GBPUSD reached very close to the 1.32 level but pulled back very sharply during the NY trading session on Friday.
Looking at the daily chart, GBPUSD's rally looks overstretched at the moment. So, it's likely that we can see a deep pullback in GBPUSD over the next few days.
However, we need some more confirmation before selling this. Price is still above the...
Good day Traders, My analysis on cable remains strongly bullish. However, looking closing at the chart, you would observe that the pair has reacted to a previous weekly high as well as a level of resistance which is the portion shaded red.
I am expecting a short term bearishness in the form of a pullback and will be studying price action around key levels marked...
Hope you all have a fantastic day !
I would appreciate any likes and follows from this idea, that would encourage me to publish more ideas and analysis.
GBP/USD has been in strong uptrend in last couple of days, however last Friday showed us that price is losing it's momentum and now will head down.
Let us know what you think about this...
We have seen GBPUSD rally for 900 pips since the beginning of July. Exactly on the last day of July, a potenial shooting star candle occured. This could be a sign that GBPUSD rally is exhausted and some retracement could occur to this pair.
There is also a possibiliy a bearish ABCD pattern in play.
Sell position looks more promising if we look on...
On the GBP/USD comes an another oppotunity. Engulfing pattern on a daily chart, RSI is not overbought anymore, the nearest key level is far enough for a great Risk-Reward ratio. This idea is similar to the USD/CHF and the EUR/USD pair. If you want to trade the dollar strengthening on every chart, beware of cumulative risk!