We are following the market and are currently adhering to the previous analysis. But the channel that can be seen in 1 hour time can be effective !!
Sell trade potential for GBPUSD. Just completed off wave 4 and potentially will complete wave 5 at the -61.8 fib level
Eur/Gbp is on top of tailwinds from under 0.8600 where the base of 1.7 bn expiries rolled off (stretching to 0.8615), Sterling could be drawing some encouragement from signs of a resolution to the UK-EU rift over COVID-19 vaccines. The drop is now under way.
Before: Sterling has lost more momentum approaching 1.3900 and pulled back through the DMA at 1.3830 before losing 1.3800+ status altogether and is now looking even more prone around the 1.3760 pivot point that prefaced Cable’s rally. The dollar index gathered more momentum and bullish technical impetus once 92.000 was breached as counterparts lost...
The pair has completed half of the way to the bottom of the uptrend channel after breaching the 1.4000 area and reversing since. There is therefore some room left for the bears to dip the price further. We shall keep an eye on it. :)
• Ascending channel holding quite well • Strong dollar is driving most pairs down • Bears on temporary hold near the trend line support, and the 240 4-hour moving average at 1.37700 • Back in 2017, sterling went up to 1.43, few pips away from 2021 highs and then retreated back to 1.37 before going up again towards 1.44 • In technical analysis, history repeats...
GBPAUD long Loook at my last post this morning!!!!! currently running 10%. Partials taken already and risk of the table. Looked in about 5% from Partials, I will let the rest play out to higher imb's ! follow us and gives us a like for more forecasts !!!
The US dollar will be getting weaker till it reaches the 90.400 level, so we can expect the dollar weaken against the most pairs. You can either take a long position to the zone pointed in the chart above or you can place a sell limit order on GBP/USD!
IF WE START BREAKING THE DESCENDING CHANNEL TO THE UPSIDE, THEN THE PROFIT COULD BE HUGE. I'M PREDICTING THAT WITHIN THE NEXT 3 DAYS WE COULD BREAK THE HIGHS. THOUGHTS?
Price has been trending downwards, I see some level of consolidation on the lower timeframe. I hope to see more bearish power which will cause price crashing down to first target zone.
GBPUSD is about to face very strong support at the 1.39 demand zone. This is strong support made up of the middle band, the bottom of a rising channel, and a rising trendline of the KD indicator. We expect some significant rebound to occur as it pierce deeper into the demand zone at about 1.3850. However, the plunge from last week was caused by strong rejection...
Price has been in a descending pattern since the beginning of the year. It is only now that we can see a clear reversal pattern - ending diagonal - whilst approaching a significant level. I'd wait for price to tag the low and give some sort of bullish momentum before considering longs.
Price has been in a descending pattern since the beginning of the year. It is only now that we can see a clear reversal pattern - ending diagonal - whilst approaching a significant level. I'd wait for price to tag the low and give some sort of bullish momentum before considering longs.
Gbpusd - Gbp is in a strong uptrend but due for a daily correction now down to 1.3650-1.3600 which would be a great buy entry to get back on the uptrend.
1.42 is first fib extension. could see retest of 1.348s. could bounce and keep going tween 1.372 - 1.376. been riding the weekly 9ma and bouncing off the 4h 100ma. Fundamentally, we all have our reasons.