The counter is forming a descending triangle at the high. It made a fake-out at the resistive trendline and then sold off only to form a bearish flag pattern in the near-term. We expect the bearish flag to break down and the price to move to the short-term support zone.
Wait for an rejection or wick in this area then wait for that rejection to close, then take the trade or place a BUY limit.
GBPUSD London Daybreak Trade Idea Buy Stop : 1.30563 S/L : 1.30351 T/P : 1.31063 Sell Stop : 1.30290 S/L : 1.30502 T/P : 1.29790
when we look at GBP/USD on the weekly chart, we can see that it is on a pretty strong structure, and certainly without any retest, so our tip for this pair is definitely short.
Hi Traders! It has been a while I posted here. I caught a bug around June so I had to take a break to get proper treatment and heal myself. Remember guys! Your health is your greatest wealth. The market is going nowhere, it will always be there as long as the human race continues to exist. Trading has to deal with mental and psychological wellbeing. When you're...
GBPUSD, I'm currently seeing price pushing back up above support so my 1st target of 29 pips is at a M15 LH.
GBPUSD London Daybreak Trade Idea gbpusd Buy Stop : 1.30921 S/L : 1.30571 T/P : 1.31421 Sell Stop : 1.30508 S/L : 1.30858 T/P : 1.30008
Hello traders, this is my analysis for a long setup on cable. I'm expecting a strong bullish move from GBPUSD this week to continue with the higher time frame direction. Ideally I'd like to enter at the weekly closing price but if not I'll place an order @ 1.3078 R/R - 5.79 Any questions please comment below and follow for more trading ideas.
OUTLOOK: BEARISH BRITISH POUND GROANS ON PROLONGED BREXIT NEGOTIATIONS
GBPUSD reversed from the 1.3175 level. I wrote about the possibility of such a pullback in my previous GBPUSD ideas. However, at the point, it is important to figure out if this is a reversal or just a small correction. 1.2980 is a support level. So, only a break of this level will imply that the uptrend is broken. As long as price stays above the 1.2980...
sell gbpusd 1.310x-1.311x SL 1.316x TP 1.30300 TP2 1.29500
We can see based on previous price action that once the red area has been broken price falls to the support level highlighted at the bottom of the chart Price has broken its daily trend line and came up for a retest We are looking for a BEARISH candle to break the support zone so we can take a short position On the 4hr TF and the daily TF, we can see divergence...
Wait for an rejection or wick in this area then wait for that rejection to close, then take the trade or place a sell limit.
In my previous #GBPUSD idea, I told you to buy at the 1.3030 level and target the 1.3150 level( idea link attached below). As you can see, price reached the 1.3150 level yesterday. However, GBPUSD pulled back from that level possibly creating a Double top formation. If #GBP/USD stays under the resistance level that I have marked in my chart, it is possible...
Basic short from previous SR continuing with bearish correction. R/R 4.64 Follow for more setups.
GBPUSD has managed to stay above the crucial 100H EMA, which implies that the uptrend is still intact. The dip may be considered as a temporary pullback. The area I have highlighted in my chart could be a possible buying area for targets of 1.3150 and 1.3200. The overall market structure is still bullish and I will be looking to buy between 1.3030-1.3060...
GBPUSD bounced off 1.30549 where it could potentially rise further to 1.31652. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.