Razvan
Long

GBPUSD - At a Cross Roads

FX:GBPUSD   British Pound/U.S. Dollar
The pound - dollar currency pair got to a cross roads. From September 2013 the 100 EMA has managed to keep the price above. At this point the MA is retested. We can presume that the price will bounce again and continue the up trend. But what will happen if the support will be broken? Interesting, no?
Mincealors99
2 years ago
I notice the RSI going lower; initially in Feb was at 40.86, and in Aug at 36.45. Does this look like a divergence to you? and perhaps supports the possible pessimist scenario?
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Razvan Mincealors99
2 years ago
For the moment I think that it could get a bit lower in the oversold area.
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Imraiden08.
2 years ago
Use 80 EMA you ll see things better.
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Razvan Imraiden08.
2 years ago
I will take a look, thank you! I believe it will be closer to the price. But it really depends on the provider. I have the 100 acting like the 80 here on another provider :)
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tomasz.goljan
2 years ago
There's one more thing that should be taken into consideration, as Great Britain GDP is almost 80% services based and they don't export much stuff. Great Britain may gain alot on the new Europen Union Sanctions as they are the economy which should not be harmed by economic sanctions.. Also Pund might be considered as "Safe Heaven" versus Euro. Technicaly speaking we are still in uptrend and that's quite clear, I'd be worried if we manage to break 1,692 and then 1,682 levels, not yet.
+1 Reply
Razvan tomasz.goljan
2 years ago
You are right, all the signals are still bullish :)
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jaszper.liew Razvan
2 years ago
no more bullish signal?
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Razvan jaszper.liew
2 years ago
The up trend in not yet invalidated. A break above 1.6950 can be a good bullish signal :)
+2 Reply
jaszper.liew Razvan
2 years ago
thanks Razvan!
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Razvan jaszper.liew
2 years ago
you are welcome :)
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jaszper.liew Razvan
2 years ago
hi Razvan , gbpusd already broke the line and it heading 1.67...is that still possible bounce back 1.7?
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Razvan jaszper.liew
2 years ago
to 1.7, i don't think so, but it could retest the 100 ema and continue the downtrend. Only a false breakout could signal a comeback to 1.7
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Mazen_alhegili Razvan
2 years ago
I think retrace is over here, Now aiming for higher high.
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Razvan Mazen_alhegili
2 years ago
it might happen this way :)
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Mazen_alhegili Razvan
2 years ago
1.73 why not !? im long :)
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Razvan Mazen_alhegili
2 years ago
where is ur safety level? (SL)
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Mazen_alhegili Razvan
2 years ago
6785
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