🛑 The pound is showing weakness as it seems to move in lockstep with the broader markets today. Further, economic data is set to come on Friday which should show a contraction in the UK economy due to the lockdowns.
While short term trends are bearish and the COVID fears are ramped up, there is still a case for the bulls due to the overall bullish trend... if...
Hello traders,
I see the price retracing to the area where yesterday I said that it could bounce back up. If this level holds the bearish pressure GBP/USD pair will head towards the inter-range resistance.
Wish you all a great day and be safe !
Support from the lows of April 14/17th. Also broke out of a descending trendline (solid green line on 1hr chart), and came back to test it again, along with the descending support line (dashed green line, 1hr chart). It price action moves up and breaks out of the descending dotted green line, will move stop loss to breakeven and add to the trade.
Props to GWBFX...
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
With the recent news/hype surrounding the pound i thought i'd make a chart, as you can see GBPUSD is in a clear downtrend, an adam an adam double bottom can be seen, upward momentum may continue until trendline is hit.
On December 12th 2019, as the British polls were coming to an end, conservative Boris Johnson was winning. With Boris's the idea to get rid of the Brexit deal that was introduced back in 2008 which lead to a 29.5% crash on all GBP pairs within a year, price on GBP pairs came rising up to over 400 pips within a few hours. This leads me to believe, a good swing...
Hi,
Risky, because it is GBP :)
A possible short-term reversal should stay inside the marked red box. It consists of:
1. The trendline, nice and clean touches, waiting for the third.
2. The orange horizontal line is the previously worked support level which now should act as a resistance. They both make up a solid crossing area.
3. Short-term AB=CD
4. The mid-...
Hello guys , I am looking for long opportunities from my magic box which I have mentioned on the chart . I will be looking for some pullback from that box . This is only for Educational purpose I am not providing any signal or tip .
Pound broke below trendline.
It completed large corrective structure.
Could tag the former low below 1.20.
Entry order sell 1.2438
Target 1.2000
Stop 1.2513
