GBPUSD trading in downtrend line
price rejected from key level around 1.23000
price below SMA 100
MACD shows bearish momentum
RSI trading in downtrend line below 50
price forming AB=CD pattern
so its expect further selling to pattern target at 200% fibo around 1.20500
then to support level around 1.19000
Very simply strategy, the chart speaks for itself.
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Darren
Blue FX
GBPUSD H2 CHART
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Mam wrażenie, że dużo osób czeka już na wzrosty na kablu, a ja odnoszę wrażenie, że jeszcze nam przyjdzie poczekać na to;)
Będe ten setup rozgrywać jak zaistnieją do tego odpowiednie warunki, co widać też na wykresie
Price has ranged well through this descending channel all week, with price bottoming out today before coming back up for a correction. Looking for a retest of upper channel levels before the trend continues.
According to my wave count analysis on my 4 hour chart GBP/USD market is going up, even dough, there is a break out already in the parallel channel bottom line , market has to test that last bottom resistance level. Stochastic indicator is showing bullish divergence and RSI in the oversold area
Follow me for more updates and happy trading!
GBPUSD H4 CHART
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If you have another analysis at this pair, please share in comments, I will be glad to discuss with you.
GBPUSD broke uptrend line ,retested it
price rejected from SMA 100
MACD shows bullish momentum weakness
RSI below 50
if price broken HVN around 1.23940
it will confirming bearish movement to demand zone around 1.22000
Dear all,
I expect a "head and shoulder" pattern at GBPUSD to be shaped. The current rise is a TRAP. I assume this is "just" wave c of the ABC correction.
After forming wave ii, Price might impulsively fall in wave iii.
Once wave ii is formed, I will update the post with more information. Stay tuned.
Merakshi
Hello everyone!
I write this update because GBPUSD broke trendline and right now price is at a sensible level. I have two scenarios right now:
If this level ( acting as a resistance and trendline retest) reject the price we take into account SHORT position.
On the other hand if price will go higher 1.25080 and comes to retest that area we may look for LONG...
