GBPUSD Counter Trend PlayIn this update we review the recent price action in the GBPUSD and identify the next high probability trading opportunity and price objectives to target
Cable
▪️GBPUSD LONG▪️TF- D1/WK▪️6-10R▪️400-700pipsType - Retracement trade; Very possible swing now
TF- Daily/Weekly
BIAS - Bullish
ENTRY - 1.1556
SL - 1.1490
TP - 1.1730(GrAA),1.1870(GrAAA), 1.1950(GrAAA),1.2240(GrAAA)
RR - 1:6 (10R max)
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Upside LVL's (RES)
1.1730(GrAA)
1.1870(GrAAA)
1.1950(GrAAA) - 6R case
1.2240(GrAAA) - 10R case
Downside LVL's (SUP)
1.1440 (GrAA)
1.1360 (GrAAA)
GBPUSD SELL POSITIONS FOR TOMORROW (WITH TARGETS)*not financial advice*
- 15m chart
- 2 sell positions
- Targets Defined
- Good luck
GBPUSD: Cable woes continue?!GBPUSD
Intraday - We look to Sell at 1.1820 (stop at 1.1900)
Buying pressure from 1.1621 resulted in prices rejecting the dip. Bullish divergence can be seen on the 4 hour chart (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher. A higher correction is expected. The bias is still for lower levels and we look for any gains to be limited. The trend of lower highs is located at 1.1901. Preferred trade is to sell into rallies.
Our profit targets will be 1.1600 and 1.1500
Resistance: 1.1840 / 1.2015 / 1.2155
Support: 1.1500 / 1.1330 / 1.1000
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GBP/USD Long +1000 pips- Price broke last swing low making a liquidity grab & divergence at a very strong demand zone at 1.1500.
- We can observe a descending corrective channel after price broke 1.13000 zone.
- We have 2 pivot lines for buying
pivot 1: (1.1900)
Pivot 2: (1.2100)
GBPJPY Analysis for London sessionexpect price to reach 162.00 , from thiss point we will be looking to go short down to 161.45(tp1) and if the support aat the price level dosent hold we will be looking forward to hold to final target 160.85
GBPUSDDo we approach a big shift in Cable ?
Will next years weaken the USD ?
I do see a big H&S forming on the weekly chart in Cable . I entered a buy position and Tend to hold it Troughout 2023 if SL not reached . I see a very weak USD in the coming years .
Not financial Advice :)
GBPUSD, further weakness expected on Sterling against DollarFed speech last Friday made USD strengthen and DXY technically looks upwards till 110 zones which let other Major pairs will face effects, that too GBPUSD looks bearish till 1.15 zone, Expect a bounce back from the low there, Cant neglect the fact of NFP reports on Sep 2, Friday
$GBP - It's time!$GBP - It's time!
Cable has a good R/R - A pull back to the support areas near 18 areas. A break above next area of interest is the TL down area of where 50EMA is placed and target 200 EMA areas.
Enjoy
TJ
£ $GBP - Slippery slope!£ $GBP - Slippery slope!
Now to be aware fundamentally GBP is at a very weak position just like EUR. UK recession and plenty of more other various factors that are listed in previous post based on GBP. However, we could decline further leading us towards low of 2020 areas and perhaps Brexit areas IF we go below 1.17 handle. Just to be aware we do have new Prime Minister coming in early sept and even if its Rishi we could get GBP yields head a little higher but overall we are fundamentally in a difficult situation even cap on energy isn't enough, globally housing is struggling we are at a time where cash is king for now.
Tread carefully,
TJ
GBP/USD (cable): short-term growth pendingAs it can be inferred from the 8H timeframe chart, the price has formed a double bottom pattern on a strong level of support. Considering the fact that after an impulsive move, a correctional one is needed, we are expecting for the price to keep rising and reach the area of the STF LL as plotted on the graph to compensate for the massive bearish drop that has occurred.
Will Cable's Double Bottom Cause It's Rally?GBPUSD exhibits double bottom. Will this cause bullish rally for the pair?
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
Buy GBP/USDBuy GBP/USD @ cmp of 1.1763 target 1.20-1.21 stops below 1.16
Reason: The UK-US 02year bond yield spread has jumped by 100 basis points since Aug. 8, while GBPUSD has continued to fall. In my opinion, Pound will catch up with the recent bounce in the yield spread. Besides, there is chatter than UK will have to raise interest rates above 4% to combat inflation.
Besides, GBP/USD's weekly chart shows bullish divergence of RSI.
GBP/USD ShortPrice has made consecutive new lows on the Daily Chart at upper trend line.
Initial idea was an Inverse H/S which appears not to be playing out.
RR 2:1 ATR
Polycab on buy mode !!Polycab look very strong in chart 💪 today they can break the most imp bearish resistance with a heavy candle or strong candle
Buy it above at 2440
Our target 2509 2585 2630 2716
Sl 2340/2280 based on UT risk ratio time minimum 1 month
Looking for a sell around the 1.2100 big figureWe took out buy-side liquidity yesterday and then we got a ms shift as marked on the chart. I'm looking for a sell in the blue shaded area and targeting the sell-side liquidity at the 1.2050 level.
Will Cable Reject Further Price Decline At Buyers Level?GBPUSD is declining towards buyers level, will there be price rejection at this level? If price is rejected with a strong bull bar, that's positive, else the pair may continue to decline...
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
GBPUSDAn interesting, longer time-framed perspective of cable.
7 year distinct range
6 year distinct range
1.20 represents a key level. Does cable break below the 6 year range low? Or are we set to see reversion back to 1.40?
Only time will tell.
GBPUSD D1 - Short Setup, Dollar BullsGBPUSD D1
As per the above video analysis, 1.22 support breach, followed by a retest of the underside of 1.22 (acting as res). Strong confluence stack like we have been discussing over the last couple of days.
Really want to see price pull down south of 1.21500 to break the trend officially. And therefore see this D1 bear pull see another wave.
GUGU being super, caught some great pips this week, this area has potential to add some position size to the trade again, as we pullback and look set too rise up from here, check our original analysis of GU below.
GBPUSD technical analysis: 50-dma breakoutGBP/USD update
The cable (GBP/USD) rose to 1.226, smashing the 50-day moving average for the first time since early February 2022, as speculators increased their expectations for a 50 basis point BoE rate hike this week, which would be the largest interest rate increase in 27 years, pushing borrowing costs to 1.75%, the highest level since 2009.
With UK inflation running at 9.4% year on year in June, more aggressive action is needed to put out the fire and since economic activity and the labour market continue to demonstrate surprising resilience, the market anticipates that the BoE's board has more room for marked and front-loaded rate increases.
Next resistance is now seen at 1.233 (June 27 highs) and 1.248 (early June support). The 14-day RSI spiked above 60, its highest since mid-January, and MACD is above zero for the first time since February.
