Currently the price is forming a bearish channel, sometimes I call it compression. usually if there is price compression like this, it will look for the strongest support area before continuing the impulse wave. if you see the red area as daily support & fibo retracement area that intersects with each other, then there is a high probability that the price will...
This analysis is a reinforcement of the previous analysis, I used a larger time frame to find another point of view, and my perspective still says that the bullish trend is still happening with more or less the same target as the previous analysis.
if you look at the shape of the swing structure that occurs, at first glance it looks like a cup & handle pattern will occur. we only assume based on market habits, usually if a curve like this has been formed, another shape will occur. At least we can anticipate, if you want to go long, it's better to wait until the price retraces in the H4/D1 Support area....
D1 GBPUSD analysis shows price chasing the 0.786 fibo extension area. the area is also a price target exposed to imbalance.
the price responded well to the SnD area and now it is back to bearish, we need to wait for some confirmation to confirm if wave b is complete. the short term target is to the trendline area and if the price continues to drop then we can prepare to short when there is a retrace.
Weekly the important part for me is the test of weekly fvg or a possible tap of order block on Daily looks like a perfect setup for a liquidity raid
GBPUSD approaching a resistance. Potential that we continue higher as the U.K. vaccination pace is doing far better than the U.S. especially as vaccine supply is drying up in L.A. and N.Y., the two most populous and economic cities. I believe the recent rise in yields is giving the USD some strength, as we can see with a potential EURUSD bounce around 1.19750, so...
I expect gbpusd to finish the c leg of wave (4) correction before we see another bullish move.
GBpusd is printing an emerging shark pattern with a minimum termination of the D leg to be at 1.26800. This is also in confluence with the elliott wave analysis that we are expecting the double combo (W-X-Y) correction to complete at this region.
GBPUSD as analyzed since last week, as started the bullish impulse wave after it has successfully completed its A-B-C Elliot wave corrective structure. We continue to ride this buy to a minimum of 1.35000 psychological number Goodluck
#OutLook 21 to 25 September Dear Traders Today We Have an Analysis Of GBPUSD H4. This Analysis Based On Price Action Theory. According to The Analysis, We Can See That After the setback Market On Down Trend Formation with Trendline. Last Friday Price Reject On-Resistance with Trend support. So Behalf On the That we Have Some New Supports Level 1st @1.2724, 2nd...
Having a look at where price is currently. Price has been finding selling pressure at the zone in the middle at the 1.2700 level. The first 2 touches of this price has shown that there are a lot more selling, further to this on the 3rd attempt at this zone, price found pressure a few pips lower. Between 1.2700 and 1.2600 price has started o move sideways with...
GBPUSD: 4 Hour cycle is bullish against 10/7/2016 low (1.195) low while the 1-hour cycle is bearish against the 4/17/2018 high (1.4377). Rally to 1.3474 ended correction to cycle from 4/17 high. Near-term cycle from 7/09 high is expected to complete soon then pair is expected to do a bounce in 3, 7 or 11 swings before further downside is seen provided the pivot...
Hi All, Here is my weekend Analysis on this pair. Please note that this is only a guide I do not trade in the weekly time frame. Happy Trading.
Buy above 1.2510. Stop loss at 1.2421. Take profit at 1.2651. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly as expected. We now remain bullish above 1.2510 support (Fibonacci retracement, horizontal pullback support) for a further push up to 1.2651 resistance (major Fibonacci extension). RSI (34) has...