Last week saw a breakout of an outer trendline following a bounce from the 50 fib. Currently price has made a new high and is now retesting. Long opportunity with the first TP being at the -27% extension. (1.614)
Confluence on 50% retrace of last major move down, 100 and 200 MA's
In addition, the USD is still weak providing some more upside opportunity until we reach the target area for short confirmations. RSI and stoch also still showing some upside potential, so agressive traders could enter a long before going short... trade after your own analysis and at your own risk...
GBPUSD is showing bearish 4 HR divergence and bearish 1 hr divergence. GU is a pair to keep an eye on for a medium term short. I am waiting until the price action goes below the 1.5600 recent high and back into the RSI channel. I am also looking for a break of the support line on DiNapoli.
GBPUSD_Waiting for further valid signals
Main trend of cable is still bearish. The downward trend was built first with rectangle pattern then it was broken to push the price to the lowest level. A second rectangle was then built since Jan 2015 and has been triggered to reach the upside. The upside has been then rejected twice by Ichimoku cloud and the 1st drawn...
240 set up.
Bearish Wedge break and re-test
AB=CD completion at -27 fib ext targeting the 38.2 fib retracement level.
Head and Shoulders potentially forming where price has bounced off previous structure and possibly heading to a minor level of resistance to continue the move downwards
Overall bearish divergence on the RSI but short term positive divergence in...
GU is in a downward trend and has recently been rejected for a breakout. on the 1hr a H&S has formed, and is about to punch thru the neckline. Short with TP1 at next resistance and stops just above the right shoulder. Good luck!
This setup base on the related idea as link in the related section.
This number come from Minor support/resistance. as show in the chart. Where the monthly trend still very strong and it expecting to be break in this following week.
This number come from the spike created by the NFP last week. as point by RED box with an extra pip. (If the price break...
The cycle continues.... The USD strength and GBP economy that does not do so well since July last years. and EURO zone QE it will create domino effect to the entire regions.
After apply multiple technical analysis tools of classic Head-&-Shoulder.
As well as, Fibonacci from major Support/Resistance lines.
This idea base on Strong USD and Weak GBP basis.
***This idea could be too unrealistic.***
British Pound is in a downward trend channel since July 2014.
My short appears attractive from a technical point.
I will enter a short GBPUSD position, targeting 1.60.
A SL will be activated on a close above 1.64.
I will TP on 1.61 and move the stop-loss to breakeven.
This Long idea base on ::
1. 50% Fibonacci retrenchment level of the previous pulse
2. Suport and resistances line @ 1.6940.. where is shown sign of bound around this area in the past as indicated by the RED ARROW.
3. Weekly Chart where GBPUSD is currently have an uptrend moment.
This setup base on uptrend movement where usually price will bound off at 50% or...
This is a setup that that look promising::
This setup base on 4 technical analysis.
1. A double top is form on the chart on 4H candle stick, as well as a long wick pin-bar on 8H both are re-traced back under " 1.7155 "
2. This price location and the formation of double top match the "ascending channel".
3. This price action also confluent-ed by Fibonacci...
The support level, is observed and identify by using several day data. as indicated in "red arrows". @1.7055
@1.7055 :: This level seem to have have it act as support and resistance from many time... and each time price touch this level. it could bound back as much as 50pip in any direction.
@1.7055 :: This level also being confluent-ed by Fibonacci-retrenchment...
