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Thread: GBP/USD

     
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    2021-07-29   09:53
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    Yesterdays macroeconomic calendar included the meeting of the US Federal Reserve.

    Attachment 397410
    The regulator kept interest rates unchanged at 0.25% on an annualized basis as expected.
    Against this background, the price declined but then resumed its upward movement. The pound/dollar pair reached the resistance level of the downtrend. In case of a rebound and a false breakout, the quotes are likely to continue their bearish run. If the price breaks through and consolidates above this resistance level, the pair is expected to go up towards new highs.
    The situation with the pound sterling is rather uncertain. I opened a small short position, hoping that the price will complete its technical correction. Unfortunately, there are no signals yet. Losses are limited by the 1.4000 level. I think my trading idea is absolutely clear. The estimated target of the pairs possible collapse is the level of 1.34452.

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    2021-08-02   08:02
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    Hi, everyone!

    The price is moving in an upward trend based on the 4-hour trading chart and the Fibonacci grid. Now, I hope that the price will pull back to 1.3880 from 1.3980. This scenario is in my wave theory and the theory of pullbacks. If things go well, bulls will soon reach the previous top again. Its the 100% Fibonacci level, and then continue driving the price up towards the new targets up to the 161.8% Fibo levels, that is, the 1.4230 mark.

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    2021-07-30   09:12
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    Hi, everyone!
    Currently, the macroeconomic calendar includes data on Germany's GDP. The countrys output is expected to increase significantly to 2.0% from -1.8%. Besides, the Euro area consumer price index will be released. I expect the indicator to rise to 2.0% from 1.9%.

    Attachment 397703
    According to the H4 chart, I can tell by following a rebound from local lows, the price has advanced and recouped almost all of its early losses.
    Currently, the pound/dollar pair is moving at 1.3947. Now there is a high probability that the quotes will continue their bearish run to reach the target level of 1.3920 and then to the support line, along which the price is currently trading. Moreover, the price may fall to the level of 1.3900.
    Attachment 397705
    According to the M30 chart, the price is trading in a strong upward trend. I expect the price to slide to the inclined level up to 1.3920.
    After that, the price is likely to break through the trend line or rebound from it and then gain strong upside momentum. In any case, it still makes sense to open short positions, hoping that the price will decline to the level of 1.3920 or even to the 1.3900 mark.
    The pound/dollar pair may well go up, but its bullish movement is unlikely to happen due to the significant price level of 1.4000. In some cases, many buyers are expecting to start locking in profits, while many sellers will most likely start opening short positions. Thus, I expect the quotes to drop to at least the level of 1.3920 or even 1.3900.
    Attachment 397706
    According to the open position ratio, the majority of traders are sellers. Despite the fact that the crowd is selling, major players will most likely continue driving the pair up.
    Open position ratio:
    Although the crowd is selling, major players will most likely continue driving the pair up. And this time, such a scenario may repeat.
    Have a profitable trading day!

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    2021-08-02   13:47
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    Hi mates.
    The GBP/USD is no doubt the most volatile currency pair of all the major currency pairs. This volatility comes from the relatively unstable nature of the Pound. Pound crosses also experience very high volatility and can move hundreds of pips in a day. Focusing on the technical aspect of the GBP/USD currency pair, we can notice how it has rejected a strong resistance area on the charts. Here is a more detailed analysis below:
    4-hour Timeframe:
    Attachment 398675
    The GBP/USD price has been making higher lows on the 4-hour chart. These higher lows have formed a rising trendline which is acting as a support line on the hourly timeframe. The price just made a slight bounce off this trendline around the 1.3900 price level and it is moving upward for now.
    However, this upward movement is a correction move that I don't expect to last for long. Short-term traders can buy into this correction movement and ride the bullish pullback with the expectation of the price retesting the previous highs around the 1.4000 price level. This level is a strong resistance level on multiple time frames.
    There is still a probability of a retest and this Is why the arrow on the 4-hour chart is pointing upwards.
    Daily Timeframe:
    Attachment 398676
    Observing the broader picture, we can see that this pair has made a double top pattern when it bounced away from the resistance level around 1.4000. This chart pattern suggests that there will be more bearish movement in this pair.
    Therefore, if the price breaks the rising trendline on the 4-hour chart and goes below the 1.3900 price level again, more bears will enter into this pair and push the price lower to aim for the next daily support level which is around the 1.3670 - 1.3725 price zones.
    Long-term traders should focus on selling this pair after every bullish pullback.

