Gbpusd1hr
BluetonaFX - GBPUSD Double Bottom Opportunity Hi Traders!
There is a potential double bottom pattern forming here on the GBPUSD 1H chart.
GBPUSD has had bearish momentum over the past 24 hours, and that momentum looks to have slowed down. A possible reason for this is that the market is near the 1.26909 support level, which we have highlighted on the chart. For the double bottom to form, this level must hold.
There was a big price rejection yesterday at 1.28436, which we have highlighted on the chart. From looking at the price action, there was a lot of volatility during that moment, so the traders may want to test that area again.
If the 1.26909 support level does not hold and there is a break below the level, the double bottom will fail, and we will look for further opportunities on the downside.
This is a good risk-reward trade, as there is a lot of upside potential if entry is near the 1.26909 area.
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Thank you for your support.
BluetonaFX
Long GBPUSD, target 1.240
GBPUSD is currently testing support around 1.231, once the support is confirmed to be valid, it will rise to around 1.240.
So today we will focus on the support around 1.231. When the support is confirmed to be valid, we can go long, and the target is around 1.240-1.244.
I released the trading strategies of EURUSD and GBPUSD today, and I will continue to publish gold, BTC, etc. later. If you are trading them, you can follow me, if you have any questions, you can tell me, and I will help you answer them.
GBPUSD SELLWelcome . The pound sterling against the dollar. in a very negative state. With the price reaching the strong resistance 1.2100, with a retest of the area. It also formed a very negative candle on the daily chart. with a downward trend. And break the bullish flag. There is a lot of pressure from the sellers to bring the market down. to 1.18,000 levels in the first stage. And the level of 1.16000 is good luck. Note: If you like this analysis, please give your opinion on it. in the comments. I will be happy to share ideas. Like and click to get free content. Thank you
GBPUSD Short: Hanging Man on 1hr Timeframe Trend: Bearish trend followed by LL and LH.
Support/Resistance: Blue lines are S/R levels on 1D while red lines are on 4h timeframe.
The reason behind the Short: A hanging man was spotted near the 4hr resistance at the LH of the chart. It indicates the potential downfall of the price towards the lowered support area.
SL: It is placed on the previous LH of the chart.
TP1: Placed near the support.
TP2: Placed just a little below the support area.
GBPUSD Looking At A BuyGBPUSD looking at a buy on this based upon a smart money set up although you will see i risking the sl by not placing this on the the lower swing point but im looking at the .786 to more or less hold due to formation inside the box area.
These are not trade ideas for you to take but to help identify structure and let you see haow these play out we then look back to understand the movement of the price action
What are your thoughts.........?