Double topThe price has formed a double top pattern, so we can reach the Fibonacci level of 0.5 as indicated on the chart.
Britishpound
Liquidity Zone - Opportunity ZoneThe price is moving in a downward channel.
We have a strong liquidity zone under the support level.
I expect price to bounce off from the lower boundary of liquidity zone.
Bullish takeoverThe price is moving in an upward channel.
The price formed a bullish takeover on the 1H timeframe.
I expect the price to reach the resistance level.
GBPCHF in a triangle GBPCHF is moving inside a triangle and price has got stuck between FTC Level and an uptrend. Breaking the trendline will be followed by a correction.
Continued movementThe price is at the lower boundary of the uptrend channel, near the support level.
I expect growth to the nearest resistance level.
Will Euro Reverse Against the British Pound Post ECB and BoE?Following a surprise hawkish pivot by the European Central Bank as the Bank of England raised rates to 0.50% from 0.25%, EUR/GBP rallied the most since April 2021 this week. With markets already pricing in an aggressive BoE, that may leave room for equivalent ECB bets to catch up ahead. That could leave EUR/GBP tilted higher.
The pair also closed at the highest since late December, reinforcing the key 0.8277 - 0.8364 support zone that has been in play since 2016.
Even though EUR/GBP has been aiming lower since 2020, a closer look reveals that the pair has been consolidating for over 5 years. This has created a large rectangle where the ceiling lays around 0.9270 - 0.9499.
The latest bounce off the floor of the rectangle may open the door to extending gains given confirmation. That would prolong the pair's long-term range-bound trend.
Immediate resistance appears to be the 78.6% Fibonacci retracement at 0.8538 before a potential falling trendline from 2020 may come into play.
On the flip side, a close under the rectangle floor, with confirmation, may hint at ending consolidating, leaving the pair at risk of extending losses.
FX_IDC:EURGBP
EURGBP bullish takeoverThe price went up very quickly after the bullish absorption, so I expect a small correction, and then the growth to the level of 0.83615.
Fan punchingThe price has broken through 2 fan lines, holds the support level and the uptrend line.
Two bullish candlestick patterns emerged.
I expect growth up to the level of $1.3692.
Breaking through the descending channelThe price has broken through the upper boundary of the ascending channel.
Stochastic RSI is locally oversold.
I expect a small correction of the current momentum and then growth to the target indicated on the chart.
GBPUSD rising wedgeThe price has formed an ascending wedge pattern.
The movement broke through and consolidated above the support level.
I expect that the price will reach the level of $1.3655
Buyers weakenedThe price movement is sandwiched between two lines.
The price made 3 false penetration of the downtrend line, formed 2 ascending triangles, from which it went down.
I expect a further decline to these levels.
Continuation of the movementThe price is near the lower boundary of the uptrend channel, near the support level.
The oscillators are neutral.
I think that we can rise from the current level.
GBPUSD LongHey traders, in today's trading session we are monitoring GBPUSD for a buying opportunity around 1.36 zone, once we will receive any bullish confirmation the trade will be executed.
Don't forget to support us with like and comments for more contents!
Trade safe, Joe.
GBPCAD ShortHey traders, in today's trading session we are monitoring GBPCAD for a long term selling opportunity around 1.73 zone, once we will receive any bearish confirmation the trade will be executed.
Trade safe, Joe.
GBP/JPY - BUY ANALYSIS ( FUNDAMENTAL AND TECHNICAL )In this video, I breakdown why the pound has been going up in value against the Japanese Yen since 2020 as higher interest rates in the UK is attracting money out of Japan and into the UK.
I also show why currency traders are only buying this currency pair as UK Rates make it profitable to hold this trade open overnight as you get paid FREE money into your account by your broker. Known as the carry trade rollover.
Enjoy !
GBPCAD approaching a top. Sell opportunity.GBPCAD has been trading within a Channel Down pattern since the February 24 2021 High. That was the first of a series of Lower Highs. Right now the 1D RSI is approaching its multi-year Resistance level, same way the pair is approaching the top (Lower Highs trend-line) of the Channel Down. The very same RSI pattern has formed the Lower Highs within the Channel Down. We are turning bearish on this pair targeting just above the 1.236 Fibonacci extension at 1.65000.
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Double top on the EURGBP chartThe price has formed a "double top" pattern.
The movement is near the trend line, but below it.
I think that at the current level we will fall to the level of $0.83612.
EURGBP pair broke the upward structureBuyers have bought off the last candle well, but so far they are not allowing it to consolidate higher.
I think we will reach the resistance level and then the price will continue to fall.
The double top model on the EURGBP pairThe trend of the movement is within the descending channel.
Several times rebounded from the 200MA.
The price has formed a double top pattern.
I expect that the price will test the support level, the upper border of the channel and only after that will continue the downward movement.
GBPCHF Sell signal: Lower High and 1D MA200 rejectionGBPCHF has been trading within a Bearish Megaphone pattern almost since the start of 2021. At the moment it is trading sideways for more than a week in a row but even though it has tested the 1D MA200 (orange trend-line) on multiple occasions, it has failed to close a 1D candle above it and make a bullish break-out.
On top of that, the 1D MA200 rejection, is also a Double Top rejection on the 1.26125 Resistance level. Also the 1D RSI is on Lower Highs, which that was the formation on the pairs last rejection at the top of the Megaphone on October 20 2021. The result of that Lower High top was a price dive to the 1.5 - 1.618 Fibonacci extension levels once the 0.5 level broke.
At the moment the 0.5 Fib level is at 1.24455. If that breaks, I will take it as a sell signal with a 1.21000 target (within the 1.5 - 1.618 Fib extension zone).
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GBPJPY : Gap closingThe price went down out of the ascending channel.
The gap opened earlier was closed.
I expect a correction to the support level with further breakdown of the resistance level.
GBPUSD Downward wedgeGlobally, the price is within a downward wedge.
Bearish divergence of the chart and stochastic RSI at 1H and 4H.
I expect a retest of the upper boundary of the wedge and then a fall to the lower boundary.
EURGBP between levelsBroke through the downtrend line and the level of 0.83664.
I expect fixing above the support level and buying near the level of 0.837, and after the movement to the resistance level.
Keep calm and hold the trend linePrice continues to hold the uptrend line.
It has consolidated above the support level.
Sellers have held the resistance level.
I expect a retest of the support level and then a move to resistance levels.