    The attachment
    2021-07-29   18:32
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    Technical Analysis Of H4 Time Frame

    I am looking at the H4 time chart for analysis of the pair. In the short term, the GBP / USD pair has risen significantly. It is trading at the level of 1.3974 with positive momentum after the downfall of USDX. From a technical point of view. Although the pound-dollar pair is slightly lower than the expectation, as it will open up new buying opportunities after the breakout of the 1.4002 level, After the meeting of FOMC, the USD index has faced a slight decline from the sellers.
    Besides this, the GBPUSD continues to increase towards a positive direction with demanding strength. Yesterday the FED decided not to change its monetary policy, which impact we have seen in the rise of GBPUSD. The Growth of the price is valid to sustain above the price level of 1.3960. The price needs to break the support region of 1.3832 for a consistent downfall of the pair. Although from the support region of 1.3800, the price could rebound after a retest of further positive direction.
    Attachment 397556
    Technical Analysis Of H1 Time Frame

    For the short-term intraday trade, I am looking at the hourly time chart of the GBPUSD pair. The formation of price on the chart gained positive momentum from the level of 1.3568. It succeeded in moving above the by taking support from the Ichimoku Cloud indicator for consistent progressing into upwards direction. The pair rise due to the absence of active sellers in the area of 1.3978 and holding above the 50.% Fibonacci retracement level. The opportunity seller rises if the price did not sustain above 50.0% Fibonacci level and collapse due to lack of buyers interest. The sellers will actively, and the price will test the support first consolidation support area at 1.3848 then towards the 1.3732.
    Attachment 397557

    The attachment
    2021-07-28   14:12
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    Hi mates.
    The GBP/USD pair is bullish this trading week. The Pound bulls have come out strongly in the market this week and they are pushing the price of the pound higher against other currencies. The week has been interesting. Today is going to be even more interesting because there is going to be high liquidity. The high liquidity will be from the important economic releases of the FED.
    I will be focusing on the technical aspect of this pair in this post.
    1-hour Timeframe:
    Attachment 397139
    The GBP/USD is trading inside a sideways range on the hourly time frame. The pair is testing the top of the range. There is a possibility of a bounce downwards. The top of this range is the 1.3900 price level. This level has held as a strong resistance level in the past.
    This currency pair is either going to break this resistance level and trade higher or, it is going to make a bearish bounce away from this level to remain within the sideways range.
    It is important for traders not to assume the direction of the price. They should only follow the price after its direction is revealed. This simply means that traders should wait for a breakout or a bounce before buying, or selling respectively.
    A bearish rejection of this resistance level will cause the pair to drop to the bottom of the range around the 1.3740 price level. The top to bottom of the range is about 260 pips.
    Daily Timeframe:
    Attachment 397140
    The daily time frame of the GBP/USD is showing signs of a strong bullish rally to the 1.4230 daily resistance level.
    This rally is expected due to the strong bullish bounce from the daily support around the 1.3600 zones.
    Long-term traders can buy this pair from the current market price and target 360 pips of profit.

    The attachment
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    The pound/dollar pair may show some desire to develop a decent-sized movement in the coming days. However, I very much doubt that traders are able to ignore the fact that they will receive a really important direction for a strong trend only on Friday. And before that, perhaps some unexpected events can be observed, but it is far from reality. But in general, I am waiting for a turbulence within the current limits.

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    Greetings to all GBP/USD currency pair.


    On the chart D-1 it seems that it has completed the fourth wave, and now I am counting on a corrective pullback towards 1.3800-1.3760, and after testing the support line I believe that the price will be able to continue rising towards 1.41 and above, I also assume that on Thursday it is approaching 1.3780 and the price may complete completely.
    Name: Screenshot_26.png Views: 18 Size: 197.8 KB

    On the H-4 chart, you can see that the formation of bulls, as the indicator shows, has already started, and the price is in the first stage of growth, while the price is in the resistance zone, so the price is likely to continue falling towards the expected support 1.3800-1.3760 and from there it continues to rise Towards 1.4100-1.4130 and maybe 1.42.
    Name: Screenshot_27.png Views: 17 Size: 218.5 KB

