Hello traders, after analysing the pound pairs, we noticed that pound will struggle this week and in the days ahead and GBPJPY is likely to fall 120-150 pips to 151.37. Please don't forget to like and share your opinion in the comment section below. Also follow to make sure you don't miss these type of ideas.
GBP FUNDAMENTAL BIAS: BULLISH 1. Virus Situation The successful vaccination program has allowed the UK to open up faster and sooner than peers & provides a favourable environment for GBP. 2. The Monetary Policy outlook for the BOE The BoE meeting on 5 August provided a flurry of comments with something for the doves and the hawks. The QE vote split...
I found an idea that sterling would meet it's supply area @1.40700 since the market retest the flip-over S/R, breaking the bearish trendline, formed a bullish pennant pattern, and made a multiple bullish divergence on oscillator in confluenced as a bullish continuation signal.
Here we have the 153.000 psychological level holding as resistance on GBPJPY, from which I anticipate price to sell off from. I am mindful of a potential counter trend bounce, however if this area if broken we could see a drop to the highlighted target region of 131.500 This set up offers a nice risk:reward ratio with just a 40 pip stop above the key level....
EURGBP broke and closed below key daily structure support again. Now the broken level turned into strong resistance. Analyzing 4H, I have identified an intraday supply area. It is based on a broken horizontal structure and a falling trend line. From that, the price will most likely drop. Goal - 0.8476 ❤️Please, support this idea with a like and comment!❤️
Short position taken – 1H – From Monday in daily time frame we had LH and price is struggling with the descending komu in daily. In 4H price broke last week level and also a daily S, and today it broke the last low which made last high and pull back so I enter the short position and the TP is the Monthly S. in: 0.85771 TP: 0.85000 SL: 0.86100 R/R = 1:2.27
Short position taken – 1H - Although in bigger timeframes the trend was bullish but it showed weakness and cannot pass the last week high and reverse from it. In 1H timeframe, it broke the last low (1.96205) which created last high and also it passed the ascending komu. I entered the short position and the TP is last week low. R/R = 1:2.07
The long position is taken – 4H -Daily timeframe I checked and last day candle barriers are HL and HH, in 4H also I see the start of a movement from a 4H demand zone, although price broke an ascending channel it was above a fat ascending komu. Also in lower timeframes, I see HL and HH. I enter the long position and the TP is last week High. R/R = 1:1.1
Long position is taken. The price broke yesterday High and also it start the uptrend from a weekly level. R/R = 1:3.03
Price broke a daily demand zone and also in multi timeframes was bearish. The Tp is the Monthly support which is a round psychological number too. A high-risk trade cause it has a wide SL. R/R = 1:1.17
GBP FUNDAMENTAL BIAS: BULLISH 1. Virus Situation The UK’s vaccination success has been a key driver of positive sentiment for GBP from the start of 2021 and has meant the county have been able to open up their economy much faster and sooner. 2. The Monetary Policy outlook for the BOE Markets were expecting a hawkish tilt from the BOE at their June...
the head and shoulders neck line broke powerfully and the price come back to that trend line and test it but I think will come back to the down trend and will be very powerful trend. if pay attention to the head and shoulders pattern in technical analysis and other charts, its common that price come back to the broke neckline and again go to the past trend and we...
Hi guys! 👋🏻 🔔 GBPUSD is about to complete the Ending diagonal pattern to end this correction move. 🔔 There is a Head and Shoulders pattern which is clearly traced on this 4H chart, so keep an eye on that too. 🔔 There are no clear signs of a strong bullish reversal for Pound, although as seen on a larger time frame, it's most likely that GBPUSD will continue the...
Technical Overview: - GBP/USD Check out our previous posted analysis Analysis is only 1 piece of the puzzle 🧩 Our analysis is a sentiment for the upcoming week, month. Use this as a weather forecast, you are the person that has to put on a jacket when it’s raining. Trade this sentiment based off your own entry strategy at the right time. Flow with the...
GBP - FUNDAMENTAL BIAS: BULLISH 1. Virus Situation The UK’s vaccination success has been a key driver of positive sentiment for GBP from the start of 2021 and has meant the county is on the verge of completely removing covid restrictions from the 19th of July. As long as the reopening moves forward as planned it should provide support for the GBP in the...
GBP - FUNDAMENTAL BIAS: BULLISH 1. Virus Situation The UK’s vaccination success has been a key driver of positive sentiment for GBP from the start of 2021 and has meant the county is on the verge of completely removing covid restrictions from the 19th of July. As long as the reopening moves forward as planned it should provide support for the GBP in the...
Here on the GBPUSD, we can see how the market has created an "M" formation. In general, after an "M" pattern is formed, we expect the market to provided a push to upside to literally complete the pattern, turning broken support into resistance. At this point we will be looking in to find a nice short entry to the downside with a good Risk-to-Reward Ratio. Thanks...