Hi Traders, Here's a summary of the week so far for USD/JPY and GBP/USD. This week has been packed with economic data releases. Earlier today, the Bank of Japan kept interest rates unchanged but expressed optimism about improvements in the broader Japanese economy. The overall trend for USD/JPY remains bearish, and we anticipate this to persist into the coming...
Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPUSD is practically neutral on its 1D technical outlook (RSI = 56.00, MACD = -0.001, ADX = 28.566) and testing the 1D MA50 for the 2nd time since May 3rd. Last time it got rejected emphatically and being exactly on the LH trendline, there is very low risk in selling on the current market price. The target is a little over the S2 level (TP = 1.2220). ## If you...
GBPUSD is in range so we prepared the trade plan by playing resistance and support, prepared two trade plans
Currently, my focus is on observing the H1 Bullish Order Block, which notably incorporates an embedded m15 Bullish Order Block. This configuration appears robust, particularly due to the presence of inefficiencies such as the Liquidity Void and Fair Value Gap. Upon market movement, my anticipation is for price to gravitate towards the liquidity provided by...
GBPUSD is being rejected repeatedly at the top of the multimonth Channel Down but the 1D MA50 is still supporting it. However the squeeze has gotten to narrow and being on a neutral 1D technical setting (RSI = 50.057, MACD = 0.002, ADX = 25.323), we expect a bearish breakout soon below it. The similarities of the 1D RSI with last August, show that there is...
Even though GBPUSD is trading in a bullish trend since October, the pair is in a deep consolidation, the last 3 weeks. The pair is currently stuck within a horizontal range on a daily. Depending on the reaction of the price to its boundaries, I see 2 potential scenarios. Bullish Scenario If the price breaks and closes above 1.283, we can anticipate a movement...
GBPUSD has been caught up between two long term patterns, a Channel Up since December 2022 and then a Channel Down that emerged after the July 14th 2023 High. Right now it is on the rising wave (dashed Channel Up) of the Channel Down and on the November 29th High got overbought on its RSI (now balanced with RSI = 58.041, MACD = 0.009, ADX = 28.423). Our intention...
GBPUSD hit the bottom of the prolonged Channel Down pattern, reaching extreme oversold technical levels on the 1D timeframe (RSI = 21.119, MACD = -0.012, ADX = 59.945). The 4H MACD is approaching the formation of a Bullish Cross, and prior price action shows that when formed this low, it always rebounds and hits at least the 1D MA50. We are on an early long...
GBPUSD crossed under its four month Channel Up pattern, as well as closing under the 1D MA50, thus turning the 1D timeframe bearish (RSI = 43.717, MACD = -0.001, ADX = 34.501). Currently this is a sell signal, targeting the 1D MA100 (TP = 1.2625). Every Support (S) broken, will be a sell signal for the next one. We are buying only if the price crosses over the...
GBPUSD is trading inside a Bullish Megaphone pattern after the March 8th bottom with the 1D timeframe still bullish (RSI = 61.970, MACD = 0.007, ADX = 32.900) despite the fact that the price has been on a pullback since the June 16th high. This is because the technicals were previously overbought and the harmonization process is longer. Technically when the RSI...
The pound has hit a recent high, opening up space for upward mobility! This chart shows the weekly candle chart of the pound against the US dollar for the past year and a half. The image is overlaid with a bottom to top golden section. As shown in the figure, the pound has reached a recent high against the US dollar, demonstrating the strongest performance...
GBPUSD is pulling back to the MA50 (4h) inside a Channel Up pattern. Every Channel Up Higher Low has been on the MA50 (4h). Trading Plan: 1. Buy when the price hits the MA50 (4h). Targets: 1. 1.2670 (Resistance 1 and May 26th 2022 Top). Tips: 1. The RSI (4h) is inside a Channel Down and every touch on its bottom was a buy entry for the pair. Use it as...
GBPUSD has already tested high of the weekly now, it is a high probability that GBPUSD may drop to weekly support zone as long term trend is bearish.
gbpusd has the potential to continue the trend with the first downside target at 1.30152 and the next downside target at 1.29012 The closest demand area is at 1.3178 - 1.31666
For More Helpful Trading Videos and Analysis, Go ahead and click on the follow button. If you have any questions too, please do Ask! Sometimes, Markets will rapidly change their mood. Its up to you to be prepared for it before it happens. In this video we are going to analyse the GBPUSD based on core risk management strategies and Trading Mindset. This is about...
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
ab=cd to 0.618 FIB. . . Remember in a risk-reward equation, we can control only the risk, do that and you will be fine. It's a game of probabilities :)