Wait for a reversal pattern to form in the Buy range 1or 2, Looking to target 1.30000 & 1.32000. We can see 1.28000 area is supported ed by the 50% fib, over the week we can see the dollar getting softer that help this pair gain bullish momentum. Due to the Brexit deadline approaching we can see a lot of noise in GBP pairs as headline appear.
Possible long for GBPUSD. A lot has gone into this one. Ill start off with the inverse head & shoulders, marked out with the fat green arrows, we can see that this has occurred and could indicate a long bias. We can see that the upper trend line has been touched at least 3 times therefore validating this trade and we can also see that the time in between each...
GBPUSD Long opportunity by utilising the weekend gap down on open.
The rest of the analysis for a long bias is the bullish trendline, fib 0.618 retracement and the structure zone at this level on the chart.
Stop loss = 50pips
I will move my stop loss to breakeven when the gap is closed.
We can see a strong support ( green line ) that price has been respecting and failed to break recently with a few spikes through the level but failing to close below it.
We also have a lovely trend line ( TL ) that price has been using as support bouncing off it on its travels, we can only see further bullish movement as price continues up our TL making higher...
Price has formed a descending triangle, if we get a breakout to the upside I will enter a long position upon the retest of the 1.31900 zone. Conversely, if we get a decline, I will go short upon the retest of the 1.30000 area.
Burger or Fries? ...... I don't even mind - Always FLOW WITH THE MARKET :-) x
GBPUSD Long trade 1:4 RR
Following the trends for the last few weeks I have identified a small range where i will be looking to get a long trade.
This would represent a 4 to 1 reward to risk which i am aiming for.
Any ideas/thoughts pleas share.
Pound/Sterling may hold some surprises. I have spotted a major curve suggesting probability for the upside. Just don't expect it go go up in a nice smooth way. Brexit is likely to hold some favourable surprises for GBP/ pairs in the longer term. Into April, expect high volatility and trouble.