GBPUSD - 24h expiry
The medium term bias remains bearish.
Trading within a Bearish Channel formation.
The sequence for trading is lower lows and highs.
Risk/Reward would be poor to call a sell from current levels.
Bespoke resistance is located at 1.2615.
We look to Sell at 1.2615 (stop at 1.2655)
Our profit targets will be 1.2515 and 1.2480
Resistance:...
After forming a bear-flag pattern and short fall, GBPUSD is now aiming at correcting yesterday’s fall following the CPI news.
It has broken a new resistance and we expect price to move up to the 1.26400+
Hello Traders, here is the full analysis.
The completed correction, recovery and formation, continuation of growth. GOOD LUCK! Great BUY opportunity GBPUSD
I still did my best and this is the most likely count for me at the moment.
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Traders, if you liked this idea or if you have your own opinion about...
Dear Traders,
I'm closely monitoring the GBPUSD pair in today's trading session, and I wanted to share some insights with you.
GBPUSD is currently in a downtrend, indicating a general downward movement in prices. However, it's important to note that within this trend, the pair is experiencing a correction phase. This correction phase seems to be leading GBPUSD...
Preferred direction: Neutral
Comment: The British currency perfectly worked out the scenario that we set at the beginning of the week, and all long trades were closed. At the moment, short-term strengthening is expected for the instrument, including, most likely, during the US CPI . However, just like the euro , a fall is expected here in the longer term....
GBPUSD had a false breakout, increasing probabilities of a breakdown.
1.25 is the critical level to hold. Daily close below 1.25 will increase likelihood of the pair touching 1.23
After price made strong impulse move to the downside, a sell opportunity could be seen around the $1.25423 level. We’ve opened our first sell position and await price to push to the downside.
Technically, we can also see a double top formation at the price of $1.2550 level. A retrace at the area of 1.25423.
okay loss 1R, no problem! The price break and retest key level are very nice, following Down's Theory! Good job!
Get back what was lost or lose everything you have...
Events to watch out for today:
15:30 EET. USD - Number of initial applications for unemployment benefits / Producer price index
19:30 EET. GBP - Bank of England MPC member Megan Green will deliver a speech
20:30 EET. USD - FOMC member Rafael Bostic will give a speech
GBPUSD:
GBP/USD remains under selling pressure near 1.2540 after rebounding from the 2024...
This is a quick overview of the currency pairs.
We had a busy day of important Economic News and reports yesterday, so we should anticipate a reaction to that news.
Hello traders, with CPI data coming out in less than 4 hours, let us take a look at the
4H chart of GBP/USD.
The situation on the 4H chart is definitely bullish as price has bounced off the 1.2540
support level and currently it is consolidating above the 100 period moving average.
However, spikes or dips during CPI can not be ruled out.
So, is there is a dip...
GBPUSD can have a big retracement to 0.5 Fibonacci level from where we can short it. At the level there was previously a lot of volume and anchored VWAP also gives us another confluence. Following the bearish trend we could expect major downward momentum from this level.
GBPUSD trying to recover from yesterday’s fall, but it is now forming a bear-flag pattern. Is this a signal for continuation of downward movement?
Let’s wait and see. No action for now
Based on the H1 chart analysis, we can see that the price is rising toward our sell entry at 1.2613, which is a pullback resistance that aligns with the 50% Fibo retracement.
Our take profit will be at 1.2562, a swing-low support level.
The stop loss will be placed at 1.2671, a pullback resistance level
High Risk Investment Warning
Trading Forex/CFDs on...
If one would have checked the recent flightlogs of the GBP performance he might have been astounded what he would discover:
GBP emerges from the first trading week of the year as the strongest currency and the signs look great for a further rally of the pound:
🟢GBP Positive:🟢
- 🟢 The PMIs in the UK have recently surprised on the upside and so there is light...
