Good Morning Traders, The GBP 60 minute timeframe currently presents a small consolidation with the potential to break to the upside. I've placed my entry order at the 1.32436 level (red line) however will be watching the markets throughout the day to make sure the first fib level holds. I'm expecting the consolidation to break out today. There is not much...
I opened buy order on GBPUSD at 1.3204 SL - 1.3155 TP - 1.3380 RRR - 3.59 Reason - Price was breakout 4hour and 1hour angle level. SL 50 pips. And 178 pips to renew near high. If GBPUSD now has good volatility so it can be good order.
Monday, Tuesday and Wednesday - has main news for GBP pairs. But pair has big long impulse on 7 feb. And next - 3 lower lows on correction. So right now we can open long position on GBPUSD on 1.2920 SL on - 1.2851 - near 70 pips - big SL so use not big order volume. TP - 1.3100 and RiskRewardRatio - 2.64.
The last time The Fib welcomed GBPEUR anywhere near the 50.00% marker was way back in April 2018 but that is exactly the minimum we should expect, possible small retracement to the arrows as we are pushing our luck with the BB and then normal business to resume, in all likelyhood there will be no pit-stop and she will keep on keeping on. NB the last time she...
As I mention before , Brexit or no Brexit, Buy this pair at the demand level. I had my long at 1.2479, 1.2510, 1.2533. All 3 is currently in Profit. First target 1.2700. 2nd Target 1.3000
Fundamentals:- We have quite a few data announcements out this week which suggest an increase in average hourly earnings, cpi and gdp. After the sell off on the GBP today I would suggest this is just a price correction from Fridays up leg and we should see a further increase on the GBP especially against the weaker currencies such as the JPY. Technicals:- As you...
GBPUSD at support zone. look at the chart , wait for reaction.
Fundamentals:- The trade war between the US and China will put pressure on the EURO as it imports a lot of goods from China. The GBP has been hit hard with Mark CArneys comments after the rate rise but a good average earnings figure and y/y CPI next week could change the path. Technicals:- I am looking for a pull back on the recent sell off to the psychological...
Fundamentals:- We are taking a short term Fundamental view on the GBP/USD at the moment. The USD has gone from strength to strength for many months now; every so often it will produce a pull back and some profit taking. The short term data has been a little worse than expected and with the MPC changing its interest rate vote recently we could see a continuation of...
Fundamentals:- After a failed trade on this currency pair today we still believe the downside is imminent. Why? After a subdued super Thursday from the BOE and no change in either rate hike or votes by the MPC. Mark Carney later said in an interview with the BBC that it was likely rates would rise before the end of this year. With the outlook for Europe pushing...
Fundamentals:- As the alternative scenario from our original trade plan looks to be playing out we are now looking to trade the GBP/USD as a long position. The retail sales figures as expected where better than previous but no real shock to the market. This means that the GBP could still be adding value based on the rising wage forecast tomorrow. Technicals:-...
Hello Guys, Pretty nice formation in the last 24 hours. For now, I'm waiting for a close above that resistance trend line and for that reason, I will place a buy stop at 148. My trade plan is here forex.today
If we break the neckline there are three potential spots we could move to, pick your preferred target. We could even go to pre-Brexit levels. Personally I would wait for a break and close below the neckline and then sell a move back into the neckline. It might a bit early to call this but better having something on the watchlist than looking back and missing a...
buy @ 1.20154 Right at the entry level we have major weekly support providing further downside protection.
bat: buy @1.25346 gartley: buy @1.26175
Gartley pattern: buy @1.64183. As this is a deep gartley it has a fabulous risk-reward profile! Cypher pattern: buy @1.61937