GBPUSD is approaching a resistance level that has been tested multiple times before.
Price action is moving in the channel.
We expect some pullback from that level since the market has made lower highs and lower lows.
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11th August daily inside bar, did make new high or low, range confined within the previous bar range. 12th August insurance bar further indication for weakness ahead. 1.1970-60 preliminary support area suspect price bounce from there. Need patience for this support break. Stop loss 1.2160, target 1.1840.
Time Frame: 4H
Symbol: GBPUSD
Entry: 1.20702
TP: 1.22146
SL: 1.19671
Bias: Long
We are to go for a long trade by taking the current pattern into consideration . The overall trend pattern suggests a bullish bias.
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We are going to discuss about FX:GBPUSD
We can see a market break its strong support in...
Here is my view for GBPUSD on H1. The price could go down, you can put a pending order on the Order block or find an entry on LTF within OB Zone. Trade Safe!
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.
In my previous GbpUsd analysis I draw attention to a falling wedge pattern and the possibility of an up break.
The pair indeed broke the resistance of the pattern and we had the first leg up. GbpUsd corrected after and confirmed 1.2 as strong support.
Yesterday is marked by a strong bullish engulfing and this could be the signal for further gains to come.
I'm...
gbpusd is trading bearish trend. In the next few hours, the price will broke this zone maybe short term is change to bull. My guess is 1.26000 is possible target. / don't forget wait for break zone/ don't be greedy !!! Managing risk is always important for the forex
GBPUSD today has a downward correction to the 1.207 - 1.204 area before having a rebound to the 1.217 - 1.224 resistance area.
Conclusion: Sell 1.212
SL 1.2155
TP1: 1.207
TP2: 1.204
as per my Technical analysis FX:GBPUSD I can see great buying opportunity in this pair
I have marked the areas and will get into the trade once I will get the confirmation
* This is not any Financial Advice *
SELL @ 1.22500
Sl @ 1.23100
Tp @ 1.19000
Price didn't push up last week to reach our entry but has reached our TP level and pushed back up since (check related ideas section below). We are seeing rejections off the parallel channel, expecting further weakness as we should see DXY strength soon which should help push this down. We do have an important GBP event...
Trend: The overall trend is downwards.
Candle Sticks: Formation of Tweezer Top at the new LH.
Fib: Price has retraced the 0.6 level from the last rally.
TP: Near the support
On my 21 of July GbpUsd analysis, I said that the pair can rise to the 1.24 zone , drawing attention to the falling wedge formation.
Indeed, the pair broke above the falling trend line resistance just under 1.23 and reversed.
The long-term trend is bearish and the rise from the recent 1.1750 bottom is corrective in nature.
Yesterday's reversal can be the first...
