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Pounddollar

GBP/USD in breakout modeFundamentally, we are waiting for the general elections in early December. We had negative , below expectations figures today for the UK PMIs. Technically, sterling is trading in a slightly down channel which could be a bull flag given a very fast recovery from all time lows recently. On the daily chart, we have 2 scenarios: 1- prices keep trading in a range and forms a rectangle, which is a continuation pattern (bullish). 2- prices complete a triple top formation and breaks to the downside (bearish). In my opinion, the catalyst will be the results of the elections soon.. Good luck
by RamziAbouAbdallah-CMT
GBP/USD: Solid Bull Flag!Hello my dear Forex traders, and welcome to this GBP/USD analysis! ;) Since the bottom bounce at 1,20, we have now come to psychological 1,30, and are still in a Solid Bull Flag. I'm gonna show you how you would've killed it with our trading system. Have fun watching! ;) If you had some value from our analysis, give it a thumbs-up & comment it, because the mechanism shows our analysis to other people then. Make also sure to follow us so you get notified on our analyses! I wish you a good trading! :) Edgy is providing online education & indicators only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Long
by Edgy_
GBPUSD break support trend line SHORT ?GBPUSD break green support trend line. Current testing EMA 21. GBPUSD was formed correction structure. Still Uptrend price action above EMA 50,100 and 200 periods.3:0 Risk Reward plan retest EMA 100 at 1.25905 price level. Volume: bearish/red volume increased. Indicators: Bearish MACD crossover above zero line, going to break zero line, RSI above 50 points. First sign of correction. S/R: Support at 1.2899 EMA 21, Major support 1.26$, Resistance at 1.3 psychology, Major Resistance 1.30125. Disclaimer: THIS IS NOT FINANCIAL ADVICE. All the information shared here is for learning and entertainment purposes only.
Short
by blockchaintrends
GBP/USD reaches target like forecastedGBP/USD has finished a 3-wave ABC move to the upside like analyzed prior (blue target). The pair could now be watched for reversals. However due to the news this pair has become very volatile so at the moment I would just watch from the sideline. It is possible that we get an overshooting in which case the pair could reach the second target (pink). Eitherway the blue targetzone or the pink targetzone are potential reversal points, overall the picutre remains bearish for the pair at this point in time.
by JonasBenjaminFriedrich
1
GBP/USD Price Action Analysis | The Safe SetupPound is keep showing weakness against Dollar. Even though shorting at the Range High seems like a good idea, there is still untouched liquidity above. This setup gives a better R/R although being less likely to happen. Playing safe is important. Entry: 1.2419 SL: 1.2511 TP-1: 1.2211 TP-2: 1.2111 TP-3: 1.1971 R/R: 4.87 ‪Please let me know if you have any suggestions or any ideas to add. I can also give you more detailed explanation for this specific trade setup.‬ ‪The ideas published here are not financial advices. ‬
Short
by CompositeTrader
5
GBPUSD breaks the resistance. Buy from the current priceFew days ago we created a support and resistance for the Cable that when it breaks, it will continue. However when market is manipulated nowadays it is tricky to see which will it go later. However because of the ISM Manufacturing last night, it gives us an idea where the high chances that it will go. Always use a proper risk management because a Trump tweet or a recent trade war deal might stopped you out. Get our free signals here: t.me Follow us on Facebook: www.facebook.com
Long
by NathanielRondon
GBPUSD forming a bearish Shark | Upto 24.50% expectedPriceline of British Pound / US Dollar forex trading pair is forming a bearish Shark and entered in potential reversal zone to start the formation of last leg soon insha Allah. Price action is also hitting the support of bollinger bands. RSI is oversold. Volume profile of complete pattern is showing less interest of traders at this area. Stochastic is oversold. But Stochastic did not give bull cross sofar and MACD is still strong bearish therefore I would suggest to wait for MACD to turn weak bearish or for Stochastic bull cross signal then buy. The potential reversal zone can be used as stop loss in case the complete candle stick closes below the PRZ area. I have used Fibonacci sequence to set the targets: Buy between: 1.22420 to 1.17505 Sell between: Secure targets: 1.27537 to 1.38147 Aggressive targets (upto the completion of leg) 1.41488 to 1.46370 Regards, Atif Akbar (moon333)
Long
by moon333
USDGBP hitting down channel support | A good long opportunityIf we see the movement of price action US Dollar / Pound Sterling then it giving easy profits within the channel by hitting bollinger bands support and moving up even most of the times it is not hitting the channel's support but moving up after hitting the bollinger bands. But this time it is hitting the channel's support and the lower bands of bollinger bands both at a time moreover price action is also hitting the 50 simple moving average support, so this time the chances of bullish divergence are more stronger. MACD is still strong bearish and Stochastic is almost entered in oversold but did not give any bull cross sofar therefore I would suggest to wait for MACD to turn weak bearish from strong bearish or for stochastic bull cross then take the long position. I have used Fibonacci sequence to set the sell targets. Sell between: 0.81973 to 0.83048 Regards, Atif Akbar (moon333)
Long
by moon333
4
Cup and handle coming? INV H&SReversal XABCD pattern up to 1.2200 SL should be below Daily candle of 1.20 or 1.1980 zone. Medium to high risk - we could drop 1 more leg down before a reversal should we not break above 1.2080 by end of Europe tomorrow. On Hourly we have a left shoulder into a drop making a head formation with an adam and eve pattern. There is a lot of volatility here around this zone with impulsive buying strength. GL and trade with risk management as always. Doesn't matter how much you lose as long as your winners out weigh your losses every quarter! :D Thanks all enjoy and let me know what you think!
Long
by AschraM
GBPUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.212. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.221. TP4: R2=1.2245. Set the stoploss of these orders at breakout of S2=1.21. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.21. In this situation, there is an expectation to reach the target S3=1.201. Set the stoploss of reverse orders at breakout of S1=1.212. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Long
by ForecastCity
2
GBPUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.212. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.221. TP4: R2=1.2245. Set the stoploss of these orders at breakout of S2=1.21. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.21. In this situation, there is an expectation to reach the target S3=1.201. Set the stoploss of reverse orders at breakout of S1=1.212. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Long
by ForecastCity
10