Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
We have decided on shorting cable based on the 300 pips upward movement for the past 3 days and looking at GBP correcting. The trading set up that we are looking at is:
GBPUSD SELL @ 1.22564
TP: 1.21110
SL: 1.23279
Hey Guys!
The current GBP/USD Daily Bias is short. Or in other words, price is likely to reach 1.3049 before reaching 1.3298.
So I'm currently waiting for a pullback so I can take a short entry.
In this video I explain the reasoning behind this setup as well as the stop loss and target levels I will be using. Moreover, what I will be looking for in terms of...
gbpusd in watchinglist we sell or buy from zones I m expecting long term down side short term try with confirmation buy from demand zone and sell from supply zone long term sell trade
GU, Looking for a buy to sell. Once price breaks above consolidation/no trade area then retest as support with rejection we can take price long into resistance for 100 pips. If and when we get rejection at this area we can sell price back down to the support and to also make a lower low for 200 pips and to make a double bottom
Been short this what seems like forever (and making lots of money!!) with still miles and miles to go - down!
This is easily the 2nd best trade (Short) of 2021.
Here is the long term picture;
GBPUSD Day Short My Underpressure
TP1 - 1.28072
TP2 - 1.26698
TP3 - 1.24819
TP4 - 1.22722
This is not investment advice
Obviously I do not use sl , adjust according to your own account
After GBPUSD failed to maintain the hype and the gains, since then gbpusd was forming huge downtrend pattern. Price prediction of a pair like this is difficult since most of the indicators are showing fake trend, and that is why you cannot depend on one indicator to determine the direction of the market. Out 1 of 5 indicator I used; one only was showing that...
Price seems to have respected the downtrend channel by forming a bearish engulfing candle illustrated in orange.
Price could make yet another long drop toward the support trendline of the channel.
Best of luck!
