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F-GBP

NASDAQ ready for a bull rebound?!NASDAQ and the general US stock market could get a big boost this week, or atleast early on in the week based on the "expectation" of the 1.9$T stimulus deal coming up on Tuesday for voting, but we also get important inflation data on Wednesday, specifically the CPI and Core CPI data out of the US and we all know that in terms of fundamentals, that's exactly what the market is focused on! This video explains a little of why i'm long US100 / NASDAQ and goes over my watchlist a little more. Hope you enjoy it and questions/comments are very welcome!
OANDA:NAS100USDLong
by PrimedGroup
GBPUSD facing bullish pressure, potential for upsidePrices are taking support from 1st support level which coincides with graphical swing low support as well as 61.8% Fibonacci retracement and Fibonacci extension. Prices might swing higher towards 1st resistance level which is the graphical swing high resistance which coincides with 50% Fibonacci retracement as well as61.8% Fibonacci extension. If prices fall below first support, prices will probably lower down to our 2nd support which coincides with 100% Fibonacci extension. Stochastics is also in line with our bearish bias.
Long
by FXCM
7
GBPJPY facing bullish pressure, potential for further upsideGBPJPY is facing upside pressure from ascending trendline support on the daily and weekly timeframe. It is also taking support from the horizontal swing low support which coincides with the 127.2% Fibonacci extension as well as the 161.8% Fibonacci extension. It will probably bounce to our 1st resistance which is our horizontal swing high resistance as well as the 61.8% Fibonacci retracement level. If prices fall through, our stop loss will be at 2nd support which is our horizontal swing low support as well as the 78.6% Fibonacci retracement level. MACD is also suggesting that prices are bullish.
Long
by FXCM
3
NEVER TRADE AGAINST THE TREND - GBP USD BREAKOUT REVERSALThis summary of the recent rally on the GBP USD highlighted the important rule of never trading against the main direction of the trend. The only exceptions to this rule are 1. Reversals at Major Resistance/Support Consolidation Boundaries of the Monthly, Weekly or Daily Charts. 2. Reversals at Major Resistance/Support Price Points of the Monthly, Weekly or Daily Charts. In the absence of any of these scenarios, trading in the general direction of the Daily Chart is always your better choice. As you can see, there was a recent attempt by the market to start a Bearish Breakout from the Consolidation on the 4 Hour Chart overnight but this was short-lived. This movement was taken out by the Sharp Bullish Rally this morning in reaction to the sterling-positive outlook from the Bank of England. Essentially, the Bank of England stated that inflation was expected to rise to 2% which in the context of the current global pandemic and economic downturn is a very positive outlook for the British Economy. Statements like these are always positive for the currency in question and so the natural reaction of the market was to buy the sterling. Even in the absence of this statement , the GBP USD was always going to rally because of the fact that the Outer Uptrend Line was still holding, despite the break of the Inner Uptrend Line. So as long as the momentum of the market is still Bullish, trading in favour of the GBP is going to be the better option. First Strategy. Trade the False Breakout Reversal to Resistance of the 4 Hour Pennant. Exit and wait. Second Strategy. Trade the Breakout above the Resistance when the Uptrend is confirmed.
by shepherdduane
1