Hello traders, GBP/USD is trading at 1.3942. The price is trading in upward resistance and support channel and moving towards resistance level. If the price rebounds back from resistance level then it can possibly touch its support level. So, the entry price for short will be 1.3966, if the price rebounds from resistance level and its target will be at...
GBPUSD is breaking below the trendline on hourly charts, On technical analysis ground it showing the weakness after a great run up, It can be a exhaustion after a good pull back so losing strength and momentum at this point of time so the weakness will not continue for a longer time and after taking a support it will get ready for the next run up in uptrend.
We see the formation of a harmonic shark and butterfly pattern on the 1 hr chart. Both of these harmonic patterns are bullish indicators. Therefore, our strategy is to trade and target the 4th legs of these formations. FX:GBPUSD
GBP/USD Long Idea (5/8/19) Daily Chart
- Price just rejected off of the short term 61.8% fib level and the long term 38.20% fib level. Price had a hard rejection of on the 1.30000 Monthly
- Looking for price to continue up to the Micro level at 1.32500 which is near the -27.00% fib level.
(4HR Markup Linked Below)
A major retracement is about to coincide with a major time extension level; simple squaring of time and price. Expect volatility to cause swings before resumption of upward trend. Combine with RSI and measure trendline divergences to determine entry and exit timing.
PAIR CURRENCY: GBPUSD DIRECTION PREDICTED: DOWNTREND GBPUSD has been predicted for a downtrend.
After analysing bollinger bands and moving averages, I came to the conclusion to put a resistance level for gbp/usd at 1.2800.
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Saw this nice advanced M formation on the H1 with all the necessary confirmation.
Entered on a 1:1 RR (not really ideal but hey...) with 1% at risk.
Once price closes ABOVE 13EMA we take a scratch and kill the trade.
Happy trading :)
GBPUSD have been trading in a bearish channel, short term momentum is shifting so i am expecting for it to test the top of the channel and there I will reasses if worth to hold the long positions. For now, look for buys if you have your trading strategy.
GBP/USD tests 50% Fibo at 1.3485
In essence, the past 24 hour the cable spent testing different support levels. In first hours of this trading session, it bypassed the weekly S1 and now is trying to pave the path through another support area located between the 1.3497 and 1.3491 marks. Despite an active pressure, these attempts most probably will fail because of...
GBP/USD drops below weekly PP
As most of the American macroeconomic data released on Friday did not justify expectations, the cable ended the week in a green zone. Nevertheless, in the early hours of this trading session it started with an active plunge, slipping through the updated weekly PP, the 55- and 100-hour SMAs. An existence of two ascending channels...