Get started

Pounddollar

GBPUSD emerging from years long bear trend and going back upBritish Pound/USD is giving us signs that we might begin to see a reversal to the bear trend that has lasted for 13-14 years. 1Y TF white energy is just starting to move up and about to cross the 50 mid-line. Unlike in 2014, where the white energy failed to move above 50 and dropped back down along with green line as the price stair-stepped down, this time the red RSI is at a much lower position where the green line and the white energy may not bounce off of it again, and I think there is a decent chance we may see the white energy go above 50 mid-line in the next 1Y candle. In the meantime, in the lower TFs such as 6M and 4M, we are seeing signs of a budding upward momentum brewing as the price started going back up and above weekly 200 EMA that we have been trading under for almost 7 years now. It is likely to see GBP continue to appreciate for several more months before any mid-long term, months-long correction phase is to take place. In the long term I personally believe that we are going to continue to see the price go up. For a long term investor, it may be a good time to started moving your assets into GBP seeing it has the potential to continue to rise in value. Alternatively, one could wait until the 1Y white energy crosses above 50 for confirmation of upward momentum before getting in. FOREX markets aren't necessarily a playground for scalpers; one could very well do swing trades with GBP. At this point, for the foreseeable few months, I do believe we are at a spot where a mid-long term swing long would be profitable.
Long
by Popovich
Closing in on a further Cable Short. Caught 100 Pips Signal was sent on Oct 4 for Cable short. 100+ pips caught, the current situation facing this pair is that cable is going for a restest of 1.3 price level. It would be best now to exit your short position, if you have not already, and wait for the double top to form at 1.3. With the volatility seen led by fundamentals surrounding last week's Brexit negotiations and Donald Trump's hospitalization creating a false crossover of the ema and sma indicators, it is clear to see that if you are bearish inclined on this pair this will be the optimal play: Wait. Wait for the pair to form a double top. Wait for cable to come back down to last months support at the 1.28 price level and then enter the short. There is a chance that cable could even lean towards the 1.35 higher resistance, but with the price action patterns forming it is more than 50% unlikely that a long will occur- especially as hedge funds now are seeking weakness in the pound to enter short positions based off the breakdown of the Brexit negotiations and the political instability surrounding this key fundamental. No, going into the last few months of this very unique year (to say the least) I believe 1.3 will act as a major resistance level for the pound, of course it is already a major price point for this pair. But of course the dollar strength hinges on the outcome of a presidential election which nobody can predict its effects on the financial markets... Best wishes,
Short
by Hardy_FX
GBP/USD Ichioku Long AttemptAfter a good bearish run this pair has found some support and is now trying to rebound. We've seen some hard resistance here so I'm looking for a confirmed break of the yellow level to signal a buy for me. If we can hold above that level I've drawn out 2 partial take profit levels on the way to my overall target. If we fail to hold our bullish confirmations or if we fail to break out and hold above our entry line, this setup may become invalidated.
Long
by The808Trader
2