With PM May stepping down, will we see a stronger or weaker pound in the next few weeks? So far the technical 1.266 support has been well respected with a morning star pattern, we might see a retracement back to the 1.300 area. Sell limit at 1.3 can be a very rewarding trade.
GBPUSD is forming Inverse H&S on 1D chart, plus:
1. Last two daily candles => Doji + Bull
2. Stochastic RSI => Oversold
My target is 1.30000 figure for this long...
A bullish shark on the daily timeframe but within that, there's an ABCD Pattern that poses a potential counter-trend trading opportunity.
I will wait for a double bottom on the daily chart to engage the trade.
Notice every time price hits the support level it bounces upwards, we already have a bounce with a nice bullish daily
candle right after price touches the support line.....if you look at the previous times it touched the support line it bounced, since April 17.
So guess where price is going now
Be patient and make money:)
GOOD LUCK!!!
Based on daily momentum, price will be raising for the next week. Before that, price will be retrace to the nearest support. so that, i zoom in at the H1 time frame for looking the best area of support before the price start raising follow by daily momentum.
we back again on this pair the bulls are back in action.
After a while in the bearish mode, we can see this pair retracing back to 1.300 levels.
It first need to break a few key zone before reaching the target.
TP 1.300
ITekQuan indicator helps you identify the beginning of the short and medium term trend — quick and accurately. Allowing you to trade according to the current and a higher time frame entry.
Once ITekQuan indicator has spotted the beginning of the trend, it clearly displays a Buy or Sell signals on your charts… showing you exactly where a high probability entry...
Morning star candlestick pattern off 1.26600 level, the August '18 swing low. May making it known her last day as PM will be 7th June. Last day also managed to close above monthly S3. Will be tracking this on lower timeframes also.
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.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
