SmartTradingFX
Long

GBPUSD: Anyone Else Watching This Retest As Closely As Me?

FX:GBPUSD   British Pound/U.S. Dollar
893 5 19
Analysis on chart!

Previous dynamic support was broken and now we are testing structure support! Price at the time of writing this is coming down to retest this zone where we have 2x 1.272 Fib Extensions, 1.414 Fib Inversion, Potential Double Bottom and Divergence on the RSI!

If we are to reach this zone I am waiting patiently for an entry signal on this pair as we may well have a low risk high reward trade! A longer term target may be the previous dynamic support but I would look first at the 1.5430 area initially!

Please continue to hit that like button and comment away if you like this idea, all your support means a lot!

SMART TRADING
Yup seeing divergence...4hr A/D osc, CMF and RSI(9) all showing it.
Reply
I took this same trade already, for the reason that a still valid Head and Shoulders pattern has formed and before a Cypher was just completed, RSI divergence and descending Volume from the left shoulder to the head and than the right shoulder.
snapshot
+1 Reply
SmartTradingFX Koryphaeen
Thanks for sharing! Looks good
Reply
...im waiting this from last week, but 4h not yet ready
+1 Reply
Cool! Nice to hear another trader has the same idea... I'm waiting to see how price reacts in this zone and of course wait for the next candle! I will trade this off my trading TF which is the 1H! Thanks for your comment
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
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 Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out