British Pound can bounce down to 0.8530 support levelHello traders, I want share with you my opinion about British Pound. Observing the chart, we can see that the price a not long time ago bounced from the 0.8590 resistance level, which coincided with the seller zone and rose to 0.8650 points but soon fell back. At there moment resistance level coincided with the support line and the British Pound rolled up to the resistance line. After this movement, the price started to decline and in a short time British Pound fell two levels lower, thereby breaking their. But when the price reached the buyer zone, it rebounded up, broke the resistance line, and later declined below this zone. Later price rose back and even entered to range, in which the British Pound made a fake breakout of 0.8590 resistance level, after which the price declined to 0.8530 support level. As well recently, the price tried to rise back, but failed and at the moment trades below the resistance level. In my mind, the British Pound can rise to a resistance level again, and then continue to decline. For this reason, I set up my target at the 0.8530 support level. which is located in range. Please share this idea with your friends and click Boost 🚀
Britishpound
GBPJPY Sell signal on this Triangle pattern.The GBPJPY pair is trading within a Triangle pattern, similar to July's. The price is currently approaching the 4H MA200 (orange trend-line), which is untouched since August 08. As long as the pair closes below the 0.382 Fibonacci level, we are selling the bearish break-out and target 181.600 (Fibonacci 1.5). Notice how the 4H MACD sequences between the two fractals are identical.
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EURGBP - NEW BREAKOUT !Hello Traders!
The EURGBP Price Reached A Resistance Level (0.86030) and 0.618 Fibonacci Retracement Level !
Currently, The Price Failed To Create a New Higher High 📈
Moreover, The Support Line is Broken !
So, I Expect a Bearish Move📉
i'm waiting for retest...
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TARGET: 0.85150🎯
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GBPUSD Strongest buy signal since March.It has been almost 2 months since we last looked into the GBPUSD pair (see chart below), taking as sell position after the price was rejected on the Channel Up pattern's top:
That Channel Up broke downwards, and the last such pattern to remain valid is the one shown on the current chart. The price is below the 1D MA100 (green trend-line) and today hit the bottom (Higher Lows trend-line) of the pattern. That is the exact pattern we saw on the March 08 bottom. The 1D MA50 (blue trend-line) is the short-term Resistance, which if broken, confirms the long-term bullish leg to a new Higher High.
Right now this is a buy signal, targeting at least 1.3300 (below Resistance 2) on the long-term. However, if a 1D candle closes below the Channel's bottom, you can also take a short-term sell position, targeting the 1D MA200 (orange trend-line) at 1.2450.
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GBPNZD Starting to turn into a buy again.The GBPNZD pair has been trading within a Channel Up pattern since the start of the year and 10 days ago started its technical correction after the new Higher High. The price hit the middle of the pattern and as the 1D RSI touched its Higher Lows trend-line, the conditions for the new buy emerge again. We are placing the first buy of this sequence now and if the price drops more we will enter a second (and final) on the 1D MA50 (blue trend-line) potentially at 2.1000. For both positions, the target is 2.18000.
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GBP/EURO~Maximizing Your Euro HoldingsGBP/EURO – Maximising Your Euro Holdings
This chart could be used for perpetual swaps or could be of value to those looking to maximise their Euro holdings by positioning them temporarily into Great British Pounds.
The RSI and Parallel channel have been brilliant indicators of when to long and short the Great British Pound ("GBP") in Euro. The 200 week SMA also is of added benefit as it appears to act as a sturdy resistance level mid trend. In other words, exiting the trade when we approach it from a long or short perspective is an additional tactic to secure profits and avoid the risk of how it repels the approaching price action.
As a EURO holder or someone with high reserves in EURO, technically you could have an open position to buy GBP at €1.0864 or a little lower and have a tight stop in place at €1.0507. You could gauge this stop to your risk tolerance and your entry (in the green zone). The likelihood of a bounce from these lower green levels is historically high and you would have a reasonable trade with a defined stop so you never have too much pain. If the trade plays out and you have banked 10% in a full move you can sell your GBP for approx. €1.20 locking in a liquid tax free 10-11% profit (which you originally bought for €1.0864 per GBP).
