Based on my analysis and theory, GBPUSD will be short for short-term
You can see the resistance level that put GU fall to around 1.354 support area and once it breakout the support area then it will fall more further to around 1.344 support area before we see GU going back up.
This is my personal view
Trade at your own risk.
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GBPUSD is looking for support after failing to break 1.37. so we have fallen back to 0.5 fib, high volume and the ema 89 as trend support. despite the bullish dxy we may still get a bullish move in the pair, after the big weekly consolidation breakout
Currently @ former major support levels right now and monthly candle most likely to end in doji can look for bearish potential from now until next year. Found the 1.07800 level to be long term target to hit early next year using harmonic price patterns and harmonic elements. RSI closing in on overbought levels. Everything calling for bearish continuation
GBPUSD broke out of the descending trendline, potential bounce expected !
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We have a Inverted Head & Shoulders forming.
Looking to buy off of the bottom of the right shoulder so I can have minimum risk to the neckline then anticipate a break of that neckline into my targets.
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GBPJPY H4 - YEN has been an absolute misery this week for obvious economic reasons, GBP has had some drawbacks too but has managed to stay above ground nicely.
141.200 is being threatened to set new yearly highs. National lockdown announcement and Bailey's economic speech kept pulling GBP back as it tried to pull away this week from Brexit clarity and trade deal...
Right now GBPUSD is currently sitting at a resistance level. As you can see from my chart price has just touched the resistance level for the 3rd time, because of this we now currently have a potential short opportunity. Short positions can now be opened however if you would like to see more bearish momentum to confirm a potential sell then you can...
4H chart is bullish and since closing the exhaustion gap price has fallen to the 0.618 fib, it tapped this level and seems to have found support. we can look to buy gbpusd and aim for a higher high. with a stop underneath the 0.618 and the pin.
The entry price, SL and multiple TPs are shown on the chart. Please use your own risk management plan.
Our back testing and money management strategy itself is holding until a reverse signal to ride a big trend, but as you will not see the next signal - manage the trade as you wish should you decide to enter.
Not found that crystal ball that everyone else...
Could you find a more volatile pair right now between DXY and Brexit?!
I favour longs on this retest of the daily support, especially with the minor bullish trend line to consider and the fact we have a perfectly lined up fib area.
As always we prepare for buys and sells, so sells we have below the support and retesting the 61.8% fib and longer term descending...
GBP/USD opened at the pre-market of 23rd November at 1.3289; in Monday’s session the pair was rising strongly in the first part of the day and reached the day’s peak at 1.3398 between 13:00 and 13:15 UTC, being backed by positive U.K. preliminary November PMI figures. The manufacturing PMI was at 55.2 against the 50.2 market forecast, the services PMI was...
For the first time in months I'm excited to trade GU this week!
So on the daily, we have a bullish pennant whereas on the 4hr we have a Head and Shoulders. What does that mean?
Simple, we don't take the sell, as that goes against our higher timeframe bias as we're still in an uptrend due to higher highs and lows.
We wait for that neckline to be breached and for...
The retest we've been waiting for!
Push into the previous weekly resistance before buys just to retest the highs created this week - no need to be greedy and aim higher as originally planned!
However, need to see dxy go bearish first.