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GBPUSD – Forming a Bullish Pattern?👋Hello everyone, let’s take a look at FX:GBPUSD ! Looking at the GBP/USD pair, the market is currently testing a key resistance zone around the 1.3580 level. We can see that a Bullish Bat pattern is forming, with the price action completing the final CD wave. The next move will be highly anticipated. If the pattern completes, the next wave could result in a strong bullish rally. Additionally, GBPUSD is supported by the ascending trendline and the EMA 34, which could push the pair to test 1.3508 again, and with more favorable conditions, it may continue to conquer higher levels. What do you think about the trend of GBPUSD? Let me know your thoughts!
by Kevinn_Nguyen
9
Bearish Bat Pattern Forms – USDCHF Looks Ready to DropToday, I want to review USDCHF ( OANDA:USDCHF ) and lay out the fundamental and technical reasons supporting a Short position bias. 1-Fed policy expectations are the main focus — attention is on the Jackson Hole symposium and signals about the Fed’s path; this has tilted market pricing toward a less hawkish Fed. 2-Dovish bets weigh on the USD — markets are pricing in a softer Fed outlook (rate-cut expectations/pauses), which weakens the dollar. 3-CHF supported by safe-haven flows — amid global uncertainty, the Swiss franc tends to attract demand; SNB’s stance also matters for medium-term flows. Fundamental takeaway: weaker USD (on Fed expectations) + safe-haven CHF demand = a reinforced bearish case for USDCHF in the short term. ----------------------------------------------- Now let's take a look at the USDCHF chart on the 4-hour time frame . USDCHF is trading in the Resistance zone(0.819 CHF-0.804 CHF) and near the Resistance line . It also looks like USDCHF could continue its downtrend with the help of the Bearish Bat Harmonic Pattern . I expect USDCHF to decline at least to the Support lines . Second Target: Support zone(0.783 CHF-0.767 CHF) Note: Stop Loss(SL): 0.818 CHF Please respect each other's ideas and express them politely if you agree or disagree. U.S Dollar/Swiss Franc Analysis (USDCHF), 4-hour time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
13
SOL/USD to reject resistance?An interesting technical scenario is brewing on SOL/USD (Solana versus the US dollar) at the moment. First and foremost, you will note that upside momentum has slowed; this is demonstrated by price action compressing between converging lines, offering two rising wedge patterns to work with (the larger formation is formed between US$127.48 and US$187.30; the smaller pattern is drawn between US$160.78 and US$206.10). With price now testing the upper boundaries of the noted rising wedge patterns and the Relative Strength Index showing negative divergence, this could prompt a bout of profit-taking and force a modest correction. Why I say a modest correction is simply because the larger harmonic bat pattern is in the process of forming its D leg. This could see the pair rally higher before connecting with the bat pattern’s Potential Reversal Zone (PRZ) between US$251.93 and US$247.07. Written by FP Markets Chief Market Analyst Aaron Hill
FPMARKETS:SOLUSDShort
by FPMarkets