GBPUSD is falling toward a support level and could potentially bounce off support that aligns the 161.8% Fibonacci extension and 61.8% Fibonacci projection and rises toward the pullback resistance
Alternatively, if price breaks below the pivot, it could continue to fall to another overlap support level
Pivot: 1.2524
Support: 1.2452
Resistance: 1.2589
Risk...
GU has been coiling up since yesterday's huge dump, so we can see that buyers are coming in, you can't continue to sell it, it's not worth that.
buy now and TP at 1.26000
Short Term Elliott Wave view in GBPUSD suggests that decline from 3.8.2024 high is unfolding s an impulse Elliott Wave structure. Down from 3.8.2024 high, wave (i) ended at 1.2745 and wave (ii) rally ended at 1.2823. Wave (iii) lower ended at 1.273 and wave (iv) ended at 1.2747. Final leg wave (v) ended at 1.2667 which completed wave ((i)). From there, pair...
Since the beginning of December last year, FX:GBPUSD pair has been trading within a range bounded by 1.25 and 1.28.
In early March, the pair experienced a break above the upper range boundary. However, this break ultimately turned out to be false.
After returning to the familiar range, the pair formed a significant bearish engulfing pattern on March 21st....
GBPUSD got a trend day which worked perfectly as per plan given yesterday and we got the 100pips down move.
For today, similar to what was given for EURUSD, could see a pullback before further down, but overall bias is to the downside for a move to 1.2474. However, if GBPUSD goes down to 1.2500 double support without a pullback, expect a big bounce off the level, IMO.
Rangebound price action throughout the week with hourly buyside and sellside pending to be tested.
1.26546 intraday buyside liquidity is a premium area in price which cable is most likely to run to, especially if dollar is to continue to sell-off into the daily fair value gap @ 104.144. Hourly order block @ 1.26146 has been respected from Thursday throughout....
Price is falling towards an overlap support level and could potentially bounce from this level to our take profit
Entry: 1.25057
Why we like it:
There is an overlap support level, that aligns with the 61.8% Fibonacci projection
Stop loss: 1.24503
Why we like it:
There is a pullback support level
Take profit: 1.25825
Why we like it:
There is a pullback...
✅GBP_USD is going down now
But a strong support level is ahead at 1.2520
Thus I am expecting a rebound
And a move up towards the target at 1.2588
LONG🚀
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Structure Bearish On HTF
Weekly and Daily at same AOI
Weekly Rejection At AOI
A lot of Seller's Momentum in the Market
Daily Rejection At AOI
H4 EMA Retest
65%
+2
REMEMBER: Trading is a Game Of Probability
: Manage Your Risk
: Be Patient
: Every Moment Is Unique
: Rinse, Wash,...
💵Pair Name GBP/USD
Time Frame : 4 hrs
Scale Type : line chart + Candle Stick
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🔗 Key Technical / Direction ( Short )
Type : Mid Term Swing
——————————
Bearish Retest
1.25800 Area
Reasons
- Major Turn level
- Trend Retest
- Choch Area
- Fibo Golden
Bullish Reversal
1.24000 Area
Reasons
- Fibo Golden
- Pattern Target
- Choch Zone
- Fixed...
Criteria for GU
. breakout from the descending triangle
. Entry point from 2hr candle( last bullish candle that broke structure to the down side)
. Target point ( 4hr swing low)
I'm looking to take the sell if price makes a valid retracement to the preference OB on the 2hr, things might be slow or not but I'm keen on sell for the GU as we anticipate NFP on...
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The price moves smoothly into the long area. On Friday I expect to receive an impulse growth against the backdrop of the same decline in the labor market.
First target: 1.26700
Final target: 1.28000
