On GBPAUD, we have a bearish setup that, after reaching highs around 1.8780, is heading back down towards 1.8620. To reach our point of interest (POI) zone, the market could bounce around 1.8680 before descending to 1.8620, where the long trade will initiate with a target of 1.8780.
Let me know what you think.
Happy trading to everyone.
On this, we have a bearish setup that overnight created a zone of interest for a short trade within a supply area around 1.9960. The objective is to wait for a bounce in that highlighted yellow zone and then enter a short trade with a target of 1.98. Pay close attention, as after days of congestion, the market seems to be showing some momentum.
Let me know what...
Pound Sterling Forecast: Extended Range Trading for EUR/GBP
Danske expects that the Bank of England will increase interest rates for a final time in June. It notes that at least one further rate hike is priced in by markets which will limit scope for Pound buying.
It does, however, consider that the Pound is slightly undervalued which will underpin the...
Danske expects that the Bank of England will increase interest rates for a final time in June. It notes that at least one further rate hike is priced in by markets which will limit scope for Pound buying.
It does, however, consider that the Pound is slightly undervalued which will underpin the currency.
Hey Traders, in today's trading session we are monitoring GBPAUD for a buying opportunity around 1.87200 zone, GBPAUD is trading in an uptrend and currently in a correction phase in which it is approaching the uptrend at 1.87200 support and resistance zone.
Trade safe, Joe.
Fundamental Backdrop
BOC Gov Macklem Spoke yesterday
Higher-than-expected inflation erodes purchasing power
Uncertainty in the outlook for inflation creates instability and affect the currency's value.
External factors such as Russia's war on Ukraine and disruptions in food prices put pressure on the GBP.
Technical Confluences
Support at 1.24500
...
SLO @ 141.75 ⏳
TP3 @ 1.3970
TP2 @ 1.3570
TP1 @ 1.2840
BSO @ 1.2540 📈
BLO @ 1.2455 📈
Technically, the analysis for GBPUSD is flat. This currency pair is currently trading at $1.2485, which is still below the Anchor of May 27, 2022 which is @ 1.2667. This suggests that the trend is bearish. However, the bulls broke the Anchor on Cinco De Mayo reaching $1.2680,...
GBPAUD - 24h expiry
Previous support located at 1.8740.
Previous resistance located at 1.8800.
Broken out of the triangle formation to the upside.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
We look to Buy at 1.8715 (stop at 1.8650)
Our profit targets will be 1.8825 and 1.8850
Resistance: 1.8800 / 1.8850 /...
GBPJPY got rejected on R1, making so far a Double Top with the October 31st 2022 High pausing a rally that has started at the beginning of the year. As the 1D technicals show (RSI = 62.785, MACD = 1.330, ADX = 28.382) the trend hasn't changed, technically it does only with a candle under the 1D MA200. But every such HH rejection always tests the 1D MA50. Based on...
Hey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.24400 zone, GBPUSD is trading in an uptrend and currently seems to be attempting to break it out, if we get dips below 1.244 support area we will be looking for a potential retrace of the trend.
Trade safe, Joe.
Foreign exchange analysts at ING have updated their latest currency forecasts and predictions for the Pound Sterling
Sterling will be influenced by global economic and financial conditions. It notes; “Sterling’s correlation with risk assets has fallen a lot this year – a factor probably helping sterling at the moment.”
The Pound will still tend to be vulnerable...
This expectation is a framework to look for a potential trading setup; I don't just execute based on these levels, I always wait for confirmations on lower timeframes
This Analysis was done using my complete Strategy which includes:
- Smart Money Concepts
- Multi Timeframe Liquidity and Market Structure
- Supply And Demand
- Auction Theory
- Volume Analysis
-...
After price broke structure to the downside, it impulsively retraced and retested 4h supply zone. It then reversed, breaking structure on a smaller timeframe which gave us a shift in market structure. Price has now formed liquidity which it could potentially use to push further to the downside
Trade Idea: Selling GBPJPY
Reasoning: Selling into short term downtrend resistance
Entry Level: 170.22
Take Profit Level: 168.02
Stop Loss: 170.74
Risk/Reward: 4.2/1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The...
After price tapped into higher timeframe POI, it gave us a shift of market structure on the inner trend which could be the beginning of its expansion to the upside. Price preceded to break further structure and has now retraced back to fill in the fvg formed during its move. It has now formed liquidity above our POI that it could use to fuel its expansion to the upside
Hey Traders,
Check this trade setup on GBPCAD out.
Following the simple price pattern, a break below the lower band of the ascending channel.
Keep close watch
hello dear trader
this price action look like roadmap for trading
Maybe I couldn't get my point across in voice
but the levels are completely clear
stop loss need for any position
good luck 🍀
