If It is a crab then the price can plunge. But orders should be open when rsi closes below 70-80 levels.
Could we see this pair pulling back down to a monthly support / physiological level of 1.3600 ? Maybe the Pounds post Brexit highs are now running out of steam after this huge push, however with everything going on in the US with Trumps recent decisions could the Pound push higher to the 1.4000 region. Lets see where we open this evening as the daily...
Failed to break channel and is around strong weekly area which ended with a sell with a target to lower channel. Will be adding positions on every retracement I find convenient.
Looking at the level GBPUSD is currently at and with the daily time frame showing a tight closure on Friday bang on the trend line, we could see this pair begin to fall next week. Tuesday is a very busy day for the Pound with CPI due for release, let's see if it respects the trend or not.
The chart provided is a study in the simple use of trend lines to determine if the trend line established on this weekly chart in GBPUSD suggests that there is more downside eminent in the 'Cable'. As long as the trend line can hold price beneath the trend line the shorting opportunities are to be taken and long opportunities should be ignored. Your stop loss...
Watching the GBPUSD for a short trade at a key fibonacci level on the daily chart. Keep your lower timeframes alert for a short trigger which will confirm the move that will ensue. Lower prices for the pound as long as it stays below the 78.6% fib level
GBP/USD is setting up for a good trade opportunity soon. Watch for the 4-hour chart to break above the major resistance/zone to go long or break below the current up-trend to short. At the moment I am leaning towards it being a long but time will tell. FOLLOW ME and I will post a new G/U chart when it becomes more clear. LET ME KNOW WHAT YOU GUYS THINK ABOUT...
We currently have price action of 1.32141 sitting very tightly under a resistance of 1.32154 . After a strong show from the bears on Friday pushing the price down to 38.20 Fib level the bulls quickly recovered back up to the 1.32 area, closing Friday on another green candle to where we are now. I do believe the sentiment of the Pound is still long, with the...
Cable broke the bullish channel today, i am looking to short around 1.3219-43 for a target to 1.3106, Stop above 1.3292
After another test of the previous support level of 1.3163, GBP/USD still managed to break this mark and now the price continues falling down. It should be noted that the fall of the pair was rather sharp, but on small volume, so it is impossible to single out a specific new volume level. Despite this, this signal is a good bearish pointer. Moreover, there is a...
The pair fell down sharply yesterday and broke down the previous level of support. But then the move was stopped by the new volume level 1.3163 and the price started trading a little bit above this level. Given the abrupt fall and the absence of the significant reaction of the price to the support, we should consider the scenario of its breakdown and opening...
The GBPUSD had a strong weekly bearish close with the long black candle, but the daily candle had a long lower wick showing a possible bounce, but still strong downward momentum.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Morning outlook - GBP/USD surges by 124 pips amid BoE decision A decision of the Bank of England not to change the Official Bank Rate was expected to lead to sharp depreciation of the Pound. This assumption was based not only on historical market reaction on similar fundamental event but also technical analysis. Namely, on a daily chart prior to release...
Nice setup and good opportunity to short GBPUSD. Keep it simple ! Cheers :)
GBPUSD short now we have strong ressistance level price formed douple top sl 1.32300 tp 1.30294 thank for attantion and dont forget support me with likes if you agree with idea or write your opinion below
Morning outlook - GBP/USD reaches monthly R1 at 1.3208 Due to positive numbers that were revealed during a release on the UK Manufacturing Production, the Pound caught an upside momentum that helped it to reach the monthly R1 at 1.1320. However, this barrier appeared to be strong enough to prevent the further surge. Given that the southern direction...
Pending Long @ 1.29 Stop Loss @ 1.2840 Target @ 1.3060 RR Ratio @ 2.67 Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.