GU in consolidation before giving directionSlow day yesterday. Now looking for price to give a direction for a bigger move and looking for test at key levels.
GBP
GBPUSD: Cycle peaked. Expect brutal bearish reversal.GBPUSD is neutral on its 1D technical outlook (RSI = 54.143, MACD = 0.08, ADX = 33.338) but still bullish on 1W (RSI = 64.701). After rising nonstop since April and basically not having a long term correction since October 2023, we expect this bullish cycle of GBPUSD to be coming to an end. The Sine Waves structure is further proof of that, as it is past its top where in June 2021 and April 2018 it peaked. We turn long term bearish on this pair, aiming for the S1 level (TP = 1.2100).
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GBPNZD Strong buy signal at the bottom of the Channel Up.The GBPNZD pair has been trading within an 11-month Channel Up and since its break below the 1D MA50 (blue trend-line) on August 28, it has been forming the new bottom. Monday saw it approaching the Higher Lows trend-line and with the 1D MA200 (orange trend-line) just below it as a Support, we believe that we've seen the new Low.
In fact, as the 1D RSI made a Double Bottom, it resembles the Channel's last bottom formation on June 06. The final confirmation of the bullish break-out will be when a 1D candle closes above the 1D MA50. We expect at least a +4.45% rise, thus targeting 2.19000 on the medium-term.
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GBPJPY H1 - Short SignalGBPJPY H1
This play was huge yesterday, a monster 332 points in total we saw GBPJPY sell off, immediately from the EUR/LON bell too. Those first hourly candles sold off as much as 160 points, offering around 2 to 2.5R in very quick succession. This was really enjoyable to see unfold. No doubt ***GBP pairs as mentioned have be wild to trade recently, especially with the trading antics we saw on Friday, with the 600 point swing.
Lets see what else is offered today, sitting on the side-lines until things start to shake up for us and offer the next entry points.
Sell GBP/USD Triangle BreakoutThe GBP/USD pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the downside in the coming hours.
Possible Short Trade:
Entry: Consider Entering A Short Position Below the Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 1.3382
Target Levels:
1st Support – 1.3312
2nd Support – 1.3265
Stop-Loss: To manage risk, place a stop-loss order above 1.3440. This helps limit potential losses if the price falls back unexpectedly.
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GU showing signs of bearishness but we must wait for entryHave to wait for price to confirm what it wants to do. Price has moved to test some key levels but now showing if it wants to continue just yet. we will sit on hands and wait for London session to get more supporting evidence.
GBP CHFTHIS IS MY SETUP FOR GBP CHF
I use Fibonacci to get these extreme points and my preferred one is 75% retracement, with a risk-reward of 1:3.
Trade carefully
This is not financial advice, DYOR.
Going Long On GBPUSDGoing long on GBP/USD
Entry: 1.3386
Targets: 1.3546 & 1.3702
Stop: 1.3244
Risk To Reward: 1:2
It's a risky trade because trend seems to be a bit overstretched without deep corrections but regardless we'll take this one & we'll follow the 1:2 R.R
GBP NZDTHIS IS MY SETUP FOR GBP NZD
I use Fibonacci to get these extreme points and my preferred one is 75% retracement, with a risk-reward of 1:3.
Trade carefully
This is not financial advice, DYOR.
GBPCHF Potential UpsidesHey Traders, in today's trading session we are monitoring we are monitoring GBPCHF for a buying opportunity around 1.11900 zone, GBPCHF is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.11900 support and resistance area.
Trade safe, Joe.
GBPJPYGBPJPY . Potential long opportunity.
We believe that GBPJPY will continue to the upside after coming down to our PBA (Pull Back Area). Our entry is sitting at the pullback area at 190.402 . We are looking for breaks of 193.289 and 195.862 which would confirm our target 197.500 where our TP is sitting at. Our SL is sitting at 188.127 and if broken, it would result in deeper pullbacks which would not be out of the ordinary based on a weekly timeframe.
PARAMETERS
- Entry: 190.402
- SL: 188.127
- TP: 197.500
KEY NOTES
- GBPJPY has fallen to our PBA.
