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Britishpound

The Pound Muscling The Yen!Today, we are seeing strength in the British Pound, with bullish momentum pushing price towards the recent resistance level. We had a decline on March 28th, which found support around 160.00, and from April 1st, the buyers have gained back control and moving price back to the upside. A break and close above the recent resistance at 164.65 will be significant because it will be the first breakout following the breakout from consolidation on March 22nd. This will be our signal and confirmation of a trend continuation where we are likely to see a strong trend unfold. Be on the lookout for that breakout because there could be an opportunity to profit well from a strong move in this forex pair. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
Long
by Sublime_Trading
GBPUSD aiming at a new Low within the Bearish Megaphone.GBPUSD failed to break above the 1D MA50 (blue trend-line) and the 0.5 Fibonacci retracement level last week and as a result the market lost confidence and resumed the long-term bearish trend. That has been within a Bearish Megaphone pattern since July 2021. The selling fractal since February 17 resembles the sequence of late October - early December 2021. The pair also failed to break above the 1D MA50 and the 0.5 Fib after a short-term rebound, and eventually made a new Megaphone Lower Low on the 1.382 Fibonacci extension. That extension is currently at 1.2750. Only a break above the 1D MA50 can be treated as a short-term buy aimed at the 1D MA200 (orange trend-line). *Note: The RSI has been under Lower Highs since January 13. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Short
by TradingShot
GBP/USD bearish OUTLOOK medium termZEYAN here!!!! I'm looking at the market as a bear, and as far as I can tell, in the medium term, it's more bearish then bullish This is a general idea of how I view the market; I use algorithms to determine trend and different entry techniques; please do not take this information at face value; conduct your own research. If you want me to analyze your charts, please let me know in the comments. like for more!!!!!!!!! This is not financial advice; please conduct your own research and use this information as confirmation in addition to your own analysis.
Short
by zeyankhan1318
1