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Pounddollar

GBPUSD Sell OpportunityLast night we saw major USD pairs rally when PBOC bought some of its stocks and Trump's remarks on Fed Powell's rate hikes. Today we expect USD pairs to continue its bearish trend before reversing. It broke upwards the lower trendline of the bearish channel during the fundamental effect of last night's news, but as long as 90 EMA holds, we are still bearish on the pair. GBPUSD is at a horizontal resistance now, just below the 90 EMA on 4 hour timeframe. Failure to break above this will push us to go short on the pair. Entry, stop loss, and take profit levels are indicated in the chart. Trade at your own risk!
Short
by AngelaFTrading
Potential 100 pip trades aheadPound has been moving strong but without any real long-term direction. We are approaching another key lever which is around 1.3175, it is also a 61.8 fib retracement level from previous bull run and the one before, seems like everything is lining up for a bullish run through the resistance we have touched yesterday. But also if we go below this level, we could see bears taking over and smashing the support 1.3050,... Ok, let's take it easy 1.3050 support is holding very strong with weekly confluences as well but if the 1.3150-1.3175 level wont hold we can expect at least a touch of 1.3050. Just wanted to give you guys a quick recap of what is happening, we don't have a trade yet, price action will determine nice entries but first, as said before lets see what price does around 1.3175.
by FXAN
GBP/USDSo basically, the way I have it drawn up as it did a 5 wave from the top, wave 5 being in the form of an ending diagonal. So, at this point, I would watch that 200 on 4hr to possibly give a buy setup in the form of flag. I circled where buy should have been from. I don't really feel like we can predict exact structure considering where we are at, but I drew up what I see as potential pattern. I consider it to be a buy setup and would think it would test that zone at least with a possibility of making some kind of flat pattern. Safest thing... Watch the 200 on 4hr, see if you get a smaller correction there. It can just break out, but watch out for a larger W-X-Y pattern to form. (That's the flat scenario I am showing). It's bout strategy.
Long
by thillygoosth
GBPUSD short triggered based on Politics, Fibs, ResistanceGU short in play. Several Brexit ministers just resigned. PM May's future is in serious trouble, per many in the know. Brexit Blues just might make a come back here soon. So this a scalp to start, looking for the 4.25 extension of initial move down from the news. The 4.25 extension also aligns with previously established Fib Zone (grey). So my first TP will be just short of the zone and the 4.25. Depending on how things progress (assuming towards TP) I might let some ride for a longer downturn if Political uncertainly in UK remains or increases.
Short
by EuroMotif
GBPUSD H4With similarities to Aussie on the weekly time-frame we saw price form a bullish retracement to retest the downtrend at the back-end of last week. This was off the back of positive fundamentals and price seems to have formed it's lower high, rejecting the trend which is also in line with the refined Fibonacci region. Price has already broken the simple moving average and is testing the exponential moving average as support. Given the overall trend we remain bearish on this pair but we'd require a break back through this area of dynamic support before confirming our next leg to the downside targets at 1.3100, 1.3075 and 1.300. Should price hold at this level we'd require a break of the downward trend and moving average crossover to confirm bullish advancements. There are multiple resistance barriers for price to break through in confluence here so while possible I can't see the upside as a likely scenario.
by INSIDEFX
GBPUSD: Washing & Rinse Bullish SetupLooking at the horizontal support levels (orange line) someone could easily say that price is breaking below current support and selling is our option. In my analysis this is a classic wash and rinse bar which is taking out stops hidden below previous lows before start climbing to the upside. Looking at the slope of price what we can say is that previous support (green sliding parallel) has stepped up - a sign that we do have a bullish context although it seems we are in a clear downtrend. In addition to that we do have an oversold RSI which signals a potential end of current downmove. This setup is one of my favourites and definately I am going long from current level with sl and tp as shown in the chart. In case it looks scary to you just wait for your favourite setup to complete at current level and buy GBPUSD.
Long
by Fxprotrader
6
Horizontal line near 1.32000 works?It seems that it responded to a horizontal line near 1.32000(In my chart,1.32108). The movement is similar to eurusd, but will it respond cleanly? 1) The horizontal line functions as a resistance I choose short aim to before.MPP 1.30760 2) The horizontal line does not function as a resistance I want to consider the long if it goes above the horizontal line and functions as a support, but since it is a phase where the trend seems to be going down, let's observe carefully. ------------------------- -------------------------- Brown thick line: Yearly Pivot Points (YPP in the text) Light blue thick line: Monthly Pivot Points (MPP in the text) Green thin line: Weekly Pivot Points (WePP in the text) Indigo thickLine: Horizontal line or Trend line seen by weekly or monthly Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily Indigo dotted line: outstanding double zero Red curve: EMA 20 close Indigo curve: EMA 200 close Green curve: EMA 800 close Black curve: EMA 1600 close x mark: Line which may not function ------------------------- --------------------------
Short
by fondiea
GBP / USD - Sell traps for Cable - SHORT Over the next few day's we have various reports coming out for this pair, and we have the Brexit negotiations going on which, will almost certainly have a negative impact on Sterling. Interestingly, both economies are performing well when viewed through the prism of reporting metrics but compared with the US$, Sterling is still going to be the underdog, but while the DXY is moving sideways gathering strength to break 94, the Pound may pull ahead for a short while, falling into our sell traps, unless of course Tues 5th US PMI's come up strong, in which case we could be going straight to the Profit zone. We're currently rising on the weekly trend line and we have two sell traps above to be a Bear on this pair. The first and I think primary sell zone is just above 1.35 and below the 200 days EMA and a previous Point of Control, there will be a great deal of resistance at this zone unless various metrics are sufficient to blast straight through to sell zone number two, between 1.36 - 1.37.
Short
by CBMotivation
18