So we've just had our GBP releases, this caused GBP to drop nearly 130 pips. This creates a bearish void which must be filled by the bulls. Yes, the chart is down-trending but i believe that we will see VOID filling before hand. So bang, my input is long.
The pair can stay in the channel and have a big move down because of the uncertainty of the election and the political situation in GB. It can move down to the 139-138 area which coincides with the 70%-78% fibonacci levels of the last move upwards, the trend zone support and support zone to trigger a long position
GBPJPY is trapped in a consolidation between support area of 136.00 and resistance near 148.25. In second half of April there was a dynamic rebound from mentioned support, where the quotes without any correction followed to resistance at 148.25
There appeared a bearish response resulting in a correction. This week’s correctional movement abolished 50 percent of...
i've been watching this pair for quite a while, price has finally reached the daily structure i wanted to. Here we have two harmonic patterns already completed (Bat and Gartley) and price has formed a nice double bottom with RSI divergence.
The first way you can trade it is by buying right now, with stops below the lows and targets at a minimum 1,25:1...
136.65 has held up G/J BEARS and the falling trendline shown (red) is holding up the BULLS.
On the Daily TF TDI (not shown) the price is becoming increasingly squeezed with just 14 points covering the volatility bands and the RSI, Market line and Signal line all held within this tight range.
The RSI on the DTF is headed up indicating a general BULLISH look but...
In my assessment of GBPUSD I paint quite a gloomy picture for GBP BULLS and with GBP/JPY sitting on top of the critical 200 sma on the daily time frame, this pair is poised to either sink or swim.
The RSI is BEARISH as is the TDI on H4 but the D1 TDI is more mixed as we have a squeeze and its unclear which way we are going to break. Should the RSI line head for...
For some time the price of GBPJPY has hugged the 200 sma on the DTF. Yesterday saw another touch of the 200 and the price immediately headed north though price declined throughout the day. As long as this pair remain above the 200 we should see a move higher. Adding to this BULLISH analysis is the RSI which has turned north from lower levels.
I'm watching the TDI...
Expecting the 200EMA to cross under the 50EMA line over the next couple of hours on this timeframe. Once the 2 lines cross will confirm a reversal and bullish trend, at which point start looking for good entry points.
i want to wish you a nice weekend by offering you these two harmonic patterns (one is almost complete) on GBPJPY.
Stops below X, targets at 382 and 618 retracement of AD leg.
If you want to ask questions, feel free to write them below.
Otherwise, see you in the next chart!