The GBP/USD chart has recently been moving in a bullish direction on the daily chart since the lowest low in march of 2020 due to the start of a pandemic. Because of this I looked on the 4 hour chart for a potential pull back to go long and follow the positively correlated channel. I used a diagonal line to show the support since march 2020 with a support line on...
As published on October 10, GBPUSD outlook remains bullish. A pullback towards 1.30000 with a rejection candlestick will likely cause the pair to commence another rally to the upside...
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
". There is still a possibility of temporary retracement to suggested resistance line (1.3003).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. GBPUSD is in a range bound and the beginning of downtrend is expected.
. The price is above the 21-Day WEMA which acts as a...
. There is a possibility of temporary retracement to suggested support line (1.2805). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. GBPUSD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
Again, no trade taken because GU was so up and down with no clear direction even above 1.30.
However, we have now seen the break and retest of our key level and the buys shown earlier in the week would have seen you take a nice 4% or move stops to BE and be taken out.
We may not take an entry next week with GU either. Between Brexit and Election in the US, could...
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.