FXBen
Long

GBP/USD LONG SETUP

FX:GBPUSD   British Pound/U.S. Dollar
CABLE HAS BEEN BULLISH FOR A LITTLE WHILE NOW. THE RECENT PULLBACK BRINGS PRICE BACK TO RETEST SUPPORT AND A THIRD TRENDLINE BOUNCE. WE ALSO HAVE A FIB PLAY HERE AT A 50% RETRACEMENT.

TO TRIGGER THE LONGS WE WANT A BREAK OF THE CTL AND WE WILL THEN BE TARGETTING BACK AT THE HIGHS BEFORE SEARCHING FOR A HIGHER HIGH AT KEY RESISTANCE, CONFLUENT WITH FIB EXTENSIONS.

TARGET 1 = 1.5920
TARGET 2 = 1.6140
pezq PRO
a year ago
I think we are looking at 1.5420 for a market reversal. I do agree that we are looking at much higher prices soon....
Reply
FXBen PRO pezq
a year ago
WHY 1.5420?
Reply
pezq PRO FXBen
a year ago
I am in Nice on a little beach trip at the moment and am just going out for a Japanese meal but will send my full explanation to you on my return. Regards
Reply
pezq PRO FXBen
a year ago
Here is my picture as promised. I never use indicators and only work on price action and Fibonacci levels. The price action for Cable has not reversed yet as you can see. It was a great meal by the way and the temperature here is 36 degrees C. Where are you based?
snapshot
Reply
pezq PRO
a year ago
What do you reckon?
Reply
FXBen PRO pezq
a year ago
well after todays movement i am thinking short. i never got in the long as i would have wanted a CTL break to confirm the bounce which obviously didn't happen. i will stay out for now and wait to see what happens after tomorrows fed minutes. i made 150 pips from a gold short which i posted analysis on here for a few days ago. closed a touch above target as i was happy to bank some pips before tomorrows fed news. i am based in london, you?
Reply
pezq PRO FXBen
a year ago
Near Brighton. I am long from 1.5420 at the moment but had shorted down to that level so quite happy with that for this week! Regards and good to meet you.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out