GBPUSD, Buy on H1.
H1:
- Price: Test support weekly and move up
- Structure: Minor uptrend
- Tendency: Strong upward
- Above support and MA
Plan:
- waiting pullback : zone 1.220-> Give signal candle => BUY
- Take profit: 1.237
Hi there,
GBPUSD is forming very nice price action at the bottom and setting up for longer term reversal.
Note: It is still correcting on lower time and still can push lower for one more drop before price start to reverse.
Good Luck
the market has recently broken a neckline on GBPUSD and now we have a perfect
chance to catch the retest of the broken level.
look for long trade around 1.218 level.
Target 1 - 1.229
Target 2 - 1.327
Stop - 1.209
GBPUSD reversed off its resistance at 1.2270 where it could potentially drop further to 1.2175.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
Hello everyone!
Many believe that GBPUSD began to grow and started buying. Perhaps in vain.
Now the price at the two strong resistance lines + the trend remains falling, and while we did not break through these lines I do not see the point to enter long.
GBPUSD target is 1.192.
Share your vision of GBPUSD in the comments and like if you agree with this idea.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.2195). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPUSD is in a down trend and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
....
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2195.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.227.
TP4: R2=1.23.
Set the stoploss of these orders at breakout of S2=1.2175.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
The overbought Sterling is likely to retrace back up to 1.2200, the 38.2% Fibonacci retracement level. Below this, the GBP/USD may find support around 1.2190, 50% and 1.2170, 61.8% Fibo levels.
GBPUSD usually continue's it's overall trend after three touches of a correction.
In this instance, GBPUSD will most likely continue it's downward trend after three resistance touches in this wedge.
We are currently approaching the second touch of resistance and it is a great shorting opportunity.
Remember, only enter if price action permits.
The Move Price formed a Head and shoulders that broke the neckline and now the price move to retest It approx on Level 1.21900-1.21750
So We can Enter with a long Position from this level after Pullback with Price Action
TP are showing on chart
Any Closing 4h below 1.21700 the scenario it considered as canceled
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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