Gbpusd-trading
GBP/USD Bullish crab pattern 1HR crab pattern has been presented on 1HR chart.if support at "D" holds I have put 3 possible target areas.
Will be shooting for TP1 and is broken will move stop loss in profit and go for the stretch of TP2 or TP3.
Will be posting Ideas every week from now on, lets catch some pips!!!!
#GBPUSD D1 #LONG #BUYRisk Disclaimer: This post is not a trade signal.
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GBP/USD – Sell on riseThe erratic recovery from the low of 1.2642 does suggest the sellers have run out of steam, although the outlook remains bearish as long as the spot trades below 1.2815 (50-DMA). The RSI and MACD are bearish
Only a daily close above the 50-DMA would revive the bull market and open doors for a break above 1.30 levels
GBP/USD – 1.30 likely if it closes abv trend line hurdlePair’s rebound from last week’s low of 1.2769 if followed by a daily close back above the rising trend line hurdle would open doors for a revisit to 1.30 (zero figure) and 1.3048 (May 18 high).
On the downside, only a daily close below 1.2769 would revive the bearish move.
GBP/USD – Wait & Watch gamePound’s sharp recovery from the low of 1.2769 indicates the bears are still having a tough time despite the breach of the key rising trend line on Friday. On the higher side, we wait for a clear break above 1.2871, while on the downside we would want to see a daily close below 1.2775.
The 100-pip range of 1.2871-1.2775 is no man’s land.
GBP/USD - Another rejection at 1.30Yet again the spot has failed to hold above 1.30 handle and is now trading around 1.2950 levels. With the RSI pointing lower, the pair is likely to test 1.2870 levels over the next 24-48 hours.
On the higher side, only two consecutive daily close above 1.30 would revive the bullish view and open doors for 1.32-1.33 levels.
GBP/USD – pull back to 1.2870 looks likelyFailure to hold above 1.30 for last three straight sessions followed by a drop to 1.297 levels today in the wake of a golden cross (50-DMA & 200-DMA bullish crossover, often a lagging indicator/contrary indicator) coupled with the daily RSI turning lower from the overbought territory suggests a potential for a pull back to 1.2870 levels.
Only a daily close below 1.2870 would signal revive bearish view.
On the higher side, we look for two consecutive daily close above 1.30.
GBP/USD eyes 1.3080The bullish 50-DMA and 200-DMA crossover (golden cross) followed by a daily close above 1.30 for the first time since September 2016 suggests the spot is likely to to extend the gains 1.3080-1.31 levels.
The daily RSI isn't necessarily overbought here, which suggests enough room for a another 100-pip rally.
GBP/USD stuck at 127.2% Fib expansionGBP/USD is struggling to push through 1.3009 (127.2% Fib expansion). We have already seen a failure to hold above 1.30 yesterday.
A similar action today would open doors for a more pronounced sell-off to 1.2950 levels.
A daily close above 1.30 today would open up upside towards 1.3150-1.3180 region.
GBP/USD – bearish move is gathering steamThe bearish price RSI divergence, gravestone Doji followed by a breach of the small rising channel to the downside, coupled with the breach of the rising trend line on the RSI suggests the pair has topped out and could test the larger rising trend line support seen around 1.27 levels today.
On the higher side, today’s high of 1.29 is likely to offer strong resistance.
Only a daily close above 1.30 would revive the bullish view.
GBP/USD – bearish RSI divergenceThe bearish divergence suggests potential for a pull back to 1.2831 (May 4 low). Only a daily close below 1.2831 would signal a short-term top has been made and could yield a pull back to 1.2706 (Feb 2 high). The MACD has turned bearish as well.
On the higher side, a daily close above 1.30 would revive the bullish view.
GBP/USD is still in the hunt for 1.30Pair’s sharp recovery from the one-week low of 1.2830 following an upbeat UK service PMI and move back above the upward sloping 10-DMA suggests the odds of a move higher to 1.30 - 1.3009 (127.2% fib extension level) are still intact.
A daily close above 1.2871 today would add credence to the bullish view.
On the downside, only a daily close below the 10-DMA would signal bullish invalidation.
GBP/USD – 1.2775 is the new baseTwo consecutive weekly close above 1.2775 (Dec high) levels coupled with the bullish RSI suggests the dips to/below 1.2775 are likely to be short lived.
Nevertheless, upside looks capped around 1.30 … the weekly 50-MA is still sloping downwards, which suggests more time could be spent in the range of 1.2775-1.30 before further upside unfolds.