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Fundamental Analysis:- The USD is still the stronger of the two currencies with the FED looking at continuing their gradual rate raises over the near term. Even raising rates a little more than expected to stop Inflation jumping over their target. On the GBP side of the currency pair; Teressa May comes under pressure to resign as 40 of her MP's announce a vote of ...
Fundamentals:- After yesterdays week CPI reading from the UK we can expect the GBP to weaken further against the USD. A rate hike from the US is likely sooner rather than later and although the dollar is still quite high we can expect strength until the rate hike happens.
Technicals:- there is a good support come resistance level at 13393 - 13400 where I would ...
here you can see the hourly chart of GBPUSD: i'm in here because of my higher timeframe analysis that allows me to highlight a structure area (yellow box) from the daily timeframe. When price touches such zones it usually reacts, giving us an edge to exploit the market. In this case you can see price has formed a double top followed by a break of ...
this time we're going to take a look at the pound dollar cross; as you can see price has formed a nice double top at a previous structure point in higher timeframe (4H) with RSI divergence (bottom of your screen).
I'm not taking this because i'm already involved with GBP pairs so i don't want to be overexposed, but i think this could be a nice ...
today i want to bring your attention to GBPUSD. As you can see, looking left, there are multiple structure level that acted as supports or resistances. This level also lines up with the 618 retracement and a psychological number. So i'm going to look for a double top or a simple candlestick formation right there.
I'll keep you updated.
If you want to ...
this is a Cypher formation that's already completed on the hourly chart. It's in accordance with the higher timeframe trend and so i'm going to use it as an entry reason for a trend continuation trade. The black line represents the previous support that's recently been broken and that could become resistance now.
Also, its completion lies right near the ...