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GBPUSD

Fundamental Market Analysis for May 8, 2025 GBPUSDEvents to pay attention today: 15:30 EET. USD - Number of Initial Jobless Claims 14:00 EET. USD - Bank of England Key Interest Rate Decision GBPUSD: GBP/USD was down six-tenths of a per cent on Wednesday as markets continued to hold on to the safe-haven US dollar. The Federal Reserve (Fed) left rates unchanged as markets had expected, but Fed policymakers, still adopting a wait-and-see stance, curbed risk appetite during the midweek market session. The Bank of England (BoE) will hold its own rate meeting on Thursday and is expected to cut rates by another quarter point. Forex Today: All eyes on the Bank of England Market sentiment declined after Fed Chairman Jerome Powell's press conference. He said that US trade tariffs could hamper the Fed's inflation and employment targets this year. Powell warned that continued policy instability could force the Fed to take a ‘wait-and-see’ approach to interest rates. While the Trump administration's tariffs have weighed heavily on consumer and business sentiment, the lack of significant negative economic data makes it difficult for the Fed to justify an immediate change in interest rates. Powell: The right thing to do is to wait for further clarity The Bank of England is expected to cut the rate by a further quarter point at its upcoming meeting on Thursday, marking the fourth rate cut since it peaked in 2023. The Bank of England's Monetary Policy Committee (MPC) is expected to vote nine to one in favour of another rate cut in an attempt to support the faltering UK economy. Trading recommendation: SELL 1.3330, SL 1.3350, TP 1.3230
Short
by Fresh-Forexcast2004
Bullish bounce off pullback support?The Cable (GBP/USD) is falling towards the pivot which is a pullback support and could bounce to the 1st resistance which is an overlap resistance. Pivot: 1.3264 1st Support: 1.3233 1st Resistance: 1.3338 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
GBPUSD SHORT FORECAST Q2 W19 D7 Y25GBPUSD SHORT FORECAST Q2 W19 D7 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. Let’s see what price action is telling us today! 💡Here are some trade confluences📝 ✅Weekly order block rejection ✅Daily order block rejection ✅Intraday 15' order blocks ✅Tokyo ranges to be filled 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Short
by JCFRGNT
2
GBPUSD SHORT FORECAST Q2 W19 D6 Y25GBPUSD SHORT FORECAST Q2 W19 D6 Y25 Professional Risk Managers👋 Welcome back to another FRGNT chart update📈 Diving into some Forex setups using predominantly higher time frame order blocks alongside confirmation breaks of structure. Let’s see what price action is telling us today! 💡Here are some trade confluences📝 ✅Weekly order block rejection ✅Daily order block rejection ✅Intraday 15' order blocks ✅Tokyo ranges to be filled 🔑 Remember, to participate in trading comes always with a degree of risk, therefore as professional risk managers it remains vital that we stick to our risk management plan as well as our trading strategies. 📈The rest, we leave to the balance of probabilities. 💡Fail to plan. Plan to fail. 🏆It has always been that simple. ❤️Good luck with your trading journey, I shall see you at the very top. 🎯Trade consistent, FRGNT X
Short
by JCFRGNT
1
Bullish bounce?GBP/USD is reacting of the support level which is a pullback support that aligns with the 50% Fibonacci retracement and could rise from this level to our take profit. Entry: 1.3336 Why we like it: There is a pullback support level that line sup with the 50% Fibonacci retracement. Stop loss: 1.3299 Why we like it: There is a pullback support level that is slightly above the 78.6% Fibonacci retracement. Take profit: 1.3402 Why we like it: There is a pullback resistance level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
Will GBP/USD head lower from THIS major resistance zone?Sterling finds itself walking a financial tightrope this week. The GBP/USD is delicately poised between transatlantic central bank decisions and murky trade headlines. As the Federal Reserve holds court across the pond and the Bank of England gets ready to show its hand, traders are bracing for a possible divergence in tone—and in policy. The dollar has taken a softer step into the week, retreating after two weeks of modest gains. But don't be fooled: that weakness could easily reverse if the Trump administration’s trade negotiations result in new agreements. Officials suggest deals with partners beyond China might be inked by week's end. Until then, the markets remain unimpressed. Friday’s US nonfarm payrolls came and went with little fanfare, and Monday’s ISM services PMI barely registered. So far, the macroeconomic data has taken a backseat to geopolitical posturing. Trade Truce Could Revive the Dollar’s Fortunes The dollar index has wobbled a little after a brief two-week recovery, helped by an unwind of previous “Sell America” trade. But the big question remains: will Washington and Beijing finally bury the hatchet? Equity markets are behaving as if they expect some form of resolution—however vague—but the greenback hasn't followed suit. Fed independence is also under the microscope, with President Trump’s persistent rate-cut rhetoric raising eyebrows. The political fog isn't helping matters. Yet, a trade breakthrough—particularly with China—could lend support to the dollar, shifting sentiment swiftly. Sterling's Fate Hinges on Central Bank Theatre Two heavyweight monetary policy announcements are set to dominate fate for the GBP/USD currency pair over the next 24 hours or so. • FOMC Rate Decision – Wednesday, 7 May, 19:00 BST No surprises expected here. The Fed is widely tipped to hold rates steady at 4.25–4.50%. The real drama lies in the messaging. With political noise in the