Markets have begun to decelerate in motion as the end of year draws nearer and investors are taking profits and retiring for the year. So this setup might that some time to play out.
Price is in a 4 hour pennant. A break out to any side would let us know where price is headed. However if if breaks to the upside, this could be how it would play out.
A break below...
Today, European President Draghi was due to testify about the economy and monetary policy before the European Parliament Economic and Monetary Affairs Committee, in Brussels. To sum up what he said in his speech, he clearly stated that the European economy is stabilizing from its draw-down in the 2007-2008 financial crisis. This is why we have been seeing the...
GBPUSD is consolidating downwards within the channel
should it break the channel then we will see the continuation
of the uptrend.
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Hi guys !
To be honest GBPUSD is the worst trading plan for these days. With Brexit news, all analysis can be false... I'm sharing this one if nothing happened as the past week.
Currently, GBPUSD is rejected at the first Fibonacci level (0.786). If the price is break or is there is a big news (in favor of Brexit), the price could reach 1.295 - 1.3005.
Otherwise,...
GBPUSD is approaching our first resistance at 1.2834 (horizontal overlap resistance, 61.8% Fibonacci extension, 23.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 0.1.2701 (horizontal swing low support, 100% Fibonacci extension).
RSI (34) is also approaching resistance and Ichimoku cloud is...
