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    Thread: GBP/USD (part 58)

    1. #2011 Collapse Post
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      GBP/USD confirms an intraday bearish break through the daily consolidative trading range.
      The set-up supports prospects for a move to retest weekly lows, around the 1.2335 region.
      Subsequent weakness might now turn the pair vulnerable to break below the 1.2300 mark.
      The GBP/USD pair edged lower through the early North American session and refreshed daily lows, around the 1.2375 region in the last hour.

      The pair came under some fresh selling pressure on the last trading day of the week and extended this week's retracement slide from the 1.2540-50 resistance zone. This comes on the back of a brief consolidation below the 50% Fibonacci level of the 102076-1.2813 positive move and confirms an intraday bearish break.

      Meanwhile, technical indicators on hourly charts have been gaining negative traction and are still far from being in the oversold territory. This coupled with the fact that oscillators on the daily chart have just started drifting into the bearish territory reinforce the negative outlook and point to additional weakness.

      Hence, a subsequent slide back towards retesting weekly lows, around the 1.2335 region, now looks a distinct possibility. The latter coincides with 61.8% Fibo. level, which if broken might turn the pair vulnerable to break below the 1.2300 mark and resume its bearish trend witnessed over the past two weeks or so.

      On the flip side, On the flip side, the 1.2400 round-figure mark now seems to act as immediate resistance. Above the mentioned level, the pair might move back to the overnight swing high, around the 1.2460-65 area. Some follow-through buying might assist the pair to aim to reclaim the key 1.2500 psychological mark.


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      2020-07-09   11:43
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      Trading levels for July 9.
      All recommendations are based on the indicator signals of the pivot point and buy/sell levels. On GBPUSD, I think the price will break through the support level at 1.2610. Otherwise, the pair will rise to the level of 1.2760 and above. If the pair breaks through the support and settles below it, then it will move down to 1.2520 or lower.
      The Pivot point is set at the level of 1.2579. The trading levels for today are marked with the color lines on the chart (blue lines - for buy levels, red lines - for sell levels).
      M15 time frame
      Attachment 226176
      The levels given by this indicator are 90% relevant.

      The attachment
      2020-07-10   11:08
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      The pound sterling is currently declining from its highs updated the day before due to the technical factors, while the overall situation on the market changes slightly. The British currency is supported by the news about noticeable progress in the negotiations on a trade agreement between the UK and the EU.
      Attachment 226766
      In addition, investors took notice of the economic plan presented by British Finance Minister Rishi Sunak on Wednesday. He announced further stimulus measures to revive economic growth.
      Attachment 226767
      The US dollar as a safe haven asset is climbing up amid worries over the latest statistics on the growing number of the new coronavirus cases in the United States.
      The GBP/USD pair is likely to rise. However, the pair slightly dipped to 1.260. The pair is projected to test 1.26593 if the bullish bias is strong. If the pair grows to 1.257, short deals can be opened near the 1.265 level. The next target level is 1.2757. Besides, the daily chart indicates bullish momentum. Therefore, the pair may well rise to the expected level.
      Attachment 226768

      The attachment
      2020-07-15   11:22
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      Outlook for GBP/USD on July 15th
      Hello, dear colleagues!
      Lets take a look at the one-hour chart.
      The pound/dollar pair began the European session with a rise amid positive inflation data. The pair is likely to return to the 26th pattern to test the level of 1.2620. It may even hit a new high as the main target of the downward movement was almost reached. The pair needed to pass just 10 pips to hit the targeted level. Today, during the US trading session, a lot of macroeconomic reports will be published. However, they will hardly affect the pairs movement. Thus, today, it is better to open only buy deals. Nevertheless, it is hard to predict. Todays trading range is from 1.2620 to the 23.6% Fibonacci retracement level of 1.2570.
      Attachment 229813

      The attachment
      2020-07-14   11:25
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      Hello, dear traders. The pound/dollar pair continues dropping. At the moment, it is approaching the area of 1.2480 where it may rebound to start rising towards the level of 1.2800. On the one-hour chart, we can see that the price hit the lower limit of the channel. That is why I suppose that the pair could make a false break and return into the channel. Besides, it may resume the upward movement. In other words, I do not expect a deep decline. The indicator also showed that the price has already finished the main phase of a decline. Bulls may take the initiative and boost the pair. On the 15-minute chart, we can see that the price has already stopped falling. The level of 1.2480 is really strong. Thus, the pair may reverse after reaching this level. However, according to the second possible scenario, the pound/dollar pair may continue the downward movement, if it fails to break the resistance levels of 1.2630 and 1.2680.
      Attachment 229164
      Attachment 229165

