Daily.Pips
Long

GBPUSD Story and a nice Trade Setup developing

FX:GBPUSD   British Pound/U.S. Dollar
Looking for a longer term trade here with an entry at about 1.5105 with SL under the may low of 1.509 with a first target at about 1.53.

Price action is losing steam approaching the beginning of May low with positive divergence as seen on daily and especially 4h charts:

snapshot

snapshot

Watching for the awaited break out of the bearish channel on 4h with a strong bull confirmation when breaking 1.52 level.

Will try to keep updating the setup on shorter timeframes for hunting entry points and further developments.

Happy trading everyone!

Channel rejected again, waiting to hit the target now
snapshot
Reply
Went short , looking for the awaited correction here
snapshot

the entry was at under 1.537 after the bearish bat got completed with nice bearish divs as well as in the 4h chart above:
snapshot
Reply
opened first shorts at the first fibo extension and 0.618 retrace of previous downtrend
snapshot
Reply
GBPUSD under next resistance in the short's area :

snapshot
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder 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 Account and Billing Sign Out