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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.
TVC:BXYShort
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
GBPJPY Sell signal on this Triangle pattern.The GBPJPY pair is trading within a Triangle pattern, similar to July's. The price is currently approaching the 4H MA200 (orange trend-line), which is untouched since August 08. As long as the pair closes below the 0.382 Fibonacci level, we are selling the bearish break-out and target 181.600 (Fibonacci 1.5). Notice how the 4H MACD sequences between the two fractals are identical. ------------------------------------------------------------------------------- ** 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 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