GU provided two decent trade opportunities recently. first being the retracement to the 61fib of the previous move down. this also has another confluence as it rejected the recent broke support trend line. The next solid move was taking a buy at the previous low made this is currently running 50 pips dollar could be heading higher so GU could be taking a hit
GU is following the flow, being a bit more resilient thant euro, but still, it's beeing hit pretty hard by dollar strenght. But, this trade could be taken just looking at TA, I entered it last thursday night after the wick that came to retest the 50% Fib level and the trendline, but, I still believe an entry could be made on the last daily candle. For those...
GU is in downtrend on 1H, wait for the retracement to 1H FVG, which is also in premium zone. sell at 1.2108 tp at 1.2039 sl at1.2162
Bias: Short Market Cycle: 2 Big news move yesterday, we have 2 MP's to trade from if the short bias is to continue, 1.2104 is maybe the weaker of the two.. 1.2054 is daily and weekly level and also asian high **Ive also added 1.2080 as a valid MP,, usually i don't like 2 MP's so close together, so decided to go with a 'sell-zone' for todays trading..
An analysis drawn from a new confluence I am studying.
I don't feel as in tune with GBPUSD at the moment, but I want to see it depreciate as I am expecting DXY strength.
Short looking good for this pair. I'm expecting a retrace back-up to the ascending dynamic trendline, then down to the previous low, retrace and then if we can break the neckline of the previous low a drop down to at least 1.165, but with the H&S I expect a bigger move, probably down to 1.137 area.
Price is currently on a bullish expansion, and has formed a trend. I would be anticipating a possible pullback to 1.223 before another bullish run to 1.249. The key for entry for the sell would be a 15mins BOS lower. *As always, trade cautiously.
Upcoming #GBPUSD outlook before FOMC Wednesday. Looking for the current level of support to keep price above and rise to 1.25000. If support happens to break, there will be sells down to 1.22500. #TraderSphere
As you can see, GU made a triple top over the past few days, price pushed down below the 200ema support to make it a resistance. Price is currently in consolidation, however, I think we will see more sells on this pair. !good bearish 1hr or 4hr should send price down
so my calculation for GU is up and will hit the Fibonacci and the demand zone but I will put sell if the body candle clearly bull and have no sign of bear candle
MTF Analysis Check annotations in the anchored notes for M-W-D-H4 analysis.
GBPUSD faced valid resistance of 1.24526 on 4 hours chart you will see that it's making double double on exact same levels previously and it's a supply zone if seen on daily basis. Further formation of head and shoulder pattern confirm that GBPUSD has entered into bearish mode and short calls can be taken .
using suppl and demand on GU In timeframe 1H especially the support has been touch for 3 times right now and the market structure is buy on longer timeframe which is on D1, hopefully it will bounce especially MA 200 is still above candle
If current 1hr stick ends bullish, we will go more up. We have broken above resistance, retested it as a support. With a confirmation of retest at the end of this current 1hr stick
GU has been ranging all day, finally painted a double bottom at support. Im in from 1.23648, but at the end of current stick, will be confirmed retest for breakout
Following Price action, GBPUSD did not fall as far as estimated for December 2022. However, this is still a Seller's market. Using Technical Analysis, I am anticipating at least a 200pip drop to 1.1881 before price retest supply zones at 1.229. It is important to wait for price to take out liquidity at 1.21076 before we see the drop. **Please remember, this is a...
Price found support 1.1923, and we have been having multiple 1h breaks in structure. However, Wednesday LDN and NY session showed price consolidating at the break of a major structure. I am anticipating a liquidity grab to discount and then bullish price action to 1.2138 for Thursday and a further bullish break of structure to 1.2242 on Friday. Always, trade cautiously.