a potential upward movement. The pattern is accompanied by a 50% Fibonacci retracement level, adding to its significance. Entry Level: The long entry level (EL) is identified at 1.2428. The price is currently...
After finding a low at 1.23000 on April 22, the price pushed up to 1.26360 before retracing slightly. We've now returned to the equilibrium of this push. A lot of liquidity has been recovered, and the price seems to be reacting upwards. If the price continues to surge, the next important level to target would be 1.27000. However, it's also possible that we'll...
GBP/USD is currently at a resistance level which is a pullback resistance and could potential drop from this level to our take profit. Entry: 1.2592 Why we like it: There is a pullback resistance level. Stop loss: 1.2633 Why we like it: There is a pullback resistance level which aligns with the 127.2% Fibonacci extension. Take profit: 1.2530 Why we like...
Im looking for this bearish structure. Trade with your own risk.
GBPUSD took out the buyside liquidity and made a retest forming a wyckoff model now price is heading to take out all buyside called purge in the wyckoff model before the price will drop EXPECTATIONS Watch outs for BUYS!!!!!!!!!
FX:GBPUSD , influenced by a positive fundamental backdrop and the dollar's decline since the opening of the session on Monday, is strengthening above previously broken trend resistance. GBPUSD is strengthening, the currency pair is in a bearish trend reversal phase. The market and traders are readjusting after the negative NFP for the dollar released last...
GBPUSD increased yesterday, but has not made any changes in the chart structure. The overview shows that the price is still moving sideways in an overall downward trend. The latest price increase helps GBPUSD H1 establish a new high price peak, continuing the short-term price uptrend. Today you can catch retests to buy in line with the short-term uptrend. The...
Hello traders! I am posting on GU again. This weekend I have extra time on my hand :) I have created this chart to breakdown the movements according to Elliot wave theory on H4. At the end of Wave C there is a possibility of 3 corrective wave down and another 5 wave up to break the major resistance. But for now it is safe to assume a short at that level will be a...