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Britishpound

GBPUSD Strongest buy signal since March.It has been almost 2 months since we last looked into the GBPUSD pair (see chart below), taking as sell position after the price was rejected on the Channel Up pattern's top: That Channel Up broke downwards, and the last such pattern to remain valid is the one shown on the current chart. The price is below the 1D MA100 (green trend-line) and today hit the bottom (Higher Lows trend-line) of the pattern. That is the exact pattern we saw on the March 08 bottom. The 1D MA50 (blue trend-line) is the short-term Resistance, which if broken, confirms the long-term bullish leg to a new Higher High. Right now this is a buy signal, targeting at least 1.3300 (below Resistance 2) on the long-term. However, if a 1D candle closes below the Channel's bottom, you can also take a short-term sell position, targeting the 1D MA200 (orange trend-line) at 1.2450. ------------------------------------------------------------------------------- ** 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
6
HelenP. I British Pound can decline to support line of channelHi folks today I'm prepared for you British Pound analytics. A few time ago price rebounded from resistance 2, which coincided with the resistance zone, and rose to 1.3145 points. But then the price rolled down and entered to downward channel, in which the British Pound declined below the 1.3000 resistance level, thereby breaking it. Also then price tried to rise, but after it reached resistance 2, it rebounded and fell to resistance 1, which coincided with the support zone. Next, the price bounced up and reached the resistance line of the channel, but a not long time ago it rebounded and declined to the support zone, breaking the 1.2620 resistance level. At the moment, the British Pound continues to trades in this zone and I expect that the price can reach resistance 1 and then rebound and start to decline to support line of the channel. For this reason, I set up two targets, the first target at the 1.2500 and the second - at the 1.2370 levels. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
12
GBPNZD Starting to turn into a buy again.The GBPNZD pair has been trading within a Channel Up pattern since the start of the year and 10 days ago started its technical correction after the new Higher High. The price hit the middle of the pattern and as the 1D RSI touched its Higher Lows trend-line, the conditions for the new buy emerge again. We are placing the first buy of this sequence now and if the price drops more we will enter a second (and final) on the 1D MA50 (blue trend-line) potentially at 2.1000. For both positions, the target is 2.18000. ------------------------------------------------------------------------------- ** 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
GBP/EURO~Maximizing Your Euro HoldingsGBP/EURO – Maximising Your Euro Holdings This chart could be used for perpetual swaps or could be of value to those looking to maximise their Euro holdings by positioning them temporarily into Great British Pounds. The RSI and Parallel channel have been brilliant indicators of when to long and short the Great British Pound ("GBP") in Euro. The 200 week SMA also is of added benefit as it appears to act as a sturdy resistance level mid trend. In other words, exiting the trade when we approach it from a long or short perspective is an additional tactic to secure profits and avoid the risk of how it repels the approaching price action. As a EURO holder or someone with high reserves in EURO, technically you could have an open position to buy GBP at €1.0864 or a little lower and have a tight stop in place at €1.0507. You could gauge this stop to your risk tolerance and your entry (in the green zone). The likelihood of a bounce from these lower green levels is historically high and you would have a reasonable trade with a defined stop so you never have too much pain. If the trade plays out and you have banked 10% in a full move you can sell your GBP for approx. €1.20 locking in a liquid tax free 10-11% profit (which you originally bought for €1.0864 per GBP). Historic Buy and Sell Zone Returns (To Increase EURO holdings) o BUY GBP in Oct 2016 at €1.08 and SELL at €1.20 in Dec 2016 (11% Euro Increase over 3 months) o BUY GBP in Aug 2017 at €1.08 at any stage over next 100 months (2 - 7 % Euro Increase over o those 100 months). If you sold before reaching the 200 week moving average you would have nailed this trade with min 7% profit. o BUY GBP in Aug 2019 at €1.08 and SELL in Dec 2019 at €1.20 in Dec 2019 (11% Euro Increase over 5 months). o BUY GBP in Mar 2020 at €1.08 and SELL in Dec 2019 at €1.13 in Apr 2020 (5% Euro Increase over 1 months). Again selling before reaching 200 week moving average resistance would have been a great tactic. Obviously for those wanting to increase their GBP they can inverse this concept and contra trade these moves. If anyone would like a similar chart for positioning in EURO to increase GBP, please ask in the comments. What’s interesting is that historically the months of Aug – Oct are good buy opportunities for people wanting to increase their EURO holdings via GBP positioning. Whilst we are in that time frame at the minute, our RSI is not providing us with a definitive signal and as we are closer to the upper Sell Zone there does not appear to a reasonable trade at present using this strategy. Going forward we can press play on this chart on trading view and see where price has moved and if an opportunity presents itself. I will keep you posted on if we move into the red or green. PUKA
by PukaCharts
6BV3On the backside of the short we can ape in for the bounce off the bottom, would not recommend futures as the open interest on the contracts will be low, options is how to play this. Safe side is sell the put (don't advise selling naked unless you can manage the trade at all hours) or a credit spread to hedge any risk. This will provide ample time to collect the premium through any volatile price actions. I will be buying the call (naked) this is a much riskier trade and the "WIN HERE" line is meant for me not sellers of the premium. Disclaimer I took the trade out yesterday but still feel there is room to publish the idea. This is why I recommend selling the premium rather than buying the call.
