GBPUSD is set for a buy. On the daily time frame, a bullish inverted head and shoulders pattern is being formed. The current price has broken the neckline of the pattern, retested it and is moving bullish. My Tp is set at 1.33840 because that's the highest price has reached.
analysis done, so here is trading theme
in my opinion we are into buy the dips theme for the coming weeks with 1.34 area as the first target.
in case the theme gathers momentum, we may print above 1.3730 still this year
We had significant breakout on the GBP, now is trending down a narrow channel. Monitor this trend, look for breaking out this range, but careful of any false breakout either up or down. I think if we move below 1.296 suspect will back down significantly. I though am hoping that can go long this one once we see significant movement north.
GBPUSD is set for a Buy. On the daily timeframe, a bullish inverted head & shoulders pattern is being formed. Current price has broken the neckline of the pattern, retested it and is moving bullish. I set my Tp at 1.33840 because that's the highest point price has been recently.
RECOVERING FROM THE PREVIOUS DECLINE WAS SEEMINGLY SLOW, WHICH CAN ALL BE ATTRIBUTED TO THE BRETIX ISSUE, BUT WITHT THE DECLINE OF THE DOLLAR, WE MIGHT BE SEEING THE POUND GAINING STREGNTH SLOWLY TO ACHIEVE A NEW HIGH FOR THE YEAR 2020.TRADE WITH CAUTION
Scenario 1: Confirmed break and retest of 1.30 will target 1.34
Scenario 2: A pullback toward and test of previous support at 1.2770-50 region before the next leg up. This will also create an inverted H&S formation on daily and a stronger push upto 1.34 region and beyond.
PRICE CAN POSSIBLY FORM A INVERSE H&S. PRICE WAS IN A RETRACEMENT AND TESTED A MAJOR AREA ITS POSSIBLE GU CAN CONTINUE ITS BULLISH RUN FROM HERE. IF PRICE DOES BREAK STRUCTURE TO THE UPSIDE ... THEN ITS A WRAP!
Ok so gbp was acting up today not gonna lie, but thats ok ,we gonna make our pips regardless.
My idea is more on the long side although i have a set up for either side; heres why: ]
- Had a massive push upwards this morning
- Price is being supported at the lower level i have marked
- Price has been stubborn to go down today, yet...
Currently, GBP/USD is trading at 1.2985. The pair is trading in a resistance and support channel from some time and now broke a small resistance level at 1.2939 to start a new uptrend. It has rebounded after touching the support level and started a new uptrend. Soon pair will touch the first resistance level at 1.3017 and if it breaks that level, then it can touch...
As We Took Sell Positions On Pound Doller And This Week We Looking For Long Positions. We Will Keep On Our Eyes On The Price Movement If It Forms Big Flag We Will Short It Accordingly But If It Stays The Way It's Now For Our Experience We Will Wait The fIrst Bullish Flag Then We Will Buy It.
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the assist at 1.2848 surviving being examined was a bullish signal, so I used to be ready to take a bullish bias right here right this moment if we acquired an hourly shut above the latest swing excessive at 1.2904.
This was an OK and barely worthwhile name, as on the time of writing, the value is about 12 pips increased than that entry value given after the...