Pound downtrend had been engulfed by a bullish one in the support zone. Wait for a confirmation and CPI data for British coming out soon. HIT IT HARD! Charts never lie. *This is my only opinion. Trade at your own risk. The trade you gain or loss is not my responsibility.*
Pound dollar most likely to fall, some demand zones didn't tested yet...
FX:GBPUSD We see Price has just created an impulsive move to the upside which signals the involvement of smart money. Price is presently trading in a range from a supply zone which indicates resting sell-side liquidity at the inception of the bullish impulse into the area of supply. I want to see price take out resting SSL and give a tap into the 4H demand zone....
GU has been down trending in the last 2 weeks, looking for a trend reversal confirmation.
I am looking at the GBPUSD on a daily chart. It looks a lot better after holding 1.30 support levels and then the breakout. I would like to see a nice break above 1.32 resistance and go from there to really determine if the pound is really ready to turn thing around. Next would be 1.34. We can look back in the past and see levels of support are now resistance...
Two possible trade setups, both with nice targets to the upside.
Does this trade look like something you'd want to buy into? "No" is always an acceptable answer, but if you (as we) think GBP/USD is ready to revert to the mean, why not step in gently, a few contracts at a time, rather than all at once.
Looking to short GU from 1.35000 zone Confluences: - GU was ranging without any signs of momentum. Last week, a breakout of the range occurred after a massive push to the downside - Broke below 1.35000 support region without retest. - Retest level (1.35000) which is currently the support-turned-resistance level falls inline with the 61.8% fib reversal levels. A...
GU has been bullish so far this week seeing a short correction to a major psychological level yesterday, we are likely to see it go bullish if we see a break and retest above structure, if not we may consider going short if we see STRONG resistance around structure
Looking to short GU from 1.35000 8H Timeframe Confluences: - Bearish market structure, only looking to short the market - Timeframe is making LLs and LHs - Possible 3rd bounce on the trendline coincides with weekly key level, further supporting a possible short Waiting for price action to indicate that a short trade is in play. If price action indicates...
Gu is likely to sell till level 1.3200 which served as a level of support if it fails to break above level 'A' 1.34432 which served as a region of support and resistance last week
#GBPUSD (Update) In Daily timeframe Chart, GBPUSD Has been Consolidating in descending Channel Pattern since Feb 2021. Seems like Already bottomed out, If Channel Broken Broken Upside, Expecting +500 pips Bullish Wave in Coming Days. So keep an EYE on it.. Please like the idea for Support & Subscribe for More ideas like this and share your ideas and...
US Dollar firms near 16-month highs. GBPUSD is under pressure at five-week highs. USDCAD pulls back on Omicron easing fears. GBPUSD technicals The British pound has been one of the best performing majors amid the dollar strength across the board. The GBPUSD pair has since bottomed out, powering to five-week highs amid renewed bidding on the GBP. ...
This is my idea about GBPUSD Which you can see it in chart
Previous daily candle is showing a good confirmation for short positions . I will wait for the market to give me a confirmation around 1,32634 which is an area of resistance . If the market break my main resistance trendline , sell setup will be invalid . My target should reach within 2 days of swing trading and my overall target is 160 pips . Risk to reward ration 1:4
Looking to short GU from 1.35000 4H timeframe confluences: -Pair is making a series of LH and LLs indicting a bearish market structure - Due to bearish market structure, I will be favouring shorts until there is a momentum shift. - The 1.35000 key level coincides with the 78.6-61.8% fib retracement range providing further confluence for downside shift. If...
Looking to short GU on retest of 1.34000 4H timeframe confluences: - Bearish market structure, due to the LLs and LHs being created. Therefore, only looking to short pair - Last week GU broke through the ascending trendline as well as the key support level of 1.34000 Additional Confluences: DXY = Bullish EURGBP = Looking for pullback to the upside General...