Morning outlook - GBP/USD inches higher amid GDP report According to the Office for National Statistics, the temps of growth of British economy spiked to 0.4% in the third quarter. This news gave the cable an upside momentum, which it used to break through the upper trend-line of a dominant descending channel. As there are no significant UK or US data releases...
This pair i think is not ready to drop yet. 4H and Daily charts are still very bullish. 1.36 and higher is still likely if trendline holds...
Hi Guys, Look for corrective structure on lower time frame, and take the buy, it has very good potential, i'm seeing 5 wave impulse on 1h so look for correction of that impulse and take the buy. If EURGBP Starts falling it will surely go up. Good Luck.
As seen on Daily Chart GBPUSD is pricing in an uptrend channel but can not break above the physiological level of 1.30000. We will not enter a SHORT trade as long as The Cable holds above 1.27500. Key levels for today: 1.28890 and 1.28480. We will use any price movement to those levels as a BUY opportunity and we will watch the breakout of 1.29900 to add LONG positions.
The price is currently sitting on the 61.8 fib level which could lead into a higher high to the 1.272 fib level. The main longterm target is 1.345, and the short term target is around 100 pips from the current area. The gbp/usd is still in a strong bullish trend.
GbpUsd - Daily - Longs in play.. price trading in a bullish structure making new higher highs and higher lows.. the trend is bullish so we are buying on a pull back
Suppose 1.3020 holds and we get a pullback to entry, more upside is expected. 1.31 likely before weekend
If 1.2980 holds before London open tomorrow, we could likely rally higher. Eyes on this one. Would prefer a London entry
GBPUSD set to break of a range it has been trading in for while now since october of 2016 All indicators pointing to the upside for me respecting trendline and fib supports perfectly We may finally see GBP breakout to the upside I entered this trade on Friday before markets close around 1.29900 SL:1.295 TP:1.312 3.01 risk reward ratio
Looking for pull back to be completed and to long around 1.2880
We are at important 4 channel support here on Cable alongwith 50% fib of the recent move. This is a decent area which should hold. Long GBPUSD @ 1.2817 target 1.29 Stop @ 1.2787
GBP fell hard after being announced that there would be no rate hikes anytime soon. I am expecting good buy opportunity around the 50% fib and the 1.25 area. if it breaks we could see gbp head all the way back to 1.20 area
Don't miss this explosion. Got the idea on Jan 28 1st target 1.69-1.70 cypher 2nd target 1.87 kaine pattern and 61.8 fib from may 2016 highs
After a considerable drop based on the General Election result I feel now is a good time to get in cheap on the GBP against a falling USD. I have placed my stop just below the current 200sma (which i expect to rise over the next few weeks) and set my TP below yesterday's open.
Trading the pullback for the bigger downward move. :)
Firstly price moved above 200sma on 18/4/17 for the first time since the Brexit referendum. Price action has consolidated above the 1.27648 level which had proven to be a difficult resistance level to breach post Brexit, this level has since turned to a clear support level over the last week. Initial TP placed just shy of the 1.30000 round number.
GBP/USD is near our target. It is advised to close 75% or more of your position if you haven't already. Subscribire for future trade ideas.