The current structures shows a great liquidity for the OB in the blue area. We are so eager that market opens and see whatever is touches the entry or not.
the GBPCAD price reached a resistance line. the key level has broken & retested🔥 i predict a bearish move (break of structure) 📉 TARGET: 1.55275 🎯 ... if you agreed with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!
Type : Bearish Drop Resistance : 1.2335 Pivot: 1.2181 Support : 1.1950 Preferred Case: On the H1, price is moving below the ichimoku cloud and has recently broken out from the ascending trendline which gives us a bearish bias that prices will drop to the pivot at 1.2181 where the 100% fibonacci projection, 50% fibonacci retracement and swing low support are. Once...
Greetings, An interesting picture is emerging on the British pound. General picture. The instrument is in the consolidation for 6 years, at the moment the price is at its lower boundary. The more times it tests it, the weaker is this support. But since we look at the currency, this process can take months. Nevertheless, if the price leaves the area of...
The GBPJPY pair has formed an Inverse Head and Shoulders pattern (IH&S), which is typically a technical Bearish Reversal formation. The Double Top initiated the first wave down, where all candles got contained above the 1D MA50 (blue trend-line) causing a 0.5 Fib rebound. Now the formation may see the second wave down. If the Support Zone breaks, we expect a 1D...
The GBPCAD pair has been trading within a Falling Wedge pattern, which broke last Thursday to the upside. So far this move has been short-lived as the price got rejected on Friday on the 1D MA50 (blue trend-line) and continues today this trend. While the 1D price action has been on Lower Lows (Falling Wedge's bottom), the RSI has been on Higher Lows, indicating a...
The GBPNZD pair is close to forming a 1D Golden Cross, which is when the MA50 (blue trend-line) on the 1D time-frame crosses above the MA200 (orange trend-line). That is a technical bullish pattern. As you see on the chart, every time the pair formed a 1D Golden Cross, it traded within a Channel Up pattern and the price rose to the 1.5 Fibonacci extension and...
Last time we analyzed the GBPCHF pair was a sell opportunity: This time with a Channel Down having been developed inside the longer term Bearish Megaphone pattern, the price almost hit the Lower Lows trend-line yesterday. With the RSI printing a familiar bottom formation, this is a strong medium-term buy opportunity. The target is the 1D MA200 (orange...
There isn't much to update on the GBPAUD pair, as since our last analysis on April 21, the price has been following our plan in a very precise way: As you see, the similarities with the July - October 2020 sequence have paid off and the price action continues to follow that pattern. We are now at the point where the pair is consolidating around the 1D MA50...
The GBPUSD pair has hit our Target of the previous analysis, breaking in the process that Bearish Megaphone pattern to the downside: Right now a new Bearish Megaphone has been formed with the price trading sideways near the 1D MA50 (blue trend-line) after failing to break it on the May 27 High. Basically the price has been trading below the 1D MA50 since...
The GBPJPY pair has been trading on a long-term Fibonacci Channel pattern as we outlined in our last analysis two months ago. Since May 12, the price is on a strong rebound having hit the 1D RSI Buy Zone. With the prior top resembling those of August 2020 and March 2021, the pair is more likely to extend this rise either instantly or less aggressively, as long as...
We are so eager to see the gray area again and open a short position on there and reach our target. This strategy is based on the RTM and Supply&Demand.
We have a major support Price predicted to fail to break it
By analyzing the structure of the GBPJPY chart, a essential supply area is found accurately, using different strategies. All the position details are mentioned on the chart above. *The sl is mandatory! trade at your own risk, please.
The cable is heading for the major support of 1.20/1.19. Should that support get broken through the next support would be the 2020 low of 1.15/1.14100. Long term wise we should expect a major bounce back but only time will tell.
By examining the situation of the trend in the timeframe of one hour from the last nine days, we see the continuation of the uptrend under a convergent pattern. This convergent pattern indicates that traders are ultimately inclined to grow the pound despite the hesitations in the market. There was no particular movement today in the London trading time, which...
GBPJPY regained above 160 on the strong Pound sterling. Technicals: On the lower side, immediate support is around 159 The minor resistance to be watched is around 161.20, a break above that level confirms intraday bullishness
we still have a bullish view for the pair we update our analysis and use the volume profile consolidation setup so you have to chose your way bullish or more safe be bearish at the levels we expected as shown on the chart