Hello Traders, The pair has been trending towards the downside and broke past 25-50 moving averages, if a daily candlestick manages to close below the 200 moving average it is likely the trend will continue further downwards. Now, if this does not happen, you could potentially look for a buying opportunity just off the 200 moving average bounce, for a nice...
As I said in my past GbpUsd analysis, the pair could be in a large double top at this point with confirmation coming with a break under 1.37 I believe we will have this break and cable could drop 500 pips. Only the price back above 1.4 would change this bearish outlook
Unlike EurUsd, where is the possibility of a large H&S, on GbpUsd a double top could be in place, with a big distribution on the 1.4-1.42 range top. A confirmation for the pattern comes with a break under 1.37, and the target for swing traders is 1.32
We hit some good levels yesterday, setting us up for what could be a good directional move I see a not too shaby Asian range, I'll like to see a break to the low and catch a W of yesterdays lows (low of this week) or last weeks lows and then ride the beast up Updates to follow ...leave me comment to let me know your thoughts if any. Happy and safe trading
So today's play is shaping up, we have an Asian range Currently rejecting a key level just at the top of the range and I'm expecting a breakout to the low to stop hunt yesterdays lows and form a higher time frame W second leg I'll be looking for a clean and complete W in London to get into a BUY ...updates to follow (feel free to comment)
GBP/USD has been benefiting from PM Johnson's reopening announcement last day. Prime Minister Boris Johnson's message when announcing that "Freedom Day" will arrive on July 19. England will ditch hundreds of COVID-19-related restrictions and reopen its economy in what has also been dubbed the "Big Bang." Sterling has cheered in response. “England will ditch...
So we had a clear W last week and feasted on the buys Technical in an uptrend move with the first V coming With a tall Asian range which I'm not excited about, we could see a break to the upside and get an M at last week's high The play will be to sell back into the Asian range (if we get an M at High of last week during London, else buy the W at the lows)...
US employment data triggers correction of the dollar. But down for the week. In Technically GU create hidden Bearish Divergence! So Correction required. And ultimately its gonna 1.3696x
The short therm trend for GbpUsd is down and a break under support could lead to further losses towards 1.3670 support
When you zoom in on the hourly chat you can see that the pair is constantly forming lower swing highs on a resistance level. Target projected to the -27.2 fib level.
Cable is retesting the 1.3960 resistance area with the key pivots up at 1.3980 and 1.40 level. I would therefore look to sell GBPUSD around the 1.13980 level and would add another sell around the 1.40 level and stop both clips around the 1.4027 (61.8%) fibbo resistance lvl . I remain a dollar bull and therefore continue to sell the rallies in this pair. GBPUSD...
GBPUSD and sell area Detail in chart. RR 1:2,5 Disc. On
Price has just tested daily resistance with a nice double top formation on the 15 minute timeframe; together with a bearish engulfing. Price projects into the -27.2 fib level which is 1.3750. Monitoring the trade during london session.
GBPUSD has broken the 1.40 upward trend line, the 1.40 pivot level as well as the 1.3959 fibbo support and continues to look heavy. Dollar is strong post the recent FOMC meeting and we see no sign of this slowing anytime soon. I would therefore look to sell GBPUSD around the 1.13960 level and would add another sell around the 1.40 level and stop both clips around...
As pound is in a sell term trend, it seems to be going for a correction but as far as the volume is concerned, volume don't want it to move upwords. Hence, i am going for a short here.