Timeframe: 4H Simple ABCD movement, caught the short on the C leg, in a bearish fib zone, with a BRC of a broken support turned resistance. Broke through a bullish TL on this timeframe, which indicates bearish movements. Took out a previous low which should now act as resistance.
Buy above 1.3006. Stop loss at 1.2954. Take profit at 1.3109. Reason for the trading strategy (technically): Price continues to drop towards our buying area. We prepare to buy on major support at 1.3006 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, bullish divergence) for a bounce up to at least 1.3109 resistance (Fibonacci...
GBPUSD faces a Bear storm as Friday's action forced the pair under the 100 MA for the first time since June 8 ,2017. With Sunday night's pullback now reversed, price looks to be sliding back to the 200MA(4hr) with strong support however temporary it may be, at the 1.2976. The June 20, 2017 price low 1.26036 would be next target if price continues to slide beneath...
Buy above 1.3006. Stop loss at 1.2954. Take profit at 1.3109. Reason for the trading strategy (technically): Price has dropped absolutely perfectly from our selling area and has reached our profit target. We prepare to buy on major support at 1.3006 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) for a bounce up to at least 1.3109...
GBPUSD Sell to 1.2940 min (support) along with Trend. MAs have not crossed, still bearish. Support Confluence with fibs Anticipating a move up with DXY or more bad news for the Pound Trader sentiment = buy Contrarian confirm We shall see. Non-aggressive movers will wait for confirmation of a close below support (blue) line or entry with confluent MoMo.
Decline from highs expected to continue this week with selling pressure on GBP after bank of England statements last week , retesting 1.3150 will give good short opportunity .
FX:GBPUSD BREXIT: Safe Trades;
All the details are displayed on the chart DO YOUR OWN DUE DILIGENCE BEFORE ENTERING THE TRADE.
Sell below 1.3154. Stop loss at 1.3191. Take profit at 1.3058. Reason for the trading strategy (technically): Price has broken a long term ascending support-turned-resistance line and we’re expecting to see a nice drop from here. We look to sell below 1.3154 resistance (Fibonacci retracement, pullback resistance) for a further push down to at least 1.3058...
GBPUSD to fall 70-80 pips in the wake of Rate Decision to maintain the same level of 0.25%
Waiting.. I mean Gartley pattern..
chance to sell GBPUSD at 1.3210 stop loss : 1.3260 take profit : 1.3150
Very critical resistance here. Also cable has not been as strong as the euro. MPC meeting coming up and it will provide us with a clear direction. As of now its a low risk high reward setup