GBP/USD open Sell near 1.2650 - 1.2660
Reasons:
- Daily trend is down
- key level
- Price made a fake broke of it
Also, as I promised once before After 100 like I will write, when is the best to open a position with (Stop loss and Take profit points)
S/L: 1.2680
T/P: 1.2525
T/P: 1.2485
GU short entry zones to watch in Red.
PM May keeps her position so the Pound got a relief rally.
But her margin of victory was not impressive, and that was her OWN party!
As well, the EU nogotiaters are giving May cold shoulders (rightfully so).
So I think a lot GBP shorts closed being at support and ''good'' news, while some bulls are getting in.
But I do not ...
GBPUSD now looks like a wedge at the resistance IMHO
a powerful buy-back is seen and a check out of the bulls ... Theresa May survives Brex and we are already expecting a new era in GBP
GBPUSD is currently testing the bearish moving averages and looks to be forming a bearish ringed high pattern. If the market finishes like this tonight, look for further downside to continue.
GBP continues to have Brexit woes despite PM Mays small win with a confidence vote by her own party.
Looking to short GBPUSD on this Shark formation as it head back up to the sell zone.
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Yesterday Great Britain, that already became a habit, was a provider of sensations and turbulence in the foreign exchange market. The opposition was able to gather votes for a non-confidence vote for current Prime Minister Theresa May. We’ve already noted yesterday such scenario and written that it likely plays into May's hands rather than is a threat. It helps ...
Bullish divergence with rsi on the daily. Doing 5 waves down of a larger C of Y of next larger degree, IMO.
Expecting a small bounce out of the descending wedge forming inside another descending broading wedge that I'm not too confident about.
Potential targets indicated by horizontal support/resistance lines.
Break out of the descending broadening wedge would ...
At the moment we are seeing a reversal in the pair. The price has moved away from annual lows and is in correction.
After reaching the level of 1.2485, the price turned around. We suppose that at the moment a head and shoulders pattern is being formed with the level of shoulders around 1.2610. The next resistance level for the growth of the pair will be the level ...
After some good and bad news about GBP it pullbacked to its broken support and I think with or without BREXIT GBP/USD will decrease to 1.20 , however there is another support at 1.23 but it is possible to break it and go for 1.20
GBPUSD, often referred to as “The Cable”, a foreign exchange term used to describe the British pound vs the US dollar, is one of the oldest traded currency pairs. In July of 1866, after an earlier failed attempt, the first reliable exchange rate between the British pound and the US dollar was transmitted between the London and New York Exchanges. Optic fibre cables accompanied by satellites handle the Transatlantic communications today.
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