SHORT GBPUSDSwing trade: GBPUSD was down trending for several weeks, after Boris Johnson left office, pound gained some strength but it was very short term move, now FED is expected to hike interest rates 75bps at least.
Pounddollar
GBPUSD FORECAST(1) Bearish trend for a long period of time.
(2) Expected to rebound at the area given (refer chart). And continue slightly to drop.
(3) DXY projected on rallies inline with interest hikes until the inflation rate 'enough' for cooling down U.S economy.
GBP will either triple bottom or fall out of the sky - WeeklyChtLooking at long term trends for GBP-USD we are coming to a level that is almost underheard of in forex GBP being low to the dollar.
Right now looking at the weekly unless something happens we see a continuation to 1.165xx range from there it could be anyone's game.
We expect a lot of volatility around this number and range In fact if you draw a box from the top to the bottom there is a lot of wiggle room for trades but they will be volatile.
Trade carefully but watch this 1.65xxx level as a large support.
SELL POUND WEAKNESSNext Wednesday we will get UK's GDP data, it is expected to be negative as recession fear soars.
Boris Johnson will likely continue to serve till October which not bullish for Sterling.
A good entry point for a sell position would be 1.218 for a TP of 1.19
GBP USD pound dollar camarilla monthlychart says it. above L3 look for move to H3. below L4 look for drop to L5.
GBPUSD SHORT ANALYSISAs price is in a downward trend, lets just wait for the price for a little pull back before making a big move downwards. simple enjoy the trend
gbpusd sellAs pound is in a sell trend, so we will simply follow the trend, but keep in mind it has to change its trend now. so just try to follow the trade. take some pips as told. and wait for a buy entry.
GBPUSD – Bear Pennant Puts Negative Bias on PricesGBP/USD forms a Bear Pennant, putting prices at risk of resuming the former downward trend from mid-June (flag pole). A break below support puts the May and June lows in danger, with further losses possible.
GBPUSD LONGTechnically GBP looks ready to revisit 1.2500
Dollar is likely to weaken for a while
That offers rooms for GBP to advance
1.21 should offer support
Drop below 1.21 is an invalidation of the setup
GBP/USD SUPER BULL!GBP/USD (Great British pound VS Us Dollar)
In a weekly chart, We can clearly see the ending diagonal (falling wedge) on the chart and now it's time for a reversal. When the ending diagonal form after then We will see a sharp reversal to the opposite side. Most probably we will break the $1.4 area in some weeks or months.
DISCLOSURE - Please be informed that the information I provide is not a trading recommendation or investment advice. All of my work is for educational purposes only. All labeling and wave count have been done by me manually and I will keep changing according to the LIVE MARKET PRICE ACTION. So don't bias, hope on my trade plans. Try to learn Elliott Wave or other strategies and make your own strategy. Following is not that much easy. I am not responsible for any losses if u took the trade according to my trade plans.
#GBP/USD #gbp/usd #GBPUSD #poundvsdollar #elliottwave
POUND -DOLLAR SHORTS [GBPUSD]We see Price break a level of support and form a new low. The level that got broken has a probability of acting as a level of resistance.
SUPPORT TURNS RESISTANCE.
TIP: Use Conviction
POUND-More bull might be 2 much!!Hi everyone
We all red the news from the federal reserve,well considering that many might think we can reach higher for GBPUSD. Well news always have a huge impact, but traders might have more.
In 4 hours chart we have a bull wedge pattern and in case of breaking out of the trend line, the trend might go side way or bearish( more likely). Now we have a lower high which might be a good indication for many traders to take short right here.
Support factors are bull trend line and level of 1.26$, and for resistance we have the prior high and 1.265$(might get a 2 bar reversal here)
Hope this analysis helps you in a way.
I will answer your questions,Just leave a comment below and PRESS THE LIKE BOTTOM please.
