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Britishpound

GBPNZD The massive sell-off can extend below 2.000The GBPNZD pair is on a massive 6-week sell-off that has broken below June's and July's Low. The 1W RSI turned bearish below 45.00 and the next line of Support is the 1D MA50 (blue trend-line). In the past 5 years, every sharp sell-off on GBPNZD has been at least -9%. A potential new such decline gives us a target estimate just below Support 1 (1.97550). That is the target that we will pursue but if the 1W RSI hits the 34.00 Support earlier, we will close it on the market price regardless. The next bounce should hit at least the 0.5 Fibonacci retracement level but that can be calculated after the bottom is formed. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
GBPUSD Two buy entries. Keep a tight SL.GBPUSD has almost touched the Fibonacci 0.382 level from the bottom 1 year ago, trading under both the MA50 and MA200 (1d). The RSI (1d) is rebounding today aggressively being still inside very rare oversold levels, which visited last time during September 26th 2022. This justifies a long term buy but if the 0.382 breaks, the next (and strongest) Support Zone is over Fib 0.5. Trading Plan: 1. Buy on the current market price. 2. Buy on 1.1850 (Support Zone 1). Targets: 1. 1.2700 (+5.09%, the minimum range for 2023). 2. 1.2350 (again +5.09%). Tips: 1. If we assume that the large pattern is a Channel Up, then its Higher Lows trendline falls around Fibonacci 0.5 and Support Zone (1). That enhances considerably the probabilities of this being a mega bottom. Please like, follow and comment!!
Long
by TradingBrokersView
1
GBPJPY: Small rebound expected to be a perfect sell entry.GBPJPY got flatly rejected on our last idea as it peaked on the HH trendline and crossed under the 1D MA50 (chart at the bottom of the analysis). Even the Channel Up broke downwards and the 1D technical outlook is bearish (RSI = 38.762, MACD = -0.520, ADX = 38.784) officially. A new Channel Down has emerged, which shifted the 4H MA50 to a Resistance after the September 6th breakdown. Our trading approach includes waiting for the next 4H MA50 contact, sell it and target a new LL. As you see the 2.0 and 3.0 Fibonacci extensions almost match the S1 and S2 levels respectively. Our targets are formulates accordingly (TP1 = 180.400, TP2 = 177.000). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
1
GBPAUD Most optimal buy here but bearish if broken.The GBPAUD pair has broken below the first Channel Up (dotted lines) and in extension the 1D MA100 (green trend-line). Currently it is testing the bottom of the second (and final) Channel Up (blue). Technically that is the most optimal level to buy for the medium-term and target 1.997800 (Resistance 1). On top of that, the 1D RSI bounced back after becoming oversold below 30.00, the lowest it has been since September 26 2022, which was the absolute market bottom. If the price breaks below Support 1 (1.885250) we will have confirmation of a potential long-term bearish reversal. Then the ideal level to enter will be following a rebound on the 1D MA200 (orange trend-line) and a clear rejection near the 1D MA50 (blue trend-line) as we will have confirmation that it has become a Resistance and the market sells long-term. In that case our target will be 1.75000 (towards Support 3). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
2
HelenP. I British Pound can continue grow to resistance levelHi folks today I'm prepared for you British Pound analytics. A few time ago price rebounded from the 1.2450 resistance level, which coincided with the resistance zone and entered to downward channel, where GBP started to decline. Inside the channel, the price broke the 1.2450 level, and some time traded below, but soon it continued to fall and in a short time declined to support line of the downward channel, which coincided with the 1.2235 current resistance level. The British Pound a few time traded near this level, but recently price broke it and declined to support line of channel again. Also a not long time ago it rebounded from the support line and now I think that GBP can continue to rise to a resistance level and try to break it. After the breakout, the British Pound can make a retest and then rebound up to the resistance line of the downward channel. For this case, I set two targets, the first target at the 1.2235 resistance level and the second - at the 1.2310 level, which coincides with the resistance line of the channel. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
