We can see price turning and making a bearish run once it enters our zone, we can also see price breaking our trendline so price should drop quiet a lot.
There was quiet a bit of strength surrounding GBP last week and we can see that calming down a little this week.
Brexit is just a money making conn anyway, do you really think the people of the UK have a say if...
GBPUSD Long opportunity by utilising the weekend gap down on open.
The rest of the analysis for a long bias is the bullish trendline, fib 0.618 retracement and the structure zone at this level on the chart.
Stop loss = 50pips
I will move my stop loss to breakeven when the gap is closed.
I am new to trading and recently started to publish my analysis. Any advice or feedback is welcome via comments or in the chat. Looking for opportunities to learn new information & techniques.
I have done some analysis on the GBP/USD. The analysis has been done on the 4 hour candlestick chart.
I think that it is a Bullish trend, but at the moment it has just...
Ahead of the big date : 29 March 2019, the pair has shown to be increasingly volatile with highs of approx. 1.3350 & lows of 1.2500 due to uncertainty in the market related to a no deal Brexit.
We anticipate that Brexit will be further delayed as Betfair is offering 1.2 for the UK to not leave the EU by the 29/3/19 and 5.7 for otherwise. A delayed Brexit would be...
Potential for GBPUSD to bounce from the support zone at 1.31. Lots of price reactions at this zone and we also have the daily S2 level here.
Targeting the 15min / 1hr bearish trendline which is a simple and nice 2:1 RR
Here is a simple day trade that I would have taken if I was not already shorting GBPUSD from the gap open on Sunday evening (linked). This day trade is very simple and utilises a few key rules for the analysis.
Criteria for a successful short trade:
1) Trend must be clearly bearish (lower highs marked in yellow).
2) Price must be below daily pivot and retest.
GBPUSD WEEKLY OUTLOOK
1.3241-1.3449 are important supply zone
1.2300-1.2108 are important demand zone.
For long term swing traders, if you want to buy gbp
for value investing (coz it is really cheap)
1.2300 will be good entry