Two chart patterns are in play right now for FX_IDC:GBPEUR on a long term scale. First of all, GBPEUR is breaking out from triangle, with target at around 0.98. And further there is an option that GBPEUR is forming head &shoulders pattern. H&S would be confirmed, if currency pair breaks neckline around 1, then pound may drop as far as to 0.75-0.80 region. As...
HTF GBP Bearish USD semi-bearish 15m fibs show a possible retracement to the .7 level and then bearish momentum
Hello Traders, GBPUSD fell into complex corrective pattern. This week Pound find support @ 1.2655 level and could not brake the previous week high. I am looking wave C of B downside upto the support level of 1.2605.
I zoomed in on to the 15 min chart and I can for sure see what I think is a possible selling opportunity. It might now trend down for long but you can for sure catch a few pips off this move. I would enter now and set a stop a few pips above the resistance. In that case if the trend is directly up from here you won't risk very much capital.
1. Truncated wave 5 means the current wave is making abc correction upwards 2. This impulse and correction waves can be constitued as wave 1 &2. 3. Further downside is expected to finish up the C leg.
GBPUSD Trade Idea t.me/PortalFX for Signals
A potential trade opportunity with massive gain
Open Sell position on 1.3092 SL 1.3121 TP 1.2986 RRR - 1:3.6 I think many major pairs is going down (xauusd, audusd, gbpusd). What about USD ?
Open SELL order - 1.3069 SL - 1.3113 TP - 1.2867 RRR - 1:4.6 Adding new SELL order Reasons - breakout sell level at 1.3068 and retest it
GBPCAD Trade Idea t.me/PortalFX for Signals
GBP has been under lots of pressure lately, All 8 Brexit proposals by the British PM (Theresa May) were all rejected. This has put the GBP under investor risk and uncertainty, the last 4 months been a Bullish ascending channel ride for GBP/USD. The bulls are no longer in play as the channel is broken to the downside with a strong retest and 200 ema daily...
Over the next couple of weeks, I would think that this pair will be highly driven by Brexit. It potentially could turn in any direction but in the rewards for the shorting the pair down to 1.18 is strong. If things turn confluence at the lower time frames should be monitored allowing with price action. However, this would need to close above the daily...