Previous Monthly Candle was a huge Bearish move. Not expecting for price to shoot up.
Expecting more of a price continuation.
Daily Fib currently around 23.6%
4H Showing resistance and Sell candles forming.
If Pound drops it will go hand in hand with GBPJPY Analysis. See related Ideas
GJ long confluences:
Uptrend third touch
Pullback retesting broken range
Price rejection at 0.681 fib level supported by MA;50
Cup and handle chart pattern
Scaling : Buy stop order set at 152.14
Good luck everyone!
BXY (British Pound Currency Index) 1W & 1D:
The British Pound Currency Index has been trending to the upside since the beginning of the year. The trend is strong, moving in a classic Higher-High and Higher-Low structure.
The BXY is respecting an ascending trendline from the weekly perspective, and we are currently seeing a minor pullback towards it. We expect...
The Pound index forming a bullish wedge on the daily chart after retesting support. Front running bulls have already entered low-risk trades tight on support but will the pattern hold? As a bull myself in the long-term, I am focused more on upside potential than downside; although downward moves are key to entering long. It may not happen now, but I am...
The Pound has been very bullish over the last couple of weeks but it has hit a major resistance level the has been consistent for several weeks.
I expect the pound to test this area with fakeouts before revealing its true direction
I would only test and scalp the pound for a short time interval until a more clear direction emerges
Market opened and wicked the area I had marked out to take my trade from. Looks as though it will be looking to rally towards the 1.335 level I had mentioned last week.
Another 0% drawdown entry.
Depending on the momentum throughout the rest of the day, may even extend TP to 1.339 level as that looks to be the next stop once TP1 has been reached.
1:7 RR =...
Inverted head and shoulder (bearish reversal pattern) printing on the 4-hr timeframe. This can be used with the previous confluence of the daily morning star that printed earlier this week, posted below. This will be used to take in direct alignment with trading for tomorrow's U.K. and U.S. session's.
Hello friend We see the market is over extended that's why it's need a pull back. the market condition says a retracement at channel break is occurred and think this level. the next which is highlighted