Potential sell trade coming up waiting for confirmation from smart money. In a few hours the governor of the Bank Of England will speak. This is expected to cause increase volatility in the pound.
FX_IDC:GBPUSD
A possible 100 pips+ GBP/USD bearish move. Risk:Reward ratio of 1:3.
First target is 1.2305 and the second one is 1.2205 depending on how things turn out.
Always make your own analysis before investing.
In April 4, 2017,we found a "Crab" bearish pattern on the four hour chart to determine the downward trend signal.
At the same time,the price line is under its moving average(April 3,2017 ), the signal further show that price has formed a new downward trend
Fibonacci Retracement support and resistance line placed.Also a horizontal trend line stating previous support line from the other trading has been placed and the bears broke through which the trend will decline further till its fibonacci channel support line and then there's Potential long opportunity if trend does not break through or wait for a confirmation.
The GBPUSD continues to defy the odds. While other currencies such as the Euro and Australian dollar have weakened against the greenback of late, the British pound has remained firm.
I reviewed the pair over the weekend and pointed out the March 29th retest of new support at 1.2410. This was the intersection of former channel resistance and a horizontal level...
GBPUSD Looking to long near the support region around 1.2405 (Role Reversal & S&D) with a stop around 1.2310 region and targeting 1.2720 region.
However, if the market could go lower than my 1.2300 support region, MT bullish will negated and I will look for ST short instead.
Sell below 1.2531. Stop loss at 1.2621. Take profit at 1.2378.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.2531 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance, descending resistance) and we expect to see a reaction from this level for a further drop to at least 1.2378 support (Fibonacci...
HI guys! my idea is If the news release and pound regain strength GBP/USd could shoot up to an initial high of 1.2790. This was the first post brexit low and the Resistance awaits at 1.2850
IF the scenario turn upside down, GBP/Usd could fall sharply 1.2415 the initial support and followed by 1.2360, 1.2250 and 1.20.
Please trade carefully while trading using...
and we will take that guys!
Well done to all those holding longs, not been a simple ride given the panic leg we have been experiencing.
Risk to my thesis is a very noisy week on the UK front, lets keep the conversation open here for all those trading this pair and discuss the macro side as well as TA.. it's very difficult to have conversations in the chat now...
The GBPUSD has broken the confluence of resistance at 1.2410/20 on an intraday basis. We discussed this area over the weekend as one that could give way to higher prices if broken.
I also mentioned last week’s bullish engulfing candle, which is the reason I ignored yesterday’s bearish rejection from the 1.2410 handle. It’s a good thing I did as the trade would...
GBPUSD at a good PRZ, looking at the daily we have the 100 daily MA, we have old strong support that should now act as resistance, we have the 4H 200 MA, the down TL and the 61,8 fibo all at the same level, which give us a reason to look for a possible bounce down here.
Last week saw the GBPUSD gain nearly 300 pips from Tuesday’s low at 1.2108. However, the pair finished Friday’s session just below key resistance in the 1.2400 region.
This area has acted as a pivot since November 22nd and will likely attract sellers in the coming week.
With that said, buyers managed to carve out a weekly bullish engulfing candle. This alone...
5th wave could go right to the 1.27
I believe that 5th wave is usually weaker at the end of the trend so TP1 is at 1, then move stops to 618 and TP2 at 1.27
