GBPUSD - 200+PIP movement incoming? Or will it be further decline due to Boris and his merry men!
We've seen new levels hit and many other traders being stumped by GBP this week again! Will it return to it's usual levels?
GOLD is set for big movements. News at 1:30pm is going to be very influential and GOLD as always will be UP and DOWN. Anticipate it to drop first, then re-trace back to previous higher level.
Trade with care.
GBPUSD - H&S pattern on H4: BUY
- Test on weekly support
- Pattern: H&S
-> waiting break and confirmation
CAUTION: Current downtrend, level 1.26 may be reached then back up. Fundamentals are a major factor.
There is a sell zone marked out at around
1.28842 - 1.29200 // This is where there will
be consolidation if the price reaches this are.
Buyers and Sellers will be deciding on their
next move, therefore, allowing GBPUSD
to also decide on it's next month. If it is a SELL
from here, expect 1.23730 as marked on 03JAN Pivot.
Trade with care.
Quick scalp on USDJPY looking for a short re-trace before USD levels become normal again.
As we know, the trade war will cause high volatility and JPY is still the strength. But buyers will push the USD back up.
USDJPY has already reversed of the RES LEVEL 1, with it slowly approaching this level again we could see a resistance point hit and drop towards support as shown. Support level is pinned due to 31/01/19 level.
AUDNZD broke out major support and could potentially fall to 1st support (61.8% fib ext). Bearish pressure is showing. If we do see a bounce back up to resistance, a re-entry will be done.
ENTRY: 1.05300 - 1.05400 (Re-entry as mentioned if market changes)
SL and TP for VIP members only.