GBP/USD reaches two month maximum at 1.3550 As it appears from hourly chart, the 1.3550 mark signified the two month maximum that the cable could not surpass. In result of a rebound, a new junior descending channel has been formed. The pattern is expected to stay in force at least until the rate will reach support set up by the 100-hour SMA and the weekly PP...
GBPUSD the pair early gain yesterday after reports surfaced that an initial Brexit deal between the UK and EU was close to being reached but it reversed course after this confirmation that no deal had been reached yet. The losses may be limited for the time being, however, as both May and Juncker were optimistic that an impending agreement was still likely.As...
OP: 1.33869 SL: 1.33230 TP: 1.36989 R-R ratio: 5.07
Pending Long @ 1.3100 Stop Loss @ 1.3030 Target @ 1.3350 RR Ratio @ 3.57 Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
GBP/USD jumps by 1.1% amid progress in UK and EU talks As it was warned yesterday, publication of encouraging news from the United States one after another led to notable appreciation of the buck whose surge was stopped only is support zone located around the weekly S1 at 1.3231. Since the rebound was based on reports that Britain has finally managed to reach a...
Price has gained more strength over the past few days and it looks like bulls have finally taken over. Long Set Up is pending after the pull back. Remember the market moves in a series of Pushes and Exhaustions. We are going to see a Exhaustion before further upside movement. Risk No more than 2% Lets see how this ones goes.
Sell below 1.3452. Stop loss at 1.3529. Take profit at 1.3229. Reason for the trading strategy (technically): Price is now testing major resistance at 1.3452 (Fibonacci retracement, horizontal overlap resistance, bearish divergence) and we expect a corrective drop from here to at least 1.3229 support (Fibonacci retracement, horizontal overlap...
GBP/USD surges to 1.3360 but then retreats On hourly chart the British Pound is continuing to gain value against the Dollar in a two-week long ascending channel. Generally, the cable is projected to continue heading to the top in the above pattern using support continuously provided by the rising 55- and 100-hour SMAs. The ultimate goal is located near the...
GBP/USD is setting up for a good trade opportunity soon. Watch for the 4-hour chart to break above the major resistance/zone to go long or break below the current up-trend to short. At the moment I am leaning towards it being a long but time will tell. FOLLOW ME and I will post a new G/U chart when it becomes more clear. LET ME KNOW WHAT YOU GUYS THINK ABOUT...
GBUSD has entered perfectly into a zone I believe to be crucial in whether the bears will take over from here, as you can see from past turning points this area has shown a strong demand from the sellers. Interesting to see where this heads. RSI and Stochastic also showing a nice respective move of the trendline, so I think it could head in either direction....
GBP/USD trades at crossroad of two channels On Friday, after reaching the 1.3250 mark the cable made a sharp turnaround and slipped back to the 1.3180 level. From fundamental point of view, this movement matched with release of better than expected American housing data. But from technical perspective it signified a rebound from an intersection of upper...
The Brexit move down was quick and sudden, i expect the contrary move to be swift as well. Now this is a weekly chart so it will take many weeks before we will arrive at the 1.4500, but don't be surprised if there is some kind af trigger that will shoot price up relatively fast.
We currently have price action of 1.32141 sitting very tightly under a resistance of 1.32154 . After a strong show from the bears on Friday pushing the price down to 38.20 Fib level the bulls quickly recovered back up to the 1.32 area, closing Friday on another green candle to where we are now. I do believe the sentiment of the Pound is still long, with the...
GBP/USD ready for another attempt to jump to 1.3230 As release of British employment and earnings data, generally, was perceived positively, the Pound expectedly climbed to the 1.3200 level. Nevertheless, a subsequent release of the American retail sales and inflation data neutralized this achievement by returning the pair back to combined support area formed by...
GBP/USD spikes to 1.3230 but then drops A release of better than expected growth rate of the UK Manufacturing Production created an upside momentum that enabled the pair to return back to the 1.3228 level. However, then fears of growing political risk in Britain and Trump’s participation in the ASEAN summit strengthen the buck and dragged the exchange rate to...
GBP/USD forms ascending triangle pattern During the previous trading session the currency rate expectedly returned back to the 1.3110 mark, which represents location of the 23.6% Fibonacci retracement level. As this barrier was additionally backed up by the 55-hour SMAs, it made a rebound. However, the fact that the cable failed to climb above the 50%...
GBP/USD stuck at monthly S1 at 1.3073 Initially, the Pound tried to restore some and even used a momentum provided by release of better than expected UK Services PMI to climb to the 1.3107 mark. However, the subsequent release of positive American data neutralized this attempt and returned the pair back to the monthly S1 at 1.3073. Unless traders receive some...
Our preference: long positions above 1.3100 with targets at 1.3190 & 1.3225 in extension. Alternative scenario: below 1.3100 look for further downside with 1.3080 & 1.3040 as targets. Comment: the RSI is supported by a bullish trend line.