      The attachment
      2020-07-09   09:55
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      The level of resistance stays rather strong, and the bulls are unable to break through it. At the moment, the pair is trading sideways in the narrow channel. The level of support remains firm as well, and the price returns to flat every time it tries to break through the support. Overall, on the pound/dollar pair the uptrend prevails. So far, the bearish momentum is not strong enough to reverse the price direction. Therefore, the upward movement is unlikely to stop.
      For more details on the price movements lets have a look on the GBP/USD chart.
      For the price to continue its uptrend, it should break through the resistance at 1.2650. The price should also settle firmly above this level. Then it will serve as a clear signal for further growth. In case the bears are active there, the price may pull back to the level of support at 1.2588. The breakthrough of this level will mean the trend reversal.
      Attachment 226105
      Currently, all the factors are signaling the continuation of the uptrend. So the long deals will be the best option.
      It is better to place positions when the price pulls back. However, after the breakthrough it is much safer to open the deals.
      I wish you great profits and small losses!

      The attachment
      2020-07-15   10:58
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      Yesterday, the GBP/USD pair slightly dipped and broke through the support level at 1.2525.However, it was unable to consolidate below this level, although the trading volumes were very large. Against the background of the subsequent growth, it appears that bulls have entered the market. It is recommended to place the pending order on long deals around1.2525. What is more, the pair is highly likely to rise even higher.
      Attachment 229792
      This is why now long deals look more possible. A small correction to the area of 1.2548 is expected. It will be followed by a rebound and a resumption of growth to the target levels around 1.2627 and 1.2700.

      The attachment
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      Greetings to all traders and speculators who are here in the forum!

      Heres the chart for the British pound/US dollar currency pair:

      On the hourly (H1) time frame, it is better to sell the pound/dollar currency pair at the moment. In this regard, we can consider selling from the levels of 1.2350 and 1.2380, which confirms the moving average that is above the price on the indicated time frame. Moreover, the level of 1.2320 can be considered as a target and the level of 1.2400 as a stop loss. At the same time, the RSI indicator gives an additional signal to sell the instrument. However, if we want to sell confidently, then we can take into account the lower half of the M15 time frame.

      Name: ezgif.com-gif-maker (2).jpg Views: 13 Size: 148.3 KB

      Here, the fifteen-minute (M15) time frame is also for sales, the moving average on the indicated time frame M15 is higher than the price chart. For sales, the resistance level of 1.2360 can be considered. In turn, we can also consider taking profit for sales to the level of 1.2330, and stop loss to the level of 1.2380. In general, selling the instrument is necessary for all of us.

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    6. #2013 Collapse Post
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      A further decline may occur in the GBP/USD pair this week, since no significant news or macroeconomic reports are set to increase the demand for risky assets in the trading charts. The head of the Bank of England may say something good today, but it is unlikely to affect the forex rates as the banks interest rates were left unchanged at its previous levels.

      Nevertheless, a small correction to the resistance level at 1.2440 may be observed, in which if it happens, sell positions should be opened with profit to the support level at 1.2170 or to support already at 1.2080 where the pair will move on the price chart. Sell orders are also recommended in case of a breakout from the support levels 1.2350 and 1.2240.

      But if the quotes immediately return and close below the current support level 1.2350, the decline will continue without a correction, at least until the next support at around 1.2240, which will also give sell positions some profit.

      Name: GBP USD.png Views: 12 Size: 240.1 KB


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      A pleasant day to our fellow traders and speculators who are here in the forum!

      Analysis for the pound/dollar currency pair:

      The price of the GBP/USD currency pair did not manage to break through the level of support and thus, continued to trade in the sideways range. Sellers also keep the upper boundary well and do not allow it to pass, so while we are gaining liquidity, it is believed that we will move further below the trend. In general, the position of the currency pair indicates a trend movement in the downward direction, the strong impulses of bears indicate this and their determination to further decline the price as far as possible in the main direction of the trend.

      The possible options for todays price movement can be determined in a more detailed analysis on the chart below.

      The bears should break through the level of support located at 1.2312 in order for the downward movement of the pair to continue. Or else, well move upwards to test the resistance level in the price area of 1.2372. Here, everything depends on the bulls, if you have enough strength to push it, we can discuss stopping the trend and perhaps, start a reversal in the upward direction. The third option is to continue trading in the range. Moreover, sales which are in the main direction remain to be the priority for today. It is necessary to open deals after a flat breakdown, or if given, then with a pullback.

