GBPUSD - NEW BREAKOUT !Hello Traders !
The GBPUSD failed to create a new lower low!
At the moment, The last higher high is broken (break of structure).
So, I expect a bullish move🚀
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TARGET: 1.33630🎯
Britishpound
GBPJPY Channel Down bottom reached. Rebound expected.Last time we looked into the GBPJPY pair (March 20, see chart below) we had a sell signal which dully delivered our 188.550 Target:
This time we have the price at the bottom (Lower Lows trend-line) of the extended Channel Down, with the 1D RSI almost reaching the 30.00 oversold limit. All such bottoms were followed by a rebound that hit at least the 1D MA50 (blue trend-line) before a new Channel Down Lower Low.
As a result, we are going for a short-term buy here, targeting a potential contact with the 1D MA50 at 190.250.
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Old supportPair just landed on a more than two years old support trendline. Do you think is going to break it through? I don't think so. You can start opening a small position and add if the support is holding up. SL triggers if a big daily candles break it down the support but it has to close way under it. In that case, I would short it.
GBPUSD - Support becomes ResistanceHello Traders !
The GBPUSD failed to break the resistance level (1.30490 - 1.29990).
The price broke the support (1.27592 - 1.28116).
This key level becomes new resistance !
So, I expect a bearish move📉
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TARGET: 1.25900🎯
It's about to explodeThe British Pound looks very strong across the board. Check my post of GPBCHF lines below. Is forming a bullish flag at the monthly resistance to break it up violently. If it pulls back I'll add more. SL triggers is a weekly candles closes under the bottom of the flag but I hardly doubt it. I'm almost all in on the British Pound.
GBPUSD in Correction Phase – Potential for a Short OpportunityGBPUSD ( FX:GBPUSD ) is approaching the Support zone($1.286-$1.278) , Support lines and Important Support line .
Regarding Elliott Wave theory , GBPUSD appears to have completed the microwave 5 of the main wave 3 with the help of the Ending Diagonal Pattern and is currently completing the main wave 4 . The main wave 4 is likely to have a Double Three Correction(WXY) .
I expect GBPUSD to decline at least to the Support zone($1.286-$1.278) and Support lines .
Note: If GBPUSD goes above $1.30 we should expect more pumping. The worst Stop Loss(SL) for a SHORT position could be $1.30.
Note: If GBPUSD falls below $1.2760, we should expect more dumping.
Please respect each other's ideas and express them politely if you agree or disagree.
British Pound/U.S. Dollar Analyze (GBPUSD), 4-hour time frame.
Be sure to follow the updated ideas.
Do not forget to put a Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
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GBPJPY 1D MA200 rejection. Channel Down sell signal.The GBPJPY pair has been trading within a Channel Down pattern and the recent Bullish Leg got rejected yesterday on the 1D MA200 (orange trend-line). If the 1D RSI closes below its MA trend-line, we will have the ideal sell confirmation signal.
Our Target is the top of the 4-month Support Zone at 188.550.
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GBP/USD: ID50 Setup Bullish Trade Opportunity1. **ID50 Setup Formation:**
- The market appears to have formed a **peak formation low**, followed by a reversal into an upward trend.
- The price retraced to the **50 EMA (blue line)**, which aligns with the **ID50 trade entry zone** in BTMM.
- A bounce off this moving average suggests **bullish continuation**.
2. **Market Structure & Momentum:**
- Higher highs and higher lows are evident, confirming an uptrend.
- The **red EMA (13 EMA)** remains above the **50 EMA**, reinforcing the bullish sentiment.
- Price recently tested the **50 EMA support**, indicating a potential **buying opportunity**.
3. **Key Levels to Watch:**
- The nearest **resistance zone** is around **1.29700**, which might serve as the next target.
- Support is currently around **1.29000**, aligning with the 50 EMA.
**Conclusion:**
If the price maintains support above the 50 EMA, the **bullish ID50 setup** suggests a continuation of the uptrend. A break above recent highs could lead to further gains. However, traders should watch for potential **stop hunts** before a strong move occurs.
GBP/USD Intraday Market Analysis: Potential Upside ReversalThe GBP/USD 15-minute chart suggests a possible bullish reversal following a period of consolidation near the 200-period moving average. Price action formed multiple rejection wicks at a key support level, indicating buying interest. A bullish engulfing candle has emerged, confirming a potential shift in momentum.
