Get started

Gbpusdforecast

GBPUSD: Everything is gradually revealed before the new news!It is important to note that Fed Chair Jerome Powell recently stated that the economy still requires a slowdown and weakening labor market in order for inflation to confidently reach the 2% target. Additionally, the latest macroeconomic data from the United States indicates a remarkably resilient economy, leaving room for one more 25 basis points rate hike by the Federal Reserve in either September or November. This further supports the high yields seen in US Treasury bonds and reinforces the strength of the US dollar. Furthermore, a generally negative risk sentiment, as evidenced by a decline in US equity futures, further enhances the safe-haven status of the US dollar. However, at least for now, any downside pressure on GBP/USD is mitigated as markets have already factored in two additional interest rate hikes by Bank of England before year-end due to persistent price pressures. As such, all eyes will be on Thursday's crucial BoE monetary policy meeting as it remains an area of focus.
Long
by Sphyn-Trader
3
GU: Remains under pressure around the 1.28 mark ahead of FOMCThe GBPUSD pair is facing downward pressure and struggling to make gains during the Asian trading session on Tuesday. Currently, the major pair is trading around the 1.2840 level, showing a 0.1% increase for the day. Market sentiment is cautious as we approach the Federal Open Market Committee's (FOMC) meeting scheduled for Wednesday. In July, US business activity experienced a slowdown, reaching a five-month low. The S&P Global Composite PMI dropped from 53.2 to 52. The US S&P Global Manufacturing PMI rose from 46.3 to 49, surpassing market expectations. However, the Services PMI decreased from 54.4 to 52.4, falling short of the anticipated 54. Additionally, the Composite PMI index fell to 52 from 53.2 in June.
Long
by Sphyn-Trader
3
7 Dimension Analysis For GBPUSD😇7 Dimension Analysis Analysis Time Frame: Daily 1: Price Structure: The current price structure is bullish, with an initial behavior of a Bullish Order Block (BoS). The move is considered corrective, and the inducement has already taken place and is now considered valid and high. There have been 2 pullbacks, and the extreme order block remains unmitigated. The daily time frame shows a confluence area of demand. 2: Patterns: 🟢TREND LINES: Trend lines are acting as support. 🟢CHART PATTERNS: A CIP (Change in Polarity) pattern is observed, with this supply area acting as CIP. A V-shape swing during the corrective move indicates a rapid impulsive recovery once the low is validated. 🟢CANDLE PATTERNS: Shrinking candles, with the 3rd candle losing size compared to the previous ones. A doji classic pattern, with the last candle closing as a doji. A record session count of 6 consecutive bearish candles, but the low is not yet confirmed. 3: Volume: Average volume observed. 4: Momentum RSI: 🟢The RSI is in a bullish zone. 🟢Currently in a bullish range shift. 5: Volatility Bollinger Bands: 🟢Middle band support and resistance levels are holding. 6: Strength ADX: Bulls are slightly stronger than bears, with a kiss and cross pattern at the moment. 7: Sentiment ROC: The rate of change is neutral, at 50/50. ✔️ Entry Time Frame: H1 ✅ Entry TF Structure: Bearish ☑️ Entry Move: Impulsive ✔ Support Resistance Base: H1 Order Block rejection. ➕ FIB: Activated ↕️ Trend Line Breakout: Confirmed. ☑️ Final Comments: Sell for a corrective move. 💡 Decision: Sell 🚀 Entry: 1.2853 ✋ Stop Loss: 1.2875 🎯 Take Profit: 1.2705 😊 Risk to Reward Ratio: 1:7 🕛 Expected Duration: 2 days Summary: The price structure is bullish, but currently in a corrective move. The trend lines are acting as support, and a CIP pattern is observed. Bulls are slightly stronger than bears, and the RSI is in a bullish zone. Selling is suggested for a corrective move, with an entry at 1.2853, stop loss at 1.2875, and take profit at 1.2705, providing a risk to reward ratio of 1:7.
Short
by Optimum369
GBPUSD Critical Pointthe pair is in a rising wedge and can make a good decision about the side to move as we could see in past the price was showing some divergence with MACD (linked) and being in a rising wedge could be a good sign to short it but from the other side we can see that it has broken the resistance and it is currently retesting it from the above so if it stands as a support we can be longing it too. better to have an eye on DXY as well (Linked) we believe it is better to wait and see which side it is finalizing and then surf it to the defined TP.
by BitonGroup
8
GBPUSD: CPI today with profit?After a volatile day of trading on Monday, GBP/USD is struggling to break free from the 1.3100 level on Tuesday as investors are cautious about making big moves before important economic data is released. Although GBP/USD experienced minor losses on Monday, the improved risk sentiment in the US session helped to minimize the losses. In the morning, the UK's FTSE 100 Index rose by 0.3%, while US stock indexes remained relatively stable, which enabled GBP/USD to maintain its position.
Short
by Sphyn-Trader
11
Crunch Time: Will Sellers Break the Barrier? GBPUSD in Focus Traders are heavily bullish on the British pound, with net long positions exceeding a whopping $4.7 billion as of July 11, the highest level since mid-2014. Traders are ramping up their expectations for the Bank of England to implement additional interest rate hikes while increasingly under the impression that U.S. rates are on the verge of reaching their peak. Notably, the US Federal Reserve has entered a "blackout period" ahead of their July 26 meeting. As a result, this sentiment could put downward pressure on the U.S. dollar. Meanwhile, the UK's inflation figures are a major risk event to watch for this week. Although there is an expectation for a drop in the inflation rate (from 8.7% to 8.2%), it is anticipated to remain four times higher than the Bank of England's official target. UK inflation data is due at 2 am (NY time) on Wednesday. On the chart, the GBPUSD continues to explore lower levels following a test of a high target near 1.31465 on the daily chart last Friday. The market saw a modest corrective downward move last Friday, and again the first trading day of this week. This allowed the 20-day moving average to catch up with the price action. The big question now is whether sellers can push prices below the psychologically important level of 1.3000 ahead of the release of UK inflation data. The presence of buying pressure adds uncertainty to the situation.
by BlackBull_Markets