We can see an ascending triangle forming here on USDGBP.
This formation means that buyers are out performing sellers.
As you can see the buyers keep pushing there lows higher but sellers cant push there highs lower.
You can see my predictions on the chart with the arrow.
I will be getting in on the retest of resistance turned support/the primary line of the...
GBP/USD May fall 100+ pips
Insight - Due to fundamental events, price has hit an extreme low, breaking the support of the monthly descending channel. Support now at 1.1434 and resistance at 1.1808
Intraday - 4H
Sell or Below 1.1434
Target TP: 1.1296 & 1.1133
Buy or Above: 1.1434
Target TP: 1.1808 &...
I believe the market will retrace back to the previous support line because it going in long upward channel.
Looking at the previous bars, we can see that the support line was once a resistance line several times. Last time the market hit the support lone, it shot up quite considerably so I can safely assume it will do that again because markets like to follow a...
Following Trump's inauguration last Friday the BEARISH tone to the USD looks certain to remain and we've been SHORT SPX500 from 2264 in the belief that this market is overbought and due a correction.
With the USD declining and the Dollar Index heading south, we are expecting more dollar weakness which should boost all USD pairs although not at the same rate. With...
It can go both ways but if it doesn't breakthrough the support line (Purple) then a buy will be in order around the 0.80116 levels till 0.80468 but if it breaks through the support. I will leave an order around 0.79873 levels and close around 0.79509.