12
EURGBP - Price can make retest support level and continue riseHi guys, this is my overview for EURGBP, feel free to check it and write your feedback in comments👊 When price bounced from $0.8555 support level, which coincided with support area, it rose a little higher, but soon fell below. After this movement, British Pound made strong upward impulse to next support level, breaking $0.8555 level and entering to falling channel. Inside channel price a few time later fell below $0.8555 level to support line, but then it bounced up to resistance line. Also recently, British Pound exited from falling channel and soon rose higher than $0.8675 level, breaking it. At the moment price trades in resistance area and I think British Pound can make retest of support level. Then price can bounce from this level and continue to move up to $0.8750 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
1
GBPJPY Turning bearish until the end of the yearThe GBPJPY pair crossed under the MA50 (1d) again and is approaching the MA100 (1d). We have a Rising Resistance peak pattern, which is very much like that of May 2021. In fact the whole fractal since its begining (2021) is very similar to today's (since 2023). This most likely turns the pair bearish inside a Megaphone for the remainder of the year. Trading Plan: 1. Sell every rise to the top (dashed line) of the Megaphone. Targets: 1. Lower Lows until the price hits the MA200 (1d). Tips: 1. The RSI (1d) also shows high symmetry between the fractals. It peaked on the first Higher High of the Rising Resistance, breached the MA50 (1d) when the RSI was near 40.00 and made the second Higher High (and peak) around the 70.00 mark. Please like, follow and comment!! Notes: Past trading plan:
Short
by TradingBrokersView
1
EURGBP: Approaching the 1D MA200. Strong Resistance Band.EURGBP is on a strongly bullish 1D technical outlook (RSI = 67.813, MACD = 0.002, ADX = 32.512) as it is rising on HL since the 0.84950 bottom. The 1D MA50 has been turned into Support but the price is now approaching the first important Resistance levels for the long term, R1 (0.87025) and more importantly the 1D MA200. If it achieves a candle close above, we will go long and target R2 and the 0.786 Fibonacci level (TP = 0.88750). If rejected on the 1D MA200, we will go short and target the 1D MA50 - HL zone (TP = 0.86200). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
British Pound Plunges as Bank of England Holds Interest RatesI bring today is far from uplifting. As you may already be aware, the British Pound (GBP) has taken a significant hit in the wake of the recent decision by the Bank of England (BoE) to hold interest rates steady. This unforeseen turn of events has left many traders like yourself feeling disheartened and uncertain about the future of GBP. The BoE's decision to maintain interest rates has sent shockwaves throughout the financial markets, triggering a substantial decline in the value of the British Pound. This unfortunate turn of events has left the currency vulnerable and exposed to further downside risks. While it is indeed disheartening to witness such a decline, it is crucial for us to adapt and seize opportunities even in the face of adversity. Given the current state of affairs, I would like to encourage you to consider taking advantage of the situation by exploring short positions on GBP. The downward trajectory of the British Pound may present an opportunity for you to potentially profit from this unfortunate turn of events. However, please remember that trading involves risks, and it is essential to conduct thorough analysis and consider your risk tolerance before making any investment decisions. In times like these, it is crucial for traders like yourself to stay informed and adapt to the ever-changing market conditions. Monitoring economic indicators, central bank decisions, and geopolitical developments will be key in navigating the turbulent waters of the foreign exchange market. If you require any further information or assistance regarding shorting GBP or any other trading-related queries, please don't hesitate to comment below. We are here to support you and provide you with the necessary guidance to make informed trading decisions during these challenging times. Remember, even in the face of adversity, the trading world remains full of opportunities. By staying informed, adapting your strategies, and seeking professional advice, you can navigate these uncertain waters and potentially turn this unfortunate situation to your advantage.
