GBP
FUNDAMENTAL BIAS: BULLISH
1. The Monetary Policy outlook for the BOE
The Sep policy meeting from the BoE saw money markets rushing to price in a much faster and more aggressive policy path than previously expected. Even though this of course falls in line with our bullish bias for the Pound, we do think the market is a bit too aggressive too quick right...
Let's see where the price will go first.
If it will tap into the Supply Zone I will look for a short
If it will go to the Demand Zone I will look to buy.
Keep in mind that from a weekly perspective we are pushing from a Weekly Low which could bring the price even higher.
If you see GBPUSD is on a bullish run, then you have to look at its daily chart. From what it shows it is full of shorting opportunities up till this point.
The red box denotes a sell zone and the bearish trendline still hold(the red line).
As we can see price is still bounded in our daily descending channel and can dump from this local resistance zone and channel resistance that is currently touching.
Notice: the price is getting bullish after a while and we should consider breakout to the upside too that if happens more pump is ahead like gree arrow.
DISCLAIMER: ((trade based on your own decision ))
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Reasons for taking long position includes:
- Recent uptrend
- Break and Retest of level which is a previous resistance now serving as current support
- This level is also a Fibonacci pivot point
- Instant entry or wait for bullish indication
Hey traders, here is a view of GBPUSD and the most important levels to take in consideration, personally i'm monitoring GBPUSD for a selling opportunity around 1.377 area, once i will notice any bearish confirmation the trade will be executed.
Trade safe, Joe.
Although I have just published a Long analysis on GBPCAD, this chart paints a different picture. According to @Mango2Juice 's Correlation Matrix, the correlation between GBPCAD and GBPUSD is fairly limited, even though both pairs share a base currency.
Anyway, GBPUSD is in a down-slope channel and has rallied quickly from its latest visit to the bottom line....
Price is currently trading in an ascending channel. Price is at our sell entry of 1.37648 which is also Fibonacci projection of 61.8%. Price can then potentially dip to take profit level of 1.36720 which is also Fib retracement level of 78.6%. Our short term bearish bias r is supported by our stochastic indicator which shows that it is near resistance level.
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We are looking for a swing trade so I will utilize the weekly and 4 hour timeframes to make my decisions. On the weekly timeframe we look for three things in particular which are our key levels, patterns and candlestick analysis. On the 4 hour timeframe we focus on using most of our technicals which is including fibonacci, support and resistance , supply and...
GBPUSD- 18Oct2021
On daily time frame, GBPUSD is at resistance. We could expect it to pull back to 1st Support at 1.36895.
On H4, price is expected to pullback to at least 1st Support before continuing it inv h&s upside. Stochastic is also at horizontal resistance level where previous drops occurred.
This is for personal record purposes only, not financial...
GBPUSD on the daily time frame, we've got a descending channel with price returning to the upper trend line for the 3rd time. We can also see price has rejected the 61.8 FIB. Depending on how market opens. Ill be waiting for a break of structure on the lower time frame before looking for an entry
#GBPUSD Price trading in nearby 4hr resistance area and bearish candlesticks formed its will take entry for below the bearish candlestick and its will go for the next level of support
Why we like it:
Price is trading in nearby 4hr resistance area
waiting for bearish candlesticks formed
possible to move next support area
1st support:
1.36681
Next Zone...
British Pound vs US dollar
Entry GBPUSD@ 1.37275 Target @ 1.3200 Dec 1, 2021
1.0 Lot Standard Account
.10 lot for Mini Account
Technical Chart Analysis Conditions:
1. Break-out below support channel
2. Pull-back up to 1.37500
3. Ideal entry @ 1.37275/1.37500
4. Target Range @ 1.3200 to 1.3000
Fundamental (Price Action)
British Pound vs US dollar...
The impacts of the energy crisis around the world are not yet known, but as in every crisis (even after the crazy printing of money), there is still a rush to the dollar and gold (and now BTC).
Let’s go visit 1.33 soon.
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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