This is the GU setup I am currently looking for around the 1.16000 psyc level where I would like to see support form on the H4 timeframe to continue the current H4 uptrend. The fib target is directly at the Daily timeframe support/resistance level so that is perfect area to key on. GU approached the Covid Lows made for the first time since March 2020 so this...
Waiting to see what this candle closes as, currently quite a strong red candle. Failed to break resistance and now looking to drop. Very healthy RR.
GBPUSD just created a new high at 1.1695 after breaking out of the previous resistance at 1.1642 while moving in respect to a new formed uptrendline and it also has a key support zone at 1.1605. Now if price continues to respect the support zone at 1.1605 and makes a breakout above the recent high at 1.1695 then it could continue to push up to the next resistance...
First full week of the new month. My expectation is that market will grab sell side one last time possibly with a big push, and then chase buyside from late last month. Ultimately I think the month will close red however. Only seeing shorts at this point in the week.
On the higher time frames it looks like GU is finally back on a bull run. Here I have identified an area where I will be looking to enter a long position with my 2 target profits highlighted with the horizontal lines. Wait for a confirmation to buy before you enter.
According to my understanding of this GU at this moment is that it might welcome some long positions in the market then maybe the sellers might enter to take over due to price predicted using sentiment analysis reason of passing of the queen this might lead the pound to depreciate in value
Price after a retest on the low from 2020 at 1.1411 faced storng price rejection. now price has a resistance at 1.1537. so if price makes a breakout of the resistance while respecting the low at 1.1411 as support then price could continue pushing up to retest the next resistance at 1.1606.
gbpusd currently facing resistance at 1.1465 & support at the new low it made at 1.1405. so if price continues to respect 1.1465 as its resistance and makes a breakout of the recent low then it could continue to push down creating lower low. However if price finds support and makes a breakout f the resistance at 1.1466 with bullish move then price might go for...
looking for re-test and reaction of voids before looking to short.
The price is currently ranging in between 1.1601 & 1.1503 creating a new resistance & support. so if the price makes a breakout of the resistance then it could push upto the next resistance at 1.1648 on short timeframe pov. and if price even breaks & closes above 1.1648 on higher tf pov then price might push all the way to 1.1752 & would be breaking out of the...
Price facing recent resistance at 1.1524 & made new low at 1.1448. if price makes a breakout of recent resistance, then it would be a breakout of the recent downtrend & price might continue to go up all the to retest next resistance at 1.1601 & also make a retest on the htf downtrendline. But if price finds strong resitance at 1.1524 & breaks out of recent low...
Today at 1130 we expect the results of the conservative leadership race. Sunack vs truss. Truss is the obvious favourite to win but she is bad for GBP. her polices are inflationary and she can't understand that lowering taxes and increasing the money supply will further cause inflation. the UK economy is already expected to see 13-16% inflation by April 23....
Price while moving in downtrend it has recent resistance at 1.1600/1.1657 & also creating a new low breaking the previous one. now on a high tf pov price needs to respect 1.1600/1.1657 as resistance if price is to continue to go down in respect to the downtrendline. And a breakout of the resistance would result in the breakout of the downtrendline leading gj to go...
GBPUSD IS PLAYING OUT PERFECTLY!!!! We will continue to follow the trend and rack up profits because GU PAYS! the Next Tp level is going to be another crazy PIPS! I am bearish until price breaks the bearish trendline.
*not financial advice* - 15m chart - 2 sell positions - Targets Defined - Good luck
Price has a strong resistance at 1.1619 which it needs to make a breakout of to break downtrednline & start going for some deeper retracements. But as long as 1.1619 is respected as its resistance and price makes a breakout of the previous low at 1.1502 then price might continue to go down creating new lower low.