IvanLabrie

GBPUSD: 6m key levels and current trend signal

FX_IDC:GBPUSD   POUND STERLING / US DOLLAR
We have very clear signals in the 6m chart in GBPUSD             . This level should support price if bulls have any kind of chance here, else it'll probably follow the forecasted targets on chart, to be reached before July 2021.
This is meant mostly as an analysis piece, but we could look for short term long opportunities from here, simply monitoring short term charts, and paying attention to Vix             .
I'll expand with more charts in the comments.

Cheers,

Ivan Labrie.
Comment: Since we're oversold and rgmov is in an uptrend, there could be a reaction to the upside very soon.
Looking at the level here shows bullish price action in the short term. We might see a rally within one hour.
snapshot
Comment: Up 200 pips or so from my estimated turning point. Not too strong an advance though, but seems like it can keep going some more. Sentiment has hit a negative extreme in general. After some relief rally, we'll see the risk on complacency return, and then things will probably sell off some more.
Comment: Goot to see the long term support held. We got a clear reaction to it. I think we can hit 1.4065-1.4075 in a few days.
Comment: We hit the 4h target, there was an uptrend signal, but time ran out. We might retest 1.3331 soon unless we move back above the new mode here:
snapshot
Comment: The power of Tim West's 'Time at mode' methodology:
snapshot
Comment:
snapshot
Comment: Holding back above the key level on chart. We'll retrace part of the Brexit decline surely. Maybe all of it.
What could you say about EURUSD? The same arguments applies for it? Thanks.
Reply
Updating the EURUSD chart, cheers.
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