(1) Bearish trend for a long period of time. (2) Expected to rebound at the area given (refer chart). And continue slightly to drop. (3) DXY projected on rallies inline with interest hikes until the inflation rate 'enough' for cooling down U.S economy.
Looking at long term trends for GBP-USD we are coming to a level that is almost underheard of in forex GBP being low to the dollar. Right now looking at the weekly unless something happens we see a continuation to 1.165xx range from there it could be anyone's game. We expect a lot of volatility around this number and range In fact if you draw a box from the top...
Next Wednesday we will get UK's GDP data, it is expected to be negative as recession fear soars. Boris Johnson will likely continue to serve till October which not bullish for Sterling. A good entry point for a sell position would be 1.218 for a TP of 1.19
chart says it. above L3 look for move to H3. below L4 look for drop to L5.
As price is in a downward trend, lets just wait for the price for a little pull back before making a big move downwards. simple enjoy the trend
As pound is in a sell trend, so we will simply follow the trend, but keep in mind it has to change its trend now. so just try to follow the trade. take some pips as told. and wait for a buy entry.
GBP/USD forms a Bear Pennant, putting prices at risk of resuming the former downward trend from mid-June (flag pole). A break below support puts the May and June lows in danger, with further losses possible.
Technically GBP looks ready to revisit 1.2500 Dollar is likely to weaken for a while That offers rooms for GBP to advance 1.21 should offer support Drop below 1.21 is an invalidation of the setup
GBP/USD (Great British pound VS Us Dollar) In a weekly chart, We can clearly see the ending diagonal (falling wedge) on the chart and now it's time for a reversal. When the ending diagonal form after then We will see a sharp reversal to the opposite side. Most probably we will break the $1.4 area in some weeks or months. DISCLOSURE - Please be informed that the...
We see Price break a level of support and form a new low. The level that got broken has a probability of acting as a level of resistance. SUPPORT TURNS RESISTANCE. TIP: Use Conviction
Hi everyone We all red the news from the federal reserve,well considering that many might think we can reach higher for GBPUSD. Well news always have a huge impact, but traders might have more. In 4 hours chart we have a bull wedge pattern and in case of breaking out of the trend line, the trend might go side way or bearish( more likely). Now we have a...
• After breaking down from the yearly descending channel, which was a signal of a strong momentum down, the Pound has been rallying for a while • The pair is trading inside a rising wedge, a reversal bearish pattern • Buyers tested the lower trend line of the channel, which is a typical move after a breakdown and apparently they gave up • Looks like today is...
Only trade for today. Missed most opportunity from morning, nice 1:3 RR here
Final trade of the day! News coming in at 3.30pm see if we can get back to daily open.
Hello everyone As USD loses it's value over the news from federal reserve,better prices for the pairs with this currencies can be seen allover the market. For now, over the possibility of the exhaustion of the trend, we may have couple of RED bars in the way of our Bull trend, but since we have an OIO pattern( outside,inside,outside)it's more likely to have...
Looking to short GU from 1.23000. Possible third touch of descending trendline Confluences: - Bearish market structure as LLs and LHs are being printed. - Broke below 1.23000 support region without retest. - Retest level (1.23000) which is currently the support-turned-resistance level falls inline with the 61.8% fib reversal level + third tap of the descending...
Hello everyone As you can see after a good rally, now we have a divergence on our chart and a possible double bottom pattern. This obviusly does not need my explanation at all. For now, we have the support line of 1.23$ and the resistance level of 1.25$ which the price might see by the end of the week. Keep this in mind, never try to find tops and bottoms of a...
The Pound is weak. The DXY is rising and the fundamentals are overall strong for this month. This is a great set up. Once price breaks that bottom structure: .... strap up and enjoy the trip down south! Never over leverage. Trust your set up. Have Fun!