• Picture doesn't look so bright for the Sterling • Odds are turning in favor of the bears for the following reasons: 1: The Ascending parallel channel has been broken for the first time today 2: Recent rally failed to print a new high above the previous one at 1.2540 and a potential double top is being formed 3: Bears are approaching the double top neckline at...
I'm not currently bullish! I think there might be some bearish hours but I've found the zone suitable place to long the pair! I actually think the newly formed bullish channel is a great sign of bullish pound in longer terms
#GBPUSD (update) In 4h Timeframe, GBPUSD is Forming Rising Wedge Pattern, If wedge Broken downside, Expecting Bearish Wave towards 1.3111 (Support) Please like the idea for Support & Subscribe for More ideas like this and share your ideas and charts in Comments Section..!! Thanks for Your Love & Support..!!
Knowing that how japans struggling through its recent reports I am mostly fine to see that japan is having more trouble out of Covid-19 which we all clearly saw how the GDP dropped and industrial production was gloomy from recent reports. It's a bet against who is fine then whom at the moment and recently the more pain or pressure we say is on japan more then Uk.
Sterling could be in for additional volatility as the U.K. jobs figures are due and might set the tone for BOE policy expectations. If the actual figures beat expectations, however, it could spark a strong bounce for pound pairs as this would likely dampen BOE rate cut hopes. The pair is floating around 38.2% Fibonacci retracement level, which coincides with an...
U.K.’s first GDP reading, which is expected at 0.0% after a 0.4% reading in Q3 2019. If weak expectations then we could see GBP/USD drop below its 1.2875 weekly lows (weekly pivot s1 level) and maybe even make a run for the lower s2 or beyond. This is still possible given Cable’s daily ATR and its move so far today. If today’s data dump allows the BOE to avoid...
EUR/GBP is currently retesting the broken support zone which lines up with the 38.2% Fibonacci retracement level. I assume the pound has some more strength left comparing to euro and there may be some pullback scenario (continuation of downtrend) seeing the market structure and price behavior. If price pullback from 38.2% Fibonacci and we plan our short idea from...
Brexit uncertainty spirals back after the Bojo sad defeat on his plan. October 31 will be extended for a small-time period seem so and PM Johnson can blame the opposition for mucking up the schedule . The EU is in no hurry. Is it 10 days or 3 months? Who knows. Break below the horizontal trendline of the descending triangle should only consider the...
Even a human being need to die before they have to reach in heaven. This is just a currency pair all those pumping news from UK and European has to somehow seem to lose steam for now while the pair seems to be getting exhausted for now to carry on further upward. Even if it's a bullish market in perspective of long term some pullback in intraday is enough to book...
simple setup once again, no need to over complicate the charts, confluences + great RR provides great chance of profitable setups. Short position from the supply zone at 1.84175, we are over extended & due to retrace. This supply zone gives us the opportunity to do that