GBPUSD Rise to 1.14500 and sell from 1.14500GBPUSD Rise to 1.14500 and sell from 1.14500
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Gbpusd_forecast
GBP/USD Multi-Timeframe analysisH1 CHART
Waiting for a retracement lower towards the 1.38945 support level, in order to reinstate LONG positions. Next important support is the 1.38761 level.
Support & Resistances
1.38945 1.39181
1.38761 1.39354
1.38388 1.39507
H4 CHART
A high probability, entry signal to go LONG was given at 1.38780 after the market found support at 1.38264 . Only the downward break of 1.38264 would cancel the bullish scenario.
Support & Resistances
1.38283 1.38650
1.37748 1.38761
1.35644 1.39507
DAILY CHART
Waiting for a retracement lower towards the 1.37027 support level, in order to reinstate LONG positions. Next important support is the 1.36234 level.
Support & Resistances
1.37027 1.39507
1.36234 1.41053
1.35378 1.45180
WEEKLY CHART
Waiting for a retracement lower towards the 1.34812 support level, in order to reinstate LONG positions. Next important support is the 1.30112 level.
Support & Resistances
1.34812 1.39573
1.30112 1.47642
1.26743 1.60794
GBPUSDThe long bull run for Cable is finally starting to loose steam. As you can see, the last higher high (HH) was formed around the 1.3950 handle (-27.00% Fibonacci Retracement). It has also broken broken out of the parallel channel by forming a bearish engulfing and closed below the 1.3875 zone. A confirmation of bearish reversal can be attained with a break of structure around the strong demand zone of the 1.3750 handle (38.20% Fibonacci Retracement ).
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GBPUSD / DOUBLE BOTTOM??Looks like we have had a double bottom on GBPUSD on the MONTHLY.. Price has broken resistance and i expect a retest of the neckline before continue to go to its next resistance level..
We can probably expect a big retracement from the next zone but we can take profits at that area if we choose too
GBPUSD bull trap probabilityI discussed about the probability of the GBPUSD to result into a sling shot which can also be referred to as a bull trap. I think its better of waiting for price to make a pull back before buy low the GBPUSD for more bullish anticipation.
What do you think GBPUSD traders?
GBPUSD Long FlipAfter previously posting a short trade and stating a break of 1.376 on the 4 hour would result in a change of bias we have now moved to long a long position. Adaptability in this industry is key. Our short losses have already been covered and everything onwards is profit.
Follow for more analysis.
GBPUSD, Fundamentally Driven Pair..!As salam alaikum
Critical Zone
1.375 seems to be M,W,D rejection point.
Still trapped in Rising Wedge on W,M TF.
We can see another Bearish Channel on D TF.
1.375 seems to be rejection zone as consolidation
can still be seen but the way F.A are playing,
We can expect strong bullish movement.
F.A Review:
Despite Dollar strength , GU is pretty much bullish as BOE has declared
Negative Interest Rate plus the
vaccination rate has also been increased.
Misleading and mixed 3-wave patterns In the 240-minute chart, the structure of all waves is in triple format, which indicates the end of the existed trend. Previously, there was the possibility, that the Diagonal pattern completing in the range of 1.3736, but with price retracement and the created uptrend, it is possible, this pattern at wave C from point iii forming a Diagonal pattern. According to this scenario, the uptrend can be extended up to the range of 1.3795, and in case, it just goes below the range of 1.3562, we can be hopeful for a downtrend formation.
GBPUSD, Breaking OUT...?As salam alaikum
Critical Zone
1.375 seems to be M,W,D rejection point.
Still trapped in Rising Wedge but on verge
of breaking out.
but another Falling Wedge can also be seen
on lower TF.
Monthly candle has closed and it's strong
"Hanging Man CandleStick".
Indicating a reversal.
GU will be Bullish once 1.36-7 zone breaks
above and holds for another week atleast.
Else we can see another strong dip aiming
Dollar Strength.