GBPUSD is trading in a range prior to the USD Consumer Price Index data, which shows the change in price across a representative basket of goods and services and is used to measure inflation. Technically the major forex pair is at range support and above the key 1.4100 level. We anticipate upside into the range resistance, and potentially beyond. Our upside target...
EURGBP has traded into resistance prior to the ECB President Lagarde speech, which will provide insight into future monetary policy decisions for the European Central Bank. Technically the pair is at moving average and trendline resistance, and we anticipate downside today.
Cable reached an untested zone on the H4 chart. Expecting a confirmation before going long to take out the liquidity at the top. if this trade plays well it will give us a good RR
GbpUsd nearly completed a clear WXY corrective cycle and ended wave Y with clear 5 waves, i expect for the coming sessions to find a short term support and bounce to retest previous wave 4. before any uptrend might happen again. so we will consider the upward move a correction until it proves its an impulsive.
CHFJPY Is in an ascending channel and has bounced out of a key support / resistance level. I am looking for further downside on the cross forex pair.
Zoom out to the Daily. Mark Key Trends and Key Levels in the market. Price currently residing around 1.38 acting as support. Break to the downside incoming? Keep things simple. Trade these levels and overextensions.
The price is looking really bearish as of right now. We will be looking towards opening SELL positions at appropriate entry points and aiming for the area identified on the chart
CHFJPY H4 Yet to have broken support, but certainly looking like it wants to with the way this H4 candle is looking likely to close. Lower timeframe selloff and pullbacks seem very sequential so far. A break and retest of support/resistance could be the next entry point to jump in with short positioning.
Price is under support. closing bearish more than likely price will fill in the empty space 1.37981
Lots of confluence pointing toward a decline on GBPUSD here. Here we see the rejection of the identified resistance area, in line with the downward trendline. Price is holding well under the 200 EMA also. Price action on the last hourly candle also infers a reversal. I don't really like this pair due to both GBP and USD being two dominant currencies - I find...
first target is previous lower low at 1.37900 second target is 1.37000.
Technicals: Weekly resistance 4hr resistance Daily support 4hr 200ema falling to 4hr res short term bearish fib which 61.8% has held once short term descending TL awaiting 3rd touch Would love another pullback to key psychological level 1.40 which also has multiple confluences would also give us a Double Top off the 61.8% fib and res.
potential setup for next week, us dollar looks strong I can see the pound falling to the 1.38 area next week
This is the second try for Cable to break the 2018 highs, and so far new prices above 1.4444 seems to be hard to reach. That's why its important to have an idea about buying dips and at what low prices it can go so we can have a proper risk management.
Expectations are a rise. Instructions - if trade flat or has not moved in the next 2 hours, take small loss or small profit. Trade with caution, this is not financial advice. Entry: Market SL: 1.38975 TP: 1.40340
Price reached key resistance #1 and currently holding below it. H4 bearish hidden divergence. H1 bearish regular divergence. Looking for continuation lower. If the first level marked on the chart doesn't hold, i will look for sell opportunities at the next key resistance above.