Historic Buy and Sell Zone Returns (To Increase EURO holdings)
o BUY GBP in Oct 2016 at €1.08 and SELL at €1.20 in Dec 2016 (11% Euro Increase over 3 months)
o BUY GBP in Aug 2017 at €1.08 at any stage over next 100 months (2 - 7 % Euro Increase over
o those 100 months). If you sold before reaching the 200 week moving average you would have nailed this trade with min 7% profit.
o BUY GBP in Aug 2019 at €1.08 and SELL in Dec 2019 at €1.20 in Dec 2019 (11% Euro Increase
over 5 months).
o BUY GBP in Mar 2020 at €1.08 and SELL in Dec 2019 at €1.13 in Apr 2020 (5% Euro Increase
over 1 months). Again selling before reaching 200 week moving average resistance would have been a great tactic.
Obviously for those wanting to increase their GBP they can inverse this concept and contra trade these moves. If anyone would like a similar chart for positioning in EURO to increase GBP, please ask in the comments.
What’s interesting is that historically the months of Aug – Oct are good buy opportunities for people wanting to increase their EURO holdings via GBP positioning. Whilst we are in that time frame at the minute, our RSI is not providing us with a definitive signal and as we are closer to the upper Sell Zone there does not appear to a reasonable trade at present using this strategy.
Going forward we can press play on this chart on trading view and see where price has moved and if an opportunity presents itself. I will keep you posted on if we move into the red or green.
PUKA
6BV3On the backside of the short we can ape in for the bounce off the bottom, would not recommend futures as the open interest on the contracts will be low, options is how to play this. Safe side is sell the put (don't advise selling naked unless you can manage the trade at all hours) or a credit spread to hedge any risk. This will provide ample time to collect the premium through any volatile price actions. I will be buying the call (naked) this is a much riskier trade and the "WIN HERE" line is meant for me not sellers of the premium.
Disclaimer I took the trade out yesterday but still feel there is room to publish the idea. This is why I recommend selling the premium rather than buying the call.
GBPAUD Buy opportunity emergingThe GBPAUD pair hit our previous Buy Target as presented (see chart below) last month:
The price has now been pulling back within the 7-month Channel Up in search of the next Higher Low. This should be formed at least on the 1D MA50 (blue trend-line) as it did twice before. As a result, we will wait for that buy opportunity and target 2.01500 (1.236 Fibonacci extension).
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$GBDUSD Head And Shoulders Pattern$GBDUSD Head And Shoulders Pattern, The Head and Shoulders pattern is a well-known technical analysis pattern that typically indicates a reversal in a prevailing trend. It is characterized by three distinct peaks or troughs – a higher peak (head) flanked by two lower peaks (shoulders) on each side. This pattern is commonly observed after an uptrend and suggests a potential shift from bullish to bearish sentiment.
The formation of the Head and Shoulders pattern consists of the following key components:
1. **Left Shoulder:** The initial peak in the pattern forms as the price moves higher, representing a continuation of the existing trend.
2. **Head:** The highest peak among the three, the head, forms as the price advances further. It signifies a last attempt by buyers to sustain the uptrend. At this point, bullish momentum weakens.
3. **Right Shoulder:** The third peak, similar to the left shoulder, is lower than the head. It indicates a struggle between buyers and sellers and often comes with decreased trading volume.
The significance of the pattern lies in the neckline – a trendline drawn through the lows between the left shoulder and the head, and the head and the right shoulder. The neckline acts as a support level, and a breach of this level is seen as a confirmation of the pattern. Once the neckline is broken, the pattern is considered complete.
Here's how traders often interpret the pattern:
- **Confirmation:** A valid breakout below the neckline after the formation of the right shoulder signals a potential trend reversal. This is the point at which traders might consider opening short positions.
- **Price Target:** The expected price decline after the breakout is roughly estimated by measuring the vertical distance from the head to the neckline. This measurement is then projected downward from the neckline breakout point.
- **Volume Consideration:** Volume can play a crucial role in confirming the pattern. Typically, volume tends to decrease as the pattern forms and then increases when the neckline is broken, indicating strong selling pressure.
- **Failed Patterns:** Not every Head and Shoulders pattern results in a reversal. Sometimes, the neckline is tested but not broken, leading to a continuation of the original trend.
- **Inverted Head and Shoulders:** Conversely, an inverted version of this pattern can occur after a downtrend, indicating a potential bullish reversal.
Traders often use additional indicators, such as momentum oscillators and volume analysis, to confirm the potential reversal signaled by the Head and Shoulders pattern. Like all technical patterns, it's important to remember that no pattern guarantees a particular outcome, and successful trading requires a combination of analysis, risk management, and adaptability to changing market conditions.
British Pound Futures 6BV3Disclaimer-Doing this mobile, it really sucks to be honest but here we go.
British Pound October 2023 - Short
Why V instead of U, concerns about the open interest on the September contracts on the CME. Open interest shirks about one month out, don’t get left holding the bag. For option traders, this does not affect your trade, your preference should be 6BU3 not 6BV3, futures is different.
