$GBP - Think about a birds eye view...
When trading I like to go towards higher TF in order go proceed to lower TF. Looking at weekly we are within a range of lows: 1.18 areas and highs: 1.23 a break to either direction. We had a mixed view on NFP but we extended higher and dollar declined we could see this theme continue another perspective I was looking at was...
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...
The GBPUSD pair appears to be displaying signs of weakness, with the upward bias on the 1-hour chart appearing to fade. If the price closes below the channel or trendline, I expect it to reach the 1.23250 and 1.231300 price levels. Share your thoughts on this and don't forget to follow me for updates.
GBPUSD, the cable is finding resistance at a price range of 1.19428 to 1.19140, as highlighted in our previously shared idea.
We anticipate that the GBPUSD pair will reverse at the critical support level. See the chart image for clarity.
The market is expecting some volatility later today due to the ISM Manufacturing PMI, JOLTS Job Openings, and FOMC Meeting...
GBP - Where to next?
Looks very interesting on a higher time frame, we could decline further , IF we go below 50 EMA daily close below I expect 1.34200 & lower areas to come into action. If we have a pull back more above than 21 EMA area, I expect bulls to get back in control and re-test the areas of 1.36 higher areas near 200 EMA anywhere above that the TL down...
WEDNESDAY - Half way through the week!
GBPUSD - I like the long side for GBPUSD for months. It's a great trade that has had great momentum, I stuck to my trade plan, being disciplined is key and built long positions along the way - I am now scaling out of my positions!
On my FX weekly I posted out to various groups I am part of - It's FREE to subscribe. It's...
Brexit talks seem nearing to an end. The British pound has been chastised for the last 4 years for an event -Brexit- which has not yet really materialised. At a time when the USD is weakening against all major global currencies, GBP can be expected to move to the upside (TP near 1.43) on the back of successfully concluded Brexit talks. RSI seems positively backing...
What a week! Continual weakening on the TVC:DXY which caused my gold trade to fly through the roof at 320 Pips profit! Ive been thinking a massive economic reversal will be approaching since the lows in March due to the start of the UK's lockdown. My GBPUSD long positions have been consistently benefitting of this as I've been picking up long positions in the...
Hello and welcome back. If you found this post helpful, please leave a like. GBPUSD looks like it wants to reach for the lows below and expand further down. Refer to the related ideas below this post. Thank you.
As I had mentioned in my previous idea, I was looking for a lower objective for the week, but I also accepted the idea of a possible retracement. If my objective was going to be reached, Cable would have needed to immediately expanded to that on Monday. As of right now, the objective I had for the week on Cable may need to wait. I am still overall short on Cable,...