    On the H-1 chart, the indicator shows that the price may have already completed the formation of the bearish scenario, here while the price is in the area of ​​the previously broken upper boundary of the descending channel with T-F D-1, the price is still under pressure, which forms a triangle, as a result, it turns out that the price It came out in the northern direction, like a descending triangle, but taking into account a very large resistance, I now assume that the price will not be allowed to rise and most likely will not be able to break through the current resistance with TF D-1, as well as continue the correction to the expected 1.3800 area, where I already think I will continue to grow.
    Name: Screenshot_28.png Views: 18 Size: 226.1 KB

    On the M-15 chart, here while the indicator is showing that the price is most likely preparing to exit in the northern direction, so there may be a possibility of forming a double top on H-4 after I assume that the price will continue to move to the 1.38 area expected.
    Name: Screenshot_29.png Views: 17 Size: 156.6 KB

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    GBP/USD Analysis from the perspective of MA Techniques:

    On Tuesday morning, I will introduce the analysis of the GBP/USD pair, involving the use of 50-MA and 200-MA lines. That is an explanation of the technical analysis.

    H4 Price Chart Analysis:

    In the H4 time frame chart, we see three lines intersecting at one point, namely the 50-MA line, the 200-MA line, and the BB H4 low line. It is a rare opportunity for all trend lines to gather at 1 point, so the price may rebound upwards because there are three gathering points. The alias price will try to stay away from the line, which means that the price will reject it, and even if it touches it, there will be a tail candle that pushes the price higher. However, even if the price rises, it cannot break through yesterday's highest price, and then the price will fall even deeper. Next, we look at the trend of H1 time.

    Name: PicsArt_08-03-11.19.41.jpg Views: 16 Size: 333.1 KB

    H1 Price Chart Analysis:

    If it is in the H1 time frame, we see that the price reduced by 50-MA and mid-term BB H1. However, even if the price continues to move below the midline of H1 BB and also trying to rise but failing to break through the midline of H1 BB, the price will fall further. At present, the 200-MA line is still the main target of this downturn, but the price will first try to correct upward and sell before entering. With the conclusion, we can sell when the price is trying to rise and reject it by placing TP on the 200-MA line, in the middle BB or TOP BB H1.

    Name: PicsArt_08-03-11.21.43.jpg Views: 17 Size: 365.3 KB

    Thank you.


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    GBPUSD Fundamental Analysis


    At the beginning of the week, the pound rose against the dollar, hitting an intraday high of 1.3932 in early European trading. This caused the exchange rate to reverse part of its decline since the peak of more than a month last Friday, and was affected by multiple factors. The continued decline in the infection of the delta strain in the UK and the positive progress in Brexit have kept the pound sterling well supported. There were 24,470 new cases in the UK last Sunday, a drop from 26,144 on Saturday.
    The recent decline in U.S. bond yields has strengthened market expectations. In fact, the benchmark 10-year U.S. Treasury yield is struggling near the multi month low hit in July, keeping the dollar bulls on the defensive. In addition, the overall positiveness of the stock market is another factor that weakens the relative safe-haven status of the US dollar. However, the exchange rate rise is still limited, and investors seem to be inclined to wait and see before the key events/event risks of this week.

    GBPUSD Technical Analysis


    The pound fell at the beginning of the week, and the pound/dollar fell to a three day low of 1.3875. In July, the British Market manufacturing PMI rose to 60.4, in line with expectations, and the pound/dollar hit a high of 1.3932. GBP/USD is trading below 1.3900, and there is a further downside risk.

    Name: IMG-20210803-WA0002.jpg Views: 14 Size: 42.6 KB


    The 4-hour chart shows that the exchange rate has not broken through the flat 20 SMA, and currently constitutes resistance near 1.3920. Large level moving averages have lost their directional momentum and are below the current price, while technical indicators are flat below their midline. If the exchange rate falls below the support 1.3865, the probability of a continued decline will increase.
    Support level: 1.3865 1.3820 1.3770
    Resistance level: 1.3920 1.3975 1.4020

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    The euro-dollar pair is currently exhibiting a downward impulse with a potential target at the support at 1.3840. A breakout of this level will strengthen the bearish trend up to the level of 1.3750 and maybe even lower, where purchases can be considered. At the moment, the upward scenario looks less likely to be observed. The signal for the upward movement is a breakout of the 1.3930 mark. In case this happens, the price may rise further to 1.4000.

