GBPUSD PRICE PREDICTION After a great rise in the GU pair we're nearing the dynamic resistance
Expect a drop of around 100 pips in the coming week (1.39 level)
The TREND is your FRIENDS until it ENDS!
Cable
GBP - BULLISH but for how long? 1.40?!GBP - One of my favourite currency pairs!
How's everyone doing? What's your favourite currency pair to trade? Do you have an edge? If not - Work hard and create your own edge - I am sure 100% you can and will accomplish that goal. If you don't know what edge is - Message me privately.
Sometimes, you don't actually need to trade all the currency pairs and concentrate on selective few that you may have further interest in creating your edge. I've been loving trading GBP - Scalped, day trades and even longer term trades kept for months! It's been great currency with the fundamental & technical aspects...BUT how long do we keep buying for? Well there are key resistance areas within longer time frames that you can analyse further in depth.
Quick outlook:
GBPUSD Technical aspects:
Pattern: Bullish flag Measured towards high ends of 1.39 areas nice confluence of Fib area.
Support: 1.38565, 1.38435, 1.38130
Resistance: 1.39250, 1.39460, 1.39705, 1.39955 - 1.40
IF we go below 50 EMA - I'd say bears will gain control.
Pay key attention to 1.39 half area!
Key tip: Don't go following or copying other peoples plans - Add further CONFLUENCE - Follow your own trade plan! It's more prosperous in the long run.
Have a good day.
Trade Journal
(Disclaimer: Just a trade idea, not a recommendation)
gbp usd longLongs from this area are now looking nice. We look to have broken our counter trend line, rejecting 50ma and 61.8 fib zone.
I'll be watching price action on lower time frames for further confirmation!
I recently posted a short idea on this pair but this is trading, have no bias and simply trade what you see!
GBPUSD - 1.385 SupportWe had covered this asset with a nice video on Feb 4 , at a time when mostly sellers were arisen around me with sell ideas, due to technical factors.
I remained Bullish on the cable (GBPUSD) and still looking for Long set-ups.
Take a look at my updated chart here.
Technical 4h Swing GBPUSD Short 1:9.5Expectations are a decline.
Instructions - if trade flat or has not moved in the next 24 hours, take small loss or small profit.
Trade with caution, this is not financial advice.
Entry: Market
SL: 1.39550
TP: 1.36500
GBPUSD - Potential Short (SELL) Entry DevelopingGBPUSD has continued with it's bullish up-trend with the current risk-on market sentiment.
I've identified A potential level for an overdue retracement at the 140.0 level - this is a strong psychological level, and it also aligns nicely with the current bullish trend line.
I've identified other factors including correlation which supports this short term retracement idea.
Shorting GBPUSD is a high risk endeavour at the moment and this is the only area with the highest amount of confluence for a "safer" short attempt at the moment.
Technical 4h Swing GBPUSD Short 1:8.5Expectations are a decline.
Instructions - if trade flat or has not moved in the next 24 hours, take small loss or small profit.
Trade with caution, this is not financial advice.
Entry: Market
SL: 1.39300
TP: 1.36500
Gbpusd short ideaHi there.
I see this pair is creat a bearish momentum. And market is so over extended. At this moment i see a sell opportunity in this pair. Next is next. Wait for market update.see you leter
GBPUSD SHORT AT RESISTANCE TRENDLINE~GBPUSD has rebounded out of the resistance trendline and is now pushing to the downside! We are targeting the 0.382% fibo level.
GBPUSD H4 - Long SetupGBPUSD H4
Looking to realise this full correction down to 1.37400, probably something we focus on next week as opposed to this week.
Been a while since we saw a cable pullback, so this will be good for us to look to position ourselves in line with potential GBP longs again.
GU Bull to 1.421.42 is first fib extension. could see retest of 1.348s. could bounce and keep going tween 1.372 - 1.376. been riding the weekly 9ma and bouncing off the 4h 100ma.
Fundamentally, we all have our reasons.
Technical 4h Swing GBPUSD Short 1:5Expectations are a decline.
Instructions - if trade flat or has not moved in the next 24 hours, take small loss or small profit.
Trade with caution, this is not financial advice.
Entry: Market
SL: 1.38500
TP: 1.36500
Resistance becomes support#GBPUSD: Having broken the rising trend line, price is now looking to test it as support level. Failure to break back down will give the bulls the strength to break upwards past the 1.3870 supply level. Demand levels 1.38 & 1.3760 should be strong enough to absorb the sell volume.
GBPUSD Buy - Ride the waveGBP USD is trending to the upside and has done a break and retest on the intraday timeframes. With the usd being a sell we anticipate this trade to have some continued upside.
GBPUSD - Is it time to FADE?WEDNESDAY - Half way through the week!
GBPUSD - I like the long side for GBPUSD for months. It's a great trade that has had great momentum, I stuck to my trade plan, being disciplined is key and built long positions along the way - I am now scaling out of my positions!
On my FX weekly I posted out to various groups I am part of - It's FREE to subscribe. It's explaining the FX majors for the week ahead, if you're interested - Message privately.
I stated GBP above 1.37 you'll get 1.38 coming into play as well as perhaps 1.40 areas...However, for those who have been trying to fade GBP for while, You may just get your chance...Let me explain further!
Technical Aspects:
Pattern: Channel - At resistance
Fib Retracement - Fade Area
Support: 1.37830, 1.37580, 1.37370
Resistance: 1.38250, 1.38550, 1.38600, 1.38860
Fundamental events:
1. US CPI
2. BOE Gov Bailey Speaks
3. Fed Chair Powell Speak
How could you play this trade:
- Following your own trade plan to add further confluence
- You could wait for candle formation, candle close, bearish pattern or perhaps an indicator that is on your trade plan
- Add orders at certain resistance zone areas
Have a great day ahead,
Trade Journal
(Disclaimer: Just a trade idea, not a recommendation)
GBPUSD - WEEK AHEADSo the Bullish TL from the March lows is still firmly in tact. But we need to break this resistance to push higher. The first target is pretty obvious, with the psychological 1.40 but technically, the first resistance after it breaks here is 1.44.
Pull back area for the corrective sells also could be valid with sells below the 23.6% Fib level showing a valid break of this consolidation.
GBPUSDConfluences:
- Generally strong support and resistance zone formed
- Expecting a push to the 1.375 resistance zone
- Once we see a rejection at the 1.375 level we will look to sell at 1.373
GBPUSD INSIDE BAR BREAK UPGBPUSD on the 4h chart is making inside bar, an inside bar on the 4h chart basically represents a 1h consolidation, so you look for price to break the previous candles high and you place your stop beneath the inside bars low. these offer great risk reward and usually fast impulsive trades, so fingers crossed
