USD – The dollar edged lower on Monday as investors began positioning themselves ahead of this week’s Federal Reserve policy meeting, with many analysts expecting the Fed to once again defer from a commitment to taper.
GBP – Sterling climbed above $1.38 against a broadly weaker dollar on Monday, supported by encouraging data over the weekend showing a fall in...
Hi guys . The most used thing in this market is the Fibonacci support and resistance levels, but everyone draws it according to their own mind. There is only one way to draw it correctly and I have drawn you to the correct fibonacci levels in this post, let's watch and see the reactions from these levels. If you want this drawing technique as a training video,...
Hey traders, here is the analysis for the GBPUSD. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks. NOTE - Please do your own analysis before taking the trade.
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The market is breaking out bullish of the daily Trendline.
Simultanouesly, it is also breaking out of the (often respected)
At this moment we see bullish strength and momentum
and the bears are weak now.
If you want more information on why this propably happened,
than comment below or make a message!
One of the best ways to enter...
We saw bullish momentum rule the game today.
Bullish candles breaking above strong levels as the dollar weakens.
With the daily candle closing above this level, we can expect a pullback before this pair flies to the upside.
We're keen, waiting on the sidelines so as not to jump into a moving train.
FORGOT TO POST THIS EARLIER. WAITED FOR PRICE TO TRADE ABOVE OR BELOW FRIDAY'S HIGH OR LOW. ONCE THAT HAPPENS, DRAW OUT MY FIBS AND WAIT FOR PRICE TO RETRACE BACK INTO MY OPTIMAL TRADE ENTRY WITH ANTICIPATION OF PRICE GOING HIGHER OR LOWER DEPENDING ON IF IT BREAKS THE HIGH OR BREAKS THE LOW. WHICHEVER ONE, AND REACT TO WHAT PRICE IS SHOWING ME ONCE NEW YORK OPEN HAPPENS.
Price broke out of the ascending correction and made an ABC correction and now we are about to move down.
On lower timeframe we're waiting for a retest of a minor structure level before moving down.
Goodluck and trade safe!
Last week, our forecast came true as the British Pound started a bullish move, bouncing off from the support level.
In the coming week, we expect the bulls to gain more momentum and retest the orange trendline. If we get a breakout, then we have a great chance to reach the resistance level.
Trade with care.
Overall, GBP/USD is ranging across. Recently, GBP/USD trended up into the resistance zone of 1.38000.
Currently, GBP/USD is testing the resistance zone of 1.38000 and the next support zone is at 1.36000.
Look for buying opportunities of GBP/USD if it breaks the resistance zone of 1.38000.
#GBPUSD Price is trading the Resistance Area and it is also react the 4HR resistance so it is possible to a drop And the price also possible to down and touch the 50EMA shooting star candlesticks will formed in resistance area
Why we like it:
Price Trading in Resistance area
formed shooting star candlestick pattern
Attend the 90% fib level
• If price pushes down to and ideally just below our rayline, then I'll be waiting for a convincing impulse back up followed by a tight flag and then I'll be looking to get long with a reduced risk entry on the break of the flag.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
As we have forecasted yesterday that price will test resistance ,Gbp have moved above resistance at 1.3780 but capped by 2nd resistance at 1,38240
Today is high volatility day , we are still long , as long as price stays above support at 1.3720
We can add small long with so just below support and daily target at next resistance 1.3890
A triangle formation has formed. The problem here is that it is not a big one and is subject to more risk.
Up or down does not matter since is a triangle and speculation focus on Stop Levels. Even though Upward movement is more probable since the market is moving upwards in general.
Nevertheless, it is expected to break around 9:00 - 10:00 EEST and the Stop...