GBPUSD Too Many Reasons To Go Long

FX:GBPUSD   British Pound / U.S. Dollar
943 7 23
Price is moving down and will soon reach a key level where we have too many reasons to believe that it will bounce from that level.

1. Lower parallel of a rising channel
2. 0.618 fib level of previous impulsive wave up
3. Pevious structure level (look left)
4. Potential ABC corrective pattern
5. MACD Divergence

Although we have too may factors to buy the market at that level, for a much safer trade we should wait for a buy setup to form at that level.
I too believe a long is coming. But in my friendly opinion, you cannot call bull divergence here (yet) , because that current move down could go further down, and so could that low in the macd. It may not be finished yet.
Agree. 1.43 will be good demand area.
Nice chart.. We should still wait for a buy setup to form in that zone..
Saravan Fxprotrader
Absolutely. I will be watching price actions before set my buy order.
That's great..
Nice idea and view . Very good
Fxprotrader SmilingSword
Thank you..
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out