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Britishpound

GBPUSD: Megaphone pulling back. Chance to buy the dip.GBPUSD is trading inside a Bullish Megaphone pattern after the March 8th bottom with the 1D timeframe still bullish (RSI = 61.970, MACD = 0.007, ADX = 32.900) despite the fact that the price has been on a pullback since the June 16th high. This is because the technicals were previously overbought and the harmonization process is longer. Technically when the RSI turns neutral it will start being a buy opportunity again. The closer to the 1D MA50, which is now at the bottom of the Megaphone pattern, the better. We will buy and target the top of the Megaphone again (TP = 1.3000) before it eventually tests the R1 (1.3090) after the next pullback. 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
9
HelenP. I British Pound can bounce down of resistance lineHi folks today I'm prepared for you British Pound analytics. A few time ago price bounced down and declined below support 2, which coincide with the support zone, to the trend line. But at once price bounced up and made a strong upward impulse to support 1, which is located in the current support zone. After this, British Pound made a correction to the trend line, then it bounced and continued to move up. When the price rosing, the price first reached support 1 with the support zone again, and a not long time ago broke their too. Then British Pound made a retest and continue to rise to the resistance line. At the moment price continues trades close to this line, and I think it can reach the resistance line, then bounce of this line and start to decline to support 1. For this reason, I set two targets, the first target located at - 1.2700 and the second at - 1.2575 support level. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
8
EURGBP - Price can break resistance level and continue to growHi guys, this is my overview for EURGBP, feel free to check it and write your feedback in comments👊 A few days ago price tarded inside from flat, where it sometimes fell to support area. After flat, price bounced down and made downward impulse to $0.8570 level, which coincided with support area. Thereby breaking past supports level and area and later British Pound bounced up and tried to rise, but failed and started to decline in falling channel. Inside channel price broke supports level and area and now it trades close it. Maybe British Pound can make correction, bounce up to resistance level, and try to break it. After breakout, price can continue to rise to $0.8590 resistance line of falling channel. If this post is useful to you, you can support me with like/boost and advice in comments❤️
Long
by WalterMoon
12
GBPCAD: In neutral zone. Engage only on those levels.GBPCAD got rejected on a LH trend line of a short term Channel Down pattern inside a wider, long term Channel Up. As the 1D technicals are borderline green (RSI = 56.107, MACD = 0.0002, ADX = 32.690), we will proceed with a buy position only if the price closes the candle over the LH and target the Resistance (TP = 1.71415) and similarly sell only under the 1D MA100 and the dotted line and target the 1D MA200 (TP = 1.6500). Observe the RSI's top to book profit earlier if needed. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
by InvestingScope
1
GBPNZD: Sell signal targeting 2.0200.GBPNZD reached the top of the 5 month Rising Megaphone and straight after the 1D RSI turned overbought (RSI = 57.238, MACD = 0.009, ADX = 19.804), the price got rejected on a HH. As you can see, the same overbought level caused the April 26th rejection on the HH line. Our target is the HL trendline (TP = 2.0200). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
2
GBPUSD - Price can bounce down and break support levelHi guys, this is my overview for GBPUSD, feel free to check it and write your feedback in comments👊 When price reached $1.2680 point, it bounced down, entered to falling channel, in which where soon, price broke support level. British Pound declined lower next support level with area, thereby leaving falling channel. After this movements, price a few times later made strong upward impulse to resistance line. Then British Pound made correction, thereby entering to wedge, in which price rose to resistance level and recently broke it. Also a not long time ago, price exited from wedge and now trades close support line, but I think it can fall below this level. As well, British Pound can maybe make retest and then continue to fall to $1.2550 If this post is useful to you, you can support me with like/boost and advice in comments❤️
Short
by WalterMoon
9
