Cable
GBPUSD PREDICTIONVery bullish personally but as always we have both routes planned.
Chart explains everything, 4hr close above resistance and we're in.
GBPUSD breakout imminent the week of 01 Feb 2021Recent price action on this pair has been choppy but grinding higher all the time. As my weekly chart (below) shows, the 1.3750 area has become a barrier that price has been unable to overcome since end Apr 2018.
Back to the H4 view, let us examine price action for the last 10 days. We can see a series of higher lows, while the highs have remained consistently capped in the 1.3750 region. I see this PA as a squeeze in progress. I am expecting that the bears will weaken while the bulls will grab a better control of the market during the next few days. I am watching with a bullish bias, expecting price to impulsively break out to the upside sometimes in the coming week, while also keeping an eye on DXY.
For trade location, an aggressive entry would be when breakout occurs, while a conservative approach would be to wait for a retest of the breakout line. The region around 1.4000 would a good choice for the initial target, while 1.4350 is certainly possible for the patient trader.
If my analysis is correct, we could have a nice Multiple R trade either way.
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As always, please use sound money and risk management in all your trades.
GBPUSD shortonly if the PA breakout , PT 1.3460 , no SL , as soon as there is pull back up to the support (also back to the channel again) then close it.
ridethepig | EURGBP Finding a Floor📌 ridethepig | EURGBP Finding a Floor
After the preparatory manoeuvre, passive sellers are keeping a close eye on the 0.882x ABC target and already starting to cover. Sharp Buyers were aware of this and made the transition to attempt a base formation. With ECB / FED now cleared there is the customary inventiveness to continue with the rally. What we are trading here is the expectation of BOE cuts and calling bluff on ECB holding pattern.
On the GBP side, we have been given a data from Johnson for March where kids will return back to school. Taking it with a pinch of salt once more and recommend resisting temptation to park in GBP. BOE has room to cut rates and with Brexit impact starting to enter into play, the flows will become clearer. Technically taking 0.893x will open the floodgates for a momentum gambit towards the highs, while to the downside 0.887x/0.882x area will continue to be the loading zone.
Thanks as usual for keeping the feedback coming 👍 or 👎
GBPUSD SHORT GBPUSD -Short prediction to the Last week low
Weekly high already in place
Smart Money at the Last week Low
Month End is good reason to sort the market 40-50%
comment and follow my ideas
Thank you
Expecting GBPUSD To Rally From Here! BUY GBPUSDHi traders, we have a potential long opportunity here on the GBPUSD based on a 123 strategy (middle line reversal).
Good Luck Traders
A Gift From ME To You! BUY GBPUSDHere we have the pound at a support level which i expect it hold and give us a move back up into previous structure. This is a simple technical analysis that doesn't any further explanation.
Good luck traders
Successful Short Trade (BOOMER Market)Cable (British Pound Sterling , GBPUSD ) is in an obviously beautiful BOOMER market, accelerating North!
During an Uptrend market like this is, one of the wise things to do - is to ride the wave, buying on dips.
As per the CONDI Trading System rules, the only trading allowed in this setup is (strictly!) with the trend.
T.m. only taking Long trading opportunities, 100% confirmed by the CONDI Trading System.
Recognized (yet another) such opportunity at point marked with the callout.
Trade successfully closed with profit within 9 1h candles.
Happy CONDI trading!
GBPUSD opportunityPrice reached and strong daily chart resistance near 1.38. A break above would indicate probable target levels at 1.40 and the potential to continue higher.
The end of uncertainty with Brexit seems to have put more faith in GBP.
Good Luck and Stay Healthy!
GBPUSD retest on Resistance ... againBullish momentum still intact as of now.
Do not short until the buying momentum fade away.
Chart GBP/USD Update: Limited scope above 1.3600The pullback towards 1.3500 has given way to a corrective bounce from 1.3520~, whilst oversold intraday momentum studies unwind.
FX:GBPUSD is trading around 1.3600, but falling daily stochastics and the bearish Tension Indicator are expected to cap any break to below the 1.3675 Fibonacci retracement.
Following corrective trade, downside levels are expected to attract, with a later close below 1.3500 adding fresh weight to sentiment and opening up the 1.3450 weekly low of 11 January.
GBP/USD ConsolidatingVery strong resistance was broken at 134.5 level. Since breaking this level it has touched it twice and found support. If the Dollars short term strength continues in the coming days this support will offer a good long entry. There may be some resistance at 1.38 so it could be worth taking profit there or wait for 1.40 for a longer term target.
GBPUSD - WEEKLY PREDICTIONEven though I'm expecting dollar strength this week, I think this is the strongest outcome. There are too many confluences around the 1.35500 area. Obviously a close below this negates and should see previous LH retested.
GBPUSD PULLBACKA good time to enter would be if the 4h chart can make a pullback to the 0.382 and the volume profiles breaker. i have an order set at 1.36
GBPUSD (Long)An ABC long and my first official trade on the cable, it feels good to place an order on the currency I use. I'm in two minds about waiting for the stochastic to provide a buy signal however the shape of this ABC looks sharp and I don't want to miss an entry. Having never traded the Cable before I have a preconception that it doesn't hang about when impulsive waves are present. so I'm going long and learning along the way.
🔰 GBP/USD - Daily Update 🔰🔔 The long-term outlook for the pound is bullish this year — Our entry from last night is running 55+ Pips in profits ✅🌱
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GBP / USD (CABLE) LongWXN TRADE IDEA
Buy GBP / USD @1.35500
Stop Loss: @ 1.35300
Take Profit: @ 1.36100
But we recommend that you take profit when you're happy.
Bearish depletion and a sign of bullish structure at the support created around the 1.36500 area.
Risk: 20 pips (1R)
Gain: 60 pips (3R)
Risk/Reward : 1:3
GBPUSD PREDICTIONI think we could be coming to the end of the bull run for GU with this ending Diagonal but as always we're prepped for both situations.
Also a bit of Bull Flag formed.
GBPUSD December OutlookThe cable has had a bullish run so far for some months. A swing low(as shown in the chart) was formed and price continues its bullish run. I expect price to continue its bullish run to the order block at the 1.3700 price level (also shown in the chart). There seems to be a lot of liquidity at the level as a result of relative equal highs which makes it an added confluence and high probability to go bullish to the order block. As per the analysis I expect a 'bullish cable Christmas'. haha. Follow me for more trade ideas and general market commentary
