Last week, GBPAUD and GBPNZD were identified as potential buys and buyers did not disappoint
This week, GBPCAD could be the chart to concentrate on as price has broken the previous daily high and downtrend
Look for intraday buy setups should price stay above 1.6230
Looking at a basket of Sterling pairs on a variety of time-frames.
(You can add this to your own watchlists by copying this code: GBPAUD*GBPCAD*GBPCHF*GBPJPY*GBPNZD*GBPUSD*GBPEUR)
There appears to be some evidence of a bottom shaping on the 4-hour chart.
Expecting a bumpy ride with Sterling, but I believe the Risk/Reward is looking favourable in the short...
Price action looks to be forming a bottom.
A bullish reverse Head and Shoulders is forming.
We have a 38.2% Fibonacci pullback level of 1.2115 from 1.2075 to 1.2240.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
We look to buy dips.
We look to Buy at 1.2120
Target 1: 1.2240
Target 2: 1.2270
We have already noted that this week promises to be calm but The Jackson Hole Economic Symposium is an annual symposium, traditionally gathering representatives of all the leading Central banks in the world, might give enough reasons for bursts of volatility.
The most vulnerable are the euro and the dollar. Weak inflation in the Eurozone (yesterday's report...
as we can see here on the EUR/CHF chart that the market has been trending with a downward trend for a while now. with regular retracements and patterns to then have moves creating lower highs an lower lows. the current market state we can see that the market has had a retracement at a previously broken support area and has now used it as a resistance area. with...
Gold priced in GBP£ is nearing all time highs as the British pound continues to see bearish sentiment.
Will we See gold break all time highs and hit £1200 per ounce??
we are currently seeing some consolidation as the market decides on what to do next, we may see a pullback towards our Fibonacci support and previous resistance area before a move higher.
It's been over two weeks since I last posted on TradingView. I've been very busy focusing on my trading and making sure my premium members were progressing in my signal group.
However, I am back now and have spotted a great opportunity on this pair.
I hope to catch the pullback and catch around 80 pips. Having said this, if my target hits before hitting my...
Looking for further downward momentum today, nice break of range and signs of further momentum.
GBP is in poor shape currently and on higher time frames we have no reason to believe this is near the end of the new lows.
This pair has shown a strong bullish momentum yesterday and looks set to continue this today.
I have drawn up two potential buy zones on this 4 hour chart.
Looking to enter on pullbacks to these zones.
Trade safe and good luck!