CME:6BV2023Long
by kewlkat
EURGBP - Price can bounce of support line of channel to $0.8630Hi guys, this is my overview for EURGBP, feel free to check it and write your feedback in comments👊 Recently price declined to support line of triangle, but at once bounced up to resistance line. After price reached resistance line, breaking $0.8650 level, which coincided with resistance area, it started to decline. Price declined to support line and soon made strong upward impulse higher $0.8650 resistance level. Also, EURGBP made fake breakout of resistance line with level and then fell below $0.8550 level. Next, price started to grow in rising channel, where it rose higher of $0.8550 level, which coincided with support area. Now price continues to trades in channel and I think British Pound can bounce from support line to $0.8630 resistance line of rising channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
5
GBPAUD Buy opportunity emergingThe GBPAUD pair hit our previous Buy Target as presented (see chart below) last month: The price has now been pulling back within the 7-month Channel Up in search of the next Higher Low. This should be formed at least on the 1D MA50 (blue trend-line) as it did twice before. As a result, we will wait for that buy opportunity and target 2.01500 (1.236 Fibonacci extension). ------------------------------------------------------------------------------- ** 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
6
$GBDUSD Head And Shoulders Pattern$GBDUSD Head And Shoulders Pattern, The Head and Shoulders pattern is a well-known technical analysis pattern that typically indicates a reversal in a prevailing trend. It is characterized by three distinct peaks or troughs – a higher peak (head) flanked by two lower peaks (shoulders) on each side. This pattern is commonly observed after an uptrend and suggests a potential shift from bullish to bearish sentiment. The formation of the Head and Shoulders pattern consists of the following key components: 1. **Left Shoulder:** The initial peak in the pattern forms as the price moves higher, representing a continuation of the existing trend. 2. **Head:** The highest peak among the three, the head, forms as the price advances further. It signifies a last attempt by buyers to sustain the uptrend. At this point, bullish momentum weakens. 3. **Right Shoulder:** The third peak, similar to the left shoulder, is lower than the head. It indicates a struggle between buyers and sellers and often comes with decreased trading volume. The significance of the pattern lies in the neckline – a trendline drawn through the lows between the left shoulder and the head, and the head and the right shoulder. The neckline acts as a support level, and a breach of this level is seen as a confirmation of the pattern. Once the neckline is broken, the pattern is considered complete. Here's how traders often interpret the pattern: - **Confirmation:** A valid breakout below the neckline after the formation of the right shoulder signals a potential trend reversal. This is the point at which traders might consider opening short positions. - **Price Target:** The expected price decline after the breakout is roughly estimated by measuring the vertical distance from the head to the neckline. This measurement is then projected downward from the neckline breakout point. - **Volume Consideration:** Volume can play a crucial role in confirming the pattern. Typically, volume tends to decrease as the pattern forms and then increases when the neckline is broken, indicating strong selling pressure. - **Failed Patterns:** Not every Head and Shoulders pattern results in a reversal. Sometimes, the neckline is tested but not broken, leading to a continuation of the original trend. - **Inverted Head and Shoulders:** Conversely, an inverted version of this pattern can occur after a downtrend, indicating a potential bullish reversal. Traders often use additional indicators, such as momentum oscillators and volume analysis, to confirm the potential reversal signaled by the Head and Shoulders pattern. Like all technical patterns, it's important to remember that no pattern guarantees a particular outcome, and successful trading requires a combination of analysis, risk management, and adaptability to changing market conditions.
