SHORT CABLE @ 1.24969$ STOP @ 1.25579$ (0.49%) - below EMA 200 (H4) TP1 @ 1.24060$ TP2 @ 1.2308$ (1.51%) Risk/Reward Ratio : 3.09
Cable has seen added pressure due to the US feds inflation rates reports earlier today, the bears are building strong momentum going into next week
Similar to the situation that we have on AUD/USD, the price of GBP/USD has broken out of the ascending channel pictured on the chart and re-tested the local structure. Some sort of a mini range has been formed and it can be observed on relatively smaller timeframes. We are expecting for the price to break and re-test the lower barrier of the rectangular box before...
As it can be interpreted from the graphical illustration, the price has been unable to break above the 1.265 zone of crucial support. Yesterday, by printing a massive bearish candle, the lower boundary of the ascending channel that is pictured on the chart was penetrated. Monitoring the price action, we can observe that currently the price is trying to complete a...
FX:GBPUSD in the past week corrected almost 200 pips. Check connected trading idea from 26-May. Note that probably the cable won't reach the support zone of 1.2380-1.2400 and from here a test of SMA 200 will build a strong impulse upward. Duration of trading idea is 1 week. What is the supported thesis technically for the expected scenario on GBPUSD? -...
Watch the Price Action at Resistance Zone between 1.2700 and 1.2777 A pullback is expected from the above-mentioned resistance zone. Watch out for candlestick formations there. For a good entry also take note of lower time frame candlesticks like H1 and m15 for pinpoint entry. If the price breaks out of this zone then it may retest the level for a long...
Cable to test 1.27400 or above before another move down N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
GBPUSD in the past 12 days been in a strong uptrend after the big collapse. In the next couple of days, the cable needs to make a healthy 40% correction and find support over 1.2400 regions. Follow the price action in the next couple of hours and place stop-loss order above new swing highs. What is the supported thesis technically for the expected scenario on...
Bouncing off demand zone with breaking down trend line ..waiting for breaking out the next supply zone for long trade. confirm it with using smaller time frame.
Only trade for today. Missed most opportunity from morning, nice 1:3 RR here
Final trade of the day! News coming in at 3.30pm see if we can get back to daily open.
GBPUSD H4 Dollar seems to be pulling back and giving it's gains away as we have seen DXY fall through that 103.500 to 103.000 support zone. On this basis, we are seeing cable break above 1.25, another key psychological level. A retest of this 1.25 price would a possible entry price.
GBPUSD Intraday - We look to Sell at 1.2525 (stop at 1.2645) We are trading at overbought extremes. A Doji style candle has been posted from the high. This is negative for sentiment and the downtrend has potential to return. The hourly chart technicals suggests further upside before the downtrend returns. We therefore, prefer to fade into the rally with a...
Tuesday sell with Monday looking to be moving sideways however we could push further up into the 1D FV
This level is fibo cluster of .786 ret, 2.618 ext and 1.618 exp. After a huge bearish move, cable need more time to firm a reversal pattern. But i think it will occur very soon.
GBPUSD Intraday - We look to Sell at 1.2400 (stop at 1.2515) Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. We are trading at oversold extremes. A higher correction is expected. The bias is still for lower levels and we look for any gains to be limited. We therefore, prefer to fade into the rally with a...
In this update we review the recent price action in GBPUSD and identify the next high probability trading strategy and price objectives to target
GBPUSD Intraday - We look to Sell at 1.2420 (stop at 1.2550) We are trading at oversold extremes. A higher correction is expected. The bias is still for lower levels and we look for any gains to be limited. We look to sell rallies. Our profit targets will be 1.2055 and 1.2000 Resistance: 1.2500 / 1.2800 / 1.3000 Support: 1.2210 / 1.2000 / 1.1500 ...