If we see the movement of price action US Dollar / Pound Sterling then it giving easy profits within the channel by hitting bollinger bands support and moving up even most of the times it is not hitting the channel's support but moving up after hitting the bollinger bands.
But this time it is hitting the channel's support and the lower bands of bollinger bands...
The British Pound passed through the support of the 62.30% Fibonacci retracement level to depreciate against the US Dollar to the 1.2848 mark.
It is expected that the currency exchange rate will break the support of the medium pattern line at the 1.2845 mark to decline towards the weekly S2 at 1.2718. Besides, the 55-hour simple moving average is trying to catch...
The British pound depreciated 0.89% against the US Dollar since Friday’s session. During the previous session, the rate passed the 55-hour and the 100-hour SMAs supports together with the 50.00% Fibo and the weekly PP level to stop the trade at the 1.3101 mark. On Monday, the British pound was located below the weekly PP at the 1.3127 mark.
In regards to the...
The British pound appreciated 0.38 % against the US Dollar since Friday’s session. On Monday morning, the British pound returned in the pattern to trade at the 1.3077 mark.
During Monday’s session, most likely, the rate will surge upwards to the 1.3080 level due to the support of the weekly pivot point at the 1.3055 mark and the 200-hour simple moving average....
GbpUsd - Daily - Longs in play.. price trading in a bullish structure making new higher highs and higher lows.. the trend is bullish so we are buying on a pull back
Initial support is seen at 95.95 – 95.75 followed by lower support at 95.0 – 94.75.
A bullish follow through above the first support with a breakout above 96.55 which marks the bull flag’s high could signal a longer term rally that could see 97.45 followed by 98.55 levels being marked as the minimum price objective here.
The bullish view could, however, turn...
Reasons for
-Firstly on 4 hour chart we clearly see a down trend which has been broken
-We can also see price has broken major trend line which acted as RES
-Since we made the low of around 1.41000 we have put in Higher highs and lower high
-This signifies a possible new trend forming
-Also if we look at the Trend line acting as Support we have had our...