In the last 15 years has a probability of success of 66%. Not the greatest however this 66% is “targets achieved” so as long as it is managed and not “set and forget” you should get some profit out of it. My first target for assessment is at 1.25$ or about there (mobile) that is a .02->.03 draw down and then the king killer target is at 1.21 which is over the last 15yr the high end for profit (.07$) which also lines up with support levels. However just because it lines up doesn’t mean sh*t. Setups could include a calendar spread, back end contract best option would be March imo, or you can hedge the risk on the USD (DX! U3 or V3 on ICE or something)on a long dated or tight (close stops)6BV3 contract.
Option dawgs
Best case you buy the put and are in it for a short time bc extrinsic value on the option contract will increase so I would not leave it open til the 29th unlike a futures contract. Selling premium here instead is safer however you won’t make as much $ as a bought put. I may wait on the credit side until it recovers in Dec. Whether you’re running the option naked or as a debit spread it should be managed regularly.
I cannot post external sites/info however reach out to me and I can provide further documentation. Hope this is readable……
“Where are the kids?”
-kewlkat
British Pound can exit of range and continue move down to 1.2580Hello traders, I want share with you my opinion about British Pound. By observing the chart, we can see that the price a few moments ago declined inside the downward channel, in which it fell below the 1.2870 resistance level to support line of the channel. After this price rebounded from this line and made a strong upward impulse to 1.3000 point, thereby exiting from the downward channel, but at once started to decline and fell back to the resistance line. Next, the British Pound bounced up to the resistance level, which coincided with the seller zone, and soon rebounded down and entered to range. Inside range, the price fell to the 1.2655 support level, which coincided with the buyer zone, but soon bounced back and some time traded near this level. After the price fell to the bueyr zone again, it later rebounded and rose to the top part of the range, and a not long time ago British Pound rolled down of top part and fell back. But soon it rebounded from the buyer zone and at the moment British pound trades near the support level, and I think that the price can continue to move down to the support level and maybe the price can try to break it. After a breakout, the British Pound can make a retest and then continue to decline, thereby exiting from range. Therefore I set up my target at 1.2580. Please share this idea with your friends and click Boost 🚀
EURGBP - Bearish Double TOP 📉Hi Traders!
On The Weekly Time Frame The EURGBP Price Reached A Supply Zone (0.86833-0.86860)
Currently, The Price Formed a Double Top Pattern📉
The Neckline is Broken🔥
So, I Expect a Bearish Move📉
i'm waiting for a retest...
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TARGET 1: 0.85150🎯
TARGET 1: 0.84700🎯
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GBPCAD - BULLISH DOUBLE BOTTOM📈Hello Traders!
On The Daily Time Frame The GBPCAD Reached a Strong Support Level and 0.61 Fibonacci Retracement!
Currently, The Price Formed a Double Bottom Pattern.
The Neckline is Broken🔥
So, I Expect a Bullish Move📈
i'm waiting for a retest...
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TARGET: 1.72950🎯
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British Pound can break support level and fall to 0.8520Hello traders, I want share with you my opinion about British Pound. Observing the chart, we can see that the price some day ago bounced from the buyer zone, which coincide with the 0.8555 support level and reached the 0.8655 resistance level, but then it started to fall and entered to the downward channel. Inside the channel, EURGBP declined a lower 0.8555 support level to the support line of the triangle, and then it rebounded up to the resistance line, thereby breaking the 0.8655 resistance level, which coincides with the seller zone. But soon, the price bounced down and fell back to the support line, which coincided this moment with the buyer zone and 0.8555 support level. After this movement, the British pound rolled up to the resistance line, made a fake breakout of this line, and reached the 0.8655 resistance level. But a not long time ago price fell back to the support line and even broke it and now the British Pound trades near the 0.8555 support level. In my mind, EURGBP can decline to support level and try to break it. If the price breaks this level, it can make retest and continue to fall. For this reason, I set up my target at 0.8520. Please share this idea with your friends and click Boost 🚀
GBPUSD: Channel Up broken downwards. Bearish mode right now. GBPUSD crossed under its four month Channel Up pattern, as well as closing under the 1D MA50, thus turning the 1D timeframe bearish (RSI = 43.717, MACD = -0.001, ADX = 34.501). Currently this is a sell signal, targeting the 1D MA100 (TP = 1.2625). Every Support (S) broken, will be a sell signal for the next one. We are buying only if the price crosses over the 0.618 Fibonacci level or the 1D MACD completes a Bullish Cross. In both events, our target will be the 1.382 Fibonacci extension (TP = 1.3335).
