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Gbpusdidea

GBPUSD Short Selling Hello Traders and welcome to Illyrian Finance, regarding the pound and in particular the FX:GBPUSD cross on monthly timeframe we have a strong rejection from a candle closing in 2 days probably in inverted hammer signaling a downtrend. Levels to watch for possible buying are 1.165-1.175 where the pound can bounce creating an inverted head and shoulders that could push prices towards 1.26 and 1.30. It would be best to trade based on a move already created but for the more experienced consider a short from here with take profit in the 1.175-1.165 area could be a good opportunity. Thank you all for the support! Visit our website for mentorship and other services.
Short
by IllyrianTrader
4
GbpUsd- Sell rallies for 1:3 R:RSince the end of September's low at 1.03, GbpUsd has risen 2k pips which translates into a 20% growth (a huge rise for a major pair in such a short time). Also, from both technical and fundamental points of view, the long-term trend favors the USD and this rise is most probably a correction. Strictly technical, the 1.23 zone is strong resistance, and although the pair spiked above this zone (something to be expected from GBP), this rise was quickly reversed leaving an immense bearish engulfing on our daily chart (Thursday's candle engulfing 4 previous daily candles) and suggesting a false break. As long as 1.25 is intact on a daily close base, I favor a drop to 1.1750 support and sell rallies in search of good R: R could be a good strategy.
Short
by Mihai_Iacob
6
Impulsive GBPUSDWith all the huge events that took place, GBPUSD threw a bit of a tantrum, the market was quite volatile and overflowing. CPI provided a huge candlestick to give us the higher high then slightly dropped and made a retest to the higher high to give us a double top. FOMC happened and abruptly made this huge fall that formed a long wick. The market started to give us this nice long drop, now we’re at demand zones and USD is sharply gaining, if price doesn’t respect this zone then we are sure to go aggressively upward after triggering 1.21187 demand zone…
by tokelohomi
BEAR MAY TAKE CONTROL FOR WHILE ON GBPUSD (11 DEC 2022)Educational Analysis says GBPUSD may go SHORT. According to my technical. This is not an entry signal. I have no concerns with your profit and loss from this analysis. Why SHORT? On the 1HR timeframe, the pair is about to reach on supply zone. After that, it may go down to 1.19212. I HAVE NO CONCERNS WITH YOUR PROFIT OR LOSS HOW TO TAKE ENTRY ON THIS? I would suggest that if the price reaches the supply zone, I would put a sell limit order with a 46.7 risk-reward ratio. As the price would move down I would post a comment on new trade entries with a good risk-reward ratio. SELL LIMIT ENTRY:- 1.23366 STOP LOSS:- 1.23455 TAKE PROFIT:- 1.19212 RISK-REWARD RATIO IS 46.7.
Short
by VishalBudhrani
3