Hello friends as i can see this pair has reached to a strong resistance level on Weekly based charts
and on Friday it had rejected this level and close under this resistance as we predict in our previous analysis
so we are going to this pair with a small risk and looking for higher rewards
Friends Push likes and comments it can support idea which will help to...
Key Levels to watch on GBP USD this coming week. Follow us for more weekly predictions and forecasts.
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GBPUSD has all the perfect reasons to make a sharp move down. From here I will look only for short entry setups on a smaller time frame and ignore any move up.
SELL from 1.2810 with SL 1.2900 and TP 1.2700, 1.2600
The counter has broken its immediate trendline.
Further, it made a head and shoulder pattern and broke down from the neckline.
Hence, we expect the pair to be bearish in the near-term.
watch what happens on this key area (blue box).
1. price will easily break this key level and retest (this time as resistance). if so, look for valid short entries during the pullback.
2. price will bounce on this area and retest that neckline (yellow box) again.
either way, manage ur risks and set ur stop loss!
The advance from September 2019 low can be seen as a five-wave Elliot Wave impulse structure, labeled 1-2-3-4-5. According to the theory, a three-wave correction follows every impulse pattern.
In GBPUSD's case, the decline from wave 1 high in December 2019 has been unfolding as a three-wave A-B-C zigzag pattern. Wave A and B of the correction are sharp moves...
GBPUSD - my bias is still bullish on this pair. If bulls managed to close above the 1.3000 level, I'll be looking to go long here. If the price closes below that level, I'll wait for next
Theresa May is expected to give unusual statements in today's session, some suggesting it may be linked to National Security. The immediate reaction was GBP weakness to the news, Manufacturing data countered.
Based on the 30min chart GBPUSD has found some support. However, it has attracted some buyers, we suspected stops are being accumulated around the green...
I think GBPUSD has not completed the bearish move yet. The current bullish intraday move still looks corrective to me. I see the formation of an expanding triangle pattern. Triangles often precede the last leg of a bigger wave pattern. Thus, I have labelled the triangle as a possible wave (iv) of the impulse wave.
The upper connecting trendline of this triangle...
Current sell on GBP
Sean Vengan
Professional Trader and Trading Educator
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1. If you don't agree with my views or analysis then it's very simple, FOLLOW SOMEONE ELSE
2. I am not here to give you financial advice and if you take a trade it is your full responsibility, not mine.
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This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
GBPUSD
Downtrend as shown in weekly and daily chart.
Price testing blue downtrend resistance line and also tested the 61.8% Fibonacci retracement level, more potential downside ahead. Initiate short when orange support level breaks.
Possible trade:
Entry price: 1.23956
Stop Loss: 1.25000
TP 1: 1.22268
TP 2: 1.21181
Cheers!
Note and Remember this idea is technical not fundamentally ,
According to Techincal , It`s down move 3000 pips and make flag pattern and then it`s down 3000 pips also reached and now flag pattern complete , Now time gbp going up ,,,,,
