The Pound has exploded higher on Friday and in my experience after such strong movements comes a decent pullback. I am bullish on the GBP as we are now trading well above the most important moving averages, aswell as having convincingly broken through the Daily 21 EMA. I am expecting a retest of the D21 and previous structure found at the 133.200 level before...
Sell the rally, but where to sell? The big blue 504 period EMA represents the Daily 21 EMA on this hourly chart, and as you can see we had 2 nice bounces off of it. I have marked up the 618 fib of the double top so if you were a bear you could short from 132.937 as a 2618 trade with an initial target of 132.477 or roughly 45 pips. The rest is up to your trade...
It a long term Trade with high Reward 1:3.5 Risk Reward let's see
I think we see nice retest, buy more lots SL 129.84 (see related ideas)
GBPJPY Hard buy breakout expected for long! Dont miss that! As always, Buy GREEN Sell RED breakout!
GBPJPY Buy Green/Sell Red Breakout - Simple and Easy
GBPJPY Two ways, Two breakouts to watch. Buy blue line, Sell Purple...
The price finding support area at 139.50. Bullish as long as support area remains intact. As intraday trading strategy. we must get bullish signal confirmed by trading above 140.50 with potential target at 144.30- 145.70.
am getting obsessed with this pair. what we have here is a broken trend line on daily time frame. the trendline was tested in a trade we took earlier in this pair : since it failed to break the line, am expecting a down movement from now on till 147. considering brexit is on its way, I think this only makes my statement stronger.
GBP pairs are very volatile due to Brexit, so be careful. great ratio, best of luck !
We have a broken trend line on a very unstable pair, considering brexit and all. Don't risk too much on this pair as GBP acts really randomly, but with all that being said, this trade has a great ratio and we have already pulled back and am expecting upward movements to 157-158.
Price may continue in downtrend to 160.907, if it breaks 160.621 then it'spossible for the price to down to the S&R level of 160.402. If so then look for price to retrace from 160.402 going in an uptrend and retest around 161.375 and retrace, look for a possible breakout "Long"
I think it will go up for a while, Fibo clustering at 50% = 158 Be sure that RR is good for you.
Amazing Finally it can break the resistant of daily chart. But, i still no order, BOJ is still important My plan,: No follow, still waiting.