by AlgoTradeAlert
British Pound Futures 6BV3Disclaimer-Doing this mobile, it really sucks to be honest but here we go. British Pound October 2023 - Short Why V instead of U, concerns about the open interest on the September contracts on the CME. Open interest shirks about one month out, don’t get left holding the bag. For option traders, this does not affect your trade, your preference should be 6BU3 not 6BV3, futures is different. In the last 15 years has a probability of success of 66%. Not the greatest however this 66% is “targets achieved” so as long as it is managed and not “set and forget” you should get some profit out of it. My first target for assessment is at 1.25$ or about there (mobile) that is a .02->.03 draw down and then the king killer target is at 1.21 which is over the last 15yr the high end for profit (.07$) which also lines up with support levels. However just because it lines up doesn’t mean sh*t. Setups could include a calendar spread, back end contract best option would be March imo, or you can hedge the risk on the USD (DX! U3 or V3 on ICE or something)on a long dated or tight (close stops)6BV3 contract. Option dawgs Best case you buy the put and are in it for a short time bc extrinsic value on the option contract will increase so I would not leave it open til the 29th unlike a futures contract. Selling premium here instead is safer however you won’t make as much $ as a bought put. I may wait on the credit side until it recovers in Dec. Whether you’re running the option naked or as a debit spread it should be managed regularly. I cannot post external sites/info however reach out to me and I can provide further documentation. Hope this is readable…… “Where are the kids?” -kewlkat
CME:6BV2023Short
by kewlkat
British Pound can exit of range and continue move down to 1.2580Hello traders, I want share with you my opinion about British Pound. By observing the chart, we can see that the price a few moments ago declined inside the downward channel, in which it fell below the 1.2870 resistance level to support line of the channel. After this price rebounded from this line and made a strong upward impulse to 1.3000 point, thereby exiting from the downward channel, but at once started to decline and fell back to the resistance line. Next, the British Pound bounced up to the resistance level, which coincided with the seller zone, and soon rebounded down and entered to range. Inside range, the price fell to the 1.2655 support level, which coincided with the buyer zone, but soon bounced back and some time traded near this level. After the price fell to the bueyr zone again, it later rebounded and rose to the top part of the range, and a not long time ago British Pound rolled down of top part and fell back. But soon it rebounded from the buyer zone and at the moment British pound trades near the support level, and I think that the price can continue to move down to the support level and maybe the price can try to break it. After a breakout, the British Pound can make a retest and then continue to decline, thereby exiting from range. Therefore I set up my target at 1.2580. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
5
British Pound can break support level and fall to 0.8520Hello traders, I want share with you my opinion about British Pound. Observing the chart, we can see that the price some day ago bounced from the buyer zone, which coincide with the 0.8555 support level and reached the 0.8655 resistance level, but then it started to fall and entered to the downward channel. Inside the channel, EURGBP declined a lower 0.8555 support level to the support line of the triangle, and then it rebounded up to the resistance line, thereby breaking the 0.8655 resistance level, which coincides with the seller zone. But soon, the price bounced down and fell back to the support line, which coincided this moment with the buyer zone and 0.8555 support level. After this movement, the British pound rolled up to the resistance line, made a fake breakout of this line, and reached the 0.8655 resistance level. But a not long time ago price fell back to the support line and even broke it and now the British Pound trades near the 0.8555 support level. In my mind, EURGBP can decline to support level and try to break it. If the price breaks this level, it can make retest and continue to fall. For this reason, I set up my target at 0.8520. Please share this idea with your friends and click Boost 🚀
Short
by LegionQ8
2
GBPUSD - Price can bounce from resistance line and start to fallHi guys, this is my overview for British Pound, feel free to check it and write your feedback in comments👊 After price bounced from $1.2675 support level, which coincided with support line, it rose to $1.2990 resistance level. British Pound broke this level and rose to $1.3140 point, but soon rolled down and started to decline. When price started to decline, it broke again $1.2990 level, which coincide with resistance area, and entered to falling channel. In channel, price fell to $1.2675 support level, which is located inside support area, but recently it bounced up. Now it continues to trades in channel and I think that British Pound can bounce down from resistance line and start to fall to $1.2500, breaking support level. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
11
