GBPUSD - In Search of Higher Prices Near-Term Hello and welcome back. If you found this idea helpful, please leave a like. GBPUSD seems to be still looking for higher prices. I am looking for the highs above us to be taken out and trade into the red line. I will have to monitor how GBPUSD reacts at the red line to determine what happens next.
Cableshort
Shorted GBPUSD Maybe a little late for a call but I just wanted to record this as my own personal journal entry. I shorted GBPUSD Prior to the FOMC Meeting Minutes in anticipation of a rise in the DXY. Also I saw that GBPUSD was unwilling to make a higher high so I didn't see a break in market structure, so I thought a short for a scalp was possible. Entry was 1.29165, SL Was 1.29350. TP is far off at 1.28700. Just looking to make 20 - 30 pips heading into the Asian Range. At the time I'm up 7 pips.
Again just recording this for personal use, not to be confused with a call.
GBPUSD Retracement - Waiting for High Impact News. *OHLC* As I had mentioned in my previous idea, I was looking for a lower objective for the week, but I also accepted the idea of a possible retracement. If my objective was going to be reached, Cable would have needed to immediately expanded to that on Monday. As of right now, the objective I had for the week on Cable may need to wait. I am still overall short on Cable, but I am now open to the idea of being nimble (scalps) with longs.
GBP/USD - Ichimoku ShortThis pair ended up trending down pretty well and I'm looking for that trend to continue leading up to the US election.
I am looking for a slight drawback higher and a good rejection to enter my sell.
I've drawn out some partial take profit levels to aim for along the way to my overall price structure target.
If we fail to get a rejection lower or if our bearish confirmations change, this setup may become invalidated.
GBPUSD looks exhaustedI feel the inability for GBPUSD to break through the 1.315 level means it looks fairly exhausted and i'm expecting a drop in the coming weeks to 1.2760 or thereabouts. If it wasn't for the USD being tragically weak at the moment i believe this would happen sooner rather than later. The UK economy is officially doomed for now, the US not so far behind. Lets see how this plays out.
GBPUSD short trade. Good morning traders today i am looking at the gbpusd (the cable) and I have observed that GBP broke the down trend created on Brexit and over all dollar weakness, however price has respected the price level of 1.32100 and i would like to take this as a shorting opportunity and head back to touch the bear trend line and retest that low of 1.24972 created in the last sell off.
GBPUSD - EXPECTING A SHORT TERM BEARISHNESSGood day Traders, My analysis on cable remains strongly bullish. However, looking closing at the chart, you would observe that the pair has reacted to a previous weekly high as well as a level of resistance which is the portion shaded red.
I am expecting a short term bearishness in the form of a pullback and will be studying price action around key levels marked up.
It is important to remain patient until the market gives a clear indication, and starts breaking structure on the lower TF.
Target 1: 1.28134
Target 2: 1.26696
Happy Trading and Stay Safe Folks.