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- Breakout of parallel channel
- Confluence: 61.8 fibonacci level rejection on H4 which happens to be my H4 resistance level (1.3210)
- EMAs crossover with price action below supporting bearish bias
- Bearish sentiment on sterling with uncertainty looming over brexit
- Price seems to be heading back towards the 1.3000 psychological level
- 60 pips target with 30 ...
The British pound remains in a downtrend for now- but appears to be transitioning to a sideways range from 1.305 to 1.335
Fundamentally what Trump says about a US trade deal (GBP negative) matters less than improved chance of a soft Brexit from new UK gov whitepaper (GBP positive)
Scenario A) Downtrend pauses -- Price rebounds from 1.305-1.31 support zone to ...
Start of the pound recovery? Possible idea if 134.000 breaks
Keeping it simple here with a key area marked, fib and trendline .
Uncertainty and recent events in the US could leave to the dollar weakening more over the coming days / weeks. With the fib drawn we could potentially be in for a bounce from the 61.8 level and looking at the 4hr chart this level matches us with some previous support that we are consolidating ...
Long bias on FX:GBPUSD.
This could take a couple weeks. Lets see how it goes :)
GbpUsd - Daily - Longs in play.. price trading in a bullish structure making new higher highs and higher lows.. the trend is bullish so we are buying on a pull back
Just been triggered into a long on FX:GBPUSD. I have taken two losses previously lets see if I can end the streak.