    Name: 12 (46).png Views: 13 Size: 49.7 KB

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    GBPUSD Hourly, 4-Hours, 1-Hour and Weekly Analysis

    I am taking a look at the GBPUSD H4 time chart. The pair price looks to retrieve its uptrend for a while and continue its downtrend movement for correction and may continue until Wednesday. This outlook is that the meeting results of the Bank of England would summarize on Wednesday, which is very important for the British economy and all eyes on the statement of BOE leaders. Under this scenario, the continuation of the price correction from the corrective level will continue at the level of 1.3835.

    The pair price movement looks less active and risky so far by the lack of interest of the traders. That's why the market is constructing a flat price pattern on the H4 time chart. At the momentum, all focus on price settlement below the corrective level, and the output scenario would be If the price moved below 1.3853.

    The other correction level would be 1.3835 and 1.3800 intraday decline, or if the price breakouts the 1.3900, resistance barrier then the price would test 1.4000, and 1.4055 would be an ultimate goal from the buyers.

    For the short-term trade, I am looking at the hourly chart for observing further price moments. The current outlook of the price is similarly flat as in the H4 time chart. The current direction of the price is sideways. The price is moving below the Ichimoku cloud indicator, which suggests that the downtrend influences the market.

    Since the market opening this week, the price is tested once 50.0% FIBO level at 1.3916 and then moved down and moving in the consolidation zone. The price moving along with EMA-100 moving average, although from the current price pattern predict that price could test the SMA-200 at 61.8% at 1.3825 and 1.3800 corrective levels and then rebound for further price movement upwards direction. The continuation of the negative trend becomes valid after the breakout of the consolidation zone, and then the price may rise above 1.4010.



    Name: H1.png Views: 12 Size: 48.2 KB Name: h4.png Views: 12 Size: 51.1 KB

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    We have seen a quick drop of GBP/USD price level from 1.3990 to 1.3887 this week. The rising of the USD index slightly over 92.10 happened yesterday, and there was a resistance position at 1.400 which worked properly, and the immediate support area at 1.3867, which needs to break. We can see the next target of GBP/USD price level over 1.3719, which was the lower low of last month. The short-term bullish trending area over 1.3880 level is now following, and it can rise to 1.3940, but everyone is now looking for a massive drop of GBP/USD within this week because NFP might positively affect the USD index. Last month, NFP did not positively impact even the negative hints from the FOMC press conference; as a result, the USD index got a drop from 93.13 to 91.80 level.

    Name: GU.PNG Views: 9 Size: 24.0 KB


    Now look at the technical chart of GBP/USD, which has a bullish channel area from 1.3867-1.3933 for the H4 chart and breaking the previous high of 1.3933 can lead the price over 1.4227 within this week, but more stability of the USD index can pressure below the breakout point. We have seen a huge rise of GBP/USD price level moved over 1.4311, then the drop continues at 1.3571, and if we look at the monthly chart, then we can see a hammer candle formed for the last month, and if we are a position trader, then its a clear long-term buy single formed, and the target will be 1.4280.

    For a short-term trading condition, we can see a short target of over 1.3867 today.


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    GBP/USD FUNDAMENTAL AND TECHNICAL OUTLOOK
    Government statistics show that more than 90% of UK adults have received the first dose of the vaccine. The British pound, one of the most profitable currencies of the past week, is steadily strengthening, thanks partly to the dynamism of the US dollar index. The level of commercial activity in manufacturing has not changed.
    The GBP/USD currency pair rose in the first half of this year. MACD entered the negative zone but saw the first sign of a reversal. Under these market conditions, traders may find long positions after the buyer takes the lead. There is currently no sweet spot to sell a niche. Traders can look for day-to-day sales and stocks at resistance levels and short targets, but they need to understand that this is a trade against the primary trend.
    Breaking the 1.4010 resistance level may increase buying pressure to a 35-month high of 1.4236. The bulls may go further and touch the 1.4340 line in early January 2018.
    Alternative: If the price breaks the support level 1.3715 and stabilizes below it, the scenario should continue.

    TRADING IDEAS
    If we want to enter these currency pairs, we need to wait until Support and resistance levels. We will get buy access at Support and sell access at the Resistance level.
    Support levels: 1.3820, 1.3770, 1.3715, 1.3675, 1.3640, 1.3615, 1.3520
    Resistance levels: 1.3920, 1.3945, 1.4025, 1.4070, 1.4110.

    GBP/USD H1 TIMEFRAME PRICE CHART
    I have applied Simple Moving Average (50) and MACD (12, 26, 9) indicators and draw a trend line in this chart.

    Name: gbpusdh1 today (1).png Views: 3 Size: 315.4 KB

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