GBPAUD broke a major rising trendline on a daily time frame!
now we can expect further bearish continuation to the next structure levels:
support 1 - 1.92 (based on a match between historical levels and 382 retracement of a major leg)
support 2 - 1.88 (based on a match between historical levels and 618 retracement of a...
GBPUSD is trading within a rising parallel channel .
Next week we can expect a bullish continuation from its support.
The next goal for buyers is 1.2425 structure resistance based on 618 retracement of a major leg.
Good Morning all. I hope this message finds you well.
Yesterday i got faked out by this pair, nothing major.
Today I placed a buy position as price is greatly oversold. Lets see how this one plays out - looking to hold this trade if the momentum is strong.
Advice for today:
Trading without a stop-loss is financial suicide. Always protect your capital no matter how...
Good Day Traders, I hope all is well.
These are my thoughts for GBP/AUD.
After a strong and lengthy downtrend price has begun to exhaust and has found a strong level of support , further emphasised by a strong wick rejection on the 4hr.
Price then moved strongly from the area of support , indicating strong buy pressure and a potential reversal.
what a short rally on GBPUSD on Friday!
the price has surely broken below a major daily structure support level.
now we will expect a further decline to the next major levels:
1.20 level is 2019's structure low and I truly believe that it is the current goal for sellers.
1.19 level is 2016's structure low...
for the entire month of April EURGBP is trading in sideways.
the pair is stuck in a wide 0.868 - 0.883 trading range.
the support of the range is based on a key weekly level.
the resistance of the range is based on a daily structure.
if you are a swing trader, the best option is to wait for a daily violation...
# GBPTRY's weekly chart has a clear bullish pennant pattern.. I expect a structure as I mentioned in the chart..
Disclaimer: Please do your own due diligence when it comes to forex-trading.. Invest at your own risk..
I wish you all the best..
Descending Triple Top occurring on the 4HR Wedge (Entry - 1.24600).
Taking into account the Current Economic Situation and COVID-19, we at Sterling Capital FX belive the GBP is currently way Overvalued.
New Lows of 1.14 have been created on the Pound Sterling, things are projected to get worse with the Country on Lockdown so we can expect retests of 1.14 as the...
Pound dollar has closed this week on a very important decision level.
we see a dodji formation just perfectly on the retest of the recently broken rising trendline .
I tried to short the pair on Friday buy closed my trade on breakeven not being satisfied with the reaction of bears.
for next week we have two potential...
GBPUSD Weekly forecast for 3rd -7th Feb 2020
- Last week expected this market to pullback towards ket area of support @1.2965 and this is what it did, this was the best area for entries with the lowest risk to reward ratio.
- Bulls took control from my zone @ 1.2965 all the way to my short term target @ 1.3075
- Furthermore hitting my target 2 @ 1.3170.
GA forming a descending wedge pattern.
Price now consolidating at the upper trendline in line with the 1.92 psychological level.
I am hoping price will reject here to break through the current trading range, in which it may give way to a 300 pip drop to the lower ascending trendline.
Amazing R:R on this trade!
Looking for a short when price returns to the overhead trend line. My short term bias on this pair in bearish due to the fact we are now quickly approaching January 31st and uncertainty around the short-term outlook for the pound increases in light of Brexit - therefore I believe the fundamentals are in favour of this trade. We have further confluence...
very interesting situation on GBPUSD .
The pair is coiling around 1.27 structure resistance
and we see a clear rejection of this level.
The pair has just formed a double top pattern,
and there is a high chance of switching the sentiment from bullish to bearish .
Our trigger is the bearish violation of 1.255 structure...
GBPAUD is approaching a key support level on a daily.
On 1H chart the market has recently formed a double bottom pattern
and currently, it is attempting to break above the resistance line of a bull flag .
if it breaks, it will be a perfect confirmation to buy the pair expecting the retest
of the recent...
Are you looking to go long or short GBPUSD pair? Check up the daily chart, cable gives you those 2 options and if you prefer to stay aside because of Brexit Deal or No-deal uncertainty - All are available trading options.
Expecting cable to pullback a little to complete the head-and-shoulder pattern to sell the pair and a buy opportunity likely from the bullish...