The exchange rate may continue to move the band. Therefore, the primary target price for the current movement is the top of the bar 1.32497 From the current level this means 5% movement. Sufficient profit for intra-day trading.
Price tested and retested resistance line at least 4 times at 1.27850 before breaking it pushing to an uptrend. Harmonic pattern identified with highest point of current trend being at the D point. Price tested the new resistance line and the market pushed down. Multiple teacup signals throughout this currency pair.
- Wait for confirmation...
Price has been pushing higher this past week.
there haven't been any real strong moved and mostly moved sideways.
Ill be watching the 4hr demand zone for potential longs.
First target of most recent highs offers a rr of: 3.9 :1
Secondary Targets would be the next set of highs at the 1.32 level offering a rr of 6.6 :1
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.
As you can see price is at a resistance level but has broken through or trendline, if price can break and close above our resistance we could be looking at a push to our zone ( red box )
We will have to wait and see how this trade plays out and update our clients accordingly.
Orders can be placed a few pips above resistance level, this way if we do get a break...
The British pound continues to hold onto gains above the 1.3200 level against the US dollar, as traders factor in a possible rate hike from the Bank of England in August.
The GBPUSD pair failed to gain traction above the 1.3300 level, as traders booked profits from the 1.3313 level.
GBPUSD buyers will look for further upside above the 1.3316 level, while sellers...
We are in a phase of retreacement of the gbpusd. Don't be fooled by the great bearish movement because the great movement in the medium term is very bullish. It's recommended to wait for buy signals (It's predicted that within this week it should already be giving bullish interest)
Remember ,wait for the bulls to apear and we are goingo to arm this pair. We are...