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
Pounddollar
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.
EngulfedPound downtrend had been engulfed by a bullish one in the support zone. Wait for a confirmation and CPI data for British coming out soon.
HIT IT HARD!
Charts never lie.
*This is my only opinion. Trade at your own risk. The trade you gain or loss is not my responsibility.*
GBPUSD BULLISH OUTLOOKFX:GBPUSD
We see Price has just created an impulsive move to the upside which signals the involvement of smart money. Price is presently trading in a range from a supply zone which indicates resting sell-side liquidity at the inception of the bullish impulse into the area of supply.
I want to see price take out resting SSL and give a tap into the 4H demand zone.
I'll watch out for more bullish continuation at this zone.
Buy GU dip? GU has been down trending in the last 2 weeks, looking for a trend reversal confirmation.
Forex analysis looking at the GBPUSD 1.30 the bottom?I am looking at the GBPUSD on a daily chart. It looks a lot better after holding 1.30 support levels and then the breakout.
I would like to see a nice break above 1.32 resistance and go from there to really determine if the pound is really ready to turn thing around. Next would be 1.34.
We can look back in the past and see levels of support are now resistance and also the lower highs and lower lows confirming the downtrend.
I do not trade forex much these days but I still look at the major fx pairs daily just to see what's going on.
Edit. In my pink bubble I wrote .132 but of course it is 1.32
Take pounds by ouncesDoes this trade look like something you'd want to buy into? "No" is always an acceptable answer, but if you (as we) think GBP/USD is ready to revert to the mean, why not step in gently, a few contracts at a time, rather than all at once.
GBPUSD 27.02.2022Looking to short GU from 1.35000 zone
Confluences:
- GU was ranging without any signs of momentum. Last week, a breakout of the range occurred after a massive push to the downside
- Broke below 1.35000 support region without retest.
- Retest level (1.35000) which is currently the support-turned-resistance level falls inline with the 61.8% fib reversal levels.
A potential push to higher fib extensions may occur, will look for signs of rejections once market reaches the sell zone
GU long scenarioGU has been bullish so far this week seeing a short correction to a major psychological level yesterday, we are likely to see it go bullish if we see a break and retest above structure, if not we may consider going short if we see STRONG resistance around structure
GBPUSD 01/02/2022Looking to short GU from 1.35000
8H Timeframe Confluences:
- Bearish market structure, only looking to short the market
- Timeframe is making LLs and LHs
- Possible 3rd bounce on the trendline coincides with weekly key level, further supporting a possible short
Waiting for price action to indicate that a short trade is in play. If price action indicates reversal, a short to 1.33090 to create a new LL will be taken.