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GBPCAD: Double long term Buy opportunity.GBPCAD is testing the 1D MA50 as Support on neutral 1D technicals (RSI = 49.135, MACD = 0.001, ADX = 29.493). This is an early buy signal. However since the long term pattern is a Channel Up, the downside potential extends as low as its bottom of the HL trendline. Throughout its formation, the 1D MA100 has constantly provided Support, more specifically three times since February 16th.
Consequently, if a 1D candle is closed under the 1D MA100 (again it will be the first time inside this eight month Channel Up), we will add a second buy position near the 1D MA200. The current buy (1D MA50) targets the top of the Channel Up (TP = 1.74500), the lower buy targets the 1.382 Fibonacci extension (TP = 1.75150).
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EURGBP Wait for a higher sell entry.The EURGBP pair is trading within a Channel Down pattern since the February 03 High and right now is attempting to make a rebound on the 1D MA50 (blue trend-line). The Resistance from the recent High is at 0.87025 (Resistance 1) and is near the spot we expect the next rejection to take place as it is also where the 1D MA200 (orange trend-line) is. We will use that opportunity to sell and target initially Support 1 (0.85050) and then Support 2 (0.84100) in extension.
A good sell confirmation signal can be when the 1D RSI breaks below its Higher Lows trend-line, followed by a rejection on the 1D MA50 as a Resistance.
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GBPNZD: Supported on the 1D MA50. Trade these levels.GBPNZD has turned sideways basically for a whole month (since June 28th) as it is restrained under R1 (2.092225) while being supported by the 1D MA50. This has turned the 1D timeframe neutral (RSI = 53.387, MACD = 0.005, ADX = 22.546), which is an expected technical outcome.
We will trade this setup on a breakout basis. A crossing over R1 is a buy signal targeting an aproximate +4.95% rise (TP = 2.15000). A crossing under the 1D MA100 and naturally the HL of the Rising Megaphone, is a sell signal targeting S1 and the 1D MA200 (TP = 1.98500).
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GBPJPY Short term sell opportunity ahead.GBPJPY is rebounding after marginally breaking under the 1day MA50 for the first time in 4 months.
This is a similar type of rebound as April 23rd 2021.
That sequence traded inside an Ascending Triangle.
Wait until the price hits the top and sell, targeting the Support at 177.000.
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British Pound can bounce from seller zone and continue to riseHello traders, I want share with you my opinion about British Pound. By observing the chart, we can see that price a few days ago declined to support line of the upward channel, thereby breaking the 1.2500 support level, which coincides with the support area. Inside channel price rebounded from the support line and made impulse up to the resistance line of the channel, thereby breaking the 1.2500 support level again. After the price reached the resistance line, it at once bounced down and made a small correction, and then continued to rise. The British Pound rose higher at the 1.2850 level and the seller zone and even later made a fake breakout, after which bounced down to the support line of the upward channel, breaking of 1.2850 level. But a not long time ago price backed up and now trades inside the seller zone. In my mind, the price can rebound from the seller zone and start to rise to the resistance line of the upward channel. For this reason, I set up two targets, the first target at the 1.3000 level. As well, I think the price, after reaching the first target may continue to grow. Therefore I set up a second target at the 1.3185 level, which coincides with the resistance line of the upward channel. Please share this idea with your friends and click Boost 🚀
GBPAUD Buy signal at the bottom of the Channel UpThe GBPAUD pair gave us an excellent buy signal last time we looked at it (see chart below) on May 9:
The price remains within the 6 month Channel Up pattern and is currently rising after a Higher Low formation on the 1D MA50 (blue trend-line) early this week. This is a bullish signal, based on which we are targeting the 1.97300 Resistance. That would be a +4.65% rise from the bottom, which as this chart shows, has happened twice.
If however the price breaks below the Channel Up, we will open a short when it breaches the 1D MA100 (green trend-line), which is holding as Support since March 03 2023, and target the 0.5 Fibonacci level at 1.83150. That will make also contact with the 1D MA200 (orange trend-line). An early sell signal will be when the 1D RSI breaks below the Higher Lows trend-line that is holding since March 07 2022.
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GBPUSD Approaching the 1day MA50. Buy signal.GBPUSD had a technical rejection at the top of the Channel Up.
The 1day MA50 is the Support at the bottom of the Channel Up, as it has been intact since June 8th.
This is a buy opportunity. Target the standard +4.30% rise at 1.3300.
Previous chart:
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