GBPUSD H1 GBPUSD H1. The price has bounced from the support up but found a resistance at 68% fib level. There are two targets. Price can reverse from two levels. First sequence is that price I gonna make ABCD pattern and reverse from 138% fib level which has confluence with historical support level at 1.3225 Next scenario is the price is gonna break that level...
so on the left arrow you can see a hidden strong support that killed people on a bullish run last year, now we are back to test that level and did not break, GO BULLS on the right arrow.
Just entered position 1 on Gbp/Usd long with target 1 at 1.38541 @resistance from February 2016 support. If price action makes it up to 38541 it will paint a nice right shoulder to retest last highs. Possible that it breaks down to 0.236Fib zones for more entries but I think it is more likely that price rally's up to 38541 before heading to lower levels. Overall...
target to set Po area fibo 50% below and TP 1 fibo area 1.61.8 , TP 2.618 max TP 4.236
Financial Markets behave similar to the ocean...it produces waves ...just as much as the ocean doesn't flow smoothly to one direction ...financial markets too have high or low tides...and a high tide in this case a bullish market is a series of lows and highs its not straight highs always :-) this has taken me soo much time hectic days, long nights,,,,,learning...
I see this pair going up...If it breaks through... TO THE EFFFING MOON
With the recent changes in USD interest rates we are seeing a strong USD so that means pairs like GBPUSD, EURUSD, and USDCHF are falling. right now the only nice setup I see for a possible short is in GU. We have a clear head and shoulders formation in the H4 chart, the head being rejected by a monthly strong resistance, and the price is testing the neckline right...
Expect a short here on trend-line then the breakout from the D point on the bottom on a retest of previous support for a possible continuation move upwards. Beware of breakout topside in current position.
On the weekly, the retracement of price has formed a bullish flag pattern, giving upward bias on the weekly. On the daily, price has formed a triangle formation and is preparing for a breakout. It has also found support at both the 0.36 Fib retracement and established trendline. SL: 1.37 Price: 1.38492 TP: 1.415 Hoping to hold between 10-14 days Should be good.
The pair has been under pressure from the bears and the waning of the dollar strength has had little impact The GBPUSD bulls seem to have lost momentum over the last week and it appears as though they are likely to have a tough time in the weeks ahead. It was a volatile weak with the dollar strength waxing and waning during the course of the week and though many...
I see a channel that is moving the pound to the downside. 3 attempts were made to break the channel and in my opinion they have no. I will watch the week to see if the trendline is retested for potential upside. However, after the previous move I don't it has much left in the tank to push further up.
Breakout of this resistance line was big, price is now back down but this could be just a retest before a really big move up.
Price is approaching a major resistance that has already been rejected on the daily chart. The price respected the Fibonacci extension levels and RSI shows that price tends to be overbought at this major area. I would expect a major drop to the major support at 1.36 area. I would suggest then : SL at 1.39600 with a TP at 1.36181