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U.S. Dollar / Pound Sterling

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GBPUSD Wave Analysis 14 November 2024 - GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level 1.2840 GBPUSD currency pair recently reversed up from the strong support level 1.2665 (former monthly low from August), standing close to the lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from April. The upward reversal from the support level 1.2665 created the daily Japanese candlesticks reversal pattern Hammer Doji. Given the strength of the support level 1.2665 and the oversold daily Stochastic, GBPUSD currency pair can be expected to rise to the next resistance level 1.2840, former support from the end of October.
Long
by FxProGlobal
GBP/USD Ready for a Bounce? Buy Opportunity at 1.2700The GBP/USD pair is currently in a corrective movement with signs indicating a potential short-term bullish reversal, as evidenced by the formation of a Bullish Gartley pattern near the 1.2700 support. This key support level is likely to attract buyers, given the confluence of technical factors suggesting a possible recovery from this point. Technical Indicators TDI Divergence: Shows bullish divergence, suggesting that the selling momentum may be waning, reinforcing the potential for a rebound from current levels. Key Levels: Main Support: 1.2700, where the Bullish Gartley pattern is validated, aligning with a demand zone. Resistance: 1.3000 and 1.3048 are significant resistance levels that could serve as targets if the recovery unfolds. Buy at Support Entry: 1.2700 Stop Loss (SL): 1.2600 Take Profit (TP): 1.3010 Risk-Reward Ratio: 3:1 Rationale: The Bullish Gartley formation and bullish divergence signal that this support offers a strategic entry point for a long position. This strategy leverages the expected rebound from support, with relatively controlled risk and a high potential reward. The GBP/USD pair is at a critical level with technical signals supporting the 1.2700 support and a harmonic pattern favoring a recovery. The primary strategy here is a buy at support, aiming for high returns. Selling at resistance upon rejection can also be considered, though it carries a higher risk. Monitoring price action and indicators near these levels, particularly on lower timeframes, will be essential for position adjustments.
Long
by MrVNpt
2
**Pound Slips Toward 1.2700 on Weak Fundamentals**GBP/USD Under Mounting Pressure: Reversal Patterns, Dollar Strength, and the Trump Effect The GBP/USD pair is showing clear signs of reversal, struggling to sustain momentum near recent resistance levels and failing to breach the liquidity zone, signaling a strong bearish outlook. The fundamental backdrop for the pound has shifted into negative territory, creating ideal conditions for a continued downtrend in this currency pair. Across financial markets, the U.S. dollar is surging, boosted by an array of macroeconomic and political forces. Market participants have taken note of the renewed strength of the dollar, especially amid growing confidence in a Trump electoral victory. Trump’s policies have consistently favored a strong dollar through economic and fiscal strategies, reinforcing demand for the currency. As a result, investors are starting to price in the likelihood of a reinforced dollar, with potential ripples across various asset classes, especially forex. Turning specifically to GBP/USD, there are several critical technical levels in play that could guide the pair’s trajectory in the near to medium term. In recent analyses, attention has been focused on key points at 1.2813 and 1.3050. These levels represent crucial thresholds: any sustained retest of support after a pullback to resistance could signal an increased probability of a breakdown. A successful retest of support, should it occur, could pave the way for further declines, with the technical and fundamental contexts aligning toward a bearish outlook. The current economic environment, therefore, remains unfavorable for the pound, particularly given that the dollar’s strength is being reinforced by shifting geopolitical and economic conditions. As the fundamental scenario develops, the path of least resistance for GBP/USD appears to be downward, with sentiment increasingly favoring a lower trajectory for the currency pair. Key Levels to Watch: Resistance Levels: 1.2940, 1.3000, and 1.3044 Support Levels: 1.2813, 1.2672, and 1.2500 A close look at the technical setup reveals that GBP/USD has re-entered a range bound by these resistance and support levels. At present, both the technical and fundamental backdrops are aligned for a continued move to the downside. The 1.2813 support level, in particular, represents a critical juncture. If the pair dips below this level, the likelihood of a deeper breakdown grows significantly, potentially opening the path toward the next support at 1.2672 and, in more pronounced bearish scenarios, toward 1.2500. Investors should be prepared for some pullbacks along the way, as volatility may trigger minor upward corrections. However, any such movements are likely to be short-lived unless there is a meaningful shift in the fundamental landscape. The role of news and upcoming economic data releases cannot be overstated in this dynamic environment. Market participants should stay attuned to potential changes in both economic indicators and policy announcements. Ongoing developments surrounding U.S. fiscal and monetary policy, particularly in light of Trump’s political momentum, will play a crucial role in defining the strength and stability of the dollar and, by extension, the weakness of GBP/USD. In summary, with both technical indicators and fundamental factors favoring the dollar, the GBP/USD pair seems poised for further losses. Careful monitoring of key support levels and geopolitical news will be essential as we await potential new lows in this currency pair.
