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Gbpusdbuy

The triangle has been broken to the upside on GBPUSDHey guys, just wanted to share my view on gbpusd; as you can see price has recently broken to the upside this simple pattern called triangle. It's basically made of two converging trendlines that encompass price action. You can take advantage of this pattern by simply buy at the first candle close above/below one of the trendlines, or you can wait for a retracement and then enter the market. The bigger retracement has already happened, but as of now price level is nice in order to have a positive risk to reward ratio at the retest of the daily resistance near 1,2550, so it's appealing to me. Entry at market, stops below 1,2400 even handle, target1 near 1,2550, target2 to be determined (approximately near the dark green line). Let's see. If you have any question, feel free to type it in below. Otherwise, see you in the next chart!
Long
by Roker1
GBPUSD @ 1h @ Trading Box (1.2505 & 1.2674 ) 50th week `16After the last selloff in October`16 we`re in an intact upside trend in GBPUSD right here right now ... The trendline runs netween 1.2450 & 1.2500 this week (50th week `16). Prices above confirms only the upside trend! Basic price action should be next 5 days in this trading box !? 1.2674 was monthly high last november`16 1.2505 was this month (december`16) low A BreakUp (of the trading box) could imply new December`16 monthly highs - even 1.2776 & higher. A BreakDown )of the trading box) will test the upside trend (even between 1.2450 & 1.2500) - lower prices could initiate price pressure to 1.2333 (October`16 high after selloff) & november`16 (1.2299) at least ... Take care & analyzed it again - it`s always your decission ... (for a bigger picture zoom the chart) Best regards Aaron
by Devise2Day
GBPUSD BUY AND SELL SETUPGBPUSD is currently showing some bullish potential however it is not completely out of the woods yet. There are setups on both the long and short side with this pair where I will be waiting for levels to be taken out to show a clearer trade either side. LONG: Market has just popped its head above a descending channel after rejecting the 61.8 fib of the upward move. if we close above this channel we are going to need a retest of the broken trend line and continuation above 1.2500 to enter long up to previous high at 1.26500 and up to and projected 1.27 extension at 1.28200 SHORT: For short trades we would need a 4 hour close below 1.23000 which will then see us down to the lows at 1.21500. In my opinion this will signal a move lower again for the pound beyond the flash crash lows.
by Joe_Keegan