      Have a profitable day to all

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      Greetings everyone!

      The way I see it, it looks like the pair are tracing the movements of the EUR/USD pair. So far the buyers of this pair already broke through the support level of 1.2328 (Murray 5.8) and have gone through the Tenkan H4 line, which, at the moment, gives us a higher probability of an upward trend. If this carries through, the bulls next target will be at the resistance level of 1.2450 (Murray 5.8) which is strengthened by the Kijun line. Well, lets see what happens. I wish everyone success in trading and good profits ahead!

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      Pivot, Resistance Levels and Support Levels for GBP / USD For Stop Loss and Trading Targets
      Calculation For Trading:
      Resistance Level (R1): 1.236
      Resistance Level (R2): 1.235
      Resistance Level (R3): 1.235

      Pivot Point: 1.234

      Support Level (S1): 1.234
      Support Level (S2): 1.233
      Support Level (S3): 1.232
      Attached Images  


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      The GBPUSD currency pair is showing a negative trend and is trading at 1.2319. Technical indicators on the 4-hour chart indicate a possible decline: the Metro indicator lines are below the white line, the direction line is colored red, the laguerre is falling below 0.15 and quotes are trading below the daily pivot level. Resistance Levels: 1.2377, 1.2427. Support Levels: 1.2327, 1.2277. I consider short positions below the level of 1.2327 with the target of 1.2277. An alternative scenario is relevant above the resistance level of 1.2377.
      Name: GBPUSD29062020.png Views: 8 Size: 177.6 KB


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      Welcome to the forum fellow traders and speculators!

      Lets discuss the current situation of the pound/dollar currency pair:

      To say that the pound surprised us with yesterday's collapse is not to say anything. Generally, the quotes of the pair are expected to continue to decline inside the descending channel. Everything is logical, but after a significant strengthening, against the background of insufficient news, such a sharp decline looks strange. There was no terrible news from the UK, everything seems calm, the economy is recovering, and there is nothing new to talk about regarding new statements about Brexit.

      Yesterday, Powell made a statement; however, the dollar did not react well to his speech. He said that the prospects for the US economy are immensely vague and blamed everything on the pandemic and even linked the recovery forecasts to the pandemic. Now, let's see if this speech will be taken into account during todays European session.

      The technical situation remains bearish, the quotes on the hourly chart (H1) broke away from the resistance level of 1.2319, the indicator gave a signal to sell, against which we can expect a weakening of the quotes to work out the local minimum of the level of 1.2250.

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      Based on the current picture on the daily chart, a slight correction of prices should occur after the quotes undergo a good downward movement. A strong bearish mood will form afterwards, which will bring the GBP/USD pair to the resistance level 1.2350 or even a little higher somewhere up the level of 1.2380, from which sell positions should be opened for a profit to the support level at 1.2170 or to the level 1.080. Sell orders may also be placed after a breakout from the support level 1.2240.

      Its still too early to buy positions in the pair, as the short scenario will only be canceled if the quotes breakout above the resistance level at 1.2440. After which, buy positions may be opened especially with a profit to the resistance level at 1.2630. Buy orders may also be placed when the quotes breakout from the resistance already at 1.2525 to get more profit.

      Name: GBP USD.png Views: 4 Size: 242.0 KB


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      A pleasant day to all the visitors of this thread!

      Analysis for the British pound/US dollar currency pair:

      Sellers attempt to break through the level of support did not end well. Therefore, we are trading in the side range in the meantime. The level of resistance, in turn, is well maintained and when the price tried to break through this, it went back to the flat. Generally, we can consider that the trend movement is downwards, since sellers are very good at pushing the price down and the buyers can't do anything about it yet, since they do not show proper activity and there have not been any serious deals from its counterpart yet.

      The technical side of the price movement of the GBP/USD pair can be considered on the chart below.

      The bears' position is obvious, this is an active price decline and to continue towards the downside, it will be necessary to break through the level of support at 1.2252 with a consolidation below it. The option in which this level will be actively protected will lead to a rebound and an increase in the price to the resistance level located in the price area of 1.2312. Here, if there is already enough pressure, they will push it to the top and begin to turn towards the upside. On the contrary, we will rebound and stay trading in the side range for a while. Sales, which is in the main trend, remain to be a priority. Deals should be opened after breaking through the level of support or from the upper boundary of the flat.

      Have a profitable day to all of you

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