Long-term uptrend. Cup handle formation followed up by break of structure (BOS). Imbalance above to be filled. Awaiting for the price to test the broken level before continuing to get into a position with better RR.
GBP/$ has provided lots of trading opportunities over the last few weeks with it's very large range bound moves. Over the last week, sterling made another strong and undisrupted move back into 1.37. This ended in the 'double-top' structure formation which consequently ended on Friday in a plunge (-0.79%) drop back into the highs of 1.35.
Entering this week, i...
Here we look at buying the GBP/USD exchange rate as the market prices in the expectation of a Brexit deal over the coming week.
We look at entry price strategies and one-month volatility stop-loss area's.
Gbpusd has been gaining momentum clearing some key resistance levels. The support for gbpusd has been very strong. I'm looking at a continuation pattern on the hour 1 time frame. Major break and retest at (1.31500) ending NFP bullish.
Taking a look at the price action on GBPUSD we can see a potential level of support set up for a possible move higher at around the 1.3200 big figure.
As you can see from the 1 Hour chart, we have a possible convergence of factors that could increase the probability for a move higher.
The 1.3200 level being a big figure level in general is psychological level...