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Gbpusdsignals

GBPUSD | PERSPECTIVE FOR THE NEW WEEKPrice moved 130pips in our direction before rejecting our previous key level ($1.28700) followed by an engulfing Bullish run in the later part of the week to negate previous bias (see link below for detailed reference purposes). Following the EU Summit on Thursday and Friday (a critical moment to reach a Brexit deal ), the Pound turned around during the week to show signs of strength as both Brexit talks and the US fiscal stimulus situation incited a dominating trend for the Cable, with high tendency of pushing the pair higher in the following week(s) as selloffs continue for the Greenback. Tendency: Uptrend (Bullish) Structure: Reversal pattern (Inverse Head and Shoulder)| Breakout expectations Observation: i. Since the fall of price action from the beginning of the month, price found a reversal structure with bullish momentum accumulating to fulfill neckline Breakout. ii. Key level @ $1.30000 remains a major Resistance with a strong indication that it will be broken and retested to make a new Support in the coming week. iii. Our Inverse H & S structure points at a completion of a full trend reversal pattern with engulfing candle Breaking out of Neckline in the latter part of last week. iv. Looking forward to Neckline Breakout and Retest. Trading plan: BUY confirmation with a minimum potential profit of 500 pips. Risk/Reward: 1:3 Potential Duration: 5 to 12 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
GBPUSD | PERSPECTIVE FOR THE NEW WEEKWith over 250pips in our direction since my last publication on this pair (see link below for reference purposes); Price experienced a Correction phase to climb back to our previous Key level @ $1.3000. Since the termination of the Impulse leg that began this month, the price has been moving sideways between $1.27000 and $1.30000. The optimism on Brexit coupled with pessimism on fiscal talks appears to be the major factor that will move/drive the GBP/USD in the following week(s). Volatility is looming on this one! Tendency: Downtrend ( Bearish ) Structure: Breakdown | Channel | Supply & Demand Observation: i. Price has been on a downward spiral since the beginning of the month (October 2020) to find a Flat channel between $1.27000 and $1.30000. ii. Price is currently at an area that has a memory of Selling action as it hovers around the Supply zone. iii. My bias is looking forward to a Breakdown of this Channel in the future but before then I shall target the Demand zone for the first phase of profits. iv. However, a significant Breakout of $1.30500 shall render this setup invalid for the meantime. Trading plan: SELL confirmation with a minimum potential profit of 220 pips. Risk/Reward: 1:4 Potential Duration: 1 to 5 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
2
GBPUSD | PERSPECTIVE FOR THE NEW WEEKWith over 350pips in our direction since my last publication (see link below for reference purposes), we continue to experience tendencies for a decline in the coming week(s) as UK Prime Minister Boris Johnson agreed to compromise on the controversial Brexit bill. Tendency: Downtrend ( Bearish ) Structure: Trendline | Breakdown | Support & Resistance Observation: i. The last couple of weeks saw price break down major levels @ 1.31500 and 1.30000 followed by a retest of my key level last week. ii. I shall be looking forward to touching /Breakdown of Bullish Trendline (Day chart). Trading plan: SELL confirmation with a minimum potential profit of 450 pips. Risk/Reward: 1:3 Potential Duration: 4 to 8 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
3
GBPUSD | PERSPECTIVE FOR THE WEEKWith over 100pips against us since my last publication (see link below for reference purposes); The increasing risk of a No-Deal Brexit is beginning to reflect in market structure as momentum remains to the downside which is also aligning with my last week expectations. Breakdown of my Key level @ 1.33000 on Friday with an Engulfing Bearish candle sets the Pound for its first weekly loss in a month with a risk of further decline in the coming week(s) as I look forward to a retest of this zone. Tendency: Downtrend ( Bearish ) Structure: Trendline | Breakdown | Support & Resistance Observation: i. From a holistic perspective, the GBPUSD is sitting on an uptrend prevailing structure considering Bullish Trendline on our Daily chart. ii. Since the price hit peak @ 1.35000 (a psychological level respected since Nov. 2017), we have experienced a downward spiral since the beginning of the month (Sept. 2020). iii. Breakdown of my Key level coupled with a breakdown of the Temporary trendline (1.32000) is a confluence that could signal a decline in the coming week(s). Trading plan: SELL confirmation with a minimum potential profit of 600 pips. Risk/Reward: 1:6 Potential Duration: 4 to 10days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
