During early Easter Monday morning in London, the GBP/USD currency pair is experiencing a drop for the fourth consecutive day, as it takes offers to refresh the intraday low near 1.2400. This is a result of the US Dollar rebounding due to risk aversion and hawkish bets on the US Federal Reserve (Fed), following last week's pullback from a 10-month high. Meanwhile,...
ACL has nicely broken and retested, and prepping to confirm with a BOS. However RSI has come near its trendline. Tomorrow closing above it will be vital for price to appreciate to further!
In this update we review the recent price action in GBPUSD and identify the next high probability trading opportunity and price objectives to target
Back again. FED will be on their target next interest rise, so with that information I suppose that Market starting pricing in this fact. Important will be BoE reaction on this and I assume that they will atleast few times rise, sending Cable upward faster. Corrections meantime are sure thing to grab and shake out retail in wrong direction. If I missed something...
Cable is moving into 5th wave, as we see it unfolding a five-wave bullish impulse from the lows by Elliott wave theory. Cable with ticker GBPUSD reached a multi-year low after a capitulation back in September 2022. Notice that the price is now looking impulsive on a daily chart, clearly within a five-wave cycle, which indicates for a change in the trend from...
Short term - BEARISH Im getting on bearish bias. Cable grapping liquidity from here and will be in need of correction which i consider as needed before another grow. Fundamental to this can be that DXY is also bleeding a lot and will be in need to correct itself before next FED announces/events. Long term - BULLISH As I already wrote. DXY manipulating whole...
The GBPUSD cable pair hit our projected target at 1.24171 without first pull-back to the minor support identified around the 1.21007 price level. With a bearish close on the daily timeframe, the pair is likely to trade back to the first demand zone at 1.20975 to find the necessary support to move out of the trading range condition. The 50-SMA and 200-SMA can act...
GBP/USD looks as if some weakness is creeping in to the chart. On the smaller timeframes we had a TEST of the resistance at 1.235 area during large session volumes, followed by a subsequent retest where it looks as if buyers are exhausted, as they have failed here to push above the resistance during multiple sessions. Looking for volumes to start pulling CABLE...
Hi everyone We currently entering into a strong sellzone for Cable. Protective stops noted in the blue shaded area Based on the 4hr movement - showed us strong bullish momentum. We had a market structure shift to the downside but stops are being targeted and raided. strong believe price will start reaching for lower areas now - BEAR power Target area -...
According to analysts at ING, GBP/USD is currently fluctuating below the 1.2300 level after the Bank of England's recent decision to raise the policy rate by 25 basis points. The economists predict that the pair will soon test the key resistance levels of 1.2420 and 1.2500. Despite the rate hike, the Bank of England did not provide much guidance in their...
I have been recently testing out ICT Concepts. Here is my analysis, let me know what you see...
Our cable trade from several days ago is playing out BEAUTIFULLY lets see if we can get some SUPPORT STRUCTURE tomorrow with CPI Hopefully anyone who missed out can get in before the main rally
IN this update we review the recent price action in GBPUSD and identify the next high probability trading opportunity and price objectives to target
We hold this view as a long term view for the Cable. An ending diagonal in wave C signified the end of the bearish move and a start of Bullish Impulses, we keep holding long positions. First Target at touch of upper channel, Remember we in major wave 5. Long Term Buy!
Fundamental - hawkish comment on rate hike (eventually USD will keep going strong) Technically - It about to hit previous Swing High of 1.20XX Action - do not short YET !!!! just YET wait for rejection at 1.20XX
Cable reached the peak of its recent range last week and formed a downward engulfing pattern before moving back to lows around $1.193. While a breakout is possible here depending on sentiment, with potential targets around round numbers like $1.19 or even $1.18 further ahead, the absence of any obvious driver ahead of the NFP might suggest that continuation of the...