Hello Traders!
I didn't think GBPUSD would reach this resistance line so quickly, I thought price would roll back down.
But now the price has reached the intersection of two strong resistance lines at a strong resistance level of 1.3466.
And I expect a fall from this resistance zone, to level 1.3 (possibly to level 1.278
After the election, now GBP is more related with economic data than political factor in the last 2 trading weeks of 2019.
Back to this weekly chart, GBPUSD is very possible to retrace back to 1.29-1.303 from fibo 0.618 of a grand super trend start from April 2018.
We are now only expecting a small correction like FIBO 0.382, so 1.29-1.303 is the target zone for...
Highly Chance Bank of England shocked the market on Thursday to cut-rate. If Cut-rate price could drop hard and overall coming week pound will drop towards 1.3000 to 1.2750.
Support Levels:
S-1 = 1.3106
S-2= 1.3000
Resistance Level:
R-1 =1.3380
R-2 =1.3502
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Lets see how pound is going to react after lately high moves.
We can expect further move up to test daily ressistance, however if break blue ascending trendline pound will test recent support
I drew this resistance line on the daily time frame and then moved down to hour 4.
I believe price will move down from here. I believe this is just a support break and retest and another drop!!!!
Due to the GBPUSD break of the resistance line at 1.3016, the above price will be a support line if the pound continues to fall.
As you can see in the graph above, there is a resistance line at 1.3318 based on 2 past failures (a relatively light resistance line).
Stochastic in Overbought + RSI in Overbought which usually indicates a change in trend.
Great chance...
Overall, GBP/USD is trending upwards. Recently, GBP/USD trended lower and bounced off the support level of 1.33200.
The U.K. flash PMI data will be released later at 1730 (SGT).
Flash Manufacturing PMI (Forecast: 49.1, Previous: 48.9 revised from 48.3)
Flash Services PMI (Forecast: 49.6, Previous: 49.3 revised from 48.6)
If the released data are higher than a...
I am so proud of the UK. In the 1930s they rejected the growing populism in the world, and in 2019 they did the same.
All the propaganda, all the demonizing, and the forces of anti-freedom still lost, but a huge margin!
And if europe falls, we shall go on to the end. We shall fight in France, we shall fight on the seas and oceans, we shall fight with growing...
Following The Win Of Brexit Conservative Party
The trade is clear bullish which will go to the supply zone of :1.43410
Use Risk Management
Avoid Getting Greedy
Hello traders, hope you're doing good. Here we share our technical analysis considered to fundamentals and future price actions. We believe that this trade setup will help you to gather some required info for your trading. And we highly recommend don't follow the trade setup unless it means the confirmations as described or without our call. If you want to...
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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