GBPUSD | MY PERSPECTIVE FOR THE WEEKWith over 500pips in our direction since my last publication (see link below for reference purposes) on this pair, we continue to trade back and forth in a range which appears to be forming a Reversal structure. Tendency: Downtrend ( Bearish ) Structure: Wedge | Supply & Demand | Reversal pattern Observation: i. The appearance of a rising wedge after price hits peak @ 1.31500 at this juncture in the market is suggesting a possible reversal in the nearest future. ii. Wedge Breakdown in the following week(s) is a signal to look out for entry options. iii. It is worthy to note here that, my Demand zone is an area to be aware of this week for any Engulfing Bullish candle that might suggest an uptrend continuation. Trading plan: SELL confirmation with a minimum potential profit of 250 pips. Risk/Reward: 1:3 Potential Duration: 2 to 6 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
GBPUSD | WEEKLY PERSPECTIVEThe British pound initially tried to rally during the week but gave back the gains to fall into support again as it continues to witness a phase of correction. It is also worthy to note that I still anticipate Bullish tendencies in the following week(s) if the price does not break below 1.25000 level. Tendency: Uptrend ( Bullish ) Structure: Trendline | Supply & Demand Observation: i. The Demand zone has been respected in the last couple of weeks with an insight into the Buying power at this juncture in the market. ii. I shall anticipate a possible Bullish engulfing candle from Demand zone in the coming week(s). iii. In as much as I look out for Bullish options from my Demand zone on this pair, a Breakdown of 1.25000 might render this set-up invalid and pointing to 1.24000 (Weekly Trendline). Trading plan: BUY confirmation with a minimum potential profit of 200 pips. Risk/Reward: 1:3 Potential Duration: 4 to 12 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
GBPUSD | WEEKLY PERSPECTIVEThe British pound has been Bullish in recent times, as we continue to see a rally. Every time it looks as if it is going to fall, Buyers step in to push the price up again! A Breakout of Key Level I (neckline) which is important to me during the course of last week gives me a setup that is similar to a Reversal pattern (Inverse H & S) inciting an Uptrend continuation on my Daily chart. Tendency: Uptrend ( Bullish ) Structure: Breakout | H & S | Support & Resistance Observation: i. Price falls to a trough @ 1.23500 and then rises; then falls below the former trough into a level @ 1.22500 and then rises again and finally falls again but not as far as the second trough before breaking out @ 1.25500 last week speculates a Bullish bias. ii. Our Key level I - the neckline was retested on the 10th of July followed by what appears to be an Uptrend continuation. iii. It is also worthy to note that the present structure has a possibility to correct into our Key Level II @ 1.24500 should in case there is a scenario where those who took advantage of the Bull run last week sold to make quick gains before taking a second thrust. Trading plan: BUY confirmation with a minimum potential profit of 450 pips. Risk/Reward: 1:3 Potential Duration: 4 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
GBPUSD | Is the CABLE ready for the decision rate?#GBPUSD 2H The Cable (nickname for GBPUSD), is witnessing a sharp bearish activity since last week due to the unexpected GDP change (-20%). Therefore, we are expecting it to continue this bearish trend for the next week. However, we have the "U.K. Interest Rate Decision" coming up on Thursday this week, so we need to account also for the possibility of a "surprise" move by the Bank Of England (BoE). As it might decide to change the interest rate to stimulate the economy, which will give the GBP a short-term boost. Therefore we have two scenarios, and we are ready to ride both directions. Technically speaking, GBPUSD has broken multiple support areas last week during its sharp movement, therefore suggesting that the fundamentals are moving this pair in the mean time. If GBPUSD manages to break above the resistance and the MINOR bearish trendline, and closes a 4H candle above. Then, and only then, we will activate our Bullish Scenario. On the contrast, if the price manages to break below the MAJOR bullish trendline and breaks the price area @ 1.24500, and closes a 4H candle below it. Then, this will activate our Bearish Scenario 📰 Economical News to watch for: 1) U.S. Core Retail Sales m/m 2) U.S. Retail Sales m/m 3) U.S. Fed Chair Powell Testifies 4) U.S. Building Permits 5) U.S. Unemployment Claims 6) U.K. Average Earnings Index +Bonus 7) U.K. Claimant Count Change 8) U.K. Consumer Price Index (CPI) YoY 9) U.K. Interest Rate Decision 10) Bank of England (BoE) Monetary Policy Committee (MPC) Meeting Minutes 11) U.K. Retail Sales MoM ⚠️ Risk ONLY: 2-3% Good Luck! For continuous updates, join our FREE telegram channel (link below)
by UncleBullFX