Tradcave

Tradcave

As I previously mentioned in my weekly analysis, GBP/USD is currently heading up to our next resistance. This daily analysis shows that the price is currently in an ascending channel and right now there might be a slight correction to be made before the price continues up. *This is just an analysis on the pair and not a signal for anyone to entry Cheers guys!

Tradcave

On the weekly timeframe, we can see that the price is now above our last resistance level (R1) and it is going to the direction of our next resistance level (R2) at 1.4000. Otherwise, we could see the price heading down to our last support level (S2). This is a long term idea just to show where the market is currently headed, not for entry confirmation. Cheers guys!

Tradcave

We can see from several wicks I highlighted that the big banks and institution have been hunting our stop losses so that we are out of the market, then boom! prices start to go way up. Current price shows a possible hammer (with a long wick under) which might indicate the price to go higher. There is a link below explaining why the price might go higher and...

Tradcave

From our daily perspective, we can see that either the price will go down from the area of supply (resistance level) or continues upwards to our next resistance of 1.4300. So far this pair has been really interesting for me to analyse, how about you guys? Cheers!

Tradcave

As we can see from our daily perspective, the price has hit the strong area of supply (resistance level) and there is where the sellers will start to come in. We could see a slight continuation upwards for the meantime but after the last bar closes, we are hoping to see a rejection downwards. Cheers guys

Tradcave

As in 1 H timeframe, there is a clear head and shoulder pattern formed, the price has also gone through the support line of 1.331. The 4 H timeframe also shows the same movement. Next support level might reach 1.3200 or 1.3150

Tradcave

There is a clear head and shoulder pattern shown and the price on the 1 H and 4 H timeframes are currently moving downwards. I'm waiting for the closing of the 4H timeframe to see the price action further. There is also a strong support level of 1.331, and if the price continues to break through it, I'll probably go short. *This is my first analysis, please...