Gbpusdsignals
GBPUSD is painting Inverse H&S on smaller timeframe. let's watchAs highlighted, GBPUSD is painting inverse head and shoulders on smaller timeframe. a break above 1.2060 will give us long signal. right now, I'm watching. DXY is bearish and GU has been making new lows. hopefully, it'll take a breather now and change its trend.
GBPUSD Sell SignalPattern: Channel Down on 1D.
Signal: Bearish as it was rejected on the Lower High zone.
Target: 1.23800 and 1.22600 in extension only if the dashed line breaks.
GBPUSD Sell SignalPattern: Multiple Top Rejection on 4H.
Signal: Bearish if the MA50 is crossed by more than the former fraction that supported (June 10).
Target: 1.25600.
GBPUSD Sell SignalPattern: Inverse Head and Shoulders on 4H, Channel Down on 1H.
Signal: Bearish as the price was rejected on the top of the neckline and the 1H Channel Down is pricing a new Lower High.
Target: 1.2640.
GBPUSD Break out pointsPattern: 1D Channel Up.
Signals and Targets: Bullish if the 4H Lower High trend line Resistance breaks (red line) with TP 1.3500. Bearish if 1.2955 breaks with TP 1.2775.
GBPUSD Sell SignalPattern: Channel Up on 1D.
Signal: Bearish as 4H is on Lower Highs creating a Triangle.
Target: 1.3060 (Higher Low).
* If 1.2955 breaks it is a bearish break out from the 1D Channel Up. TP 1.2775.
GBPUSD Sell SignalPattern: 1D Channel Up.
Signal: Bearish after the pattern made a Higher High.
Target: 1.3110 (the inside supporting trend line of the Channel Up).
The long term Brexit effect on GBPUSD:
GBPUSD The Brexit effect long termHere I have put together the time-line of the Brexit related events and how those affected the price of GBPUSD.
GBPUSD was rebounding on its 7 year support zone when the Brexit vote took place, causing a lash crach on the pair.
The pair's strong bullish technical inclination (mixed with hopes of no Brexit) made it rebound again following the vote. It reached the pre-vote levels when May invoked article 50, starting the countdown, causing another crash on the pair.
The recent uncertainty on the parliament votes may have brought volatility back on the table. Will it make the upside attempt fail, causing a new crash? The pattern shows so far that it can. GBP's strong technical trend is now gone until this matter is resolved.
GBPUSD Buy SignalPattern: Channel Up on 1D.
Signal: Bullish after making a Higher Low.
Target: 1.3300.
GBPUSD Sell SignalPattern: Ascending Megaphone on 1D.
Signal: Bearish after the price was rejected on the 1W Resistance.
Target: 1.2900 (-3.36% pull back based on previous Higher Low).
GBPUSD Sell SignalPattern: Inverse Head and Shoulders on 1D.
Signal: Bearish near the 1.3300 1D Resistance and the RSI turning 70.000.
Target: 1.2830.
