Get started

Gbpshort

GBPUSD - Bearish rotation?A series of lower highs, inside a big triangle / wedge (see daily or even weekly timeframe) we could see a bearish rotation down to the bottom of the wedge. Coming from a historically strong and significant resistance area (1.2555) I see a potential bearish ride down to 1.2300 and possibly further. While venturing down I'm looking to lock profit after passing 1.2400. Anything can happen. Feel free to comment your thoughts. GBP has been interesting the past few months to say the least.
Short
by timmynorin
1
GBPUSD - After our breather, comes the next dive.We have hit a historically strong and stubborn support & resistance zone, a psychological round number 1.2400, a 0.618 fibonacci retracement of X-A, and our momentum has been weakening - and even broke to the downside. Now its time to jump on the bear train again! Or at least I am. Targets are marked on the cart, with a potential zone which we may very likely hit within the next 30 days. Entered: 1.2392 Elevator, bring us down please.
Short
by timmynorin
2
GBPUSD - Short setupWill the bouncing continue? We see a clearly defined, triangle-narrowing movement on this pair as we're respecting both structure and trendlines more and more lately. We're heading into a triangle, and price-action seems pretty determined. IF it continues we could pick up some profit on the way. It might aswell be a trap, with a break to the upside. I chose to enter, because of above, and we also see a double top, respecting the trendline, and we ALMOST see a 2618 in the 15 minute chart (bearish candle did not close below the lowest low of the V point between the double top) I did however initially base this setup on the hourly. Risk to reward is good enough for me. No matter the outcome, it will be interesting to follow - will this pair stay determined on its bouncy narrowing route?
by timmynorin
3
CABLE SHORT TO 1.30: Fundamental and TechnicalGBPUSD is trading above 1.33 today, despite the broad risk-off sentiment which has seen JPY up on the day. Fundamentally: Fed members are hawkish, and at least 1 rate hike is on the table this year. September is a close call - and if we believe the hawkish rhetoric of the FOMC recently - the market is underpricing a rate hike in September. This is bullish for USD. The UK has seen a slew of good data, however the risks of Brexit remain, as well as the uncertainty about the process itself. Furthermore, it is likely that BoE cut rates in November to protect the economy from such risks, in the event they do arise. QE is still ongoing, however GBPUSD trades above pre-QE levels. This may mean Sterling is overvalued in the near term. Technically: there is strong resistance at 1.345 / 1.35. The hourly chart shows strong divergence above 1.34. There is much risk to the downside - 500 pips till the post-Brexit low of 1.28. CFTC data: a few weeks ago, GBP shorts were at record highs. Since then, shorts have reduced. This suggests there is potential for shorts to start building positions again, and that the GBP short squeeze came to an end when Cable was abruptly rejected from 1.345. Many major banks forecast Cable below 1.30 by the end of the year. I agree with this, and am short from 1.33 until 1.30, after which I will re-enter short on pullbacks or on a clear break of 1.30.
Short
by Exercise-Discipline
Long on EUR/GBP BUY BUY BUY !!!Reasons for - We are clearly up trending - We are putting in higher highs and lower highs - We are getting nice swing highs and structure - Previous 4 hour candle was a bullish hammer (Bullish candle) - We have nice long wicks to the downside which signals more buying power - We are above key level of 0.75000 Daily - We put in a huge Bullish engulfing last week Friday - Today we are forming a bullish hammer of the Daily candle - We are riding the trend which is bullish - Remember the trend is you're friend weekly - We have had 8 bullish weeks in a row the momentum is to the upside which is clear to see - on the weekly we cleared major level off 0.75000
Long
by ARFXC