Looking at the H4 chart, the price is approaching our sell entry area at 1.22874, which is an overlap resistance. If the price were to reverse, it could drop down to our take profit at 1.21940 which is slightly above the 38.2% Fibonacci retracement. Stopp loss is at 1.23352 which is an intermediate resistance.
Any opinions, news, research, analyses, prices, other...
Looking bullish on GBP-USD, As you can see both resistance and support both have been tested multiple times, indicating strong trend pattern. Add a little technical analysis with the upcoming news forecast on forex factory, and there you go. Still a beginner/student to the game, always looking for constructive criticism so feel free to comment, give a follow if...
This is not trading advice. I am being awaiting of 1.32 and 1.42 and 1.50 maybe. So, 1.1888 could be great enter point for a longterm trade. BUY BUY BUY if you see 1.188 or similar.
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't over leverage.
🔸 Other noteworthy Technicals/Fundies
::: TD9 /Combo update: N/A
::: Sentiment: BULLS
::: Sentiment outlook short-term: SHORT
Some rectangular bottoms have formed on the GBPCAD pair, i count 6 touches included wick ends on the first and looking for a 6th touch on the lower trendline on the second rectangular bottom.
Hello everyone who want to catch long term uptrend.
To look to chart could see two lower yellow rings and two higher, where could see something like two bottom startegy. GBPUSD is going uptren more than two week. In RSI green color show, when started to go up .
FX:GBPUSD
As can be seen price has broken out of the wedge formation. What usually happens now is a deep retracement back into the wedge and a spike back out continuing the upwards trend towards a re-test of previous highs.
The farms rolls tomorrow are historically the worst and this should give a perfect opportunity for bulls to carry price higher.
See below for a double...
