GBPCAD has reached a strong resistance cluster two days ago,
the resistance area is based on a confluence point between a horizontal 4h structure and the resistance line of a falling parallel channel.
on the hourly time frame, the price formed a double top with a lower high,
confirming the strength of...
GBPCAD broke below a support line of a bearish flag pattern on a daily.
now the area between its broken support and last higher low level gives us a zone to sell from.
my entry will be strictly based on lower time frame confirmation.
Daily/4h time frame analysis on GBPUSD.
Key levels, price action and scenarios explained.
Trading recommendations for swing and intraday traders given.
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I want you to pay attention to 1.905 - 1.926 horizontal trading range on GBPNZD.
in July, once the market reached 1.905 structure low, it started to consolidate and coil within that range,
until it broke its upper boundary and started to grow.
such a scenario may repeat again.
the price is once again stuck...
Here's something I'm currently working on with the British Pound/US Dollar.
Why do I believe that Price Action will head further down?
1. P.A. broke a huge O.B. last week ($1.2980-1.3035). Precursor.
2. A new O.B. had formed ($1.3062-$1.3082) at the peak after breaking through the previous O.B.
3. The green candles underneath current price signifies potential...
GBP is about to reverse and probably continue to advance higher, I'd highly recommend to wait until the close above the October's high and go long.
The pair might also drop before the further uptrend, though this is less likely and the reason is the huge lower wick, which signals the power of buyers.
I'd recommend going long above 1.30140, or from the...
GBPUSD as analyzed since last week, as started the bullish impulse wave after it has successfully completed its A-B-C Elliot wave corrective structure.
We continue to ride this buy to a minimum of 1.35000 psychological number
SAR_GBP IS TRADING ALONG THE DIAGONAL SUPPORT. ANOTHER BULLISH PUSH IS EXPECTED
(1) Horizontal and diagonal support put the pair on strong footing
(2) The push upwards is expected to the resistance lines shown
(3) The push might be followed by support retests
Currently working on wave B. I'm going short if market breaks below trendline of triangle with target at 1.2620. I will consider this analysis wrong in market breaks above main trendline (resistance)