This pair has been consolidating in a ~200 pip range since mid July. Both monthly and weekly price action shows there is no real bullish or bearish momentum. As can be seen, the range is formulated by the 61.8 and 38.2 fib levels, with the 61.8 acting as support and 38.2 as strong resistance. On the daily timeframe, it is evident that the 38.2 fib is acting as...
Targets are 1.567 and 1.59. Here is a good opportunity to go long on the GBPUSD. Basis to substantiate this is that a spinning top with high volume has formed and rested on the trend channel support. This proves a great conviction that prices will bounce off the current level and approach 1.567. The news release displayed bad data for the USD thus creating a...
We reach to Super Thursday with all market attention on Bank of England Meeting. In Bristish Pound Super Thursday : - BOE Inflation Report. - BOE Press Conference - BOE Mark Carney Speech - BOE Interest rate decision. What does market expect ?. - Consensus hope there are at least two member of BOE vote for rate hike. - How to BOE deals with low inflation in...
Last week the dollar weakened prior to FOMC, helping the Cable rise during the first three days of the week. The UK GDP coming out as expected also supported the rise; illustrating the economy is doing well. In the FOMC statement on Wednesday the FED referred to solid job creation and said there will be an increase in interest rates following 'some further'...
Two potential patterns here on the Cable this morning. A potential bullish bat pattern in blue and a potential bullish cypher pattern in pink. Both should be tradable unless you’re using a massive stop loss for the bat pattern. In that case it’s best to choose one over the other beforehand so that you don’t get yourself into a potential revenge trading situation....
We have a very good bullish setup that just confirmed. The daily corrective downtrend has expired, and there's a 15 day rally forecast currently active. Stop loss should be below the 1.5328 mark, and an entry on a retracement would be ideal. Looking to market buy asap, but ideally a retracement into the green zone would be better, with a tight stop at 1.53775. If...
Alot to explain in this simple chart, In a bullish channel, looking to re-test the lows and the trading range highs at the retracement 61.8% and the final correction for the 05 pattern, The threat comes from the bearish butterfly which will activate its bad face if we break the low of the channel 1.5550 to 1.5444, which will take the price to C at 1.5420 at least.
As you can see we have been creating higher highs and higher lows since April 2015 which makes me assume we have a higher low in play, however price action is bearish with a break of the previous TL portraying weakness. If price action continues to be bearish without any signs of a reversal within the highlighted zones we can potentially see shorts to the areas of...
I have a handful of trades on my radar today but I wanted to concentrate on the GBPUSD this morning because of the multiple opportunities. The main trade that I’m looking for is the Bearish trend continuation setup. This market has clearly broken structure to the downside and if we get relief we have an excellent structure level to predict where our next pullback...
LONG BIAS FOR CABLE, FORMING HIGHER HIGHERS AND HIGHER LOWS, ASCENDING TREND LINE HAS HELD SINCE 2015/04/14, would recommend to trail anystops (1.51690) 500 + PIP MOVE TO COME ON THE PAIR, TP1 AREA IN CONFLUENCE WITH 61.8 FIB LEVEL TRAIL ALL STOPS THIS WILL BE A PIP GRABBER stops around last swing low (0.236 fib level) (Y) [/b ]
CABLE HAS BEEN BULLISH FOR A LITTLE WHILE NOW. THE RECENT PULLBACK BRINGS PRICE BACK TO RETEST SUPPORT AND A THIRD TRENDLINE BOUNCE. WE ALSO HAVE A FIB PLAY HERE AT A 50% RETRACEMENT. TO TRIGGER THE LONGS WE WANT A BREAK OF THE CTL AND WE WILL THEN BE TARGETTING BACK AT THE HIGHS BEFORE SEARCHING FOR A HIGHER HIGH AT KEY RESISTANCE, CONFLUENT WITH FIB...
Entry at 1.54961, Point D Stops at 1.53856, below X point and minor Support/Resistance Target at 1.56402, just below the 38.2 of AD and minor Support/Resistance Invalid from 1.57944
GBPUSD 1.5616 In the hourly time frame, GBPUSD is in a strong bearish bios, looking for a retracement to 1.5690 to 1.5720 Selling this low is aggressive, also buying this low is aggressive Bears, wait for a retracement to 1.5690 - 1.5720, look for buyers to try to make higher high and fail then short Target1/ 1.5614, Target2/ 1.5588, Target 3/ 1.5550, be...
GBPUSD 1.5616 The pair still on a long term bullish bias, however, we have a short term bearish sentiment in a minor bearish channel The Goal for short term channel is to test the channel lows at 1.5350. Bears, wait for a retracement to 1.5710 - 1.5690, look for buyers to try and failed Target 1/ 1.5588, Target2/ 1.5550, be careful, stop loss/ above 1.5788 (Good...
With Cable (GBPUSD) in an uptrend, it is good to join in the established trend in a price area that is low risk. Price should head up and out to ~1.5900. The first target will be 1.5820 for a reward of about 3.5xRisk. The strong move away from the zone shows the trend could find new strength when prices pull back. However, a trend reversal seems close...
Drawn S/R on W1 very strong levels, Fib retrace shows 38.2% reversal occuring CCI Dropping. First target 23.6% - Second 0% - Stop on kumo support but will we test it at all? who knows :)
I changed my view on this pair and I think we're witneseeing the start of a very strong rally, which could reach the 1.74 to 1.84 zone in time. Analysis on chart. I will update with my long entries, looking to establish a longer term position trade in this pair if my analysis proves to be correct. Good luck, Ivan.
On Thursday the GBPUSD broke a very important structure level around the 1.58 even handle. Since that moment I had to redo my I.P.D.E. and shift my focus from a potential short at that area, to a potential long to hop on the underlying trend. In yesterday’s update I told you guys that I was looking for a retracement and you know what it looks like we’ve got one,...