Possible long for GBPUSD. A lot has gone into this one. Ill start off with the inverse head & shoulders, marked out with the fat green arrows, we can see that this has occurred and could indicate a long bias. We can see that the upper trend line has been touched at least 3 times therefore validating this trade and we can also see that the time in between each...
We can see a strong support ( green line ) that price has been respecting and failed to break recently with a few spikes through the level but failing to close below it.
We also have a lovely trend line ( TL ) that price has been using as support bouncing off it on its travels, we can only see further bullish movement as price continues up our TL making higher...
Price has formed a descending triangle, if we get a breakout to the upside I will enter a long position upon the retest of the 1.31900 zone. Conversely, if we get a decline, I will go short upon the retest of the 1.30000 area.
Burger or Fries? ...... I don't even mind - Always FLOW WITH THE MARKET :-) x
Looking at the GBP/USD on the daily timeframe makes the diagonal structure starting on the 25th January clearer. From the 27th February, cable has remained within a 350 pip range and as price consolidated, continued to range within what is believed to be a larger diagonal structure (25th Jan). The larger diagonal structure also ties in with the...
Looking to short GBPUSD from the sell zone (1.29000), we can see there is a 4h R1 pivot and a 15min daily R1 pivot in this zone. My target is to 1.28400 this is close the gap also.
Only enter if you see a reversal pattern in the sell zone!
Do not enter this trade if the pair closes the gap before price hits the sell zone.
Price was travelling in a down trend, been held down by a descending trend line however, it has now broken out of the trend into an uptrend and has also formed an ascending channel.
Price is at the bottom of the channel, indicating buy orders gbpusd
GBPUSD is following the above channel so time your entry right with your longs on a one hour time frame.
Also be prepared for a break in channel at some point (not for now) , which will break to the downside.
At the moment current movement is consolidation, so a big move to follow.
Warning; trading comes with risks, trade safely and within reason. All...
We can see price turning and making a bearish run once it enters our zone, we can also see price breaking our trendline so price should drop quiet a lot.
There was quiet a bit of strength surrounding GBP last week and we can see that calming down a little this week.
Brexit is just a money making conn anyway, do you really think the people of the UK have a say if...
Price failed to take out the most recent high after days of bullish movement, we can see price moving down to our target area ( green box ) this trade will give you roughly 130 pips... Thank us later ;p
Here we have 2 supply/resistance zones ( red and green box ) price has recently respected our green zone as resistance and is making a bearish run, We think that price can reach our support zone ( red box ) although if you are trading just remember to use correct risk management as GBP can be very volatile surrounding Brexit.
BREXIT....... The conn to make people...
Wait for a reversal pattern to form in the Buy range 1or 2, Looking to target 1.30000 & 1.32000. We can see 1.28000 area is supported ed by the 50% fib, over the week we can see the dollar getting softer that help this pair gain bullish momentum. Due to the Brexit deadline approaching we can see a lot of noise in GBP pairs as headline appear.