GBPUSD_116 2024.11.01 03:14:05 Trading Signal SELL

1 nov.

FrankPro Signal for GBPUSD_116

Type: Screen
Signal: SELL
TP: 1.28125
SL: 1.29029
Entry Price: 1.28916

Analysis for GBPUSD

Forecast Overall(Short-Term, Long-Term): ST=Strong Down LT=Probably Up

Forecast Methods(Short-Term, Long-Term):
[Method0] ST=Down LT=Down
[Method1] ST=Down LT=Up
[Method2] ST=Down LT=Up


Analysis Method(0)

Based on the provided analysis, here is my assessment of the expected price movement for the GBP/USD pair:

**Short-term (next few days):**

* The price is expected to go down. The bearish setup targets the level of 1.2900, and the failure to sustain above 1.3000 has led to a rebound downwards, indicating ongoing downward pressure.
* The immediate outlook is cautious due to the ongoing bearish correction, and the pair may attempt to test the support area near 1.2975 before potentially continuing its decline.

**Long-term (next few weeks/months):**

* The overall trend is bearish, and the pair is expected to maintain its downtrend. The technical analysis highlights the importance of watching key levels, and any significant movements will be influenced by upcoming economic data releases.
* However, if the pair can break out above 1.2990, it could potentially lead to a bullish reversal. Nevertheless, this is not the primary expectation based on the current analysis.

In summary, the GBP/USD pair is expected to decline in the short-term, with a potential target of 1.2900. In the long-term, the pair is expected to maintain its downtrend, but a bullish breakout above 1.2990 could potentially lead to a reversal.

Result: [Method0] ST=Down LT=Down


Analysis Method(1)

Based on the provided analysis, here are my expectations for the GBP/USD exchange rate:

**Short-term (next few days):**
The price is expected to go down. The current bearish setup targets 1.2900, and the recent decline in the pound due to the UK's new budget announcement supports this expectation. Additionally, the technical analysis suggests that the GBP/USD will test the support area near 1.2975, which could lead to further downward movement.

**Long-term (next few weeks/months):**
The price is expected to stay the same or potentially go up. Although the current trend is bearish in the short term, the technical analysis mentions a possibility of continued growth after the support test at 1.2975. Furthermore, the GBP/USD rate had previously re-tested the 1.30 level, indicating that there is still some upward momentum in the market. However, this expectation is less clear-cut than the short-term expectation, and the price movement will likely depend on future market data releases, such as the PCE index.

Result: [Method1] ST=Down LT=Up


Analysis Method(2)

Based on the provided analysis, here is my assessment of the expected price movement for the GBP/USD pair:

**Short-term (next few days):**

* The price is currently attempting to break through the lower boundary of an ascending price channel, which suggests a potential short-term downtrend.
* The bearish setup targeting 1.2900 and the expected trading range of 1.2914-1.3050 also indicate a possible short-term decline.
* However, the higher linear regression channel indicating an upward tilt suggests that the downtrend might be limited.

**Expected short-term price movement:** Down (targeting 1.2900)

**Long-term (next few weeks/months):**

* The ascending price channel and the higher linear regression channel indicating an upward tilt suggest a potential long-term uptrend.
* The bullish breakout anticipated at 1.2990 also supports a long-term bullish outlook.
* However, the UK budget and tax hike announcement may continue to influence the pair's direction, potentially leading to further volatility.

**Expected long-term price movement:** Up (with potential for further volatility)

Please note that these assessments are based on the provided analysis and are subject to change as new market data and events become available.

Result: [Method2] ST=Down LT=Up