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Greatbritain

GBPUSD set for further decline Starting this year, a declining channel has been set up as seen by the maroon coloured lines. In Dec, we broke below this channel displaying a more bearish sentiment. A very strong support lies around 1.31836, this is a multi-year support/resistance from 2017,2018, 2019 & 2020 Firstly a retest and rejection of the channel will be a great first indication of further bearish movement. Secondly, a clear break through a multi-year support will confirm the downside. First TP ( 2:1 ratio) will be around 1.29388 as there is a strong weekly support, to be catious close half of your position around if candle shows long wicks (weakdness) Second TP (4:1) will be around 1.27137. There is a very strongly weekly support around this region. Set stop loss just slightly above the channel as show, after first TP move your stop loss to slightly above 1.29388. All charts, daily, weekly and even renko charts display a bearish sentiment. Trade easy and simple with good risk to reward ratios. I do not sell any signals, just a retail trader that enjoys trading.
Short
by UnknownUnicorn7338697
4
GBPUSD shortfrom my last analysis the major support level was 1.3804, when the price test the 3rd time the support level break and we are looking for a short position for long term, our first resistance will be 1.3730 with possibility of price making lower lows, if price continue with downtrend channel next support is 1.3684, and more bearish movement can hit the last support at 1.360... looking at the Macd and rsi we are making bearish movement, we most likely see more bearish divergence. once 50ma crosses below 200ma we are in long bearish position. good luck
Short
by baigxy
GBPUSD ShortThe price has reached the major resistance trendline, the price also had some bullish divergences as we began this week... however the Macd showing an end to bullish divergence, I expect the price to fall by this week. if price do break the trendline resistance then we can expect the price to go up and hit 1.389 resistance level. if price do continue to have more divergences then we can expect the price to consolidate up to 1.378 and then go bullish.. Like it did from 1.378 to 1.371. good luck
Short
by baigxy
UK COVID-19 Next Wave Projection Update IIFrom the previous post on 14 May, I was doing a friend a favour into looking at the UK projection as she is living in London. I said "... and projection made that the start of a spike is at the end of June, into July . IF this projection is on point, then outnbreak news should be seen in the latter part of July ." It is the beginning of July, and it appears that the AMCD histograms trended up as expected, and is about to break out into a major spike given the weekly chart is about to crossover into the bullish territory. The daily chart is clearly showing the spike in force... go see it. So there you have it, yet again, this MACD model is projecting very well the onset of spikes. IF the powers that be, could appreciate this heuristical statistics, we might be able to intervene appropriately. In any case... the weekly MACD is about to cross up, which is seriously bad news!
C
by Auguraltrader
GBP/USD Is At a Difficult Position - Here is How to Trade it.After a fantastic trade set-up for GBP/USD on my previous idea where we saw that indeed the confluence between the support zone and the trendline caused the price to go up, we are now at a difficult situation. If you were long already a great place to exit could be directly underneath the horizontal resistance. However, if you're not in the trade at the moment this is not a good moment to buy. Instead, I suggest waiting until the price reaches the resistance and go short there for a better risk-reward on your trade. For the take profit position, you can see that I deviate from my normal suggestion. Instead of taking profit at the horizontal level, I decided to be more conservative here and suggest holding to the trendline only. The reason for this is that the ascending trendline indicates a bullish trend overall, and therefore I feel waiting until the horizontal support would be too optimistic and risky. - Trading-Guru
Short
by Trading-Guru
7
COVId-19 Scan for the US, GB, GER and CHNCOVID-19 Confirmed cases for the USA, Great Britain, Germany, and China... Clearly the Western (world) major economies are having trouble handling the COVID-19 pandemic. Germany appears to be the most parabolic, then Great Britain is similar although not as steep. USA is not far off in the speed of spread. Opposing to that, China has been doing well, and numbers are low, with the MACD having an opposing pattern, falling as time goes along. This is going to be the stage for 2021; and the writing is on the wall (chart) now...
C
by Auguraltrader
This 544 Pip Opportunity Is Backed Up By Confluence!In this idea on GBP/USD we find confluence of two major chart patterns. A supporting trend line and a horizontal support zone. In trading, the presence of confluence refers to a circumstance where multiple technical analysis factors collectively form the same indication. Since multiple factors are combined, confluence has the potential to greatly increase the reliability and accuracy of trades. Arguably confluence is the most important probability enhancer in trading. The support zone is created due to the S/R flip. Besides buying at support and selling at resistance, the ”Support/Resistance Flip” principle provides reliable entry opportunities. Although supports and resistances are likely to hold, they do not always hold. After a support or resistance is broken, the level remains useful. This is due to the general trading rule that a broken support becomes resistance, and a broken resistance becomes support. In other words, once a broken resistance level gets retested, it tends to act as support. This concept is particularly reliable when a support or resistance level breaks on high volume. Together, this marks a very high probability reversal point. I see a great potential here for a 544 pip trade set-up. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Long
by Trading-Guru
8
Bullish GBP/USD Retraces and Creates Fantastic BUY OpportunityIn this idea I will share my technical analysis on GBP/USD and explain what the most important things are to pay attention to. Here on GBP/USD we see that overall the pair is in an uptrend, which can give us a slight bullish bias, favoring long positions over short positions. At the same time we see a small horizontal channel forming between the horizontal support and horizontal resistance. What we're looking for in trading is simply adhere to the age-old principle buy low and sell high. Based on the horizontal support and resistance we can see that the price is low right now, while getting confirmed on the support area. I suggest a long trade towards the resistance which should give you about 160 pips. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Long
by Trading-Guru
7