The GBP/USD pair has formed an expanding channel, indicating a steady bullish rally following a breakout. Currently, the price has retraced to a significant hourly resistance level. There is anticipation for a potential bullish breakout to occur, which could sustain the upward momentum in the market.
By the end of the last week price formed strong bullish pressure. Price reached 1.2400 resistance zone. I will wait for the price to react to it. Its possible to see retest of 1.27800.
Potential strong resistance at 1.30000
Potential bullish reaction to 1.27000
Hello,Traders!
GBP-USD went up sharply
And the pair is locally
Overbought so as it is
Retesting the resistance
Of 1.285 I think we might
See a local correction
Sell!
Like, comment and subscribe to help us grow!
Check out other forecasts below too!
We're seeing price rise towards a major overlap resistance at 0.8552 which also coincides with a 23.6% Fibonacci retracement, 38.2% Fibonacci retracement and a shorter term 61.8% Fibonacci retracement.
It's worth noting that there's a fair bit of bearish momentum too wish the descending resistant line and the bearish ichimoku cloud pushing prices down.
A drop...
Preferred direction: BUY
Comment: This instrument also moves up, according to our scenario. Now the buyers are going to break out the level of 1.09000 in the "triangle" format. Entry in the direction of the local trend strengthens long positions and gives more confidence in the uptrend impulse. The current buyers' target is at the level of 1.09623. Do not...
Hi there, looking at the GU market today, you could notice that the price has shown a deceleration in the bullish move, which shows that the market is preparing to head back down to the support level. A bearish pin bar has formed which indicates a lack of interest in the current market price from the bulls. Also, the price is between 61.8 and 50 percent of...
Based on the H4 chart analysis, we can see that price is approaching our buy entry at 1.2674 which is an overlap support level that aligns with the 50% Fibo retracement. Stop loss will be at 1.2596 which is the previous swing high. Take profit will be at 1.2738.
Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’)...
GBPUSD forms a retest of 0.236 Fibo and the resistance area of the new descending price channel and is preparing to continue falling.
TA on high timeframe:
1) Price from resistance 1.28484 forms a correction to 0.382 fibo and enters consolidation between the nearest levels.
2) The fundamental background for the pound against the dollar takes a negative side....
On EURUSD, we have a bearish setup with the price currently at the lower end of a channel. I expect a retracement around the 1.0876 area, where we have a significant gap on the H1 timeframe within a supply zone. Before entering, I will wait for price confirmation on both the M15 and H1 charts. Then, I will assess the short entry with a target at 1.0830. It would...
Preferred direction: BUY
Comment: The British is still slowly, but still going to an intermediate level of 1.27695. This level can be said to be the median of the current price range 1.26989 - 1.28484. Just at 1.28484, the current target of the buyer is located.
Thank you for like and share your views!
The GU has shown us a change in direction, and the price is respecting the order block by showing an exhaustion candle around It. Higher High and Higher Low have formed. It's the beginning of the uptrend move.
Based on the H4 chart analysis, we can see that price is approaching our buy entry at 1.2674 which is an overlap support level that aligns with 50% Fibo retracement. Stop loss will be at 1.2596 which is an overlap support level. Take profit will be at 1.2738.
Furthermore, price is above a major ascending trend line suggesting further bullish momentum is on the...
Based on recent market price action, GBPUSD has formed an expanding channel on the hourly timeframe. The breakout from this pattern confirms a bullish signal, indicating that we anticipate the GBPUSD to continue its upward movement. Our minimum target is near the recent swing high of 1.283.
My dear followers,
My technical analysis for GBP/USD is below:
The price is coiling around a solid key level - 1.26930
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Goal - 1.28029
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the...
By examining gold in the 2-hour time frame, we see that the price finally fell below $1,900 as we expected with the publication of the Final GDP q/q and Unemployment Claims statistics, and is currently trading in the range of $1,898! If the price stabilizes below $1,904, we can expect further fall ! Its targets are $1891, $1870 and $1857 respectively! Total yield...
Preferred direction: BUY
Comment: Buyers failed to overcome the local resistance levels and there was no entry point (BUY), as we had planned in the previous idea. Now, at the level of 1.08485 (where limit buys were previously located) there may be a potential entry point formed if the price closes above this level. In this case, a false breakout will be...
Hi Traders!
There is a bear flag opportunity here on the GBPUSD 1H chart. After the bear momentum swing down (flag pole), we are now in a consolidation period (flag channel), and in a consolidation period, the market decides to either continue the trend or reverse the trend. The price action on this setup suggests to us that the market wants to continue the...
GBPUSD is testing global support and key Fibo level. A false breakout is forming and most likely a correction may follow before a further decline on the background of a stronger dollar.
TA on the high timeframe:
1) False break-down of the strong level (May) 1.26525.
2) Price consolidation below resistance will form a good entry point for a short position
3) The...
