Technical analysis: The price is still in a downtrend below 1.25 It has just bounced off the institutional support at 1.24 We could expect the beginning of a bullish retracement towards 1.25 or 1.26. But we'll be keeping an eye on the possibility of the downtrend continuing towards 1.23.
Having swept out the buy side liquidity am looking for short term perspective after price creating a massive displacement followed by a fvg
Here is my analysis for last week in the markets, and what I’m expecting for the coming week. As shown this is what I expect to happen.
After the price succeeded in breaking the highs twice and closing above it, I expect the price to target the next high, thus completing the upward correction.
The British is in positive territory on Friday. GBP/USD is trading at 1.2555, up 0.16% at the time of writing. The service sector accelerated in April, as the Services PMI rose to 55.0, up from 53.1 in April. This was the strongest level since May 2023 and services has shown growth for six straight months, with readings above the 50 level. The PMI survey noted...
Based on the market structure we see price broke the daily consolidation and now price is retracing to the neckline zone which come in confluence with the trendline of the lower highs So I think its a very nice calculated risk with multiple confluence of trendline in H4 and fib level plus the neckline of the consolidation STOP LOSS IS ABOVE THE POC LEVEL OF ...
Based on current news and pending level breakouts, it's essential to recognize the evident levels on both the 1-hour and 15-minute charts. Additionally, the daily chart indicates a significant level. Therefore, it's advisable not to initiate a long position until the levels on the 15-minute and 1-hour charts are breached. Also, it's prudent to wait for the...
i be further share entry & details analysis once it reach my POI
Expecting the price to fall from the supply zone to $1.247 demand zone
An expected decline in the price of the pound sterling against the US dollar after months of sideways trend
The dollar index and dollar index futures were both steady in Asian trading after falling 0.6% in overnight trading. Pressure on the USD comes from a strong yen, while Fed Chairman Jerome Powell reiterated that the bank will not raise interest rates further. However, the outlook for the dollar remains upbeat thanks to the prospect of a Fed rate cut being pushed...
I checked GBP tri-monthly chart which is not usually posted here -- and the pair is already telling us something on the direction it wants to go at broader long term spectrum. On the tri monthly data, GBP has started shifting its trend --- bouncing off it perfectly on a 38-year long standing very solid support. The pair's last visit to this price range was on...
We seen a lot of Chop this week. Looking like price is ready to turn full on bearish again but we need to wait for a new High to be made first. Might not get another move till the middle of next week. just have to be patient.
Cup and handle continuation pattern observed in GBPUSD pair. It is highly likely that the price will go up.
This is my gbp/usd outlook for 2 may 2024 enjoy :)
Entry- 1.25188 SL -1.25456 TP- 1.24414 R:R- 3R Goodluck.