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Gbpusdbullish

GBPUSD buying opportunity | 29 Nov 2022-On the D1 timeframe, we can see that GBPUSD has been ascending on a bullish trend since late September. Price is approaching the 1.22900 resistance zone that was tested multiple times before, although it still has some way to go. -On the H4 timeframe, price came to test the resistance turned support zone at 1.18000, where a breakthrough led its ascent to the next resistance zone at 1.19500. Prices ranged between the two zones until 23 November when statements from the FOMC confirmed the Fed’s intention for softer rate hikes, while the UK released PMI data that hinted at an economic recovery. This provided the fundamental acceleration for GBPUSD to exceed the 1.19500 resistance zone which prices eventually came back down to test as the new support zone, where we forecast a bounce to the next resistance zone at 1.22900. -Stochastic RSI has dipped into the oversold region, while the MACD has crossed over the signal line from below with a significant gap at current prices. Both technicals are displaying strong bullish signals, confirming our bullish bias. -However, on the M30 timeframe for GBPUSD, we expect prices to come back and test the 1.19500 support zone first in the near term before playing the bounce to the next resistance zone. This is supported by the Stochastic RSI entering and exiting the overbought region which indicates a short run bearish bias
Long
by T3-Consultancy
GBPUSD buying opportunity | 18 Nov 2022The rapid price increase last Thursday following weaker than expected US inflation data began to hesitate as it approached the psychological barrier at 1.18000, which coincides with the 61.8% Fibonacci level. However, hot CPI and average earnings data released on Tuesday which together indicate tightening inflationary pressure in the UK economy finally gave prices the boost needed to break above the resistance turned support level. Prices came back to test the 1.18000 support level again on Thursday following the UK government’s announcement of austerity measures to control inflation, but failed to break through after a £26 billion support package was announced later in the day. Given the weakening Dollar and overheating UK economy, we forecast an extension of the bullish trend where prices will bounce to the next resistance zone at 1.22800, coinciding with the 78.6% Fibonacci extension level. Prices are lying above the Ichimoku cloud as well, supporting our bullish bias.
Long
by T3-Consultancy
1
GBPUSD - One more leg higher? GBP/$ has provided lots of trading opportunities over the last few weeks with it's very large range bound moves. Over the last week, sterling made another strong and undisrupted move back into 1.37. This ended in the 'double-top' structure formation which consequently ended on Friday in a plunge (-0.79%) drop back into the highs of 1.35. Entering this week, i am simply looking at more bullish price action from sterling. Areas to watch for support are the red lines indicated on the graph. If the 61.8% retracement from previous highs can hold, that may act as the start of the trend continuation. 1.36157 will become a KEY area to watch as if price pulls back into these levels it will be clear if we are simply getting a pullback for price to continue the downtrend. I believe Friday's decline has provided a great opportunity to get LONG on cable and ride another wave back into the 1.37/38 levels and i will be keeping you all updated on this pair. My fav pair :) Good luck trading $
Long
by Ikeokeke25