The market is in an ascending channel on the Daily time frame and has respected the lower support trend and rejected it and gained bullish momentum. Furthermore, on the daily time frame the 200EMA is below price which is a strong indication of bullish momentum and bias continuing. The larger area of resistance has proved itself as a key level of resistance on...
MY BIAS ON GU ill be expecting GU to form an inverse head and shoulder pattern
Area of interest, price has tested the support trend line and rejected it on lower time frames. Price is at an area of confluence due to support and resistance trend lines and 200EMA indicating an area of value. Moreover, it is still bullish according to the 200EMA (Daily). However, fundamental analysis may indicate pound weakness due to Brexit negotiations...
Just my own opinion. It could or wouldn't go to my bias. just manage your trades
gu will go down first for retracement before continue uptrend on weekly
Should be clear, a break in the 1H channel, also GU reacted well to the 4H upper channel line.
Could break for a bearish continuation, or reverse!
Seems as though price is falling in the fibonacci (50-61.8 zone) if price falls in this level and rejects in this zone instead of breaking though we are looking for nice solid bullish candles to close to confirm a long position around 1.32067 level. Position: Long Entry: 1.31067 SL: 1.31096 (50 pips) TP1: 1.32104 TP2: 1.32547 TP3: 1.33017 TP4: 1.33713
gbpusd yesterday moved extremely well, but it turned up, we only got 50% of the order, now the price is strong, the trend is strong, the trend is usually not good, wait for the price to retest 1.316 then buy will be sure. over, or above current thresholds place a buy stop above the target of 1,324 to 1,327 or 1,333
I’m looking to be Bullish on GU, This is not a signal but rather use it as a reference for your own trading! Let’s see how the market plays out!