gpuri
Short

GBPUSD is looking to revert to 1.5200 support with WW 5-6

FX:GBPUSD   British Pound/U.S. Dollar
261 18 4
GBPUSD             is looking to revert to 1.5200 handle which is a strong structural support with Wolfe Wave 5-6 being formed.
i am short gbpusd with 1.5200 as first target based on that same structure.... so come on gbpusd...
+1 Reply
hi guys, what is your opinion on this pair? it has broken the wedge and TL, do you think the correction could be over?
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gpuri danndc
the recent upside is with very low volume so personally won't go long for now
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danndc gpuri
do you think we have topped out at 5479? do you think we could visit 150 soon?
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Olu danndc
I think this week it is the $'s turn to shine. We had good fundamental data this last week in the UK so the £ was strong across the board. The upmove was not very convincing though. However it still happened. I am selling only when I see 'strong' signs of weakness
+1 Reply
Olu Olu
... like a breakdown out of the structure
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do you think there is any possibility to test the lows again?
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gpuri danndc
and if it breaks the support at 1.52 then 1.50 handle is next
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gpuri danndc
1.5200 is quite possible
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danndc gpuri
i think that dollar will shine this week, and yellen could not no take care of big NFP seen this month
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gpuri danndc
I think it will go down due to GBP weakness rather than dollar strength. Yellen is testifying on Tuesday but she may again talk dovish.
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danndc gpuri
how can she talk dovish after such datas? where is this GBP weakness?
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gpuri danndc
that is what she did on Wednesday.
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danndc gpuri
i know but now there will be questions and she can't denie that jobs creations is good
maybe she could seem hawkish.

do you think that it could go through 15479 after she talks?
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gpuri danndc
1.5479 is too close so quite possible although it may find resistance at the bottom of the wedge
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danndc gpuri
it has already broken the wedge in h4 so what do you think?
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gpuri danndc
that is what I am talking about. It may find resistance at the bottom of the wedge.
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gpuri danndc
on Wednesday less Hawkish was interpreted as a bit dovish that is why dollar declined.
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