FullTimeTrader
Short

GBPUSD-broke and close under 1.5000-price action analisis

FX:GBPUSD   British Pound/U.S. Dollar
618 9 7
Hello, we see the price close clearly under 1.5000
Now is rejecting from this level. MACD shows also no divergence.
I agree we have strong supports levels on W1 and M1             , but the targets shown on this chart are reachably.
Best regards.
MuathAlBulbul
2 years ago
I desperately need a profitable trade, I've been running into a bad 10 wrong trades rally. Do you really believe in this one?
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FullTimeTrader MuathAlBulbul
2 years ago
Please be calm, I believe on this trade, but im not free of mistakes. This is just and idea, not a recommendation to buy or sell. You must always do your own analisis before entering a trade. If you want take a look on my other ideas and choose another idea.
Best regards.
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MuathAlBulbul FullTimeTrader
2 years ago
I am a bit new at this, so I am trying to learn from others. The thing is views on the same pair can differ VASTLY! I am not an expert trader that's why I run into problems deciding which is the best route.
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FullTimeTrader MuathAlBulbul
2 years ago
I understand you, if you are new i reccomend to trade only on demo account until you have minimum three months of consistent profits. You must also learn and choose one trader system and test it to do your own analisis. Its a long way to be a trader.....Take a look at his post:
Trading? Here are 10 Things You Should Consider
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riskmode TOP MuathAlBulbul
2 years ago
This one is dodgy because the eurusd looks like it wants to go up. Usually gbpusd and eurusd move in the same direction. gbp going down and eur going up would be the exact opposite of what has been going on for the past year.
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FullTimeTrader riskmode
2 years ago
Hello, im not taking in account the GBP/USD and EURUSD correlation. They do not always move in the same direction. Fundamentally the GBP and EUR have very different economies.
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HexVex
2 years ago
Would be interesting if a point of divergence could be identified. So far I haven't seen one. Ideally it would make more sense to go Euro long while shorting GBP if there was some evidence of a divergence.
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FullTimeTrader HexVex
2 years ago
Yes, there is no divergence now on D1 chart, it seems today the price will close under a strong monthly support, so i expect a more bearish sentiment. The EURUSD situation is complicated due to QE of BCE, we can have sudden moves on both directions. This one is more predictable......
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HexVex
2 years ago
Life is too complicated for me already so I'm going with the predictable choice :)
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