Short
by lonelyPlayer0
Buy OpportunityGBP/USD Long-Term Trade Signal Trade Type: Long (Buy) Entry Price: 1.2630 Target Price (Take Profit): 1.3099 Stop Loss: 1.2538 Projected Move: +3.64% Gain Timeframe: ~40 Days Summary: Potential Rebound: The price is expected to rebound from current support levels, targeting 1.3099. Momentum Shift: Squeeze Momentum Indicator shows a potential shift from bearish to bullish over the coming weeks. Disclaimer: This is based on technical analysis. Please trade with caution and assess your risk tolerance.
Long
by GODOCM
1
GBPUSD Weekly Chart Analysis for Position Traders💥 GBPUSD is flashing strong SELL signals! 💥 📊 This week, the pair has shown clear signs of weakness, with momentum favoring the downside. Any sharp pullbacks could offer prime SELL opportunities. The market is positioning itself for what could be a significant move lower, so stay alert for the next bearish wave! 🔻 🚨 Trendline Traders, Beware! 🚨 If you're only relying on trendlines for your GBPUSD trades, it might be time for a reality check! 📉⚠️ This week’s price action is showing clear signs of weakness, and sticking to trendlines could leave you on the wrong side of the market. 💥 The market is poised to break lower, so stay flexible and don’t get caught in outdated setups! 🚀 📊 Adapt or miss out! 📉 🚀 Position traders – gear up for the downside! Keep your eyes on GBPUSD, and don’t miss out! 📉👉💥 Happy trading!
Short
by Mike_SnD
1
GBP/USD Weakens Around 1.2665 as USD Gains MomentumAs I write, the GBP/USD pair continues to decline, currently hovering near the 1.2665 mark. The recent rally in the US Dollar has driven it to its highest level since November 2023, exerting pressure on the currency pair. Later today, Bank of England (BoE) Governor Andrew Bailey is scheduled to address the market, which could influence further movements. Recent data from the US Department of Labor Statistics indicated that the Consumer Price Index (CPI) rose by 2.6% year-on-year in October, aligning with market expectations. Additionally, the core CPI, which excludes volatile food and energy prices, increased by 3.3% year-on-year, also meeting forecasts. These figures have led analysts to believe that the Federal Reserve is likely to maintain its course for potential rate reductions at their upcoming December meeting. However, concerns are growing over former President Trump’s proposals to impose higher tariffs on imports, which could stoke inflation. This scenario might compel the Federal Reserve to reconsider its monetary easing strategy. Given the recent CPI data, it appears the US is making only moderate progress in controlling inflation, suggesting fewer interest rate cuts might be on the table for next year. Such dynamics are reinforcing elevated US Treasury yields, further bolstering the value of the USD across the board. From a technical standpoint, there are two key demand zones to monitor. Recent activity suggests that institutional investors are positioning for long opportunities, and seasonal trends appear to support this outlook. Patience will be crucial as traders await a consistent rebound in either of these two demand areas before considering long positions. For now, the USD is likely to maintain its strength against the GBP and other currencies. ✅ Please share your thoughts about GBP/USD in the comments section below and HIT LIKE if you appreciate my analysis. Don't forget to FOLLOW ME; you will help us a lot with this small contribution.
by FOREXN1
3