GBP/USD is very close to falling out of a 5 month ascending channel as it did this time in 2018 this could be a multi month down move
if it can break cleanly. Also to note is the rejection / breakout spike at 1.42 adding liquidity to the move and recent USD strength.
Failing a breakdown it might try again for the top of channel or double top. Plenty of targets on...
Hi friends. Lets look at GBPUSD chart window. we have a picture when big part of investors are scared... they dont trust its long. And at any downward part they close they longs.. exchange bought it. So my opinion strong long to 1.3783 and upper. Also this tendention its actual if we include in analysis previous situation when exchange purchase big volume of GBP....
Now the market is in the middle of an up channel. I think GBPUSD will go down to the 200 Ema or the bottom of the channel. After reaching one of the two mentioned levels, it will start to grow.
Our future target is: 1.350
After a fantastic trade set-up for GBP/USD on my previous idea where we saw that indeed the confluence between the support zone and the trendline caused the price to go up, we are now at a difficult situation.
If you were long already a great place to exit could be directly underneath the horizontal resistance. However, if you're not in the trade at the moment...
COVID-19 Confirmed cases for the USA, Great Britain, Germany, and China...
Clearly the Western (world) major economies are having trouble handling the COVID-19 pandemic.
Germany appears to be the most parabolic, then Great Britain is similar although not as steep.
USA is not far off in the speed of spread.
Opposing to that, China has been doing well, and numbers...
In this idea on GBP/USD we find confluence of two major chart patterns. A supporting trend line and a horizontal support zone.
In trading, the presence of confluence refers to a circumstance where multiple technical analysis factors collectively form the same indication. Since multiple factors are combined, confluence has the potential to greatly increase the...
Impulse for work intaday and long
Long position till end this year (Oct-Nov 2020)
Yellow arrow = 10.88
ATR 172 (days)
TP1 - 2.02
TP2 - 2.09
SL - 1.96
Based on Fractals
Calulated on Fibonacci and ATR
In this idea I will share my technical analysis on GBP/USD and explain what the most important things are to pay attention to.
Here on GBP/USD we see that overall the pair is in an uptrend, which can give us a slight bullish bias, favoring long positions over short positions.
At the same time we see a small horizontal channel forming between the horizontal...
Price at resistance level on daily during a dominant downtrend. Scaling down to the 4hr we see price has formed a double top at this same level. Which could hint towards bullish exhaustion prompting bearish pressure to come in and push price lower.
This could cause a shift to the downside if we can see price break through the lower trendline.