Not going too in depth with this analysis, but as you can see the all the technical confluences would make it rude not to be looking for a short on this pair. We have the 0.960 area that has acted as an area of support since early Jan 2017, before finally being broken in mid Aug 2018. now price has came back up to retest this area. Not only that but as you can...
As we can see from the chart attached above, it may look like the USD bulls are picking up steam again as the GBPUSD gets rejected from the ascending trendline with a doji candlestick forming yesterday and a nice bearish confirmation candle candle forming today after the FOMC rate decision which was inline with the consensus of leaving rates unchanged at 2.25%....
Not much to say here folks, we can see it playing in between this ascending wedge pattern. Plus its at an area of previous resistance turned support.
Good Technicals, decent fundamentals anddddddd a good R&R (Risk to Reward), make this opportunity a little too good to pass up!
Hope you enjoy! Feel free to like or comment, as long as its positive!
Regards,
Alex
Nothing too fancy here just some obvious price action that I see has given the opportunity for a nice trade set up.
nice upper wicks at an area of previous support and resistance show selling sensitivity which is a good indicator that sellers area in the area.
Hope this trade idea helps! Feel free to comment or ask questions, I'll be more then happy to respond...
Hey Everybody, Alex Here!
As you can see I'm currently eyeing a nice long set up on GBPNZD. I know everybody is bearish (bad) on the GBP at the moment due to all the discord concerning the Brexit talks currently taking place in Brussels. Even thought the overall sentiment towards the GBP is bearish (bad) and this trade is favouring GBP strength over the NZD, the...
Hey guys Alex here!
Apologies for the terrible mic quality and even worse commentating (ahah), but I hope you still got my overall point.
Theres currently a lot of uncertainty in the US; *cough* Trump *cough*, and in times of relative uncertainty we often see a safe haven currency like the JPY gain some strength, as I'm sure you could see for the past 2 weeks...