- Break above 193.289 and 195.862 would confirm higher highs.
- Break below our SL would result in deeper pullbacks.
Happy trading!
FxPocket
Bearish drop?GBP/JPY is rising towards the resistance level which is a pullback resistance that is slightly below the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 193.36
Why we like it:
There is a pullback resistance level that is slightly below the 61.8% Fibonacci retracement.
Stop loss: 195.91
Why we like it:
There is a pullback resistance level.
Take profit: 190.36
Why we like it:
There is an overlap support level.
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GBPJPY H8 - Short SignalGBPJPY H8
We have a nice setup here yet again, with our crosshairs on that 193 handle for GBPJPY. Last weeks price movement on Friday was wild, to say the least, over the eastern session we took off 100's of points, before closing the day down towards 190 price. 600 points from top to bottom we saw, from the likes of ***JPY, this was very impressive!
With the exception of the fakeout to the upside, albeit it headline driven, we have now seen a subsequent correction, which takes us back towards that 193.000 handle, a confluence zone and an area we could look to sell.
Stops would be around 50 points at 193.500 covering recent highs, and take profit targets would be every 100 points.
GBP/JPY Weekly PrognosisToday and Tuesdays move will be higher to fill the imbalance above then we will see capitulation to the downside resulting in a bearish week and the early week move up being a top week for the weekly candle.
Overlap support ahead?GBP/JPY is falling towards the support level which is an overlap support that is slightly above the 61.8% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 189.02
Why we like it:
There is an overlap support level which is slightly above the 61.8% Fibonacci retracement.
Stop loss: 186.62
Why we like it:
There is an overlap support level that lines up with the 78.6% Fibonacci retracement.
Take profit: 193.29
Why we like it:
There is a pullback resistance level.
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Could price bounce from here?GBP/AUD is falling towards the pivot and could bounce to the 1st resistance level which a pullback resistance.
Pivot: 1.9273
1st Support: 1.9214
1st Resistance: 1.9424
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Bearish reversal?GBP/CHF is rising towards the pivot which acts as a pullback resistance and could reverse to the 1st support which has been identified as a pullback support.
Pivot: 1.12955
1st Support: 1.12275
1st Resistance: 1.13697
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
EN bias to short,likewise for GNHello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
Both eurnzd and gbpnzd should be seeing more downside, had shorted since last week..this week shall continue unless something else happened :)
Do check out my recorded video (in trading ideas) for the week to have more explanation in place.
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GBPUSD - Long Trade IdeaNo current refined POI for entry, but I am fairly confident on the current target. Stoploss below the current swing low.
It is pretty straight forward. Price is following OBs and BISIs, and is on course to take out the immediate swing high. The target is a NWOG area, similar to what we saw on EURUSD in the past when it made its most recent high.
- R2F
GBPJPY: Inverse Head and Shoulders calls the bottom.GBPJPY got oversold on its 1D technical outlook (RSI = 28.124, MACD = -0.770, ADX = 29.222) as it was rejected today on the 1D MA50. On Sep 16th it touched the bottom of the long term Channel Up and rebounded, while the 1D RSI has been on a bullish divergence. We expect this bottom to be in the form of an Inverse Head and Shoulders. We are aiming for the 1D MA200 and the 0.5 Fibonacci level (TP = 150.500).
See how our prior idea has worked out:
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GBPAUD Sell signal short-term.The GBPAUD pair is trading within a Channel Up since the start of the year, currently expanding its 2nd Bearish Leg of the pattern. The 1st pulled back marginally below the 0.618, before starting the new Bullish Leg.
We are expecting the same level to be targeted at 1.92600.
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Potential bullish bounce?GBP/JPY is falling towards the support level which is a pullback support and could bounce from this level to our take profit.
Entry: 193.28
Why we like it:
There is a pullback support level.
Stop loss: 190.41
Why we like it:
There is an overlap support level that lines up with the 38.2% Fibonacci retracement.
Take profit: 199.15
Why we like it:
There is a pullback resistance level that aligns with the 161.80% Fibonacci extension.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
