GBPUSD forming a really nice cup and handle reversal with price breaking our major level at 1.4087. A strong drop could occur below 1st resistance at 1.4087 (Fibonacci retracement, horizontal overlap resistance, cup and handle breakout level) that could push price all the way down to 1.3925 support (Fibonacci retracement, horizontal overlap support).
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Hello Traders!
Hard situation on GBPUSD!
The Wave analysis has 7 ways of priceaction.
Frankly, we're waited rapidly decline 3 months ago, but it's still "alive"...)
Suppose, that current uptrend, will continue accordingly to EURUSD uprising dynamics.
Warning!!! The shadow of "Black Swan" is near.
Best regards, traders team "Powerful Traders".
Looking at the level GBPUSD is currently at and with the daily time frame showing a tight closure on Friday bang on the trend line, we could see this pair begin to fall next week. Tuesday is a very busy day for the Pound with CPI due for release, let's see if it respects the trend or not.
GBP/USD drops below weekly PP
As most of the American macroeconomic data released on Friday did not justify expectations, the cable ended the week in a green zone. Nevertheless, in the early hours of this trading session it started with an active plunge, slipping through the updated weekly PP, the 55- and 100-hour SMAs. An existence of two ascending channels...
The chart provided is a study in the simple use of trend lines to determine if the trend line established on this weekly chart in GBPUSD suggests that there is more downside eminent in the 'Cable'. As long as the trend line can hold price beneath the trend line the shorting opportunities are to be taken and long opportunities should be ignored. Your stop loss...
GBP/USD meets 100-hour SMA
Previous trading session the Pound ended with a 104-pip fall against the Dollar. The support was provided by the 100-hour SMA. Most probably this indicator will continue to drive the cable up to the 55-hour SMA located at 1.3553. Even in case of release of disappointing British Services PMI data the pair is not expected to fall below...
GBP/USD does not succeed to climb above 1.3400
Despite adoption of tax reform and release of various macroeconomic data, the British Pound is continuing to trade against the Dollar in a two-week long symmetrical triangle whose upper boundary simultaneously represents the slope of a larger falling wedge pattern. Because of an empty economic calendar as well lower...
GBP/USD tests 1.3410
In first half of Friday’s trading session the Pound was actively appreciating against the Dollar being fuelled by reports about progress made on Brexit divorce bill. However, once this anxiety ran out and the US posted another set of positive employment data the pair returned back to the monthly PP located at the 1.3372 mark. At the moment,...
Watching the GBPUSD for a short trade at a key fibonacci level on the daily chart. Keep your lower timeframes alert for a short trigger which will confirm the move that will ensue. Lower prices for the pound as long as it stays below the 78.6% fib level
SInce the false break out on our trend has reached our previous low price just to retest before entering our channel again without a bounce. Such cases people who traded the breakout would be hurt, thats why as a pro trader, you DO not trade the breakout, but you wait for the retest and however if there were no retest, then we would procceed on entering the trade...
Price has gained more strength over the past few days and it looks like bulls have finally taken over.
Long Set Up is pending after the pull back. Remember the market moves in a series of Pushes and Exhaustions. We are going to see a Exhaustion before further upside movement.
Risk No more than 2%
Lets see how this ones goes.
GBP/USD is setting up for a good trade opportunity soon. Watch for the 4-hour chart to break above the major resistance/zone to go long or break below the current up-trend to short.
At the moment I am leaning towards it being a long but time will tell.
FOLLOW ME and I will post a new G/U chart when it becomes more clear.
LET ME KNOW WHAT YOU GUYS THINK ABOUT...
GBUSD has entered perfectly into a zone I believe to be crucial in whether the bears will take over from here, as you can see from past turning points this area has shown a strong demand from the sellers. Interesting to see where this heads.
RSI and Stochastic also showing a nice respective move of the trendline, so I think it could head in either direction....
We currently have price action of 1.32141 sitting very tightly under a resistance of 1.32154 . After a strong show from the bears on Friday pushing the price down to 38.20 Fib level the bulls quickly recovered back up to the 1.32 area, closing Friday on another green candle to where we are now. I do believe the sentiment of the Pound is still long, with the...