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by bryandowningqln
15
EURGBP, Ascending-Wedge, Bearish Breakout Imminent!Hello, Welcome to this analysis about EURGBP and the 4-hour timeframe perspectives. EURGBP in recent times is forming some interesting developments especially with the main formation I discovered here this can lead to increased volatility in the upcoming times. Therefore, when looking at my chart we can watch there how EURGBP has formed this massive ascending-wedge-formation, such a formation is normally known to show up with a bearish reversal to the downside. Because EURGBP already completed the ABC-wave-count within the formation a completion of the whole formation bearishly to the downside gets more likely or also EURGBP will firstly continue in the ascending-wedge with the wave-count and the development of a wave D as well as a wave E in the structure which will not be bad because this will just increase the potential for an increased bearish breakout to the downside that accelerates further. In all these cases the crucial confirmation will happen when EURGBP finally breaks out below the lower boundary of this whole formation, this will complete the formation and will be the origin for the bearish continuations. In this case, EURGBP will also activate the target-zone marked in blue within the 0.8444 level, when this zone has been reached the situation needs to be elevated anew and EURGBP has to show how it continues there, if the bearishness is heavily increased this can also just lead to a bearish continuation-setup once the zone has been reached. In this manner, thank you for watching the analysis, it will be great when you support it with a like, follow and comment for more upcoming market analysis, all the best! "The high destiny of the market is to explicate, rather than to speculate." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
1
HelenP. I British Pound can make correction and then rebound upHi folks today I'm prepared for you British Pound analytics. Some days ago price declined to the support zone, which coincided with the 0.8560 support level, and traded there some time. But later, the price declined more to the trend line, where it rebounded and started to rise close to this line. British Pound rose to the resistance level, which coincided with the resistance zone, thereby breaking the support level again, and when it made a fake breakout of 0.8615 resistance level, the price at once rebounded and made a correction to the trend line and even declined lower, breaking this line. After this moment, the price made impulse up to the resistance level, but a not long time ago it rolled down to the trend line and broke it again. now probably British Pound can probably decline a little more and then rise to a resistance level and try to break it. After breaks, the price can continue to move up, therefore I set my target at the 0.8635 level. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
6
British Pound can continue to decline in downward channelHello traders, I want share with you my opinion about British Pound. By observing the chart, we can see that the price not long time ago entered to range, in which it declined to the 1.2675 resistance level, which coincides with the seller zone. But at once, the price rebounded up to the top part of the range and then started to decline, and in a short time, the British Pound declined to a lower 1.2675 level, thereby breaking it and also exiting from the range. After this movement, the price tried to back up, but when it rose higher of the 1.2675 resistance level, it entered to downward channel, where the British Pound went back below and even continued to fall to the next level. When the price fell to the current resistance level, which coincides with the resistance zone and support line of the channel, it at once rebounded and rose to the resistance line, but recently British Pound bounced from this line and declined below 1.2445 level, thereby breaking it and also price made retest. Now I think that the British Pound can make a little movement up and then continue to fall to support line of a downward channel. That's why I set my target at the 1.2265 level. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
3
EURGBP Target 1 achieved. Sell again.The EURGBP pair gave us a solid sell signal (1D RSI breaking the Higher Lows) on our last call (August 03) and has already hit our first target (see chart below): The pattern remains a Channel Down since the February 03 High, maintaining the bearish trend unless the 1D MA200 (orange trend-line) breaks. It is also possible to see a transition to a Rectangle (Resistance 1 and 1D MA200 the top). Until the Channel Down breaks though, we are opening a 2nd sell on the current market price. The target remains 0.84100 (Support 2). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
1
British Pound can bounce down to 0.8530 support levelHello traders, I want share with you my opinion about British Pound. Observing the chart, we can see that the price a not long time ago bounced from the 0.8590 resistance level, which coincided with the seller zone and rose to 0.8650 points but soon fell back. At there moment resistance level coincided with the support line and the British Pound rolled up to the resistance line. After this movement, the price started to decline and in a short time British Pound fell two levels lower, thereby breaking their. But when the price reached the buyer zone, it rebounded up, broke the resistance line, and later declined below this zone. Later price rose back and even entered to range, in which the British Pound made a fake breakout of 0.8590 resistance level, after which the price declined to 0.8530 support level. As well recently, the price tried to rise back, but failed and at the moment trades below the resistance level. In my mind, the British Pound can rise to a resistance level again, and then continue to decline. For this reason, I set up my target at the 0.8530 support level. which is located in range. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
7
GBPUSD - Price can break resistance line and continue to riseHi guys, this is my overview for British Pound, feel free to check it and write your feedback in comments👊 After price bounced down from $1.2700 resistance level, which coincided with resistance area, it at once tried to back up. When price reached $1.2700 level again, it bounced again and continued to decline until to $1.2550 level. This level coincided with support line of wedge and resistance area, also then British Pound bounced and started to rise. Price rose higher of $1.2700 level, but at once made downward impulse below this and $1.2550 levels, thereby breaking theirs. At the moment price trades very close to resistance line of wedge and I think that British Pound can make small movement down. Also then, price can bounce up to $1.2550 resistance level, exiting from wedge. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
7