GBPUSD GBPUSD moved quite slowly yesterday after correcting its MA8. The price was no longer able to break support 1.06417 for the second time and kept going back and forth to resistance 1.07258 which is also the current MA8. Use a breakout strategy on Cable if you want to enter this pair. Also be aware of the Daily correction which has the potential to reach...
The threat on the long term chart is unpleasant for GBP, 1.15xx and 1.05xx have been set up. Just at the right moment, because BOE cannot now recapture the short-end of the rate curve with inflation still to reach his goal. To open things up, a simple test below 1.175x is all that is needed with Jackson to unlock the flow; a textbook swing ever since we saw...
📌 @ridethepig GBP FX Commentary for the Yearly Close Here I will start by presenting the following two diagrams: The safety of the Pound turns out to be rather deceptive with a Johnson cabinet which is becoming increasingly weak. And once more, surprise surprise the reason no-deal brexit is being blocked after Biden blockades is a sufficient...
GBPUSD GBPUSD tried to fight back its downtrend today but the price was rejected at 1.08693 while closing the gap that occurred at the beginning of the last week in September. The cable is currently forming a doji in the range 1.06417 - 1.07258 which if this becomes a higher low, there is a possibility that GBPUSd will temporarily maneuver at least to resistance...
$GBP - How low can we go? Tacking back to yrs of data, perhaps we go ahead to George Soros area of chart and going back to 84-87 areas of price action. Interesting times, I think 1.10 could be achievable as we are in recession, fundamentally very weak outlook for gbp and you got dollar king rising further as hikes remain on the table till end of yr for...
GBPUSD GBPUSD fell more than 5% last week with the downtrend getting stronger. At the beginning of this week, Cable probably will make price correction which has not been done yet after breaking 4 supports at the end of last week, before continuing its downtrend and landing at support 1.07258. Possible to take SELL LIMIT 1.11884 SL 1.13880 TP 1.07363 R3...
Use appropriate risk management. Last few posts have been incredibly successful so I'm using lower risk on this one. My strategy is a confidential, but those that trade my posts don't get carried away with my extreme accuracy and how I usually have little to no drawdown - USE SLS! This is a mid to potentially long term trade. The target is lower than GU has...
Possible bearish Quasimodo setup Update on the previous setup
1 MIN TF SETUP for those that missed the first drop this might be your opportunity to hop on the second opportunity 1:8 RR let's see
Looking to short the cable to 1.2500 price is currently retesting the support turn resistance, psychological level 13500 lets go
In this update we review the recent price action in the GBPUSD and identify the next high probability trading pattern and price objectives to target
Using only 1% Risk on this one. Strong risk to reward ratio as usual. Not the end of the world if this doesn't go to plan. Only 0.5% - 1% risk being used. Risking ~24 pips to make ~124 pips. R:R ~ 1:5
GBPUSD GBPUSD again tried to penetrate the support area 1.13502 - 1.13695 for the third time this week and re-ejected. The downtrend is still quite visible in this pair with a reversal point at resistance 1.16714. Tonight's FOMC will determine whether the Cable will continue to fall deeper through this support or start a reversal and end the downtrend. We test...
Cable reaches our TP and it is going further down! GBPUSD breaks the support strongly! Short now or wait for the level! I'll open some of my position sooner than the buying level.
Good news is that we are in profit and bad news is that a new level is forming. According to my experience and long-term back-tests, we better to stay in the trade and the probabilities of breaking of the level is a little more higher than reversing from it in these cases. (Considering trend, formerly levels)
I'm back from vacation which means I'm back on the charts. Today I'll be sharing my monthly chart on the GBPUSD along with focusing on the interest rate differential and the 30 year US treasury bond supporting my directional market profile. Clearly, GBPUSD is bearish and now trading below the previous 2020 low. Currently I can see price having the tendency to...
how i would pertake in the daily bulls for now... see if i can get a retracement to a significant level the buy to my longter sell target...
WE ARE IN A RETRACEMENT LONG TERM STILL BEARISH FOR GU waiting to see what price does above 50% retracement level