


In case if the level will be broken, the price will continue to at least 0.7175 Personally I do not trade breakouts, but still, Sell stop at 0.7252, in case if no profit within 30 min. - close position (timing stop loss) SL>0.731
The target of the current move is 1.0872 It does make a sense to trade it. To enter, wait for a short corrections (up to 50%) on a 15-5 M charts. Use a short SL's be careful of 1.09, price can bounce of there.
At the moment the price is going through it's important levels, and bearish continuation is possible, however, as we're all disciplined traders, trying to catch a falling knife - is not a very good idea. Those who missed yesterday's move and beginning of the week, IMHO better wait for retracement and enter on correction.
The price is still in it's bearish trend. 0.7290 - 0.7300 Area must be taken as a key level for down move continuation, breaking through this level will give us a confirmation of a bear trend continuation. 0.732-0.733 - Sell limit area, the price is likely to bounce of the level at the bear's favour. In case if the level will be broken (Thursday) a deeper...
Short term Levels Before the FOMC, levels and patterns to consider. Details on the chart
Downward continuation is highly possible, However due to a FOMC today - anything can happen, or nothing will, I personally have a "sit "quiet" " position today. However, for those - trading bkouts - 0.67376 is a Buy stop with SL 25 pips and Target 0.685 If You've missed short entry - nothing to worry about, there will be another entry.
Target 0.659 SL> 0.664 I personally will not try to sell before 0.662 is reached. If L order will not work, will watch the PA at the area.
Price action confirmation is needed, then with SL>0.666 enter short (I will try) Target (due to current market conditions) 0.66
A price has tested 0.732 level, the PA at the moment is showing a confirmation, but end of hour is needed to close beyond prev. hr close at least. I will do: Sell limit at at 0.73 TP 0.726 (1st) SL>0.736 critical SL>0.732 if closing above Timing SL - 1hr
We have to wait for a reversal confirmation to go short from here.
Rough Analysis of GBPUSD for the 1st part of the week ahead week ahead (27.07.2015 - 31.07.2015) 1W Direction Down 1D Direction Down (a pause at the support level) Currently at the support level. if the price will close above support, it will be a signal to buy A spinning bottom at the support trend-line Tactics: Intraday - try to buy W:D - look for a sell...
Rough Analysis of for the 1st part of the week ahead week ahead (27.07.2015 - 31.07.2015) 1W Direction Strong UP 1D Direction Friday closed beyond the Thursday's high - possible down continuation is possible Currently at 23.6% Of the current swing (end of which has not been confirmed yet) Did have a possible 1/1 reversal tale on Thursday, but has not been...
In case of a 97.15 level breakout, Price will possibly lead to 100 area.
Monday has opened with a Breakaway gap, which also has to be confirmed by today's close. It gives a signs that the deeper correction is not going to happen. It is safer to look for a buying opportunities tomorrow on the intra day chart, in case if breakaway Gap will not be closed, confirmed in other words.
In case if somehow, the D Index will continue it's North movement, as it is possible from a technical point of view. Here are the major levels to watch for, details on the chart.
Details at the chart