GBP/USD -27/5/2022-• After breaking down from the yearly descending channel, which was a signal of a strong momentum down, the Pound has been rallying for a while
• The pair is trading inside a rising wedge, a reversal bearish pattern
• Buyers tested the lower trend line of the channel, which is a typical move after a breakdown and apparently they gave up
• Looks like today is going to be a doji candle, which signals exhaustion of the buyers
• Breakdown from the rising wedge is likely in the coming days/weeks supported but the uncertainty around the world + disappointment from the BOE with regards to the future rate hikes
• A successful breakdown targets the support levels highlighted on the charts: 1.24, 1.233 and 1.2160 respectively
GBP/USD - ShortFinal trade of the day!
News coming in at 3.30pm see if we can get back to daily open.
POUND- Higher by the end of the weekHello everyone
As USD loses it's value over the news from federal reserve,better prices for the pairs with this currencies can be seen allover the market.
For now, over the possibility of the exhaustion of the trend, we may have couple of RED bars in the way of our Bull trend, but since we have an OIO pattern( outside,inside,outside)it's more likely to have the market keep going up.
the resistance levels in the way are 1.25$ & 1.26$ (1.25$ will break IF the trend continues) and our support level is 1.23$.
GBPUSD 15/05/2022Looking to short GU from 1.23000. Possible third touch of descending trendline
Confluences:
- Bearish market structure as LLs and LHs are being printed.
- Broke below 1.23000 support region without retest.
- Retest level (1.23000) which is currently the support-turned-resistance level falls inline with the 61.8% fib reversal level + third tap of the descending trendline
TP 1: 1.21900
TP 2: 1.20950
POUND- A good context for reversalHello everyone
As you can see after a good rally, now we have a divergence on our chart and a possible double bottom pattern. This obviusly does not need my explanation at all.
For now, we have the support line of 1.23$ and the resistance level of 1.25$ which the price might see by the end of the week. Keep this in mind, never try to find tops and bottoms of a market IF you don't have a good tested stratgy for this type of situations.
GBP IS WEAK!!!!The Pound is weak.
The DXY is rising and the fundamentals are overall strong for this month.
This is a great set up.
Once price breaks that bottom structure: .... strap up and enjoy the trip down south!
Never over leverage.
Trust your set up.
Have Fun!
GBPUSD- Short into a long trade.GBPUSD:
We have seen the DXY fly to its weekly highs over the past few months. In my opinion we will start seeing resistance play out on the DXY; which indicates we will see a bearish dollar; implying GU will turn bullish.
As you can see on the chart, I have labelled the blue boxes (4hr areas). From my analysis I can see GU falling towards 1.24500. From that point I will be looking for long positions back up.
Reasoning for bullish movement:
The daily has closed as a bullish engulfing, moreover has rejected the weekly 61.8% fib level. On the 1 hour timeframe we have also broken market structure; plus the DXY looks bearish.
If we get the short move back towards 1.24500, price action would have formed an inverse head and shoulder formation; which is an additional bullish confluence.
Hope everyone has a great weekend, remember NFP (non farm payroll) is this friday, so markets may be very unpredictable.
Thanks.
GBPUSD TO 1.3 BEFORE ANOTHER DROP?GBPUSD broke below 1.3 because of the UK PMI negative news, now looking for a potential pullback at 1.3 to short cable down to 1.27
Next week will be very volatile as thethe four largest U.S. companies by market capitalization: $AAPL, $MSFT, $AMZN & $GOOGL will report Q1 earnings! and this is something you don't wanna miss out if you are interested to trade this setup.
You can see here the trend of both DXY & BXY , DXY is clearly trending up against the BXY.
Buying opportunity for GBPAs it is clear from the photo GBPUSD has made previous highs of 1.314 and then retest the previous lows, The pair has again been trying to gain bullish momentum. 1.3 could be a great buying opportunity for the pound against dollar.
GBPUSD: The most dangerous trade I have ever had. No rush in it. DANGER . Make your own RR analysis before entering a trade. Be also prepared for a rush and unexpectedly drop till 1.0-1.12. The most dangerous trade I have ever had. Not for new traders or those who are not tolerate huge risk.
