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Gpbusd

GBP Analysis - Part 1Trying to make sense of this rollercoaster that is the british pound. The vertical fibonacci is indicating some clear trendlines, and the sine lines are to represent the psycological macro energy influencing the price. The horizontal fibonacci is used to measure periods of bullishness, volitility, and consolidation. In part 2 I will extend the horizontal fibonacci so that we can make preditions about the upcoming market behavoir. Disclaimers, not intended to be financial advice, not an expert, mainly trade and chart cryptocurrencies. Biffy
by Biffy
GBPUSD approaching resistance, potential drop! GBPUSD is approaching our first resistance at 1.3074 (horizontal overlap resistance, 100% Fibonacci extension, 38.2%, 50% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1.2904 (horizontal swing low support, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
Short
by Tickmill
1
GBPUSD approaching resistance, potential drop! GBPUSD is approaching our first resistance at 1.4279 (horizontal swing high resistance, 61.8% Fibonacci extension). A strong reaction might occur below this level, pushing price down to our major support at 1.4092 (horizontal overlap support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic (89,5,3) is also approaching our major resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by easyMarkets
GBPUSD approaching resistance, potential drop!GBPUSD is approaching our first resistance at 1.4097 (horizontal swing high resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension). A strong reaction might occur at this level, pushing price down to our major support at 1.4013 (horizontal swing low support, 100% Fibonacci extension, 50% Fibonacci retracement). RSI (55) is also testing its major descending resistance line and a reaction off this level might be a good precursor of a potential drop in price. Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
Short
by easyMarkets