GBP-USD is trading in a downtrend
Along the falling resistance line
Which makes me bearish biased
And the pair is about to retest the resistance at 1.13487
Thus, a pullback and a move down are expected
With the target of retesting the level below
The U.S. dollar plunged as the Pound sterling graduated to near one-week highs which appears to be a result of the intervention by the Bank of England and announcing emergency bond buying. Despite a solid bearish momentum which has characterized this market since the beginning of the year, I am of the opinion that we might be witnessing a temporary bullish...
GBPUSD 4H has grabbed liquidity from 4h20EMA after a spike to the upside, and at the same time, has broken the daily high and rejected. As long-term price action is bearish, it is highly likely that the price will respect the daily high and 20EMA and finally, the price will break down to continue its downtrend.
A sell setup from the area of value shown on the...
GBPUSD (4h) Has broken out of local support on the lower timeframe. As FOMC is coming, the price may pick up to the previous support turning resistance and we could see rejection as the long-term trend is bearish and the daily timeframe has printed a bearish engulfer.
On the retest of previous support as resistance and, upon rejection, a sell trade is high probable.
Price formed a recent resistance at 1.0873 & support at 1.0737 while also moving by creating higher lows into the resistance by following a shorter TF uptrendline. so if price makes a break & close above the resistance with these higher lows, then it could move all the way up to the next resistance at 1.1201.
However a breakout of the recent support at 1.0737...
Hi traders, Lets take a look at Sterling.
Sterling seems like breaking LL due to the
uprise in DXY after breaking 20 years resistance.
But here Sterling acted as an catalyst and moved
way more than expected. It's because of:
1) DXY strengthened by breaking 109 levels.
2) British finance minister Kwasi Kwarteng earlier
in the day laid out a plan...
Pound continue falls and price try to enter RBS area at monthly timeframe.This RBS area existed since 1985. Upcoming FOMC today will determine where USD will go. I marked 2 zone where it got potential to buy. Whoever wanna take risk feel free to buy when price entering the zone.
Watching zone: 1.12305
Extended zone: 1.05539
GBPUSD 4H has created bearish price action with a strong breakdown from daily head & shoulder. Price currently testing the neckline of daily head & shoulder and creating series of lower highs below this resistance level. It is highly likely that the price will continue to drop as the long-term trend is bearish.
Press the like button if you enjoy this content
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Press like button if you enjoy this content 😊