GBP USD is providing us a great opportunity.
Weekly- the previous candle has touched in the weekly trend line and rejected, creating a bearish candlestick this week.
Daily presented us a engulfing candlestick, and also showing a clear rejection, from the weekly trend line.
However,4h looks like we will face some consolidation before going south. We must at least...
Looking to Buy GBPUSD from the Buy range (1.28000-1.28150) , Target is near the 1.29000 level (+-100pips).
Only enter this trade if you see a reversal pattern or bullish price action on the 1H chart.
We can see indecision candles forming on the daily , this can result in price consolidating between these two levels.
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.
GbpUsd - H4 - After fomc I saw dollar index creating new demand which I anticipated to be retested next week. I see all major currencies creating new supply zones for us to sell from. This pair is also trading below a weekly resistance and for next week I see a good pending sell setup to sell this pair down to 1.28 and possibly down to 1.25 in the coming weeks.
Just like my previous analysis post, another pair stuck ranging inside a 100 pip box. The Pound took a huge fall the last few months and its now having a bit of a breather before deciding it's direction. I will be waiting... on the sidelines... AGAIN. Patience!
Gbpusd - H4 - Here's an analysis of a trade signal given in my privare group. Over here we a have a Buy signal for gbpusd pair which we entered at 1.4140 with stops at 1.4080 and tp 1.43 - 1.44. Ball out!!!
What a trade this would have been. Simple setup, set a buy limit above trend line at a respectable level. If it breaks to the upside then your in, if it doesn't then your order will not be activated and you can continue to be patient. Upside move to 1.40500 possible?
Price has gained more strength over the past few days and it looks like bulls have finally taken over.
Long Set Up is pending after the pull back. Remember the market moves in a series of Pushes and Exhaustions. We are going to see a Exhaustion before further upside movement.
Risk No more than 2%
Lets see how this ones goes.
We currently have price action of 1.32141 sitting very tightly under a resistance of 1.32154. After a strong show from the bears on Friday pushing the price down to 38.20 Fib level the bulls quickly recovered back up to the 1.32 area, closing Friday on another green candle to where we are now. I do believe the sentiment of the Pound is still long, with the bulls...