A break of this 0.8620 is calling for the completion of a top. GBPUSD is on the move with the help of political comments pushing the EURGBP to lower level. Reaction High at 0.8620/30. Sell rally.
On the H4 chart of EURGBP, a bullish divergent squat bar has been formed. This signal is supported by the fact that there is the AO indicator divergence and, with high probability, the price has finished the 5th Elliott wave in a down cycle. Going long with the expectancy of the ABC zigzag using trading levels marked on the chart.
Before entering: - waiting for a push to break the 4hr zone - waiting for exhaustion - looking for price action confirmation (e.g. bullish engulfing candle) to close on 4hr tf before entering long -
With no major data releases today, Cable is expected to react on non-economic news, notably any developments coming from Theresa May's visit to Northern Ireland to meet political parties. The meetings will provide them with the opportunity to discuss the Ireland backstop, the political impasse which still plagues any potential Brexit agreement. Yesterday, European...
It is my opinion that the pound is still bullish so my plan of action is to buy in areas of support and dips
GBP/USD LONG @ 1.28632. Missed the better entry signal at 1.28030 my system printed on 01/09 so my R:R is not-so-hot at 0.7. This one could take some time to reach T1 and I'm expecting a bunch of mood swings, per usual for Cable Pairs.
Theresa has repeatedly warned her own MPs that a rejection of her deal could lead to a general election - or possibly "no Brexit" at all. Do you guys have the gut to catch a falling knife?
Nice little up channel formed on the chart. Fib resistance level rejected at 1.297, probably going to retest that level a few more times before breaking to the upside.
Morning all from Phoenix, AZ! Simple chart this morning showing the fib retracement levels and a support trend line. I expect the Brexit stuff to have more clarity before Monday and should see the pound bounce in my opinion. Have a great weekend all.
Trend is definitely up. You can clearly see the POI is in an upward trend. This is an indication that demand is present and price will continues to trend up. As a long trade set up, you can wait for price to retrace back towards the POI and set your stop loss at the POD. If you wish to know indepth explanation on POI and POD, visit my patreon. Have a nice week!
Cable has reversed strongly off long-term support at 1.27 to reverse the short term downtrend Preference = go long with the trend reversal Scenario A) price pulls back to 1.283 before continuing to 1.30 Scenario B) bullish momentum provides no short term dip-buying opportunities so wait
Bullish divergence on the H4 using stochastics shows price exhaustion and a well due correction for this pair. Cable should be well supported at the 1.2920 level and on the H1 we see decent rejection of this zone, which could be the start of the reversal of around 120 pips.
Looking for a quick short and aggressive bullish momentum
Long GBPJPY @ 141.00; TO @ 143.89, SL your choice
On the 4hr GBPUSD chart we see a bullish crab has formed. The D leg has drastically stretched. Look for bullish evidence before taking this trade. I expect the pound to recover and gain strength. All the best mates
I'll be a buyer on the 1.29 purple level below when it gets there.