Looks like the GBP is being rejected at the 1.7700 resistance; an inverted H&S pattern could be developing here, but until it's not confirmed I'll keep the bearish bias on the pair.
Neat technical analysis pattern already confirmed on hourly chart; just a few pips before reaching 0.7500 major phycological level. I'm waiting for a shallow retracement to go short
Bearish flag on the daily chart, while on H4 time frame we can clearly see a bunch of bearish rejection candles (printed by my custom script) just in conjunction with the EMA200. I'll sell the break of recent lows.
Daily chart is looking stretched and the H4 time frame offers a nice sell setup; two rejection candles (printed by my custom designed script) hint a downward move could come next.
The current sideways movement is nearing the upper resistance channel; today's pin candle hints a possible downward move is around the corner. Aiming low.
Rising trend line, which was part of a major ascending triangle, was broken 0n 8/11 and now a retracement towards 1.3000 is taking shape; this level lines up with a previous structure (yellow rectangle) plus the 50% fibonacci level. The conjunction of the two could hint a resume in the downtrend.
This harmonic pattern is in favor of the major (down) trend and lines up nicely with a previous structure around 0.9900 We could see a downward swing around that area
Massive rejection candle near 0.9500 (former resistance). A breakout seems unlikely, considering yesterday's RBNZ interest rate cut.
Today's (8/11) and 8/3 daily candles are showing some bullish reaction at the former support level around 40$.
Basic structure trading: former support now is potentially turning into resistance. Look for a downward move.
A combination of technical patterns is taking shape here; both rising trendline (blue) and wedge (orange) may hint a drop in price action. Wait for a neat break of such figures before pulling the trigger.
Post Brexit gap (1.75-ish) has been tested again; reaction printed an outside reversal bar. A downward move could be around the corner
Yesterday EURGBP printed a neat bearish reversal bar; my short trade would trigger below previous candle's low.
If you look at 107 on the daily time frame it was a previous support and not it turned resistance. Dropping on the 4 hours time frame there's a pretty neat H&S pattern, who's neckline is about to be broken
My opinion is the British Pound is still heavy and this could be a sweet opportunity to sell it against the Japanese Yen. Should the pair slip further, I'd enter at the channel's break.
Harmonic pattern taking shape on EURCHF. 1.1200 has proven a stiff resistance to breach in the past and now this bearish BAT could be a valid reason for a continuation in range trading for this pair; plus, with seasonality favoring weak trends, I suppose a breakout is unlikely.
Neckline was broken yesterday, supposed target is 0.7350. Wait for a retracement around 0.7750 to optimize your R/R ratio in this trade!