GBPUSD H4 - Short Signal on H4 closeGBPUSD H4 - Here is the slightly lower timeframe analysis we would be considering, just like the EURUSD short we took yesterday, the price action close on a key retest/zone after buyer exhaustion, no doubt you can see the slowdown in bullishness as we approach this 1.21 handle, a close on the H4 in 30 minutes would be the typical sell signal. Caught with a sequence of bad luck yesterday, technical play unfolded well, but the fundamental momentum took us out.
Cable
GBPUSD 1.20 Target Achieved, New Pattern EmergingTechnical & Trade View
GBUSD
Trade View
1.20 Target Achieved, New Pattern Emerging
Bias: Bullish Above Bearish below 1.1760
Technicals
Primary support is 1.1760
Primary upside objective 1.2060
Next pattern confirmation, acceptance above 1.1970
Failure below 1.1730 opens a test of 1.1630
20 Day VWAP bullish, 5 Day VWAP bullish
Today’s New York Cut Option Expiries: 1.1695-00 (414M), 1.1800 (319M)
Institutional Insights
According to analysts at Credit Agricole ‘The GBP could remain an attractive stagflation and risk aversion hedge for now. Soaring energy costs, labour market shortages, global supply chain disruptions and persistent Brexit-related headwinds continue to plague the UK economic recovery and thus complicate the BoE’s ability to normalise in the face of uncomfortably high inflation. This could keep UK real rates and yields negative and weigh on the GBP for now. In addition, the war in Ukraine as well as idiosyncratic risks related to Brexit could make the UK’s economic recovery less robust as well. In the longer term, recovering UK real rates and yields could usher in a cautious recovery for the GBP in H223’
According to analysts at Scotia Bank ‘IMM data for the week through Tuesday reflect a further moderation in USD bullish sentiment. Overall USD long positioning has been steadily pared back in the past few weeks but plunged sharply in last week’s data and eased further ahead of last week’s US CPI report. The aggregate USD long fell just under USD1bn this week and now stands at just USD1.2bn, effectively neutral, and reflects the least bullish sentiment on the USD among Non-Commercial (speculative) accounts overall since early 2021. Investors turned less bearish on the GBP apart from the USD351mn short-covering in the GBP, positioning changes were relatively minor’
GBPUSD D1 - Long Setup (following daily correction)GBPUSD D1 - Wouldn't like to attempt to swing short this pair, due to it's aggressiveness, or any USD related pair for that matter, however, I would still be happy to indicated preferred buy zones upon relative corrections, regardless of where we head, we can simply prepare ourselves for buy opportunities amongst ***USD pairs, whether we pullback and realise them is another thing, we can just keep adjusting our entries and zone plays until something unfolds. Based on Fridays moves, I feel a correction could be due early this week, gold sitting at a key price on D1 resistance 1765.
DXY D1 - Awaiting dollar exhaustionDXY D1 - Two extremely bearish days to end the week last week for the dollar, inflation figures coming in lower than expected has really highlighted the possible pivot for the FED, inflation and interest rate woes. Simply looking for this bear run to expire, from here, we can then look for some healthy corrections, before then trading amongst new and fresh trading zones we haven't seen for a few months.
Cable Is In A Correction Within UptrendCable made five waves up from the 1.0353 lows, which suggest that bottom is in place from Elliott wave perspective, but more upside can be seen after a corrective pullback.
We know that after every five waves market slows down for a three-wave setback that is now underway. Probably the pair is going to form an A-B-C flat correction, currently trading in wave B rally that can stop at 1.16-1.17 resistance. Ideal support for the whole correction will be at 1.08-1.06.
Trade well!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Joe Gun2Head Trade - Gap filled on GBPUSDTrade Idea: Selling GBPUSD
Reasoning: Filled the overnight gap, downtrend expected to continue.
Entry Level: 1.1378
Take Profit Level: 1.1151
Stop Loss: 1.1425
Risk/Reward: 4.94:1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
GBPUSD have bottomed?Has GBPUSD bottomed? Price action suggest that it has. Since GBPUSD dropped to $1.036, higher lows pattern have formed WITH contracting pattern (tightening). From that pattern I drew a trendline.
Price broke the key moving averages confluenced with the trendline break. Currently price is retracing back to its mean 50/100/200 after testing several times the $1.163 level.
Actionable plan : wait for the price to test the key moving averages (keep it simple) and identify a rejection at those level and then Long.
*Rejection could be anything. but preferably confluenced with pocket pivot (blue bar or green bar at volume indicator)
GBPUSD Nice Weekly Bullish Rally But Hurdles Await @ 1.18000Market excited with Rishi as PM, but bulls need to overcome hurdles at 1.18000 to continue the move. A rejection at this level may revert price to re-test previous support levels...
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
NZD GAINING STEAM ON THE UPSIDE. IS THE RUN SUSTAINABLE???Following the downside drop of the TVC:DXY index that shows the strength of the Dollar, FX:NZDUSD has been trending to the upside.
similar to its correlated pair FX:GBPUSD . Will this hold for the long term?? let's wait and see.
my view is bulls will control the markets for the NZD/USD to the 0.6200 level.
ITS A GOOD TIME FOR A BUY ENTRY.
RISK REWARD RATION 5.4. ITS A SWING TRADE!!
Joe Gun2Head Trade - GBPUSD Breaking higherTrade Idea: Buying GBPUSD
Reasoning: GBPUSD Breaking out
Entry Level: 1.1542
Take Profit Level: 1.1861
Stop Loss: 1.1422
Risk/Reward: 2.66:1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
GBPUSD WHALE PERSPECTIVEThe High of the Week is normally created Tuesday or Wednesday.
Today we saw a huge rally on US Base Currencies.
Retail believes in 1:3 trades.
Whales Believe in 1:10 and Above.
Snipers; we trade with the WHALES.
This play is valid through London session 2-5am.
Proceed accordingly.
Never Over leverage. The right trades will always make you very profitable.
Trust your set up.
Have Fun!
I AM Master Jedi & Sensi of #SniperGang
EVERYBODY EAT$
GBPUSD H4 - Short SignalGBPUSD H4 - We are trading south of this 1.13 whole number, and we are still descending on multiple timeframes, the daily, H4 and H1, undoubtedly. Analysis to follow on the hourly timeframe, to justify to potential intraday entry point. Targets initially 1.08-1.10 I feel, this could be a healthy balance price, until we hear more from Sunak and government positioning. Dollar expected to continue it's bull run.
GBPUSD Daily Projection 25/10/22GBPUSD
GBPUSD made a correction to close the opening gap last week and continued to rise again. The cable is currently in the range 1.13025 - 1.13502 and most likely will return to the resistance range 1.13502 - 1.13695 today after correcting the break of the resistance.
BUY LIMIT 1.13048 SL 1.12467 TP 1.13663
R3 1.14139
R2 1.13695
R1 1.13502
PV 1.13025
S1 1.12520
S2 1.12016
S3 1.10793