We could be looking at a retest of the trend-line on this pair, but I do believe it has the potential to fall further to the 1.24000 area. Especially after the drop the US Dollar took last week, it is due some buying control back which may push this pair down further.
Price broke out from a Descending triangle as seen & retested resistance. It already made an HH on the H1 timeframe and I believe its setting up for the double buttom where it'll fall right on the 61.80% level to continue upwards into a 5 wave pattern.
After the bad news around BREXIT last week we saw a big drop for GBP/USD. It already dropped to the lowest point since April 2017. If GBP doesn't get good news and doesn't break the Resistance level of 1.27000 we could fall even further to the Support level of 1.23800. Goodluck trading and let's see how this Pair develops this month.
As my own point of view, I not sure, market can do anything right? but I'm looking forward on buying the market at 1.27 and I've plotted 1.28 level as watch level as it could come as resistance or support as the market will goes up. not to say it worse or crazy idea, but level 1.20 is the last support level to watch as the market at it lowest on 15th Jan 2017 .
A descanding triangle is forming right now, I'm waiting for the breakout which will most likely happen this week or begin next week. Goodluck trading and follow me for more analysis!
Respected followers, GBPUSD is testing its Double Bottom which indicate strong bullishness on Daily chart.
GBPUSD has dropped today. expecting it to move higher SOON See previous analysis SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
GBPUSD LOOKING GREAT ONCE BREAKS TOP LONG IT AGAIN
GBPUSD is consolidating downwards within the channel should it break the channel then we will see the continuation of the uptrend. SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
Possible selling opportunity after this retracement ends
GBPUSD has dropped today. expecting it to move higher in the next 20hrs See previous analysis SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
We Are Seeing A Nice Sell Opportunity Will All This GBP Pairs This One (GBPUSD) Included. Preferably, Look For Sell SetUps & Then Enter. This Can Also Act As An Entry Point JuSt Make Sure You ManAge The Trade With A Good SL (nOT tO tIGHT) Preferably 1.290 Levels
GBPUSD has retraced to Fibonacci retracement level of 0.382 (1.2477). I am now expecting this to move up to test the previous high in the coming days Also Stoch RSI in a downward trajectory which would support a quick sell before the move back up continues See previous analysis SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
GbpUsd - H4 - After fomc I saw dollar index creating new demand which I anticipated to be retested next week. I see all major currencies creating new supply zones for us to sell from. This pair is also trading below a weekly resistance and for next week I see a good pending sell setup to sell this pair down to 1.28 and possibly down to 1.25 in the coming weeks.
this is moving nicely expecting to hit the top and bounce back down SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
Expecting a turn around because we have reached a major support and the pair is oversold in 1 and 4hrs including daily. IF we manage to break 1.26, we might got as low as 1.24 and turn there, it all depends on much steam DXY has. DXY has also hit a major resistance and its overbought in my time frames.
Neutral as of now! - Like shorts at the 200 day moving average resistance (acted as resistance last two runs) - Watching RSI diagonal trend SHORT TARGETS: - 1.267 - 1.199 Will watch over the next week!
BEEN A GOOD WEEK FOR US. WATCH OUT FOR THIS SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE