Following the brief sell off the week before, sellers dipped their toes towards 1.2000 and failed
Buyers spent all last week slowly pushing though and break through two levels (marked Resistance Level 1 and 2 on the chart).
Seasonal wise, we have approached a point where the weighted and all-time seasonal trends diverge
Given how oversold GBP is on all the...
We have lots of factors going on here, after a rally in one direction (down) especially a sharp one like we've seen this week we would expect a return rally...
Confluence of support and weekly trend line makes this a great area for a trade, we have divergence on the RSI and increased volume through the ATR...
I've taken one risky trade as it gave me a 10:1 which...
GBPUSD - Intraday - We look to Buy at 1.2440 (stop at 1.2405)
Continued upward momentum from 1.2382 resulted in the pair posting net daily gains yesterday. The 261.8% Fibonacci extension is located at 1.2576 from 1.2382 to 1.2456. The previous swing high is located at 1.2578. Preferred trade is to buy on dips....
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2495.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=1.2475.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
Price has just extended an expanding triangle and approaching a double bottom.
Keeping an eye on the nature of the candles to see if it forms a reversal descending channel.
Looking for an entry on the double bottom value area. Lots of room to the upside.
GBPUSD- Intraday - We look to Buy at 1.2490 (stop at 1.2450)
Bespoke resistance is located at 1.2574. In line with resistance, selling has been posted from 1.2572. A 5 wave bullish count has been completed at 1.2572. Expect trading to remain mixed and volatile. The medium term bias remains bullish. Bespoke...
GBPUSD - Intraday - We look to Buy at 1.2490 (stop at 1.2450)
A 5 wave bearish count has been completed at 1.2439. Buying posted in Asia. Bespoke resistance is located at 1.2575. The 261.8% Fibonacci extension is located at 1.2539 from 1.2439 to 1.2477. Risk/reward is ample to call a buy trade. Bespoke...
Possible sell for GBPUSD. Price has remained under both the 200 and 50 EMA indicating a short bias. Price has recently broken out of a monthly trend line, descending triangle, and it seems to have retested the trend line within 1 day, this can indicate that there will be a strong move towards the down side. I have placed a big trade with a stop loss of around 35...