We are keeping our eye on GBPCAD as the price is at a major demand zone. GBP was one of the strongest currencies
last week and CAD the weakest despite being one of the best performers against the USD. That being said
price formed a bullish engulfing candle off the major demand zone where we could see the price rise into the key structure of
1.6994 before moving higher.
The British pound has rallied during the trading session on Monday but gave back a bit of the gains at the 1.28 level early on Monday. This is an area that you can see has offered resistance in the past, so the question now is whether or not we will roll over?
Even though there is a potential bottom to the downtrend at the 1.25 level underneath, pulling back at...
The technical cross-section**:
A strength of trend: 4
The priority area of transactions: buying
The purchase in the area of 1,1340 with a stop below 1,1300 and a profit in area 1,1460.
Selling in the area of 1,1460 with a stop above 1,1490 and a profit in the area of 1,1360.
Under that heading we publish signals of the indicator called “Ranger”. It was developed by our experts for intraday trading purposes.
This indicator is based on statistical analysis of the data and provides information about possible maximum/minimum values of the day (just right after the day has started) with certain probabilities.
What does this information...
Looks like the week begins with a stoploss hunt on the GBP/USD pair. I've set 2 targets. Depending on how the price develops around Target 1, I will decide whether I will end up with Target 2 in the second half of my position.
Have a great day, and keep the losses away!
GBPUSD has been on an uptrend after hitting 6 month low demand zone, partly due to USD weakness after FOMC statements.
Upside was limited and resisted twice at supply zone before finally breaking though, after which was followed by a retracement back down into demand zone.
Expecting to see some consolidations in the key area before further upside movement.
The British pound is gaining ground against the greenback Monday after the US dollar index suffered heavy losses on Friday. A sustained move above the 1.2770 resistance level could spark a breakout in the GBPUSD pair towards at least the 1.2840 level. If sellers fail around this key area a decline and technical test back towards the 1.2710 level should be...
The Tidal Shift Strategy has just bought GBPUSD at 1.2745. The system recommends entering this trade at any price between 1.2725 and 1.2765. The signal was issued because our Speculative Sentiment Index has hit its most extreme negative level for the past 145 trading hours at 2.42501, which suggests that the GBPUSD could be trending upwards.The 14-period Average...
welcome to another free signal!
Important: Wait for the retracement down to entry!
Target 1: 1,28510
Target 2: 1,29270
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Peace and good trades
GBPUSD is approaching its resistance at 1.27631 where it is could reverse down to its support at 1.26590.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
GBP/USD testing resistance level
Since last Friday, GBP/USD moved down by around 55pips before moving back up by around 105pips.
Recently, GBP/USD has been trending upwards.
GBP/USD is testing the resistance level of 1.27400.
Current Price: 1.27512
Next Resistance: 1.27400
Next Support: 1.26000