From the analysis we can see in what sequence the fractal corrections follow. Right now I'm waiting for a rising sequence. This rise may create a broader accumulation band, similar to the preceding fractal. Since I am expecting a fairly wide band, I can trade this with a band strategy. I expect the current target price to be 1.3348.
Quick update on GBP pairs.
It's rallied into some key resistance levels on my charts. This could potentially signify exhaustion and lead to speculative selling/profit-taking in the very short term.
Keep a watch on the formation of this daily candle, if it posts some kind of inverted hammer or outside day, then I may look to sell some GBP pairs next week in...
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GBPUSD Broke the previous analysis made by me and changed market structure, but here we are with a new analysis on it! The pair looks good at the moment, but obviously use risk management and Trade Safe Traders!
For any questions feel free to contact me on Telegram (Abid_fx) and if you want you could...
With the price point now reaching a consolidation area following the recent general elections. I see the the strength of the pound greatly encouraged by the re-elected Boris Johnson.
There is the possibility for the GBPUSD to reach daily highs in the coming days. With an almost certain retest of the 1.32250 Price point (to form a right shoulder in a H&S...
GBPUSD, often referred to as “The Cable”, a foreign exchange term used to describe the British pound vs the US dollar, is one of the oldest traded currency pairs. In July of 1866, after an earlier failed attempt, the first reliable exchange rate between the British pound and the US dollar was transmitted between the London and New York Exchanges. Optic fibre cables accompanied by satellites handle the Transatlantic communications today.
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