The risk-to-reward setup highlights a long position, with stop-loss protection just below the recent lows and a target towards previous liquidity zones. The stochastic-based momentum indicator shows a crossover in oversold territory, further supporting potential upside movement.
If price sustains above the 200 EMA and breaks through immediate resistance, further bullish continuation is likely. However, failure to hold above the entry level could invalidate the setup, leading to further downside pressure.
GBP/USD is leaning in favor of the dollar.GBP/USD is leaning in favor of the dollar.
Since 2008, we've seen five waves down, and now a correction is forming, potentially targeting the $0.98 - $1.036 range or even lower, given the bullish outlook for the DXY.
Right now, shifting into USD seems like the smartest move.
GBP/USD 15-Minute Chart: Bearish Reversal at Harmonic CompletionThe chart showcases a well-defined harmonic pattern, the Shark, with the price reaching the terminal zone at 1.2670 , marked by a red downward triangle. This suggests a potential reversal zone where selling pressure may emerge.
Key observations:
The price has reacted strongly at the completion point, aligning with Fibonacci extensions.
Overbought conditions are evident in the RSI and other momentum indicators, indicating potential exhaustion of the bullish trend.
Target levels:
T1: 1.26241
T2: 1.25741
Suggests a possible downside move if the reversal confirms.
Traders should watch for bearish confirmation before entering short positions, while bulls may seek a break above 1.2670 for further upside.
GBP/USD Approaching Key Reversal ZoneThe GBP/USD pair has reached a critical resistance area around 1.2658, aligning with the 1.13 Fibonacci extension level of the harmonic Gartley pattern. The price action suggests potential exhaustion in the bullish trend, with signs of rejection near this level.
A confirmed reversal could lead to a corrective move towards key support zones at 1.2456 and 1.2320. However, if the pair sustains above 1.2685, further upside towards 1.2732 and the HOP level at 1.2843 remains possible.
GBP/USD: Distribution Signals a Drop to 1.25GBP/USD appears to be in a distribution phase, struggling to break through resistance around 1.2620. The price has formed multiple rejection points at this level, indicating weakening bullish momentum.
The recent lower high, combined with a potential break of the ascending trendline, suggests sellers are regaining control. If price breaches the key support zone, a move towards the 1.2500 region becomes increasingly likely.
With a bearish harmonic pattern and liquidity grab indications, GBP/USD could see further downside as selling pressure intensifies.
GBP/USD Market Analysis – Bearish Reversal from Harmonic PatternThe GBP/USD pair has completed a Crab harmonic pattern , with price reaching the 1.618 extension level and reacting strongly at resistance near 1.2617. The rejection suggests a potential bearish reversal.
Initial downside targets (T1 and T2) are at 1.2515 and 1.2445. If price sustains below 1.2593 (AB=CD level), further downside is likely. However, a breakout above the high could invalidate the bearish setup. Traders should watch for confirmation signals before taking positions.
EURGBP 4H Channel Down topped. Drop expected.The EURGBP pair has been trading within a Channel Down pattern below its 4H MA50 (blue trend-line) since the February 12 High. Technically that pattern is similar to the Channel Down of late January, which saw an accelerated decline after it failed to break above the 4H MA50.
We expect the pattern to complete a similar -2.18% decline and target 0.81750.
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SELL GBP/USDAnother trade you can take today is on GBP/USD, you can enter after that the market was consolidating for the whole night and gave us an entry that came after the manipulation.
SELL following the same levels as mine!
Follow for more!
EURGBP Channel Down sell signalThe EURGBP pair has been trading within a Channel Down pattern since the November 16 2023 High. The recent Lower High rejection just above the 1D MA200 (orange trend-line) resembles both in terms of 1D RSI and price action the August 08 2024 Lower High.
Since that posted an initial correction of -3.62%, we expect an equivalent Bearish Leg to target 0.81750.
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Market Analysis: Bullish Harmonic Bat Pattern on GBP/USDOverview of the Setup :
This chart highlights a **Bullish Harmonic Bat Pattern** on the GBP/USD pair, with the potential for a reversal to the upside after completing the pattern near the critical support zone.
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** Key Observations:
1. Harmonic Pattern :
- The **Bullish Bat Pattern** completes at point X (around 1.22628), which aligns with the 0.886 Fibonacci retracement level of the XA leg. This level represents a strong confluence of support and potential reversal.
