The overall trend is bearish bias, in the meantime, however there will be a moderate retracement to the upside from 1.80794 (23.60%) to 1.84025 (78.60%) according to the 2nd Fibonacci sequence. From the retracement to 1.84025 (78.60%), the forecasted projection is set to be completed at (1.75766).
Whats up guys, back with another idea babyyyy, been dealing with some stuff is why im absent yet again. Life has been crazy but thats what makes us wiser, but lets hop right into this one: So as we can see, GBP has taken an extended drop and we can clearly see this from the hourly chart. Price wasnt being decisive about dropping until the very end of the trading...
UPCOMING SHORT IS TRIGGERED WHEN TRENDLINE IS BROKEN
sell range: 1.32578 Targets: 1.32318- 1.32058- 1.31798 Stop loss The first goal: the profit to loss ratio is 1: 1 (1.32838) If the first target is touched (close one third of trades) Stop Losses Second and Third Objectives: 1.32578(Entry Range) , If the second target is touched (close another third of trades) And if the third target is touched (close the deal)
GA has been ranging back and fourth between 1.85000 and 1.82000 and I believe price is about to make its way back to 1.82000 , if so price will create a double bottom and move up back towards 1.85000. Price could also move down from where it is now 1.83000 to 1.82000, and continue falling. Price reached its resistance at 1.84940, fell, and now is about to test...
GBP-USD Daily and Trend Analysis It took decades for sterling to drop below the 1.4000 price mark well it looks like it may take another decade for it to break above that. The daily chart on the cable looks quite bullish for the past few days however the H4 begs to disagree seeing a closeup on the trend reversals, the UKs economy on the other hand haven't been...
GBPAUD looks like a nice sell on the hourly chart that is worth about a 90 pips target. My moving averages indicate a trend reversal popping up.
GBPNZD looks like its about to reverse into a downwards trend. It tested the moving averages with a nice potential rejection heading south. A reasonable risk to reward ratio was placed taking into consideration that there is room for a third retest.
Resistance goes way back on weekly chart. After weekend, I will look for trade. The Fibs correlation is nice.
GA Short , crossing into an area of massive selling pressure and resistance should see a nice push to the downside. Could turn into swing trade if held long enough. Also previous bullish momentum failed to test previous areas rejecting off our fib levels marked out, Everything is lining up perfectly however be cautious if it breaks/ closes above the key level...
Price is testing my daily support as of now, waiting to see if there is more bearish movement. I have a *weekly* Descending channel plotted as well and price is just over the resistance line, with that i'm waiting for two things only.. 1.) Price to break my daily support and keep falling to my weekly support OR 2.)...
(1) Big Daily Bat (2) Daily Structure if price goes higher we can aim for the Big Bat (3) Cypher pattern at market (4) Bat pattern at already a little lower than market (5) RSI Divergence (STOP) had to be little lower than 1.13 to get a 1:1 , stops are hug also with 200+ pips (T1) can aim for the 382 , with 136 even (T2) can aim for the 618 , with possible 134...
I feel the inability for GBPUSD to break through the 1.315 level means it looks fairly exhausted and i'm expecting a drop in the coming weeks to 1.2760 or thereabouts. If it wasn't for the USD being tragically weak at the moment i believe this would happen sooner rather than later. The UK economy is officially doomed for now, the US not so far behind. Lets see how...
After breaking out of 4hr wedge pattern, expect pair to retest trend line (with Fibonacci and market structure confluence) then continue downward
We been on a weekly bulllish momentum.Will be looking for 30min support to hold and retest the high.