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GBPJPY Potential Forecast | 23rd March 2023Fundamental Backdrop 1. GBP inflation came out strong and paves way for more hawkishness from the BOE and rate hikes. 2. JPY continues to be the dove. Technical Confluences 1. Price is currently on a higher timeframe bullish trend 2. Price could tap on the H4 resistance above (red zone) 3. Price have cleared the previous daily low Idea Looking for the price to head towards the H4 resistance at 166.04. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Long
by OlympusLab
GBPCAD MASSIVE BEARISH MOVE TO 1.40500GBPCAD have been on a bullish move since last year, and currently is on a bullish continuation pattern, which indicates that price might go bullish for a while again. Now let's have a strong look to the long wick we can see below, that's huge liquidity and is expected to be taken. So how do price get to that zone? It first have to go bullish and hit the resistance zone or the point of 1.68400 before it sells massively, we still have time for that to happen. I will keep you updated on this. Meanwhile, i will love the support I have been having, I appreciate a lot. For me to feel more happy a share and a follow will be appreciated. Have a nice week. Thank you.
Short
by Superstarsony_05
2
Resistance at 1.2200 for GBPUSDThe GBPUSD rebounded from the buying zone i identified in my previous analysis, but it is now consolidating just below the 1.2200 resistance level. The second wave has less momentum than the first, indicating divergence on momentum indicators. If the price fails to break above the level and forms reversal candles, this could signal a double top pattern. However, if the level is broken, it may be a bullish entry signal with a target of at least 1.22750. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
by Candlestick_OB
1
GBPAUDHi; good evening. GBPAUD has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Short
by HamidRamezani1992
GBPJPYGBPJPY has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Long
by HamidRamezani1992
GBPUSD Reaches Critical ResistanceThe GBPUSD has broken down from a bearish price pattern, touching the monthly trendline at 1.1800 before rebounding to retest the previous breakdown level at 1.19254. We anticipate a potential reversal from this level back to the downside, although there is also a possibility for the price to continue rising towards 1.19984 before reversing lower. ------------------------------------------------------------------------- Let me know your thoughts in the comments, and show your support by liking the idea. Please follow if you're interested in more ideas like this. Your support is greatly appreciated!
Short
by Candlestick_OB
GBP rebounded strongly, beware of traps!GBP/USD GBP/USD continued its technical correction rebound in the short period and climbed above 1.190.However, from the daily line, although GBP/USD has rebounded significantly, it is not enough to change the daily short trend, indicating that the overall trend of GBP/USD at a large level is still weak.In the 4-hour chart, the short-term sustained rebound caused the market to get rid of the weak downward channel and return to the previous level of the channel. Although it still belongs to the downward channel as a whole, the short-term weak market has been technically improved. At present, there has been a decline in the rebound market, which proves that the upward momentum is gradually being consumed, but as long as it can be maintained at the position above 0.190, it is possible to challenge the position above 0.196. If 0.190 cannot be supported, the pair may fall again and touch the boundary position of the descending channel line. In order to facilitate everyone to continue to follow up on my analysis and sharing, you can like and follow me; in addition, I will share the daily real-time strategy in the channel. If you can't follow up in real time, you may make operational errors.You can use the following methods to enter my channel for free to follow the latest news and follow up on market trends in real time.
Short
by Blessed_V
GBPJPY Potential Forecast | 8th March 2023Fundamental Backdrop 1. Upcoming GDP q/q for the GBP releasing this Friday. 2. A positive print and above forecast will set the GBP for some bullish pressure. 3. Overall, due to interest rate differential and the difference in monetary policy stance of BOE and BOJ, GBP continues to appreciate against the JPY. Technical Confluences 1. Price has officially tapped into the H4 support at 161.91. 2. Price continues to form higher highs and higher lows. 3. Anticipate for price to tap into the H4 resistance level at 166.04. Idea I will be looking for price to continue its bullish momentum and for a break of structure on the lower timeframe which will serve as a confirmation for my long entry.
Long
by OlympusLab
1
GBPUSD Outlook 6th March 2023The GBPUSD completes the downward move following the formation of the Head and Shoulder pattern. As the price test and failed to break below the 1.1920 price area, the GBPUSD has rebound strongly to the upside, above the 1.20 level, and could approach the resistance level of 1.2070. Currently consolidating along the 1.2040 price level, look for further DXY weakness to take the GBPUSD higher. However, a more prudent trade would be to wait for the price to break above the immediate resistance level first. Beyond 1.2070, the next key resistance level is at 1.2150.
Long
by JinDao_Tai
1
GBPJPY Potential Forecast | 6th March 2023Fundamental Backdrop 1. GBP inflation continues to remain elevated at 10.1% for the month of January. 2. BOE continues to take a hawkish stance and most recently raised rates by 50bps to 4.0% in its February meeting. 3. Inflation would need to make a marked fall for the BOE to revise its hawkish stance in the market. 4. BOJ continues to maintain its key short-term i/r at -0.1%, signifying the dovish stance in the market. 5. This wide interest rate differential continues to play a pivotal role in the appreciation of pound over the yen. Technical Confluences 1. Price is currently flirting the H4 support level at 162.8. 2. Price has also retraced past the 50% in the fibonacci retracement. 3. Price is also resting on the Ichimoku cloud on the H4 timeframe and this serves as a dynamic support zone for price to continue higher as well. Idea Looking for long positions on the GBPJPY for price to head up to tap into the HTF resistance at 166.04. NOT FINANCIAL ADVICE DISCLAIMER The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas. We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades. Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks. OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
Long
by OlympusLab