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The GBP pairs have been under a lot of pressure recently due to the current fundamental circumstances.
The attached chart shows the GBPCHF pair on a weekly chart which shows that the downtrend has not been broken yet !
As you can also see the RSI has pushed beyond low positions at 11.9 which shall support a bounce back to much higher levels.
Potential trend...
The British pound has been facing a lot of pressure downwards lately because of the current on going news.
Yet, be aware, downtrend could be ending very soon, the attached chart shows the Weekly time frame for the GBPCAD pair, and as you can see the downward channel has not been broken yet.
As you can see also the RSI has pushed beyond its low positions which...
GBPCAD price has dropped dramatically reaching the weekly trend line, also the pair is oversold on Daily and Weekly timeframes.
Go Long with SL and TP as shown on chart.
The pair has broken the long term weekly uptrend and the 1240 support area.
We are still very bullish on this pair and expecting a rebound back to 1280 - 1300 area despite all the negative ideas that it is descending below 1200.
Strong RSI divergence shown on daily time frame which should retest 1265 and if was able to break will go straight to 1282.
The pair is currently standing at an ideal price to sell specially after last Friday's candle close.
As we can see we have a clear divergence showing on the RSI on the daily timeframe.
price should pull back to reach the 38.2 Fibonacci of the previous wave at 0.9730
Recommendation :
Sell at :1.00200
Stop Loss above the previous high at : 1.00800
Take profit at :0.97400
Sell USDJPY from top of daily channel at 112.600
Price is still moving in the daily downward channel and shall return back to 108 - 105 area as shown on graph.
Stop Loss at 114
Very good buy opportunity on XAUUSD from 1240
Stop Loss: 1230
Target Take Profit: 1300 - 1304
Please make sure to adjust you risk management according to your capital.
Good Luck!
Price has been rejected multiple times from the 1.1520 area, RSI daily is showing clear divergence on the Daily and H4 time frames.
Expected to retest 1.20 to complete the Head & Shoulders pattern before failing back to 1.10
Price has been rejected from 1.1520 3 times and failed to break.
Expected to go back to 1.20 before coming down again to break the uptrend.
Price will remain bullish till 1.20
A look at the weekly forecast for the USDCAD.
The pair is forming a weekly pattern similar to the one shown previously.
Price expected to fall till 1.30 - 1.275 Area
If managed to break the uptrend channel next target will be 1.20
Testing weekly trend line , be aware support cannot be broken unless by breaking trend line .
expected to retest 0.70 - 0.715 range before breaking downwards.
Strong RSI divergence on Daily and Weekly timeframes.
NZDUSD
NZDUSD testing weekly trend line, be aware support cannot be broken unless by breaking trend line.
expected to retest 0.70 - 0.715 range before breaking downwards.
Strong RSI divergence on Daily and Weekly timeframes.
