Confirmations 1. Divergence on lower timeframes 2. We have approached a key level of resistance and price had failed to break through 3. When price reached this level previously it fell to the highlighed level of support 4. DXY is going up Already entered last week and price retraced back towards the top, im holding this position and I have added another one in
As stated in a previous idea price took a bit of a dive but once price hit the daily level it retraced back to the top to test resistance. I expect price to break this level and fall to the bottom again! Im still holding my initial sell GBPUSD - SELL SL - 1.27003 TP - 1.23571
Price has now reached a previous level where it took a big fall, im currently in the sell but i will wait for price to break what is now support before adding another one in GBPUSD - SELL SL - 1.26993 TP - 1.22907
Hello Traders, Quick update regarding Cable (GBPUSD). This pair is now approaching 1.26 critical resistance zone. A decent shorting opportunity might present itself. Personally I would keep a close eye on this pair especially since Gold is reaching the highest level since 2012. Cheers!
Looking to short GU to complete a prominent M pattern. Will also be looking for overbought conditions as well as an Alligator crossover to confirm a short bias.
GBPUSD is waiting for reversal now. It will go for a short sell aftermarket open and buy for long from the bottom.
The counter is currently in a descending channel formation. It is currently forming a bearish flag formation. We expect the pair to make a bearish breakdown and head lower from here.
Looking for a potential GU SELL, targeting TP AREAS. (30+ PIPS) Looking to bank 150 PIPS if market holds bearish momentum Trade Safe Entry Criteria - Strictly looking to execute entry on price action, reversal candle, exhaustion candle - If price breaks through sell area 1 with bullish momentum, look to take sell in sell area 2 (Price Action etc) - Apply...
This is what i expect the GBPUSD pair to do this week, Price will break above support only to drop straight back down again
Sell Limit SL at 1.25700 TP1 at 1.24760 (RR 1:1) TP Piv at 1.23240
Heavy Confluence Area 1. Retest of broken H&S support 2. Creating possible Lower high for 3rd drop 3. Still respecting trendline as of now 4. At the 50% (high PRZ) WAIT FOR REJECTION IN THE AREA OF GOLDEN BOX FOR A POSSIBLE SHORT.
After the initial retracement today I expect to see this pair reverse and continue the downtrend, I will await confirmation of this before entry We are looking for rejection around the resistance level which is marked on the chart and then a drop-down to the green area
- Initial bias stays on the downside to test 1.2065 support. A decisive break of 1.2065 support will confirm and target a re-test on 1.1409 low. On the upside, a break of 1.2587 minor resistance will turn bias back to the upside.