Price has form H&SH very good where we have resistance zone at our entry. This make us going short in this pair with a sl no more than 40pips let's see and wait for 1D candlestick closure...
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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.
Believe we will see further weakness from the dollar this week
Aiding in an upside rally for foreign currencies
Pound is one of the stronger ones on my watch list, in correlation
Upside Objectives = $1.2520 followed by $1.2620
Dear all,
In the big picture view of the monthly chart I see an Ending Diagonal Triangle and a bullish divergence between Price and RSI.
The lower trendline contains 3 Price hits and there is a price surge after wave E.
This if from my perspective a very bullish picture.
Let's zoom in and check the spike after wave E.
Cheers,
Merakshi
The GBPUSD is currently in a main bearish trend. A bullish wedge was formed during the last couple of days. this wedge is now broken and the pair is ready to return to the main bearish trend.
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Pattern: Megaphone on 1D.
Signal: (A) Bullish if the 1.2655 trend line breaks and (B) Bearish if the 1.2160 trend line breaks.
Target: (A) 1.3200, (B) 1.1600.
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1st TGT 1.23752 After 1st TGT cross buy
2nd TGT 1.24141 After 2nd TGT cross buy
3rd TGT 1.24552 After 3rd TGT cross buy
4th TGT 1.25063 After 4th watch for Sell
All above are Fibo Levels
This is NOT FINANCIAL ADVICE of any sort!
If you have your own opinion or thoughts about current market situation, feel free to write it in comment below !
HI
-British Pound Among Weakest Currencies in April
-Given the negative news on the British pound, we expect a short-term rise.
-Using technical analysis, I showed two situations for trading, and the second situation has very little risk.
Please follow my support and like my posts.
see you later
GOOD LUCKY
GBPUSD H4 CHART
PS: Thank you very much that you support me with your likes and Comments
If you have another analysis at this pair, please share in comments, I will be glad to discuss with you.
GBPUSD did not break the support line (although trying). But even if the price breaks this line, there is another strong support line nearby.
Therefore, I recommend buying from the second line of support.
The goal is the line of resistance.