- The reaction at this zone suggests that buyers may be stepping in.
2. Price Action :
- The recent downtrend has reached exhaustion at point X, with the price consolidating and showing signs of a potential reversal.
- The price has formed a **lower wick**, indicating rejection of lower levels and possible bullish momentum building.
3. Fibonacci and Take-Profit Targets :
- **Take-Profit Levels (TP):**
- **T1:** 1.23541 (50% retracement of the XA leg).
- **T2:** 1.24187 (0.618 retracement of the XA leg).
- The harmonic structure suggests these levels as the most probable targets for a bullish reversal.
4. Indicators :
- **Stochastic Oscillator:** In the oversold territory, signaling the likelihood of upward price movement as selling pressure weakens.
- **RSI:** Approaching oversold levels, further supporting the bullish reversal hypothesis.
5. Key Levels :
- **Support Zone:** Point X near 1.2260 is the critical level for the pattern’s validity.
- **Resistance Zones:** MHQP at 1.2500 is a longer-term resistance, while intermediate resistance levels are 1.2350 and 1.2418.
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Outlook and Strategy :
- **Bullish Bias:** The completion of the Bullish Bat Pattern and confluence of support suggest an opportunity for long positions targeting the Fibonacci take-profit levels (T1 and T2).
- **Entry Zone:** Enter long positions near 1.2260 if price action shows sustained bullish rejection.
- **Stop-Loss:** Place stops below 1.2220 to account for false breakouts.
- **Targets:**
- **T1:** 1.2350
- **T2:** 1.2418
Risk Factors :
- A sustained break below 1.2260 would invalidate the pattern and could lead to continued bearish momentum toward 1.2200.
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This analysis highlights a bullish opportunity driven by the completion of the harmonic pattern, with clearly defined entry, exit, and risk parameters.
GBPUSD Channel Down top rejection calls for selling.GBPUSD is trading inside a Channel Down and the price is testing its top again for the 4th time in 1 week.
This looks to us like December 17th, a rejection on the 0.5 Fib and MA200 (4h) that initiated a drop to the 1.5 Fib extension.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 1.2110 (the 1.5 Fibonacci extension).
Tips:
1. The RSI (4h) of the rejection series is also identical to December's.
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Notes:
Past trading plan:
GBPUSD: Channel Down forming a top on the 1D MA50.GBPUSD is neutral on its 1D technical outlook (RSI = 54.465, MACD = -0.003, ADX = 25.916) hitting today its 1D MA50 for the first time after October 9th 2024. By doing so, it reached the top of the 4 month Channel Down and is technically the best level to short. Attention is required as the 1D RSI broke over its 4 month Rectangle, so it may be an early bullish breakout signal, but until we close a candle over the 1D MA50, the trend is bearish and this is the most cost-effective short. The last 0.5 Fibonacci rejection (December 6th) targeted the 1.618 Fibonacci extension. This time we will aim a little higher than that (TP = 1.1950) to match the % decline of the previous bearish waves.
See how our prior idea has worked out:
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Approaching the 1.618 resistance on GBPCADGBPCAD is on it's way to reaching the 1.618, we'll see how price reacts to this area but for now, we'll wait and see what price action will do from here on out.
GBPNZD Technical buy opportunity below the 1D MA50.Last time we looked into the GBPNZD pair (October 02 2024, see chart below), we issued a clear buy signal at the bottom of the long-term Channel Up, that easily hit the 2.1900 Target:
Yet again, the price got rejected at the top of the Channel Up and pulled-back where it is consolidating below the 1D MA50 (blue trend-line). In the 12 months of this pattern, this has always been an excellent technical buy opportunity, with the minimum immediate rally being +4.15%.
As a result, we feel confident buying this pair and target 2.2550.
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EURBGP: Sell signal on the Channel Down top.EURGBP is almost overbought on its 1D technical outlook (RSI = 68.286, MACD = 0.003, ADX = 49.271) as it crossed over the 1D MA200 and almost touched the top of the short term Channel Down. This is a solid first entry for a short, the second being under the 1W MA200 near the dashed trendline of the long term Channel Down. Target the 0.786 Fibonacci retracement level (TP = 0.82800).
See how our prior idea has worked out:
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