GBP/USD Daily Chart Reviews

GBP/USD as we can see on SAR indicator, the trend is pointing for bullish trend, it’s likely that we will see that continue, so going for long trades is not a bad option at all, but just need to make sure to get the timing correct.

GU this week has been very serious trend with the pair starting up on bearish zone, but packed a solid punch to taking it over 1.2539 level, but may come back inside 1.25 mark, so it could be good chance to enter into short trade.

I thought the price would be more dynamic, but now it moves very inertly. I expected more.


GU has been pushing in mid-levels between 1.23 to 1.22 levels, it’s unlikely that we will see it go away from here, but if anything it looks set for bearish trend to flourish, but with already so far down, it is better to wait for some top up.

A loss of nearly 170 pips marked this pair for the week which saw high volatile news & events. Further price movements would come from what happens on the economic, political and war front which might or might not adversely affect the USD! So traders would be on edge watching for every move on the news which might have bigger impact. Traders would also not take any big risk too in such charged conditions!

This GBP/USD Chart lets you see the pair’s latest currency rate.


GU was on high this week with the pair closing out on touching distance 1.30 level first time since Brexit fiasco, it will be interesting how it acts up as we move forward, but there is a lot of positive activities happening around for which we need to be very careful.

The GBP/USD has been very volatile, but with no clear direction. On the daily chart we can see that the last few daily candles are in the shape of Dojis of Spinning Tops, which is an indication of indecision. From the 1.2900 area, the pair may head in any direction.

GBP/USD is heading clear downside; it’s highly likely that we will see the pair close out this week in same fashion. It might even challenge 1.25 levels pretty soon. It will be interesting where things go next, but we need to make sure we work it out properly before entering.

GBPUSD : Buy & Sell Patterns

GBPUSD Bullish Scenario: A bullish pattern can be seen for another possible move higher but has yet to trigger buys at the BC 0.50% Fib. level. If looking to buy GBPUSD traders should be patient and wait for price to make a move lower towards the BC 0.50% Fib. retracement level at 1.2808. Waiting for price to hit the BC 0.50% Fib. retracement will offer a better risk/reward trade setup. Blue bullish pattern is invalidated if price moves below point B low of the pattern.

Bullish Pattern

GBPUSD 4 Hour Bullish Pattern

GBPUSD Bearish Scenario: A bearish pattern can be seen for another possible move lower but has yet to trigger sells. If looking to sell GBPUSD traders should be patient and wait for price to make a move higher and hit the red entry trend line and possibly terminate point 5 with a reversal lower. If price hits the red trend line traders should also be watching possible candlestick trend reversal signals (Harami, Dark Cloud, Bearish Engulfing, Shooting Star, etc.) for more confirmation.

Bearish Pattern

GBPUSD Daily Chart Bearish Pattern

GBPUSD Weekly Chart Bearish Patterns: In 2015 and 2016 this bearish pattern formed and both times has reversed and hit targets. Only time will tell if 2017 bearish pattern will trigger and reverse lower to hit target.

Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade.

The price range was quite extended with the low of week being 1.2811 and the high being 1.3115. Clearly GBP seems to be taking full advantage of USD weakness and trying to make way for higher highs. But how far the price might go from here remains to be seen as there is still high uncertainty in UK especially with respect to Brexit which should keep the GBP bulls quite guarded!

GBP/USD is posting an aggressive sell-off day following the BoE’s interest rate decision of holding its interest rate at 0.25%. The previous days the pair had a sharp buying interest but lost some of the gains in a few hours.

Does it match with your analysis???

1 Like

Hey there,
Been on this forum for almost one year and this is my first post. I’ve found this baby and started to trade it since 6/11. Made some nice pips, and lost a considerable amount out of my greed. This rising channel has 2 resistances in the middle. The one on the bottom is the strong and important one and the one close to the top side is the weak one. I value it only as resistance and not support since the price doesn’t pay any attention to it when it’s going down. Not only the price respects the channel lines but also the RSI and Stochastic does too in their own trend lines. At 12:00 I shorted and placed a TP 1,31485 and a SL 1,32049. What I’m looking for here is your future projection. Cuz these channels… You know… always break at one point or another. Any ideas when and which direction it would be.

GBP/USD is moving within a consolidation area with upper band the 1.3320 resistance level and lower band the 1.3040 support level. More upside movement is expected until 1.3615 or a rebound on the upper boundary could slip the price towards 1.3040.

Gbpusd on H1 we can seen already figure out bullish candle, two candle confirmed on uptrend, possible target is on 1.3505 which this area will become strong resistance, if reading news today there are several news high impact for usd, fomc press conference and also unemlpoyment change will giving high impact usually

I thought it was Donald Trumps meeting slagging of other countries again.

I think gbp/usd will go short to 1.37383. And then it will go long to 1.39711.

Morgan Stanley’s currency strategists do not have warm feelings for the dollar, but the British pound likes them even less — the Bank forecasts its decline to 1.32 by the end of the second quarter, while adhering to the forecast for the third and fourth quarters at 1.38.

However, Morgan Stanley do not advise to rush with selling of the British pound right now. The Bank draws attention to the fact that Telegraph, citing sources close to the negotiations, reports that British negotiators are close to agree with representatives of the EU about transition period, while they surprised the latter with their desire to essentially prolong the membership of the UK in the single market and the customs union for another two years starting in March 29, 2019.

“When GBPUSD gets closer to 1.44/1.45, we once again can be sellers of the pound,” noted strategists of Morgan Stanley.