GBPUSD: Channel Up broken downwards. Bearish mode right now. GBPUSD crossed under its four month Channel Up pattern, as well as closing under the 1D MA50, thus turning the 1D timeframe bearish (RSI = 43.717, MACD = -0.001, ADX = 34.501). Currently this is a sell signal, targeting the 1D MA100 (TP = 1.2625). Every Support (S) broken, will be a sell signal for the next one. We are buying only if the price crosses over the 0.618 Fibonacci level or the 1D MACD completes a Bullish Cross. In both events, our target will be the 1.382 Fibonacci extension (TP = 1.3335). 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
7
HelenP. I British Pound can make a movement down and bounce upHi folks today I'm prepared for you British Pound analytics. A few days ago price bounced from the 1.2685 support level, which is located inside the support zone, and made a strong impulse to the 1.2950 resistance level. Also then, the price broke the 1.2950 level too and rose higher even than the resistance zone, but soon British Pound started to decline. Price entered to downward channel, in which it declined below the 1.2950 resistance level, thereby breaking it again and falling to the support line of the channel. After this, the price tried to back up, but when it reached the resistance level, British Pound rebounded down and continue to decline to the 1.2685 support level. But a not long time ago it bounced from the support level and started to rise. At the moment, British Pound continues to trades in a downward channel and I expect that it can decline to a support level again and then rebounded. For this reason, I set up my target at the 1.2800 level, which coincides with the support line of the downward channel. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
10
EURGBP - Price can continue to trades inside rising channelHi guys, this is my overview for EURGBP, feel free to check it and write your feedback in comments👊 Some days ago price bounced from support line and rose to resistance line of triangle, thereby breaking $0.8630 level. After this, British Pound started to decline and fell to $0.8565 support level, which coincide with support area. Also, price exited from triangle and entered to rising channel, where it later reached $0.8630 resistance level again. Then price tried to rise higher, but after British Pound touched the resistance line of channel, it bounced down and now trades below $0.8630 In my mind, price can rise to resistance level and then bounce down to $0.8590 point, which coincides with support line of rising channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
6
GBPCAD: Double long term Buy opportunity.GBPCAD is testing the 1D MA50 as Support on neutral 1D technicals (RSI = 49.135, MACD = 0.001, ADX = 29.493). This is an early buy signal. However since the long term pattern is a Channel Up, the downside potential extends as low as its bottom of the HL trendline. Throughout its formation, the 1D MA100 has constantly provided Support, more specifically three times since February 16th. Consequently, if a 1D candle is closed under the 1D MA100 (again it will be the first time inside this eight month Channel Up), we will add a second buy position near the 1D MA200. The current buy (1D MA50) targets the top of the Channel Up (TP = 1.74500), the lower buy targets the 1.382 Fibonacci extension (TP = 1.75150). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
10
EURGBP Wait for a higher sell entry.The EURGBP pair is trading within a Channel Down pattern since the February 03 High and right now is attempting to make a rebound on the 1D MA50 (blue trend-line). The Resistance from the recent High is at 0.87025 (Resistance 1) and is near the spot we expect the next rejection to take place as it is also where the 1D MA200 (orange trend-line) is. We will use that opportunity to sell and target initially Support 1 (0.85050) and then Support 2 (0.84100) in extension. A good sell confirmation signal can be when the 1D RSI breaks below its Higher Lows trend-line, followed by a rejection on the 1D MA50 as a Resistance. ------------------------------------------------------------------------------- ** 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
4
GBPNZD: Supported on the 1D MA50. Trade these levels.GBPNZD has turned sideways basically for a whole month (since June 28th) as it is restrained under R1 (2.092225) while being supported by the 1D MA50. This has turned the 1D timeframe neutral (RSI = 53.387, MACD = 0.005, ADX = 22.546), which is an expected technical outcome. We will trade this setup on a breakout basis. A crossing over R1 is a buy signal targeting an aproximate +4.95% rise (TP = 2.15000). A crossing under the 1D MA100 and naturally the HL of the Rising Megaphone, is a sell signal targeting S1 and the 1D MA200 (TP = 1.98500). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
2
HelenP. I After broke trend line, British Pound can make retestHi folks today I'm prepared for you British Pound analytics. Some days ago price fell to the 0.8550 - 0.8535 support zone, which coincide with the support level and soon it bounced and made impulse up to the 0.8655 resistance level. After this, EURGBP started to decline and fell lower at the 0.8550 - 0.8535 support zone, thereby breaking the support level, but at once it rebounded from it and made a strong impulse higher of 0.8655 resistance level, which coincide with the resistance zone. Also later, the price reached the trend line and then bounce down to the support level, breaking the resistance level. But a not long time ago, British Pound rebounded up from the 0.8550 support level, broke the trend line, and now continues to trade near the trend line. I expect that price can make a retest of the trend line and continue to move up. Therefore I set up my target at the 0.8615 level. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
10