Downtrend is in full effect and based on the pattern here, i expect there is more to come. Selling the breakdown here would be an ideal way to enter.
What do you guys expect on this? Do you see correction cycle and then sell again?
I know no one wants to touch GBP pairs with a 10 foot pole but I think we might finally be in good territory for jumping into some GBP strength. Here's what I think we could start with... 1. The flash crash high has held very nicely on this pair, it looks like a short term top for now 2. There's a long term trend line that gets re-tested over and over again...
we have a up channel that reach resistance area and i think it will go down, good opportunity to sell it for 500 pips :D wish you all the best
price at monthly resistance, see what happens, long on breaktrough
EURGBP pair is close to the absolute maximums reached by 2008. The magic of the Parity is strong again, specially, with the Cable dropping hard since recently. But GBP is, at the same time, at the lowest levels since more than 30 years to the US Dollar. Both currencies may start a bullish run but the Cable will have an advantage of a lower base. I believe EUR...
A close below the trendline on the 4 Hour time frame; with bearish confirmstion on the 2H or 1H time frame would be looking for a short entry to downside extension 1.27 at price level 0.88150.
This one looks even better on the 4HR timeframe but i'll be playing it on the hourly. Enjoy
The trend is now a bearish bias and is waiting for the Gap to be filed
Reasoning - Way overbought - failed to make new highs - double top - break of bullish trend line
Very strong movements from the get go today, been watching the movements since 22nd Sept. Decided to jump in with small lots. Currently learning to chart, so excuse errors - learning the basics of ABCD and support/Resistance.
- Short - R/R ratio > 1 - Weekly resistance area - looking for small draw down at first, potential for larger position if break down again through fib line.