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Gbpusdbullish

GBPUSD - Potential Buy setup using convergence at 1.3200 Taking a look at the price action on GBPUSD we can see a potential level of support set up for a possible move higher at around the 1.3200 big figure. As you can see from the 1 Hour chart, we have a possible convergence of factors that could increase the probability for a move higher. The 1.3200 level being a big figure level in general is psychological level but what can help strengthen this point is the liquidity gap that was created by price spiking higher on the 28th August (marked with a pink arrow). These 2 factors alone could have additional order flow resting at this level which could cause a reaction in price higher. Lastly, we can also see a descending diagonal trend line that could also meet at the same point if price starts to sell off currently, again increasing the probability of the level to react. If price gets to this level and goes straight through it then no action is needed and the trade is void, but if we can see a bounce occur here we will go down to our lower time frames and see if we can find any additional signals like a bullish price pattern or structure that could help in fine tuning a possible execution point. We will update this accordingly.
Long
by DavidVillagra
GBPUSD: Bullish Trade Idea to target 1.2850 GBPUSD bullish scenario is supported by the following factors: 1. It's moving perfectly in the ascending channel. 2. Hidden bullish divergence formed on MACD for the continuation upwards. 3. Break out of the most recent falling trend line within the bullish channel. 4. The next target of 1.2850 is derived from the confluence of Fibo Extn's on the prior impulsive moves. Enter your trades once the lower timeframes get aligned with the daily setup. GOOD LUCK FOR YOUR TRADES !!! PLEASE SHOW YOUR SUPPORT IF YOU LIKED THE IDEA
Long
by moneytize
Bulls Eager on GBPUSDWith the current uncertainties keeping GBP pairs consolidated, echoing across correlating Pairs to the Pound, new fundamentals seem like the master key in getting volatility back for FX Traders. Looking over the Pound, one cannot deny that Sterling is at its most cheapest level in years. Forget price and think of value - suggests traders at HuracanFX. Fundamentally : Its a developing high impact news nightmare keeping swing traders on their and somewhat pensive about the next move- and it is likely to develop into a large move at it. Technically : Main 1.30 psychological resistance has been a tough nut to break, as price had shown potential at the first touch but quickly retreating into bearish territory. Note the retest of 1.29 as this resistance can play a vital role of new support for the Pound. USD Weakness coming in to support this move up; however it seems that the pair is looking for more information or a decisive USD move to break from the consolidation pattern. If the main level of 1.30 is broken targets of 1.32 is first up, thus following price up slow and steadily ,creeping its way up to 1.42 with little to no price action in its way to 1.42 from 1.40. Again, looking over to the bigger picture here , the Pound is cheap, overall a bullish momentum as a strong institutional leg from 1.215 Zone. I.e - Why would you be bearish ?
Long
by HuracanFX
GBPUSD Setting up for a big bounce...We have lots of factors going on here, after a rally in one direction (down) especially a sharp one like we've seen this week we would expect a return rally... Confluence of support and weekly trend line makes this a great area for a trade, we have divergence on the RSI and increased volume through the ATR... I've taken one risky trade as it gave me a 10:1 which I'm happy to take after a good week, I've also takena more conservative trade set up as a stop order buy... You may want to wait for a green candle confirmation with an open and close above, bullish pinbar or engulfing pattern to occur and there's potential for a double bottom here too... I'm only interested in buy trades, would only look for a sell if we break and close below support and trend line then come back up to retest support turned resistance... Side note, if we see a false break here then close back above support this trade will absolutely FLY!
Long
by chris_ford