A follow-up video to the previous analysis on the GBPUSD where we scooped over 400 pips profit (see link below for reference purposes). The US dollar continues to plunge since the beginning of the year as fear of recession mounts. To further mount pressure on the Greenback is the data from the U.S. retail sales which fell by the most in a year in December and...
Technical Analysis Summary GBP/USD TREND ANALYSIS We have 1 Uptrend in green color (Long Term) We have 1 Downtrend in red color (Long Term) Be careful trends need to be modified when broken to the new peaks(Downtrend) and lows (Uptrend). FUTURE PREDICTIONS We have many resistance and support levels that I have mentioned above. I use thickness as an indicator of...
Despite a choppy situation for the GBPUSD where price action was caught with a range at 1.22500 and 1.21000, the Pound Sterling rose by 0.1% to close the week at 1.22250, and this is likely as a result of the data released earlier on Friday. At this point, I am of the opinion that the data from the macroeconomic events (Claimant Count Change & ILO Unemployment...
Gbpusd - Daily - Uptrend is over on this pair and the bear hook is nearly complete.. expect a sharp sell off in this pair in the coming weeks and months possibly down to parity as dollar resumes its rally.
This is a follow-up video to my previous analysis on the GBPUSD where we scooped over 400pips profit to start the year on a profitable note (see link below for reference purposes). The U.S. dollar started the year on a positive note, trading near a one-month high after healthy employment data pointed to a strong labor market ahead of the most anticipated...
The last year closed on a sour note for the British pound as hopes of a significant recovery during the last quarter diminished to close at the 1.21000 zone. In this video, we looked at the chart from a technical standpoint where we identified a simple structure within the 1.21000 and 1.20200 zone as price action transitioned into a reversal pattern on the 4H...
The British Pound slipped lower in the last 10 days, handing back some of the previous session’s gains hereby dropping by 3.4% to close last week's trading session below the 1.21500 key level. With a breakdown of the $1.21500 level last week, will the decline continue? Price action is currently at a critical point as it currently trading along the bullish...
Time Frame: 4H Symbol: GBPUSD Entry: 1.21157 TP: 1.19514 SL: 1.22292 Bias: Short The economic calendar today is focused on U.S. and EZ data with building permits set to push lower to its lowest level for 2022 and may provide cable with some upside momentum. With regards to the eurozone, consumer confidence is forecasted at improving from the November read...
Price took the Sellside liquidity then break the structure and then I entered buy on 1h FVG
We haven't looked into the GBPUSD pair since almost a month, but it largely confirmed our bullish outlook: As you see the price broke above both the 1.2285 August 01 High and the 1D MA200 (orange trend-line), which has turned it already into its short-term Support. As we pointed out last time, a Channel Up (green) was formed but as the new Higher High was...
Despite a strong bullish trait that started the month of November 2022, the Pound has a tendency to spark further weakness following an upbeat US NFP report on Friday as price action retest a strong selling niche at the $1.23000 zone. In this video, we looked at the chart from a technical perspective where much emphasis was laid on the selling pressure identified...
GBPUSD is trading in rising wedge pattern .currently it is trading near the resistance level . According to chart pattern analysis we might see down side in GBPUSD from current level towards support trendline 1 and later support trendline 2. Trade with stop loss and own capital risk management. vews/opinions are welcome to discuss.!
Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. 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.
The US Dollar still portray the tendency of heading for some gain in the new week as Federal Reserve pushed back on market expectations for an early end to the aggressive interest rate hikes to combat inflation. From a technical standpoint, the consolidation phase characterized majorly by selling pressure from the $1.19700 area during last week's trading session...
The GBPUSD pair has turned bullish long-term after it broke above the February 21 Lower Highs trend-line on November 10. It is close to the first target of this break-out, the 1D MA200 (orange trend-line). If it gets hit, we are only willing to re-buy again above the 1.2285 Resistance (August 01 High) and target the 1W MA200 (red trend-line) and June 01 2021 Lower...
The Pound appreciates to fresh new highs as price tested the $1.1800 area at the end of last week's trading session. Despite the UK Gross Domestic Product exhibiting a 0.2% contraction, the Pound was still able to rally approximately 5% growth in a week and this could be a result of the US CPI which slowed down to a 7.7% yearly rate in October - not too good...
The market of GBPUSD is giving us an opportunity to take buy position on it. Wait for the retest then take buy entry on it.
The breakdown of both the key level at 1.14000 level and the bullish trendline during the course of last week's trading session might be a sign that the sellers still have a say in this market. Though, the Pound rallies 1.9% on the last day to close the week near 1.1400, with this development I am of the opinion that we remain patient to see how the price will be...