Expecting a pull back in GBPUSD towards the 1.26298 (61.8 fib) level before the continuation to the downside, Price can retest the 200ma at that price level
GBPUSD is rising towards an overlap resistance and could potentially reverse from here to drop lower towards our take profit target.
Entry: 1.25346
Why we like it:
There is an overlap resistance
Stop Loss: 1.25887
Why we like it:
There is an overlap resistance that aligns with the 50.0% Fibonacci retracement level
Take Profit: 1.24457
Why we like it:
There is a...
In the forex market, there is a potential buying opportunity for the GBP/USD currency pair. The price has reached a specific zone that indicates a favorable entry point for Sellers. Traders can consider initiating a Short position on this pair, expecting the dollar to appreciate against the GBP.
To manage risk, it is recommended to set a stop loss (SL) order at...
DXY is bullish
Institutional order flow is bearish
After tapping the bearish mitigation block, price could continue moving down from here as there is still a weekly bull order block below.
But since price is below the HTF equilibrium and just taken a SSL D, it could also reverse from here.
WEEKLY TIME FRAME : Price is approaching strong support/demand zone.
H4 time frame : We see that double bottom got breakout and price is re-testing neckline. Let's monitor price action and look for BUY
JUST REMEMBER TO MANAGE YOUR CAPITAL WHILE TRADING. NO MATTER HOW PERFECT YOUR TRADING SYSTEM IS, THE WAY YOU MANAGE YOUR RISK IS THE KEY TO BE...
British Pound falls to 3-month low against US Dollar
UK house prices fall sharply
BoE’s Bailey is non-committal about the September rate decision
According to these indicators, the price is expected to decline in the medium term
On this video, we saw that the eurjpy market is still indecisive and not giving a clear direction for a trade yet but the gbpusd market is setting up for a long potential to the upside from yesterdays candle closure above 1.2500 and a break of 4hr structure confirmation to the upside
Price is on a downtrend for a couple of weeks now and it is currently moving up i.e. pulling back to retests supply zones, OB, or broken structures.
I am anticipating Price to getting to 1.2585-12592 where I have a supply zone drawn, which is also the 50% Fib retracement level and show a rejection/signs of weakness, which would make me sell for 200+pips.
Price...
GBPUSD 1H - Sell
Multiple Strong wick rejections at the 61.8% Fibonacci Level.
i personally believe we may get the push to the downside in the morning with the GBP News Release coming out negative enhancing or probabilities a solid trade.
I will need a clear break of the level highlighted before entering a position short.
targets the previous bottoms &...
Hello,Traders!
GBP-USD is trading in a
Downtrend and the pair
Was making a local correction
But is about to retest the horizontal
Resistance of 1.2568 from where
I believe we will see a
Bearish continuation
Sell!
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GBP-USD was making a
Bearish correction after
The breakout of the falling
Resistance which is a
Support now and we are
Already seeing a bullish
Rebound from the level so
I think that we will see
A further move up !
Based on the 1H timeframe. A change of trend from bearish to bulish. This bearish move has been the pullback the bulls have been waiting for. Let see how far it wil bring us.
My original short entry on GU got stopped out this morning. I never really enter off of just bearish and bullish candles off a level UNLESS its the retest of a flip or a retest of continuation. For now I'm still short on GU until that break and retest above does happen! Now, if price breaks above 1.25320 I wouldn't go long, Price could break above to than break...
As you can see price was trading above the zone for awhile while which makes it strong to buy or sell off of. Price was trading above creating higher highs and lows before forming a chart pattern known as the head and shoulders then a shift in structure occured to creating lower highs and lower lows thus breaking below the zone which makes the sells more valid
Price was trading above the marked zone for awhile making it a strong zone to sell or buy off . As you can see there was a head ad shoulders pattern followed by a shift in structure from higher highs to creating lower highs and lower lows
As Pound Dollar, has retesting its higher TF Lows, and in lower TF it has changes its direction, this is what I think the market will do. waiting for the price to reach the demand zone.
