Entry criteria: Do not enter if the price breaks the selling area. Wait for a reversal to enter.
Exit criteria: When the price hits target 1 put SL to breakeven. If price breaks target 1 area with momentum then TP at target 2.
Trade at your own risk.
GU here. Potential for a long on this pair, have a ascending trend line, ema plus a fib level which, if respected could be a good entry for a long. Be cautious with this pair as GA and GN look very weak so this may just crumble so don't put a big lot size on maybe 50% of what you would normally do just to be safe.
200 PIP GAIN 5/1 RR
With the price point now reaching a consolidation area following the recent general elections. I see the the strength of the pound greatly encouraged by the re-elected Boris Johnson.
There is the possibility for the GBPUSD to reach daily highs in the coming days. With an almost certain retest of the 1.32250 Price point (to form a right shoulder in a H&S...
As you have seen a decent rally on all GBP pairs, particularly on GBPUSD which is due to UK Election and DXY weakness. We can see a nice reversing candle sitting on the 4h chart which suggest we might see some retracement towards the previous support level where I will take my profit and look for opportunities to go long again as this pair didn't...
We can already see price testing support area @ 1.29285, as the markets closes for the weekend. What we could see during the opening of the London market session is either price re-testing the support area, so the big boys can stop hunt those who are holding their sell positions over the weekend, then a complete bullish movement. Or for price to continue on the...
The British Pound could continue to edge higher against the US Dollar within the following trading session.
The currency pair will most likely aim for a psychological resistance level at 1.2500 in the shorter term.
However, Brexit controversy might disrupt the bullish momentum in the nearest future.
My BIAS for GBP/USD for the upcoming week is BUY.
My reasons behind this are
1. Price has just broken above our Daily Resistance.
2.Price has retested our Daily Resistance and bounced straight back up sitting currently just above the previous high made on the 4HR TF.
What I will be looking for before entering this trade.
- A retest of previous highs at 1.22500
We have lots of factors going on here, after a rally in one direction (down) especially a sharp one like we've seen this week we would expect a return rally...
Confluence of support and weekly trend line makes this a great area for a trade, we have divergence on the RSI and increased volume through the ATR...
I've taken one risky trade as it gave me a 10:1 which...
Possible drop for GBPUSD. Price has remained heavily under the 200 and 50 EMA indicating a strong short bias. Price has recently broken a trend line and has then retested which indicates that it is going back n the direction that it has broken. Keep an eye our for Updates. Stop loss of around 100 pips and Take profit of around 320 pips. FX:GBPUSD