Here on GBPUSD price has made a rebound around psychological level of 1.28500 now heading over down to another level so looking at Elliot wave we can see that is predict down so going for SHORT is needed and targeted profit should be around psychological level of 1.28000 and 1.27500 and 1.27000 .
Most emerging market currencies are not expected to recover this year's losses against the dollar in the coming months, according to a recent poll of foreign exchange strategists. The poll, involving 50 FX strategists, suggests the possibility of aggressive interest rate cuts by the US Federal Reserve, weighing on the performance of these currencies.
A basket of...
Hello guys,
Here is my GBP USD trade set up.
GBP USD has broken a major support level, now waiting for the retest of the broken support level to enter sell position base on candlesticks confirmation patterns at the retest.
GBP/USD gathered bullish momentum and registered gains on Wednesday after dropping below 1.2100 earlier in the day. The pair continued to stretch higher toward 1.2200 on Thursday but lost its traction, with investors refraining from taking large positions ahead of the Bank of England's (BoE) monetary policy announcements.
The Federal Reserve held the policy rate...
Hello traders Good Day Ahead !
Here is BRITISH POUND / U.S. DOLLAR analysis
Price is at resistance level of 1.16160
Doji star indicating the reversal
1st TRGET IS 1.14500
2nd Target is 1.14000
We find GBPUSD in a 4 hourly bearish channel.
Following an exhaustion to the up side, we will be looking to jump onto sells as we see upward momentum being lost on the 1h timeframe.
Sells will be entered upon retest and denial of the 38.2% fib level as shown, where we could see a big push downwards to the 1.22270 price level.
We find this to be a high...