HelenP. I GBPUSD exit of triangle and may continue to growHi folks today I'm prepared for you BRITISH POUND analytics. For a long time, the price moved in a local uptrend and formed a resistance zone of 1.2650-1.2680. After a re-test of the resistance zone, the price started to fall and eventually dropped to the level of 1.2305. Over a long period was formed, an ascending triangle, which the price has recently left. After retesting the trendline that matches the support of the triangle, the British Pound continued to rise and broke through the resistance zone 1.2525-1.2545, which corresponds with the resistance of the triangle. The price made a correction, tested the current support zone and continued to rise. Now the British Pound is trading above the support zone and, after a possible downward correction, can continue the local uptrend. I hope that the price may continue to rise and reach the resistance zone. Therefore, goals will be set at 1.2600 and in the zone 1.2650-1.2680. If you like my analytics you may support me with your like/comment ❤️
Long
by FirstNameHelen
5
GBPAUD: Getting rejected on the 1D MA50. Potentially a very bearGBPAUD crossed under the 1D MA50 three days ago for the first time in three and a half months and today upon a retest as Resistance it is initially failing. With the 1D timeframe technically neutral (RSI = 45.941, MACD = 0.001, ADX = 27.184), if the price gets rejected then selling should transition into the 1W timeframe as well and start testing the lower Support levels. The HL trendline is in between, so you may sell after it breaks if you want. The first target is S1 (TP1 = 1.84000) and the second is S3 (TP2 = 1.815000). 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
EURGBP Excellent buy opportunityEURGBP is rebounding after hitting Support (1) which was last touched on December 13th 2022. This is a short-term buy opportunity but the long term trend remains bearish, not only due to the Falling Resistance since February but also 3rd but also due to the formation of a Death Cross (1d), the first since Jnuary 21 2021. Trading Plan: 1. Buy on the current market price. Targets: 1. 0.87150 (Resistance 1) and estimated contact with the MA50 (1d). Tips: 1. The RSI (1d) is trading under a Falling Resistance, same as February through March. I made a reversal after touching the oversold level of 30.00. This is a strong additionl reason to buy on the short term. Please like, follow and comment!! Notes: Past trading plan:
Long
by TradingBrokersView
9
HelenP. I GBPUSD may break support level and continue to fallHi folks today I'm prepared for you BRITISH POUND analytics. The price tested resistance 1.2545 rebounded and started falling. The British Pound tried to break through the level of 1.2445, but failed to fix below, and only after a deep upward correction the price broke through support and fell. For a long time, the price traded below the current resistance of 1.2445 and after making a deep upward correction, the price re-tested the trendline and continued to fall. Subsequently, the British Pound to decline to mark 1.2310 and formed a support zone, which was re-tested and started a local uptrend. The price went up to the current resistance, retested it, and bounced. After a deep downward correction, the British Pound continued the local uptrend, broke through the trend line and the level of 1.2445 and continued to grow. Recently, the price re-tested the resistance at level 1.2545 and began to fall. The British Pound is currently at level 1.2445 and may break through it and continue its decline. I hope that the price may continue the local downtrend, so the goals will be set at levels 1.2400 and 1.23600 which corresponds trend line. If you like my analytics you may support me with your like/comment ❤️
Short
by FirstNameHelen
8
British Pound make deep correction and can continue move upHello traders, I want share with you my opinion about British Pound. Looking at the chart, we can see how the price formed the seller zone 1.2645-1.2670, retested it, and began a downward movement. The British Pound broke through the level 1.2540, declined and after testing the support level 1.2445 made a correction upwards. The price retested the current resistance level, continued to move down, and broke through the support level. Subsequently, the British Pound reached the level 1.2305, changed direction and began to rise. The price retested the resistance line and continued to rise. After a slight downward correction, the British Pound break through the level 1.2445, created an upward impulse and rose to the resistance level. Not long ago, the price retested the resistance level and dropped to the support level. Now the price is testing the support level and may continue to rise. I think the British Pound has made a deep downward correction and can now continue an upward move. In this case, I decided to set the targets at level 1.2480 and at level 1.2540. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
