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British Pound / U.S Dollar 4hr gbp/usdtarget 1.19 bullish case, we are in down trend, although falling wedges tend to break to the upside 68% of the time. looking for a bounce of the trend line, hit resistance, then test, slight downside before a break of resistance to 1.19. could take couple weeks to play out, Day's Range 1.1602 - 1.1694 52 Week Range 1.1602 - 1.3913 Ask 1.1648 long term we could see alot of downside for gbp as dire forecast from Citigroup, which expects UK inflation to reach 18.6% next year for the first time since 1976 as energy prices rocket amid the cost of living crisis.
Long
by TechnicallyBullish
NZDCAD SELL TARGET 0.87000Good afternoon from the UK, well what do we have here? the last time i Traded this pair was around the 1st May looking for the decline to 0.8700 (Please see the related idea). Here we go again. What i can see is my weekly key level no longer acting as a floor support which broke through but now a ceiling resistance with long wicks rejecting the 0.8900 price rejoin. On the daily timeframe price has test the golden ration 61.80% fib retracement. with multiple shooting stars. If you were to step down to the 8H & 4H timeframes moving averages are corresponding well with the intent of this pair seeing another tumble to create that double bottom at 0.8700. The counter trend line is due to break on its third touch which if it does the retest will come and the decline continuation continues. This is my Trade of the week.
Short
by Travis_duncz