After breaking out of the monthly wedge and retesting we are seeing another breakout this time of the daily ascending wedge. Currently we are seeing the pair ranging sideways but I am confident that we will see a break above the box and onto 1.77000s.
Hi guys. We can see a potential long term trade coming up on the GBPUSD. Will we break the trendline and go Bullish or will we see another bounce and see the pair fall to the downside?
Will need a few things to be met before entering long
In this pair i am seeing some good long entries , and as USD losing it's strength it can be give some Extra Boost to reach target much early . Best of luck . Trade carefully even trade is 100% sure . Thanks .
Price keeps on respecting the current bullish channel, we have seen a closure above the 1.33070 resistance which last happened in September, we are now seeing a retest meaning that resistance could now turn into support so if the current 4H candle closes above it I will enter long targeting the resistance trendline around 1.34000s.
Last week marked the 7th week of the GBPUSD range and as a result we simply look to play the range next week. A test of the range top at 1.32696 will provide a chance to look for Short opportunities first of all down to the range equilibrium point at 1.31550 with an ultimate view to key support at 1.30342 and 1.29799 respectively.
Green lines are targets Red line is SL Black line is entry point I will only be posting 1 trade per week at the most on tradingview from now.
I had already decided to short this pair before realising that this weeks candle closed as a huge doji. (!) I rode the retracement wave up towards the trendline and the 60fib, and was waiting for a rejection of this area. (yes I do trade NFP) Both EMA, 60fib, daily res and the trendline are right in this zone and it was rejecting it on the 1H timeframe before it...
Shoulder - Head - Shoulder pattern. Textbook like on this chart. Bulls also broke a strong downward trendline. We are clearly seeing a change of strength. Hop on the train on any dips. 1.67-1.66 is a strong support area with several confluences. I am expecting around 1.70 mild sell pressure and profit taking that could take us back toward the above mentioned buy...
GBPUSD Near Term - and Medium Term swing set-up Maybe about to get stopped out of the Sterling short trade here for a 10 pip loss (stop at 1.337) If so, it's a small loss at least - but need to cover the implications from here, if struck ... Sterling would then be likely to rally further by about 90 pips to 1.3475 - but intend to close down any near term longs...
Long-term (Weekly) bullish trendline has been broken and retested (4H view). First target is 0.87525.
After the Euro plummeted against the British Pound in the middle of September, the rate rebounded against a dominant support line. As a result of the rebound a junior channel down pattern has revealed itself. Due to that reason the rate is set to decline in the medium term. Meanwhile, in regards to the short term, the pair is squeezed in between the resistance of...
The ascending trendline has been broken and retested, i could have waited for the current candle to close but the previous high wave candle was very bearish in my opinion. Weak retail news from the UK and positive US news were also taken into account. Let's see how it plays out.
Pound seems to be regaining strength. Ascending trendline bounce off 1.30447 and retraced. currently resting on 38.2% Fib zone. 78.6% retrace (1.35233) then if we break ,1.36584 sellers tried to drive price down but failed. looking out for fundamentals to help drive price up.
A break below the neckline could see this pair dropping to 1.62000.
Recently the Pound reversed its direction against the Australian Dollar and formed a medium term channel patter, which just recently did something that was largely unexpected. The pair has revealed a large scale triangle pattern by breaking a medium term ascending channel pattern, which was expected to represent one of the many rates rather long term ascends. If...