price making higher highs which is confirming my bias that GBP is stronger than USD at the moment. just had a break of structure so i reckon price will advance further testing resistance level at 1.55046
Potential 150pip drop here! 1.Price break below 200SMA. 2.Bearish divergence on RSI 3. Downtrend continuation 4. $ Strength on all pairs R
The UK has its inflation report next week. I personally think Core inflation will come in lower. Headline inflation is forecastedto rise suggesting that demand for basic goods and services are not as strong as the BoE will have us believe. The Dollar continues to rise. NFP gave the USD a big boost on Friday and the FED remains on course to hike rates this year.
PRICE STUCK IN A RANGE. BASIC SETTUP (BUY AT SUPPORT, SELL AT RESISTANCE)
Intraday Bullish Butterfly opportunity on GBP/JPY provides good Risk/Reward for pair.
Intraday Bullish Gartley opportunity on EUR/GBP provides good Risk/Reward for pair.
Intraday Bullish Gartley opportunity on GBPUSD provides good Risk/Reward for pair.
I have mapped out RED confluence zones where price can reverse short term. These zones are also known as Daily Demand and Supply Zones. I believe price will continue its downtrend within the Trends lines mapped out in black. There is also a dynamic trend line that has so far been respected which is the Green 21 SMA. Price is currently in a RED Supply Zone and...
looking to sell on any decent rally which is what we are getting now. Trendline is in confluence with the 0.618 fib level and support turned resistance structure. also in line with the fundamentals as the BOE are dovish.
Entry = + CCI cross. SL= D point @ 1.4951 TP1 = 100% fib @ 1.5267
I will be monitoring this potential setup this week heading into Monday & Tuesday. We have Fed Rate release on Wednesday so much like last week, I will anticipate my weekly quota before Wednesday's fundamental economic driver. If we exhibit strong bullish technical at a ICT Killzone being London Open and or New York Killzone I will look for a "bounce", not a...
My target price of 1.5260 has been successfully hit. That was a 400 pip move! I hope those that follow me benefited from my analysis. I am no longer in any trades on this pair as I have hit profit and I am strictly short bias on this pair so I will wait for price to enter the RED SUPPLY zone that I have highlighted to enter any short positions. I am keeping a...
UPDATE: 22nd December Price has returned to the channel after the fake breakout and has tested its strength creating a 240min red SUPPLY Zone which has been tested twice. I have added another ABCD fib extension using 28th October pivot high as A (1.6180), 14th Nov pivot low as B (1.5594) and C (1.5821) was a 38.2% retracement of B. My D extension target will...
After a trend line break to the downside we now see lower highs still in play on the daily and yet to make a new swing low. Cable still in a box range with a couple false breakouts awaiting next range drop (Pink Lines) to my next target the 1.618 fib extension once price breaks from current confluence (Blue square) A retest to the daily and weekly trend line...
I am pretty much convinced after yesterdays 17th Dec 2014 Bearish day candle engulfing (Marubuzo candle) the range that GBP/USD has been consolidating in since 14th November and that cable has continued its downtrend. Based on ABCD Fib extension there is more downside to be seen. Price should continue testing the outer trend line creating Lower Highs. Price has...