GBPUSD is lining up with a very good long on both 1h and 4h chart. We have our trendchannel with 2 test of low and 2 test of high, with a possible bounce for 3rd test of low, plus a 78,6% fib retracement in almost perfect allignment. I've decided to go with a wide SL below the prev swing low, but this is ALOT of room to work with, and you could easily narrow it...
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GBP/USD Hourly 1.4076 Overview : Market managed to fell to test support 1.3845 as we see over the chart, while managed from there to rebound toward target zone 1.3960-1.4000 as we advised before on Tuesday. Britain published construction sector PMI: 54,2 that is lower then the forecasted 55,5. The pound did not receive support from the black gold market...
SUMMARY: The primary trend of GBP/USD is bearish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining above 50 day SMA and taking resistance of 200 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 1.4405 and support at the level of 1.4175. If it breaks...
in my technical view GBPUSD going to UP, because GBPUSD have 2 Supports. also have Gartley pattren.. with Bullish Channel
The British Pound retains a strong upward tone after of the BOE's economic policy statement, trading a handful of pips above the fresh 4-week high posted last Wednesday, and pressuring the 50% retracement of the latest daily decline between 1.5239 and 1.4078. Carney says the Bank of England expects real incomes in the UK to grow solidly this year, after several...
Hello Traders! Binary EWA/EWP! Anyway, short! Target - 1.39400 Sincerely yours, Powerful Traders.
Hello Traders! Sell Limit - 1.44049, S/L - 1.46000, T/P - 1.44000 Best regards, Powerful Traders!
I have highlighted daily support areas which are confluent with Fibonacci levels. I lean towards the Bearish side, however I would not discount the Bullish targets on screen, especially with announcements from the US today. The bullish or bearish move will depend largely on price action and candlestick confirmation for me. Another reason for leaning to the...
Retracement, probably looking for structure around 1.56139, it is expected the completion of the pattern at point D. Enter Short at D. Targets around 61.8% the first one; Around 127.2% the second.
PRZ is around 1.5636 which is a 0.886 retracement of XA and 1.5595 which a 1.618 projection of BC. SL is placed slightly above X which makes this one of my favourite pattern because of the risk/reward ratio.
Here we got a potential Cypher pattern to enter the new bullish sentiment on the 4hr timeframe on a retrace to the 0.786 fib. We are looking for the RSI to reach over sold zone as well for confluence. But be careful its NFP tomorrow so watch your trade carefully if you get an entry before the news! Comments good or bad are very welcome. Kind regards Thomas Voss
LOTS OF UNCERTAINTY WITH GBP BECAUSE OF THE ELECTION WHICH IS CAUSING THE POUND TO DEPRECIATE. PRICE BROKE OUT OF THE RANGE LAST WEEK AND IT IS NOW LOOKING TO RETEST THE RANGE LEVEL (SUPPORT TURNED RESISTANCE). THIS IS A TEXTBOOK TREND CONTINUATION PATTERN (BREAK,RETEST,CONTINUATION) IF PRICE MANHES TO RETRACE BACK UP TO MY SELL ZONE I ALSO HAVE 2 FIB CONFLUENCES...
This pair was moving to the UP side very nicely but as we can see the prices recently are not touches its upper trend line so it is indicating that pair is losing its bullish strength ...
After today's session, GBPUSD advanced rapidly and it is only few pips away from the open. This indicated plenty buying in the market. I would expect this pair to advance further and form consolidation pattern. Long term downtrend must be assumed and short positions would be recommended from higher levels.
In my trading course (which I would highly recommend) we were talking about advanced patterns today, so I went out on the chart and tried to find and recognize some. My first butterfly patterns I discovered on the GBPUSD hourly and 4 hr chart. I drew it in on the 4h chart because it's just less messy. What we have here is a butterfly pattern where the 1.272 fib...
Bullish BAT got completed @ 1.698. Pullback north is likely, stops below 1.695