British Pound Price continue trading in descending channel .
GBP pulled back from upside of channel few days ago.
From the upper channel trendline it was good moment to sell.
The short position continuation can take next good level (1.31000) as a target.
GBPUSD made the first drop of 700-1000 pips last week.
The support 1.3100 is strong and could retreat and...
Hey Traders, in the coming week we are monitoring GBPUSD for a buying opportunity around 1.33 zone respecting the support line of the descending channel in combination with weekly demand zone. once we will receive any bullish confirmation the trade will be executed.
Remember to use proper risk management, because in swing trading the movements are more violent...
We are nearing the end of the correction wave.
The price can rise to the level of 1.97144, but the main trend is falling.
Look for sell deals as long as the price is below this level.
What do you think?
I have been following GBPUSD's recent decline from the 1.38000 level over the past few weeks across various intra day positions.
I am anticipating price to fall further toward the September low at the 1.34000 psychological, which is also it's lowest price since December 2020.
I have entered another short position today following the retest of the 1.36 level,...
The British pound recovered some ground on Friday, as the New York session finished, trading at 153.12, down 0.29% at the time of writing. The New York session ended with an upbeat market mood, as portrayed by US stock indices, rising between 0.08% and 0.56%.
On Friday, the GBP/JPY pair reached a daily low at 152.81, but the Sterling pound recovered some losses...
Measuring in daily TF, just ruler & guideline for swing-traders. Taking 0-1-2 as base for measuring 3-4-5.
(Sorry, removed the previous one as it said to be Daily TF but published mistakenly in Weekly)
GBPNZD dropped to a key level.
Analyzing the intraday perspective the reaction to that structure was overwhelmingly bullish:
the price managed to break and close above a resistance line of a falling parallel channel on 4H.
Now the price may go higher.
Next resistance - 1.933
❤️Please, support this idea with like and...
• As mentioned, Market responded to the positive news. •
• If the price is well supported by the volume, it can break the 200-day and 100-day moving averages and start the uptrend.
• If you have acted according to the said analysis, if the announced points are broken, you have entered the bought position, the +60 pip position is in profit, and in case of volume...
looking for a pull back on smaller time frame for entry and expecting a mid term trade in bearish momentum. I'm witnessing a some nice buyers exhaustion candles especially the previous daily candle giving me more confluence to the sell with a strong pin bar at resistance.
I have a trendline on the smaller time frame and once it breaks and retest for another...
As we all can see on the 4H chart that the British currency made New Lower low and went up for a Retracement and retest as we expected and from that perspective we can make more sell positions for more downward momentum on the 4H and the DAILY charts
we think that the British currency will witness more decrease in the prices in the coming weeks therefore we...
Given the energy crisis that Britain is experiencing a significant share of this crisis!
If the price can not break up from 1.3650 to 1.380 we will see a downward trend in this currency! If the price falls, the targets of 1.3430 and 1.3280 will be palpable!
The news of the coming days will have a significant impact !!
Do not get carried away. Please verify this before adapting.
Disclaimer: This is just my idea. Am not liable for the end results if adapted by anyone. Trade cautiously as there are chances that you will lose your investment..
As you can seen the British Pound has completed 5 waves to the downside and is trading in a corrective ABC wave. Wave B found support at the 61.8% fib and wave C is on. My take profit targets are the two blue boxes.
We are also witnessing the process of forming an inverse H&S pattern.
MACD is showing a strong convergence as well.