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Buygbpusd

Sterling to Find Supportthe GBP/USD pair is showing some signals of an impulsive wave formation, i am expecting a wave 4 pullback near 1.2080/1.2050 area in order to long again targeting 1.2380/1.2690 region medium to long term. with some geopolitical tensions we might see a strong US dollar in the coming sessions considering the Dollar index a safe haven. tomorrow we will have 50BP hike from BOE as priced in the markets , the strongest hike since 1995 , thus a stronger pound expected after that meeting tomorrow. good luck !!
Long
by josephdahrieh
GBP/USD. It's time for pound to gain the weight.The GBP/USD has been falling for a month now and globally since last summer. The decline in the pound led to its strong oversold. There are bullish divergences on the charts of different timeframes. We think it's time to buy the pound against the US dollar. The divergence signals of H1 and H4 charts suggest an upward movement within a few weeks. If the situation goes in this way, the bullish divergence of the weekly chart will form completely and this may stimulate a longer-term growth of the GBP. As the main option, we consider the formation of an Reverse Head-and-Shoulders figure. The first target of growth is the resistance level near 1.33000 (also, 1.33141 is a 1.618 Fibonacci extension of the 1.31943-1.30005 impulse 10-14.03; 1.33220 is a 50% fibo-correction from the decline 1.36435-1.30005 10.02 -14.03). The next target is around 1.33900 (the target of the classic Head-and-Shoulders pattern realisation with the horizontal neckline). How to trade Open long with the first target 1.33000 (close deals whole or partially). In case of partial closing, use a floating stop-loss to protect profits and, depending on the reversal pattern, determine a target level for the complete closing the trade. Set the stop-loss below 1.30000.
Long
by ForbesRatingN1
EWP: Will GBPUSD touch 1.400 before the next weekend?Price has made significant Low at 20th august,2021. Extreme low has given us beautiful Impulsive structures. Wave ((1)) Wave Nature: Motive wave Type of motive wave: Impulse (Five waves) Wave ((2)) Wave Nature: Corrective waves Type of corrective pattern: Irregular or Expanded flat. Retracement of wave ((2)) : 50% of wave ((1)). Wave ((3)) Wave Nature: Impulse (3rd wave can only be an Impulse with 5 waves) Extention of wave ((3)) : At this motion, price is riding on sub-wave (3) of wave ((3)). Wave has an extension of ((3)) 161.8%, but the party is not over yet. We are to get waves (4) and (5) of wave ((3)). one can expect 2.618% of wave ((3)) and even more! Sub-waves of wave ((3)) : Wave (1) is an impulse. Wave (2) is an irregular flat. Wave (3) is an impulse. Extention: 161.8% of wave 1 The price extension of wave (3) is 161.8%. If the price breaks the 1.39154 level without any correction, we will have a powerful extension. Wave (4): According to rules of alternation, if the second wave seems flat & time-consuming, then wave four can be shart and quick. We may get a running triangle or a zigzag correction. Common Retracement: 38.2% of 3rd wave at 1.38305 50% of 3rd wave at 1.38101 61.8% of 3rd wave at 1.37924 50% retracement for wave 4 is acceptable for two reasons: 1. An Important support level is the 1.38107 50% retracement level of Wave 3. 2. Wave 4 is more often complete nearby the sub-wave (4) of wave ((3)). If the price breaks the hurdle line, we will have a violation of the rule. However, wave two can never overlap the starting point of wave 1. Conclusion : If the 3rd wave will crossover 161.8% of retracement extension without correction into wave (4), then we will have a powerful price extension for sub-wave (3) of wave ((3)) or after wave 4. I will reveal the next move of GBPUSD in the short timeframe analysis soon. Therefore, stay connected.
Long
by forextidings
10