7
EURGBP Forming the first 1D Death Cross since January 2021!The EURGBP pair is completing today the first Death Cross on the 1D time-frame since January 21 2021. That is a strong long-term bearish signal on its own. On the short-term though, the price just hit the bottom of its 5 month Channel Down, while the 1D RSI, which is also on a Channel Down, hit its own bottom while turning oversold (below 30.00) for the first time since March 10 2021. As a result, we've opened a buy on EURGBP, expecting a +1.69% rise, targeting the top of the Channel Down at 0.87150. If however the price closes below Support 1 (0.85475), then the selling pressure due to the 1D Death Cross will most likely pile up and we will turn bearish instead, targeting Support 2 (0.84100). The R/R ratio on this action plan is very favorable. ------------------------------------------------------------------------------- ** 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
5
GBPJPY approaching the most optimal sell level.The GBPJPY pair is approaching the Inner Higher Highs trend-line that is in effect for more than a year (since April 20 2022) on a similar Channel Up (green) like the ones of October 2022 and March - April 2022. The 1D RSI is almost overbought, and the 1D MA50 (blue trend-line) has been supporting since March 28. We are starting a sell sequence with the 1D MA200 (orange trend-line) as our medium-term target with a projected contact at 166.500. Notice how common it is for the pair to peak when the 1D RSI double tops. ------------------------------------------------------------------------------- ** 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
7
British pound trades in wedge and can rose to resistance lineHello traders, I want share with you my opinion about GBP/USD. Looking at the chart, we can see how the price formed the seller zone 1.2275-1.2310 and continued to move up. The British Pound reached the level 1.2540, made a deep correction, continued to rise and broke through it. Subsequently, the price rose to the level 1.2680, from where it began a downward movement. The British Pound continued to decline and eventually created a downward wedge. For a long time, the price has been trading inside the wedge and not so long ago retested the resistance line and continued to decline. The British Pound went down, retested the support line of the wedge and, after a small upward correction, made a fake breakout support and retested the buyer zone. The price returned to the within of the wedge and began to rise. Now the price is below the resistance line, but can continue to rise and break through it. I think the downward movement can continue, but first the price can make an upward correction. In this case, I set the target at level 1.2400, which coincides with the resistance line of wedge. Please share this idea with your friends and click Boost 🚀
Long
by LegionQ8
4
EURGBP: Near its bottom. Long term Buy.EURGBP is consolidating under the 1D MA200 for the 11th consecutive day which keeps the 1D time-frame near neutrality, despite the marginally red technical indicators (RSI = 43.260, MACD = -0.003, ADX = 36.781). This is a standard bottom formation and since the 1D RSI is rising after hitting the Channel's bottom, the signal gets stronger. The standard rally inside this Channel Up that extends for more than 1 year, is +5.00%. We are extending our downside tolerance, assuming a potential bottom on the HL of the Channel Up, so taking a +5.00% rise from there gives us a bullish Target marginally over the 0.618 Fibonacci level. Our TP is 0.90200. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
6
GBPUSD Below the 1D MA50, expecting more selling.The GBPUSD pair hit our upside target (1.2650) and May 27 2022 High on our last buy signal (see chart below) almost 2 months ago: The price is now on the 1D MA50 (blue trend-line), having closed a candle below it yesterday for the first time since March 16. This is a bearish continuation signal that is targeting the 1D MA200 (orange trend-line) yet again. Our target is at 1.2100. The 1D RSI can provide additional insight on a potential new buy entry at the bottom. If however the price closes above the 1D MA50 instead on two straight 1D candles at least, then hedge the position with a buy targeting the June 01 2021 Lower Highs again. If the pair closes a 1D candle above that level, it will be the first time to do so in years, and will be a major buy signal. In that case we will buy and target the 1W MA200 (red trend-line) at 1.2850. ------------------------------------------------------------------------------- ** 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
10