As I expected in my previous forecast, the price reached the resistance line and even broke it.
However, the movement was very strong and sharp, which indicates the interest of traders in this pair.
Now the price has dropped back to the support line. This is a support line formed in March...
Dear friends in my previous idea, I told you to buy near the 1.2850 level
and target the 1.32 level as TP.(previous idea attached below)
If you followed that idea, you have already made more than 300 pips profit.
Currently, GBP/USD bulls have failed at the...
💡 GBP/USD has a very unique and powerful pattern in development, the expanding diagonal. Once the diagonal pattern is complete, this suggests Wave c of (II) is complete.
🎯 The projected area of completion is 61.80% of Wave (I).
🤔 Do you agree with this setup?
The price went a little higher than I think in the last forecast, but I think that it was a false breakout.
The price reached two small resistance lines and started falling.
The target remains the same (support line of the growing channel)
Greetings Traders,today is the forecast for GBPUSD
The movement is very strong ,which indicates the long shot.It is intresting to take a trade.
When i look at the price and the support line from March 2020 in the near future we will see that it will bounce from her.It wil come to the key level 1.316
Dear Traders please make your own analysis before...
we got some random noise about how the French might possibly be paving the way for a compromise on fishing
which has been the latest childish rant to keep the Brexit talks off guard
nevertheless the pair us shown a sing of sell off
look for selling opportunity on this pair
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It could not continue to descend, so it returned once more to the upside at the channel's resistance, if broken, it will continue to rise.
Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be...
Two days ago, GbpUsd broke violently above 1.3 zone resistance. After a rapid rise to 1.3177, the pair is falling now and is coming to confirm 1.3 zone as new support.
The long term trend for Gbp is bullish and a reversal up from 1.3 zone would confirm that cable resumed its long term direction.
On the other hand, a dive back under 1.3 would put GbpUsd in no men's land
Trend power: 2
Overbought/Oversold : absent
Preferable trade direction : buy
Buy near 1,1790 with a stop loss above 1,1760 and a take profit near 1,1860.
Buy near 1,1720 with a stop loss above 1,1670 and a take profit near 1,1820.
Sell near 1,1880 with a stop loss above 1,1930 and a take profit near...
price is retracing back after testing channel top , on break below current support price may continue lower to test channel bottom .
In case price moves higher we may see some sideways movement on closing above trendline before price cud really move higher , however on close above we will be looking for long setups only.
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🔸DAILY CHART ANALYSIS:
🔸Price did a double top at the Resistance Zone and bounced.
🔸It has broken the Ascending Channel, and we can observe that now price is making a corrective an retesting a strong supply zone.
🔸Our bearish scenario takes the Support Zone as the main target of the downside move in case it happens.
🔸 We are waiting for a clear breakout...