Price is rising slowly towards our major resistance level at 1.3613 (61.8% Fibonacci extension, horizontal swing high resistance) and a strong drop could occur at this level to push price down to at least 1.3466 support (50% Fibonacci retracement, horizontal pullback support).
Stochastic (34,5,3) is seeing major resistance below 98% where a potential...
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...
Attending the theory of trend lines, and using fibonacci tool and my theory of key levels Monthly, we find a possible purchase to capture a few pips, after that enter a sale that takes the price to the line of accelerated trend, the lines Orange are resistances or supports in Teporalidad Daily, the yellow lines are fibos in temparalidad of 1 hour, the white lines...
Good Day!
GBPUSD BUY!
Supporting Analysis:
1. Weekly Breaks the resistance and Have CB1 (Candle break 1) Used Fibonacci retracement for the next pit stop.
2. Monthly theres Divergence according to AO ( awesome Oscillator )
3. H4: Candle closed outside of BB. Means momentum Buy.
Buy Till the next zone (1.40459 - 1.42844)
Cheers!
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 forms new triangle
Yesterday’s plunge to the 1.3330 level with the subsequent return to the 1.3400 mark points out that fluctuations of the cable are framed by the minor symmetrical triangle pattern. Theoretically, a combination of the weekly and monthly PP strengthened by the 55-hour SMA should a necessary support for a breakout to the top. However,...
GBP/USD plunges amid Brexit news
Due to existence of a strong selling pressure in the area between 1.3440 and 1.3450 marks, the cable could not climb higher and was forced to make a rebound. However, as this turnaround matched with news coming from Brussels, the Pound lost more than 100-pips against the Dollar and ended the week at the psychological 1.3300...
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
GBP/USD struggles to bypass monthly PP
In line with expectations, the overall optimism related to progress made on tax reform and decreased probability of a government shutdown continued to push the cable downwards. Although the pair has crossed the 200-hour SMA, the further plunge was temporarily stopped by the monthly PP at located at the 1.3372 level. But...
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...
GBP/USD reaches two month maximum at 1.3550
As it appears from hourly chart, the 1.3550 mark signified the two month maximum that the cable could not surpass. In result of a rebound, a new junior descending channel has been formed. The pattern is expected to stay in force at least until the rate will reach support set up by the 100-hour SMA and the weekly PP...
GBPUSD the pair early gain yesterday after reports surfaced that an initial Brexit deal between the UK and EU was close to being reached but it reversed course after this confirmation that no deal had been reached yet. The losses may be limited for the time being, however, as both May and Juncker were optimistic that an impending agreement was still likely.As...
Pending Long @ 1.3100
Stop Loss @ 1.3030
Target @ 1.3350
RR Ratio @ 3.57
Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
GBP/USD jumps by 1.1% amid progress in UK and EU talks
As it was warned yesterday, publication of encouraging news from the United States one after another led to notable appreciation of the buck whose surge was stopped only is support zone located around the weekly S1 at 1.3231. Since the rebound was based on reports that Britain has finally managed to reach a...
