GBPUSD Trading

[Ammeo 10]

Gap was closed and now there is no reason for price to proceed higher unless we are initiating a new bull run.

[Ammeo 10]

That high 6333 might get big move here

[lord_of_trading 10]

GBPUSD has been a stubborn old man recently, giving traders no reason to want to participate in its action. The price has been hella volatile and I'm sure amateur traders are pulling their hair out trying to guess the next move. I believe, and believe me, the 1.60 level might be hit just to destroy the longs, confuse the shorts, and pick up pending orders. If not, the move higher is set.

[Ammeo 10]

Technically we are approaching another level of technical support at the 1.5850/1.5900 area and we are still close enough to the 1.6000 level (50% retracement of the 1.4815/1.7190 bull run from 7/2013 to 7/2014). So while more downside is definitely possible, I see no more than approximately 100 points form current levels and a bounce from here is also not to be excluded.

[lord_of_trading 10]

GBPUSD is a prime candidate to start building long positions in. On a 240min chart we can clearly see the pair respecting 1.61585 and our RSI is moving our of oversold territory to give traders a chance to join the big boys for the long ride home back to the highs we associate with this pair.

From an entry at or around 1.61585 I set my profit target my profit target at 1.64000 and after that, the sky is the limit.

 

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[Mysticforex 13]

In UK the much cooler than expected inflation data sent the pound reeling with the unit plunging below the key 1.6000 support level in morning London dealing. UK CPI printed at 1.2% versus 1.4% eyed, pushed lower by food and transportation costs. This was the twelfth straight month that food prices have declined helping to put downward pressure on the overall index.

[Ammeo 10]

Short GBP/USD at 1.6103

[Ammeo 10]

Going move my SL to BE, if price reaches my first TP 1.5990

[Mysticforex 13]

Dovish Bank of England minutes, a surprise decline in retail sales and a larger than anticipated drop in industrial orders should have taken GBP/USD below 1.60 and while the currency pair made a brief foray below this level today to 1.5995, it rebounded to end the day above this key level. Given the softness of retail sales and the deterioration in trade activity, Friday’s third quarter GDP numbers are not expected to be kind to sterling. Nonetheless the currency pair’s resilience should not be underestimated because 1.60 could still hold (after a brief break) if growth falls short of expectations. Not only is the GDP report backwards looking but economists expect a slowdown in growth so a softer number would not be a major shock. At the same time, with 2 members voting in favor of an earlier rate rise, the Bank of England will still be one of the first countries to raise interest rates. I also believe that sterling is receiving some support from euro outflows ahead of the Eurozone’s bank stress test results, which are scheduled for release on Sunday.

[shuvo7748 10]

Hello,

 

Today GBPUSD Current level at this moment - 1.6026

[Ammeo 10]

added 5912. looking for 5860

[Ammeo 10]

Pound looks in a slightly better shape than eur/usd, but the end of the story should be the same. It has to go down and reach lower lows in the same fashion as eur/usd.

[Ammeo 10]

The upside prevails.The pair stands above its support and remains on the upside with targets 1.5280 and 1.5320 in extension.

[Ammeo 10]

Bearish to continue...

1.4900 final target..

[Ammeo 10]

Won't be at all surprised to see it pop up another 100 pips or so and take out last weeks high and a bunch of stops.

[stefcio2002 10]

Won't be at all surprised to see it pop up another 100 pips or so and take out last weeks high and a bunch of stops.

 

So do I.On H4 it looks like a clear trend reversal. I wold prefer to go long on that one.

[prax 10]

So do I.On H4 it looks like a clear trend reversal. I wold prefer to go long on that one.

 

I'll wait little longer until it's clear breaks around 1.54390. considering as major trend, it's could be simply a correction movement, based on their weekly wave.

[stefcio2002 10]

I'll wait little longer until it's clear breaks around 1.54390. considering as major trend, it's could be simply a correction movement, based on their weekly wave.

 

I ma not sure. On the daily I see we are approaching a resistance zone, so I think we may consolidate at that level. I will rather try to take profits, and may be to sell around1,56, aiming to get back to the fib broken resistance at 1,544.

[stefcio2002 10]

I ma not sure. On the daily I see we are approaching a resistance zone, so I think we may consolidate at that level. I will rather try to take profits, and may be to sell around1,56, aiming to get back to the fib broken resistance at 1,544.

 

Well We did not even meet 1,56 before it reversed so I did not have the occasion to sell: the pair did not pass the daily SMA100. On H4 please take note that we are still technically in an uptrend, as long as we do not break the 1,535 last low's line.

 

Still the fib line named 23,6 is a strong weekly support/resistance zone. I would look for signals (short or long) there. A bearish break out oof 1,535 would make me bearish on h4.

[Ammeo 10]

Pending buy E/G at .7250 ready to be hit. Target .7315 for next week, SL at .7240

[stefcio2002 10]

GU is close to the 1,5325 weekly fib level support, and gave a H1 long signal. Jumping into it (only demo on Asian session)

[Ammeo 10]

Needs to break 5050 to get a run to 5030 5000 .

[stefcio2002 10]

2015 03 08 Powerful bearish action. We broke a weekly fib support, I will use it as resistance. I am looking to sell rallies.

[Ammeo 10]

Long @ 4920 SL 4880 TP 1.5000

[lukepearson 10]

GBP/USD: Will remain guided by EUR/GBP moves

 

Woodcock notes that GBP/USD remains in its range, and the rally in the past two trading days was as a result of moves in EUR/GBP after having traded heavy over the last week. GBP/USD is going nowhere and lacks any momentum, the pair remains well contained, according to Woodcock. He further says that the pair will remain reactive to EUR/GBP moves than any UK events.

 

See more at: EUR/GBP guiding the Sterling, USD/JPY remains a buy on dips | TipTV.co.uk