GBPUSD fell down to the H4 chart channel support.
Looking for a signal to either buy or sell as we see at this point the instrument is consolidating at that area.
We would be looking to buy if price reaches above 1.2975; In this case we go long on the pull back to aim the top of the channel;
If channel bottom is broken convincingly, then we will look for a...
The instrument has created a triangle due to the formation of lower highs and higher lows on H4 chart.
The price is currently trading in the middle of the structure at around 0.8890
A break on either side will give us a signal for further direction.
Keep in mind, D1 range was broken from the resistance and price is currently lurking at that area;
A break above...
On the H4 chart we can see that the space is squeezing the instrument even more. EMA showing mixed dynamics and confirming the range.
This is expected to continue till Tuesday when EURO GDP(Preliminar) comes out, which would push the instrument in either direction depending on the figures. Additionally, FED's Monetary Policy Statement coming out on Wednesday, and...
Gartley formed just below the bearish channel resistance.
TP1 (symmetry of BC) was just hit and the instrument is now consolidating slightly above.
Next target TP2 awaits at $375.00 - the 1.27 Fibo extension of AD
Short positions may be opened now with SL at $500.00; TP at $375.00.
Once TP is hit, close half of the position and trail your SL to try to hit the...
