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InvestMate|GBP/USD Undermining The Uptrend Channel💷💵💷💵GBP/USD Undermining The Uptrend Channel 💷💵As I wrote in my last post GBP/USD behaved exactly as I predicted: 💷💵We broke out the bottom of the long-term uptrend channel. 💷💵The downtrend scenario remains unchanged at this point, I still expect a continuation of the local downtrend in the coming weeks. 💷💵The support and resistance zone remains unchanged. 💷💵Given that we have pierced the 50-period moving average and the MACD and RSI are generating downward signals as to the declines I have no doubts at the moment. 💷💵The scenario I'm playing out is a continuation of declines to levels around the support zone. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
2
GBP/AUD upside ready for next week...Recently we have finally seen some rest bite for the pound after looming USD data. Other instruments are markets have also somewhat corrected and as we can see from GBP/AUD we are picking up some momentum to the upside with targets of 1.8400 for next week. Always follow your trading plan regarding entry, risk management, and trade management. The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations.
Long
by FTUKcom
4
GBPAUD: Your Trading Plan 🇬🇧🇦🇺 GBPAUD is trading within a wide horizontal trading range on 4H. The price is currently coiling around its resistance. To short with a confirmation, watch 1.8128 - 1.8166 area. It is a neckline of a double top pattern. We need a 4H candle close below that to confirm its breakout. Short aggressively or on a retest then. Goals will be 1.808 / 1.803 If the price sets a new high though, the setup will become invalid. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
5
GBP/USD -15/12/2022-• Potential inverse head and shoulders • Bullish reversal pattern forming after a downtrend bottom • Expect right shoulder to have a higher support than left shoulder • Therefore, a retracement to 1.20 or 1.19 expected before the upside breakout • Breaking the left shoulder's support around 1.17 invalidates this pattern • Upside target is projected based on the height between head and neckline • Successful breakout implies Pound surging towards 1.40
by RamziAbouAbdallah-CMT
InvestMate|GBP/USD As I Said💷💵💷💵GBP/USD As I Said 💷💵The scenario I wrote about recently has started to materialise: 💷💵The direction and support and resistance zones remain unchanged. 💷💵Given the momentum that started after the Fed raised interest rates by 50 basis points. 💷💵A continuation of the price decline looks very likely. 💷💵We have already broken through the 50-period moving average and are slowly breaking out of the uptrend channel. 💷💵Looking at the MACD and RSI, I have no doubts about the strength and validity of the movement I expect. 💷💵It may take some time for us to reach the support zone, but knowing that the declines continue much faster than the uptrends, everything may be over within the next weeks. 💷💵The scenario remains unchanged. I still expect the declines to continue. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
2
GBPUSD 19% Up From Record Low!It was only in September this year that the British Pound fell to record lows, with the exchange rate hitting a low of 1.0356. Price swiftly reversed after that drop and bounced hard from the record low and back into the consolidation area. We have seen a 19% price move to the upside, above the 1.2000 round number. Now the next level of resistance is the 200 simple moving average. We need to remember that price is back in consolidation, which ranges between 1.1409 and 1.4376. The consolidation area started back in October 2016, and with the recent fake breakout of support, it is proving to be a difficult area for price to escape from. From a trend-following perspective, there is not much room to catch a big move, with their being major support and resistance levels around price. However, short-term traders may see opportunities in this forex pair. If you enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
by Sublime_Trading
GBP vs JPY: Longterm analysisHello everybody! After watching the long-term GbpJpy pair, it can be said that the downtrend is approaching. Cutluk H4 can't read the maximum number of times. There is a strong possibility that gbpjpy will not find strength this time and will go down. However, since Forex is a game of probabilities, I can say that it is possible to wait by placing pending orders at certain thresholds. This threshold is initially 168.80. It is necessary to put a sell stop here and wait for a shower. But if we consider otherwise, we can see which probability is more correct by placing a buy stop order at the price of 169.15. In any event, we will emerge victorious. Good luck!
Short
by Forexcues
2
InvestMate|GBP/USD Declines Are Inevitable💷💵💷💵GBP/USD Declines Are Inevitable 💷💵Looking at how the GBP/USD bumped upwards today on news of the latest inflation readings in the US 💷💵It may confuse some and provoke further rises. 💷💵But I believe this was the last attempt at increases before the incoming wave of falls. 💷💵Looking at the divergence that has formed on the MACD and RSI 💷💵And considering the fact that no significant correction has occurred on GBP/USD for the last weeks. 💷💵I think it would be prudent to set up a resistance zone around the recent peaks. 💷💵And the support zone remains unchanged. It has been set out in previous posts but to make it easier for you to understand I will write you again what it is based on 💷💵Support zone is around the 1.16 level, where there is a cluster of as many as three fibo levels. The first is the 0.382 level of the same wave as the first support zone . The second level is 1.272 of the entire upward wave from the 2001 bottom to the 2007 peak. The third level is 0.886 of the entire upward wave from the 1985 bottom to the 1992 peak. 💷💵The scenario I am playing out is the start of a decline and a continuation of the movement to the designated support zone. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 💷💵*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
23
GBP/USD: Pound in a tough resistance zone. Pullback in sight?The British pound has staged an impressive 18% rebound since its September's lows and is now entering a pivotal week given the upcoming Fed's (Wednesday) and BoE's (Thursday) meetings. Even though the latest signs of economic activity are mostly better or in line with expectations, they actually show that the economy is slowing down and that a recession is getting closer and closer. Following a 0.6% decline in September 2022, the UK GDP increased 0.5% in October, the largest growth in over a year and slightly above predictions of 0.4%. The service sector, which continues to be resilient, had the greatest expansion. Instead, industrial production in October 2022 was flat from the previous month, following a 0.2% decline in September, which also matched market expectations. Continuing growth uncertainties and housing market jitters might have future dovish consequences for the BoE. On Thursday, it will be important to know if the differences between board members that have already come up are getting bigger. At the last BoE meeting, the vote to raise 75 basis points was divided (7-2). Markets are pricing in 56 basis points, thereby fully expecting 50bps. As a result, anything less than 75bps will be a marginally negative outcome for the pound. A hawkish Fed and a dovish BoE will have a negative impact on GBP/USD, which has recently re-established its correlation with the 2-year yield differential after decoupling from August to October. How to tactically trade GBP/USD this week: Key technical levels to watch The cable technically broke above the 200-day moving average (1.211) and has remained above it since the beginning of the month. As we get closer to a crucial resistance area around 1.225-1.24, which corresponds to June highs and a 6-month 100% Fibonacci retracement level, the bullish wave is beginning to lose some of its momentum. Following the solid rally since November, the upside potential for the pound looks to be rather stretched, and this week's rising risks of a hawkish Fed and USD bullish sentiment may lead to some pullbacks to 1.20 or lower. 1.196 is an intriguing initial line of support to keep an eye on, corresponding to the 78.6% Fibonacci level and the -1std of the 20dma Bollinger band. If cable fails to hold there, 1.161 (61.8% Fibonacci) might be a month-end target.
by Capitalcom
2