I believe GBPNOK may retrace to 12.86 once more after getting close to important 2020 support/now resistance.
Looking upwards, GBPNOK may start a downtrend to test the 12.80 area again. Weekend ahead, spread and overnight gap might be dungerous here
GBP/NOK possibly going long following previous trend up and down
This pair ran up above Monthly Resistance. I cant show everything in my mobile chart but this is at a sell area. Please wait for a sell signal before pushing the sell button. A good trend indicator will give you a good sell signal on the time frame you like to enter on. This is a long term signal for me
Wait for a close above 11.6900 in considering a long position. Candlestick must close above 11.6900 in order to consider a long position. Market conditions currently look good for a potential move upwards. Higher low formed at time mark 19:00 on 1H Time Frame.
First Target is 11.69 (R2). 11.59400 = R1 Trend Line Coordinate is (22-September-14 00.00, 11.60100)
Insight ------------- - Rising Oil - Weak GBP - Q4 Recession projection for UK
GBPNOK LONG SETUP -------------------------- - Oil drop due to slow down/recession in China - Better than expected U.K earning - Above TC red line and VWAP - About to break the diagonal Resistance - Cup & Handle formation
GBPNOK $GBPNOK Initial Short. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
GBPNOK LONG - Buy Entry - D1 Chart Buy @ Market Symbol: GBPNOK Timeframe: D1 Type: BUY Entry Price: Buy @ Market Resistance @ 12.41680 Resistance @ 11.97872 Pivot Point Yearly @ 11.89933 Resistance @ 11.83269 Resistance @ 11.66966 Support @ 11.30668 Support @ 11.21511 ✅ If you liked this analysis, please consider Following and giving it a Thumbs Up...
Price closed below 11.81233. Take Profit at 11.63134. (GBPNOK)
GBPNOK price closed above 12.14499. Price retested 12.14499 level. Take Profit at 12.41918.
Hello everyone, if you like the idea, do not forget to support with a LIKE and FOLLOW for more creation of free analysis. \m/ Looking at Monthly we're about to have a cut for short on the EMAs, though we still have a bullish due to MACD above 0. Also looking at Weekly we have an ICI, we already have the impulse and the retracement up to the 0.50 of the fibonacci...
GBPNOK at fib 61 touching the Ascending Trendline after breaking previous desending trend line
Waiting GBPNOK To break out of the ascending triangle