A pretty good ascending triangle forming clearly on the GBP/USD 1-hour chart which is applying strong bullish pressure on the $1.2845 - $1.285 resistance level (white horizontal line).
- After failing multiple times to pass the $1.275 support line (red horizontal line), the cable is now gradually proceeding towards the $1.2845 - $1.285 resistance level.
Descending triangle on the GBP/USD:
- Price keeps bouncing off $1.29 support level (red horizontal line)
- 1-hour chart clearly shows a perfect example of a descending triangle, getting narrower between the upper downwards trend line and the major $1.29 support level
- Given a situation where Brexit trade talks fail and tensions rise even more between London and...
Really nice bullish continuation here on GBPUSD's 4H chart supported by the bullish daily move which indicates further upside as we are in a zone of trading.
DXY showing big weakness generally... so we expect bearish USD today.
GBP Volatility is dropping off back down to the floor that is firmly set at 6.00
This has been a strong support for pound volatility for years now so buying GBP Vix at this level should provide relatively good gains from a bounce up to 16.00. It could go higher if there is new trade tensions with Europe and the Brexit saga continues
I am now entered into a long term buy & hold position on GBPJPY.
Price has broken out through multiple resistance levels last week on the back of the new conservative majority. Thursday/Friday saw the fast money come in to the markets with heavy short term buying.
Price is now consolidating probably caused by profit taking on the speculation trades and the...
High risk analysis considering the UK election results are this evening, however...
GBP is stuck in a nice 100 pip range on GBPJPY.
143.500 resistance holding now. price is looking to bounce back down to support at 142.500.
At the 142.500 level this is a nice bullish trendline and support. This is the area to watch for another trade opportunity on either the...
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As we can see here, there is an enticing level of so called resistance on the daily and the 4 hourly chart. Price has moved away from this area and novice traders have gone short. It is very easy to predict where stop losses will be. Notice the decreasing volume as price shorts away from the "resistance". If the collective amount of people doing the same thing...
Currently analysis showing a bullish pennant / bullish triangle pattern. Still very hesitant to get in on any GBP for the following reasons:
- Price is too high to start entering
- Major move has already taken place
- High volatility due to Brexit
To be a bull in this situation:
- Wait for confirmation of the triangle break as the price is very...