background, Powell may aim to exude calm and control. Markets will scour the statement for hints of June’s outlook. • Bank of England Rate Decision – Thursday, 8 May, 12:00 BST Here’s where the action really lies for sterling. A 25bp cut is largely priced in, and a dovish 9-0 vote wouldn’t shock anyone. But traders will pay close attention to the inflation outlook—especially with energy prices softening. A slightly more optimistic growth revision could temper the dovishness. Any hint of hawkish resistance may offer the pound a temporary reprieve, perhaps even lifting GBP/USD to flirt with 1.3500. Technical Outlook: Cable Bumps Up Against Familiar Ceiling Technically speaking, GBP/USD is looking a bit overextended, though bears haven’t been vindicated just yet. Last week’s weekly chart printed an inverted hammer—a warning shot, perhaps, but without any firm follow-through so far. The pair recently tested September’s high at 1.3434 before retreating. But more formidable resistance lurks between 1.35 and 1.40—a zone that’s proved impenetrable since the Brexit saga began. So, the path upward may be limited from here on. On the downside, keep an eye on 1.3250 for initial support, followed by the psychological barrier at 1.3000. Final Word It’s shaping up to be a pivotal week for cable. Trade chatter has failed to energise the dollar, while sterling stands on the edge, waiting for the Bank of England’s cue. With Powell and Bailey both stepping into the spotlight, and global trade deals waiting in the wings, this week could deliver the jolt that the GBP/USD has been waiting for. For now, a cautious stance on sterling feels justified—but everything’s in play, and sentiment may turn quickly. By Fawad Razaqzada, market analyst with FOREX.com
by FOREXcom
Morning Star To Wake GU TradersFX:GBPUSD has fallen into a Wedge Pattern after breaking Mondays Highs! Price this morning has seemingly found Support at the 50% Retracement level signaling the potential ending of the Consolidation phase of the Wedge! This Retracement comes in the form of a Morning Star, a strong Triple Candle Reversal Pattern! If Price is supported in this area, we could see a Bullish Break to this Pattern delivering a Long Opportunities as a Break and Retest Set-up!
Long
by Novi_Fibonacci
1
GBPUSD INTRADAY consolidation range supported at 1.3210GBP/USD maintains a bullish bias, with the broader trend and structure supporting upside continuation. The recent intraday move appears to be an overbought corrective pullback toward a key prior consolidation area. Key Support: 1.3210 – aligns with the previous consolidation zone and potential bullish inflection point. Upside Targets: 1.3435 – initial resistance level 1.3500 and 1.3580 – medium to long-term bullish targets If price finds support at 1.3210 and forms a bullish reversal, it would confirm the continuation of the uptrend toward the mentioned resistance levels. However, a break and daily close below 1.3210 would invalidate the bullish scenario, suggesting deeper retracement toward 1.3120, with further support at 1.3015 and 1.2980. Conclusion GBP/USD remains bullish above 1.3210. Look for a bounce from this level to confirm upside continuation. A daily close below 1.3210 would turn the outlook bearish, exposing lower support levels. This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
by TradeNation
Cable H1 | Falling toward an overlap supportCable (GBP/USD) is falling towards an overlap support and could potentially bounce off this level to climb higher. Buy entry is at 1.3338 which is an overlap support that aligns close to the 50.0% Fibonacci retracement. Stop loss is at 1.3300 which is a level that lies underneath a swing-low support and the 61.8% Fibonacci retracement. Take profit is at 1.3378 which is a swing-high resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (tradu.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (tradu.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Global LLC (tradu.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to Tradu (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of Tradu and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of Tradu or any form of personal or investment advice. Tradu neither endorses nor guarantees offerings of third-party speakers, nor is Tradu responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by Tradu
GBP/USD: Is the Bullish Impulse Over?The daily chart shows a significant bullish impulse that encountered strong resistance in the 1.3350 - 1.3400 area, where multiple supply levels and an important institutional selling zone are located. The bearish structure remains intact below this level, suggesting a potential decline towards the key support at 1.3100 - 1.3150. The short bias strengthens with the confirmation of resistance and the formation of a potential reversal. COT Report (USD Index and GBP/USD) USD Index: Non-commercial traders are slightly increasing long positions (+397) while reducing short positions (-128). This suggests a potential recovery of dollar strength, supporting a bearish move on GBP/USD. GBP/USD: Non-commercials have significantly increased short positions (+6,426) and reduced long positions (-2,957), indicating a bearish sentiment. Commercials also show a slight increase in short positions (+5,070), confirming potential weakness in the pound. Retail Sentiment 57% of retail traders are short on GBP/USD, with an average price of 1.2916, while 43% are long at 1.3343. This imbalance could indicate a market attempt to capture stops above recent highs before a reversal. Seasonality Historically, the month of May shows a negative performance for GBP/USD. The 5, 10, and 15-year seasonal data indicate a consistent decline during this period, supporting the hypothesis of bearish pressure.
Short
by EdgeTradingJourney
1