1.2-1.21 - That's the price zone you should focus on if you are looking for bullish trades on GBPUSD. The Cable is testing a weekly structure zone, psychological level and the PRZ of a daily bullish Bat pattern.
Possible projection. New highs could happen. Last successful idea.
Even playing safe with the Feb-07 low and accepting a range, there is still a 5.5:1 trade here
Im looking at the Gbp usd to continue to trend from the underside towards 1.27500 resistance before sellers get to gain control again. The 1.25500 resistance area need a big strong push through to reset recent data and continue up. Will keep posted with updates
Suggests a fade to 1.2560 then up above previous high
Can't find any bearish flags to suggest a further fall, buts lots of U-shaped moves, suggesting a move back to 1.27. Also note 50% fib.
The last session closed like this, it's very close to the neckline of that potential inversed H&S, if completed the price should recover from the flash crash, target 1 touching the yellow line around 1.262-1.263 target 2 touching the red line and the flat kumo arount 1.267, once it'll be hit, we could see the bear trend resuming. Could expect a gap up at the...
Cable swing low forming after exhaustive move , like longs for multi day / weeks hold . entry 1.2635 , risk 100 pips . Will exit on my bullcount algo when turns using 4hr tf once swing is confirmed in next 24 hours
Currently long on gbp/aud. risk to rward is very good on this trade 1:4. lets see how it plays out.
Once Head and shoulders plays out out Ill be getting long on the inverse level marked in red
GBPUSD 15 minute play here. Basic analysis of support. Pullback is in line with the 50-61.8% fibonacci retracement levels. If support holds, we will look for the market to target previous high at 1.31573. We will wait for price action instead of inserting a limit order (bid) in the pink area.
Long position according to Fib retracement and trend line ranges drawn. Does not include fundamental affects, yet.
Long GU - It must go up before heading down. Possible reason for downside - November BoE could cut rates further and add to it's current QE. EU talks also start about Brexit towards end of 2016 so keep an eye on that.