GBPUSD has shown recently when it has gotten down to support near 1.2365, showing that the level is the line in the sand for buyers as they continue to buy near that level. Currently price around the Strong resistance at price around 1.257. We see the potential for more upside movement in this pair whilst above that level and traders can watch for price action...
Hello,
On the chart I build two pitchforks from projected geometry, the bigger one show price
blasted through the median line after which it slowed down. Now ticking against 1.520
at which we find a beautiful confluence of the fib .618 retracement and daily close resistance.
The smaller pitchfork shows price tried breaking through the median line and found...
Hello there,
GBPUSD is seemingly building a symmetrical triangle on the daily chart.
We are currently experiencing hefty resistance at 1.2552 and might fall down.
Should resistance be broken the next resistance would be at 1.2556
at which a nice confluence of fibonacci, daily close resistance(blue line)
and the 25% pitchfork trendline would be waiting.
Should...
FX_IDC:GBPUSD
A possible 100 pips+ GBP/USD bearish move. Risk:Reward ratio of 1:3.
First target is 1.2305 and the second one is 1.2205 depending on how things turn out.
Always make your own analysis before investing.
Last week we saw price break down and through price level of 1.24251 the next level we want to see a positive reaction is at 1.23656
At this level we want the 4HR and 1HR trend line to break in order to enter in the 15M chart, their is also a daily support level of 1.23570 that will also act as a confluence to trade this.
Will be patient and see what price gives us.
In April 4, 2017,we found a "Crab" bearish pattern on the four hour chart to determine the downward trend signal.
At the same time,the price line is under its moving average(April 3,2017 ), the signal further show that price has formed a new downward trend
The GBPUSD continues to defy the odds. While other currencies such as the Euro and Australian dollar have weakened against the greenback of late, the British pound has remained firm.
I reviewed the pair over the weekend and pointed out the March 29th retest of new support at 1.2410. This was the intersection of former channel resistance and a horizontal level...
GBPUSD Looking to long near the support region around 1.2405 (Role Reversal & S&D) with a stop around 1.2310 region and targeting 1.2720 region.
However, if the market could go lower than my 1.2300 support region, MT bullish will negated and I will look for ST short instead.
Sell below 1.2531. Stop loss at 1.2621. Take profit at 1.2378.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.2531 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance, descending resistance) and we expect to see a reaction from this level for a further drop to at least 1.2378 support (Fibonacci...
and we will take that guys!
Well done to all those holding longs, not been a simple ride given the panic leg we have been experiencing.
Risk to my thesis is a very noisy week on the UK front, lets keep the conversation open here for all those trading this pair and discuss the macro side as well as TA.. it's very difficult to have conversations in the chat now...
Hey Traders,
I have analyzing this structure for 3 months almost, since mid-October.
We clearly have an ABC structure going on after a sharp impulse, the C wave is going on.
It is a great opportunity to look for BUY set ups. The first buy can be the breakout of the last trendline. If not we can look for a fast reversal between the 78.6 and 88.6 levels.
Make...
The GBPUSD has broken the confluence of resistance at 1.2410/20 on an intraday basis. We discussed this area over the weekend as one that could give way to higher prices if broken.
I also mentioned last week’s bullish engulfing candle, which is the reason I ignored yesterday’s bearish rejection from the 1.2410 handle. It’s a good thing I did as the trade would...
