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Gbpusd_forecast

The completion of a Diagonal pattern in the range of 1.3746The last uptrend has ended in the 1.3746 range and the price has started a downtrend, the convergence in the RSI is obvious, by crossing the price from the range of 1.3446 we can get the main confirmation for the decline up to the range of 1.3132. Needless to say, we must note that according to the descending scenario, in the weekly time frame the price reduction is very long term. The range of 1.3850 is very critical; this analysis will be violated by crossing the price from this range
Short
by NirmataFX
GBPUSD Break and retest was expected around .618 FibonacciGBPUSD ********* ⏳1 Hour chart 🎲 Possible entry analysis ⛳️ Possible bull/bear target 📚Educational —————-❇️——————- Detailed analysis 💬 1️⃣ Negative USD-Positive brexit talks will boost this pair upwards 2️⃣ GBPUSD Has break the downward channel 3️⃣ 1.37000 acting as strong resistance level 4️⃣ 1.37000 Major upper side resistance Key reversal area 5️⃣ 1.36100 acting as key support .618 Fibonacci 6️⃣ 02 nd Sub micro Elliot wave is formed 7️⃣ Technical support - Bull 8️⃣1.37700 will acted as key reversal-bearish 9️⃣ Series of HH HL HH HL patterns 🔟 Possible swing target-1.37700 (1.217 Fibonacci) #️⃣ Overall bullish trend (Brexit optimism) —————-❇️——————- 📉 Technical bias-H4-Bullish Price is above 50,100,200 Exponential moving average 50 Exponential moving average will act as support-Bull Ichimoku cloud -cloud is still green-Cloud support(Bull) Bollinger band- Price reached around lower band and short term pullback was expected Relative strength index - Reached around 40-Medium term bearish correction was expected MACD -Turned red and fell below the signal line ,oscillators about to cross soon Stochastic - Reached around 40- Oscillators are pointing upward —————-✳️——————- Key reversal area's 1.36000 psychological level 1.37000 January high 1.37500 Key reversal area/psychological level 1.360950 61.8% Fibonacci retracement level 1.35770 50% Fibonacci retracement level 1.35400 series of support level 1.35400 Price action level/Possible entry- Bull 1.37700 1.217 Fibonacci/Alternative bearish entry —————-✳️——————- Bullish entry #pound #gbpusd Entry price - 1.36100 Take profit 01 - 1.37000 Take profit 02 - 1.37700 🚫 Stop lose 1.35830 ⬆️ 1.19% Growth expected ⤴️ Account growth 0.19: 1.19 ✅ Risk reward ratio 1 : 6.2 —————-⚜️——————- Push the like button , And cheer up if you found useful
Long
by forexorbit
1
GbpUsd- Can it go to 1.6 in 2021? (long term view)When it comes to Gbp, one thing was clear, it was very hard to trade on short term. If we try to see the forest from the trees though, things will become more clear. The pair was in a multi-year downtrend from 2007 and once we have the Brexit announcement, GbpUsd broke under 1.4 important support. With the normal ups and downs, the pair continued its drop and also had a short-lived spike under 1.2 new-found support. Since this spike, GbpUsd has traded in an uptrend and, what is very important in my view, has broken above the long term wedge resistance. This is a clear sign of trend change and I believe we are heading up and above 1.5, and even 1.6 as a target. At this point, the cable is just under a very important resistance zone, and from here we can have a corrective drop. This should offer a great opportunity for long term traders to build in trades with, as I said, 1.5 as a soft target.
Long
by Mihai_Iacob
1