The ECB meeting has triggered an upside break above the daily trend line. Price will pull back inside the trend line and most likely to the 50% fib level at 1.42514 before breaking becoming exhausted which will present a long entry. Price is likely to advance to the 76.40% fib level before it becomes exhausted and is likely to consolidate pending another...
GBP/USD Hourly 1.4076 Overview : Market managed to fell to test support 1.3845 as we see over the chart, while managed from there to rebound toward target zone 1.3960-1.4000 as we advised before on Tuesday. Britain published construction sector PMI: 54,2 that is lower then the forecasted 55,5. The pound did not receive support from the black gold market...
On Friday 2/26/2016 the Bulls will come back with a quick push after today's performance. That is all contingent on 08:30 Goods Trade Balance(Dec) doesn't push the bears into a stronger position. Tomorrow is news day but we can all hope.
It might seem risky after the fall off the cliff. But at the same time this trade has a good RR. MACD daily divergence in play. Trade with care.
The trend is your friend in FX but not when the trend is at the end. GBP has been crushed across the board for 18 months now and we are entering extreme areas on GBP/USD. On this Monthly chart we can see that GBP has bounced historically somewhere in the area shown. The problem is that this area is 500+ pips wide. Traders need to be vigilant and although the...
- GBPUSD has just ran into a Major Support Level - We have an Open Gap well above us - If I can find a reason to get long then I will - Right now I'm looking for a Double Bottom to occur on the Lower Time Frame Target #1 - Next Level of Resistance Target #2 - Gap Fill Stops - 1 ATR Below Double Bottom (if we get one)
Potential reverse at this zone due to :- 1- completion of Three drives pattern. 2-completion of ABCD pattern. 3-completion of butterfly pattern. 4-valid structure level.
This trade analysis is part of my diary. Please let me know if it was helful but also your suggestion for improvements Daily Pivot points: Price rejected WS2 and closed above MPP Support/Resistance: Price at the resistance EMA: Price approaching 21 after 55 was respected previously Trend: Consolidation after down trend Structure: LL,LH,HL, waiting for...
This pair is in consolidation mode with a forming diamond pattern, will have a huge move soon.
SUPPORT FOUND AT 1.42900 OSCILLATOR READINGS OVERSOLD MOVE UP TO .618 FIB LEVEL PLEASE FEEL FREE TO COMMENT
SUMMARY: The primary trend of GBP/USD is bearish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining above 50 day SMA and taking resistance of 200 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 1.4405 and support at the level of 1.4175. If it breaks...
in my technical view GBPUSD going to UP, because GBPUSD have 2 Supports. also have Gartley pattren.. with Bullish Channel
Buy Limit @ 1.45 SL. 1.434 TP. 1.457 1.463 1.47