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Gbp-usd-short

GBPUSD Short-term Technical OutlookThese technical outlooks are NOT trade ideas, they are simply technical analysis to give traders a DIRECTIONAL BIAS on the day. Good evening traders. Despite the rally off spike lows at 1.2039, pressure remains to the downside below the week's high at 1.2278. Only a break above the latter will put pressure on the upside and eye highs at 1.2432. At this point shorting opportunities are still preferred until proven 1.2278 is taken out. Enjoy!
Short
by UnknownUnicorn261897
2
GBPUSD Short-term Technical OutlookYesterday's short-term technical outlook: Price did not quite get up to the 1.2313 resistance figure, however it did hold its downside bias as expected. Exposing new lows intraday price confirms this pair is still in a downtrend and that sellers are in control. Now look to see price remain below 1.2305 to keep sellers in control. Look to see price remain below resistance trend line for continued selling intraday. A push up into resistance will likely be matched by swift selling and another downside push is likely. Next downside target is the 1.2141 institutional support figure. I hope this offers some directional clarity on this pair! Enjoy!
Short
by UnknownUnicorn261897
GBPUSD Short-term Technical OutlookYesterday's short-term technical outlook: Price was unable to break below the 1.223 institutional support figure and as a result we saw a double bottom turn into further upside. In addition the resistance trend line was broken and the backside held as support. The 1.2313 figure is decent resistance that we are expecting to keep the upside in check. A swift push into the figure may be met by pending short orders knocking price down. Below the figure will likely see further downside. Only a break above the 1.2313 figure will signal a deeper pullback in this downtrend. I hope this gives a directional bias on this pair! Enjoy!
Short
by UnknownUnicorn261897
GBPUSD Short-term Technical OutlookPrevious short-term technical outlook: Friday's swing low at 1.223 was quickly bought up to close the day positive, however risk remains to the downside. The resistance trend line does still remains intact and as such we can expect to see further downside. First institutional resistance above is at 1.2313 which previously acted as decently strong support. Below the figure should keep sellers in control and it will be preferred to sell upticks and up-moves. We can expect to see any up-move into the figure to be quickly faded with potential pending short orders near the figure. It would take a break above the figure to signal a pullback and further upside on this pair. A break below short-term support at 1.223 is required to open the downside. I hope this offers some directional clarity on this pair. Enjoy.
Short
by UnknownUnicorn261897
GBPUSD Short-term Technical OutlookYesterday's short-term technical outlook: In yesterday's short-term technical outlook, I discussed that it was likely to see a short squeeze break out of the ascending channel pattern that was showing on the chart. Consolidating so close to the 1.23 major support figure suggested that a surge in momentum would likely break the figure opening the downside. That is exactly what happened. It can now be clearly seen that the 1.23 major support figure acted as resistance as price decided to pull back to the backside of the figure. With consistent lower lows and lower highs, the directional bias on this pair is to the downside. Selling upticks and pullbacks will be preferred until proven otherwise. Next downside target at key support at 1.2206. I hope this gives you traders clarity on this pair. Enjoy!
Short
by UnknownUnicorn261897
3
GBPUSD Institutional Short SetupHello traders. In response to the GBPUSD Short Setup below.... That trade wound up being good for about 30 pips so far... but judging price action we are expecting some continued upside. We are now looking to the 1.2568 figure for a potential shorting opportunity. Our institutional research suggests that sellers may try to protect the downside at that level. As always you will want to use a 30-40 pip stop and look to take whatever you can on the profit side.
Short
by UnknownUnicorn261897