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Gbpusdbullish

GBPUSD - One more leg higher? 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 am simply looking at more bullish price action from sterling. Areas to watch for support are the red lines indicated on the graph. If the 61.8% retracement from previous highs can hold, that may act as the start of the trend continuation. 1.36157 will become a KEY area to watch as if price pulls back into these levels it will be clear if we are simply getting a pullback for price to continue the downtrend. I believe Friday's decline has provided a great opportunity to get LONG on cable and ride another wave back into the 1.37/38 levels and i will be keeping you all updated on this pair. My fav pair :) Good luck trading $
Long
by Ikeokeke25
GBPUSD - Potential Buy setup using convergence at 1.3200 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 but what can help strengthen this point is the liquidity gap that was created by price spiking higher on the 28th August (marked with a pink arrow). These 2 factors alone could have additional order flow resting at this level which could cause a reaction in price higher. Lastly, we can also see a descending diagonal trend line that could also meet at the same point if price starts to sell off currently, again increasing the probability of the level to react. If price gets to this level and goes straight through it then no action is needed and the trade is void, but if we can see a bounce occur here we will go down to our lower time frames and see if we can find any additional signals like a bullish price pattern or structure that could help in fine tuning a possible execution point. We will update this accordingly.
Long
by DavidVillagra
GBPUSD: Bullish Trade Idea to target 1.2850 GBPUSD bullish scenario is supported by the following factors: 1. It's moving perfectly in the ascending channel. 2. Hidden bullish divergence formed on MACD for the continuation upwards. 3. Break out of the most recent falling trend line within the bullish channel. 4. The next target of 1.2850 is derived from the confluence of Fibo Extn's on the prior impulsive moves. Enter your trades once the lower timeframes get aligned with the daily setup. GOOD LUCK FOR YOUR TRADES !!! PLEASE SHOW YOUR SUPPORT IF YOU LIKED THE IDEA
Long
by moneytize