GBPUSD, Initial Wedge-Pullbacks, Potential Continuations!
Hello There!
Welcome to my new analysis about the GBPUSD pair on several timeframe perspectives. Despite the GBP GDP increased up with a main factor of 0.2% for the second quarter of 2023 the prices initially pulled back to the downside from the local highs established in July 2023. As potential factor for this pullback could be the underlying expectations of higher interest rates in the GBP region to prevail in the next times. Technical indications for such a more bearish sight could increase the possibility of a continued pullback here. Therefore, the question is if a bearish scenario should be primarily considered which I lift in my analysis.
In my analysis I consider the primary ascending-wedge the GBPUSD is forming on the daily timeframe perspective. Furthermore, there are technical factors that support the completion of this ascending-wedge-formation to be completed in the next times as there are important resistances to consider in this whole dynamic. Currently, there is a momentously high likelihood possibility for the whole ascending-wedge formation to complete in the coming times support by the structures on the several timeframes and the actual bigger global picture on the weekly timeframe perspectives. We will keep watching the pair and consider a positioning on the right side once further confirmations have been established.
In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated.
VP
Welcome to my new analysis about the GBPUSD pair on several timeframe perspectives. Despite the GBP GDP increased up with a main factor of 0.2% for the second quarter of 2023 the prices initially pulled back to the downside from the local highs established in July 2023. As potential factor for this pullback could be the underlying expectations of higher interest rates in the GBP region to prevail in the next times. Technical indications for such a more bearish sight could increase the possibility of a continued pullback here. Therefore, the question is if a bearish scenario should be primarily considered which I lift in my analysis.
In my analysis I consider the primary ascending-wedge the GBPUSD is forming on the daily timeframe perspective. Furthermore, there are technical factors that support the completion of this ascending-wedge-formation to be completed in the next times as there are important resistances to consider in this whole dynamic. Currently, there is a momentously high likelihood possibility for the whole ascending-wedge formation to complete in the coming times support by the structures on the several timeframes and the actual bigger global picture on the weekly timeframe perspectives. We will keep watching the pair and consider a positioning on the right side once further confirmations have been established.
In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated.
VP
Comment:
ANALYSIS UPDATE: GBPUSD emerged with extensive high bearish volume and momentum and is now setting up the final breakout completion.
A bounce below 1.25 will setup the massive bearish wave.
A bounce below 1.25 will setup the massive bearish wave.
Comment:
ANALYSIS UPDATE: As mentioned in previous ideas about GBPUSD from my side, the price-action is now continuing to form the next several lower lows.
GBPUSD has also completed the gigantic ascending-wedge faster than aimed. Further bearish price-action is indicated.
GBPUSD has also completed the gigantic ascending-wedge faster than aimed. Further bearish price-action is indicated.
Comment:
UPDATE: The GBPUSD pair continued with the bearish extensions and formed several severe lower lows.
The GBPUSD continued into a bear-market condition and the trade setup on the short-side has greatly realized.
The short-side trade setup entering after the completion of the bearish wedge could print a whooping forex return trade of 15% with the dynamic profit leverage factor.
If you want to know more about this kind of forex setup to handle with the dynamic profit forex market approach feel free to write me a DM.
The GBPUSD continued into a bear-market condition and the trade setup on the short-side has greatly realized.
The short-side trade setup entering after the completion of the bearish wedge could print a whooping forex return trade of 15% with the dynamic profit leverage factor.
If you want to know more about this kind of forex setup to handle with the dynamic profit forex market approach feel free to write me a DM.
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The Next Times Will Show if a Breakout Follows Immediately or a Initial Stabilization Sets Up to Test Previous Resistance.