GBPUSD from 1.4 to 1.38 longs inboundwe have the cable dropping from 1.4 and headed to another critical buy zone at 1.38. denied multiple times to go lower in all of march so far we can assume longs can be loaded here in this zone with a tight stop loss and minuscule drawdown for a high probability trade
Cable
GBPUSD SETUP 1:5Generally, prices have been remaining disciplined and follow this bullish trend
Currently, prices are at the support level and are ranging between the 61.8% and 50% Fibonacci level.
I'm expecting a breakout of this ranging pattern next week.
Hopefully, we may see prices reach previous highs which would secure us 5R.
GBPUSD | Range | How To Work ItLooking for buys within this range at the moment. Things are looking like what we spoke about in this week's market prep.
Ideal scenario
We attack buy-side liquidity, then we see a minor sell-off from UK close to Asia Open.
Right now the activity within this range looks bullish because we have a void above price and the price has been clearing the sell-side orders.
This means the buy-side should be cleared next.
Price is like Pacman, all it wants to do is eat orders.
I'm actually still bearish overall on this pair at the moment, depending on how this progresses things could change, (targeting 1.3800)
I wouldn't be surprised if we retraced all the way up to those two red zones, then see a heavy dump off,
Keep in mind GBP has some red folders on Thursday morning. Might be safer to work within this until then, then let the news do its thing.
GBPUSD - BullishGBPUSD in a significant uptrend, with the pound showing strength today across the board. D1 timeframe illustrates the overall bullishness more obviously.
Price has managed to close above the H1 100 and EMA, and so 1.4000 seems reasonable to reach at some point today.
As illustrated on the chart, the 1.4000 psychological level is acting as a noticeable area of support/resistance. If momentum can break this then I believe we can move much higher. the 1.40857 area then appears to be the next level to watch.
Let's see how this plays out!
Where Next For GBPUSDCable has done what we wanted since calling longs last year to $1.40s after Brexit had been sorted. Now it's rangebound at the highs. So can look to trade this range or patiently wait for price to make its next big move. There is certainly potential and scope for $1.50 so am sure Traders will be reviewing this providing USD Index remains Bearish this year.
EURUSD// Long OpportunityReasons not to enter...yet:
1. Haven't had the daily reversal close yet.
2. News hasn't been released yet, and it could be the opposite of what is expected.
3. Possible liquidity grab before continuing up.
As of right now, these are the only reasons I could see that would prevent entry. In terms of news, it is possible that expected results might be exaggerated in effort to force a spike or surprise. However, I for EURUSD, I don't think there will be any surprises. I couldn't find much reasons not to enter...this seems like a good buy.
Let me hear your thoughts.
Previous Analysis linked.
GBPUSD - LongGooood morning ladies & gents.
Price has corrected down to the D1 Bullish OB. The IoF is still bullish therefore long is the favourable direction to trade in.
Price has induced past PDL followed by presenting me with a signature reversal structure going long. I'm looking to trade this up to PDH for an RR of 1:5.
Peace & Love,
- AmplaFX
GBPUSD - THIS WEEKweekly, daily, 4hr. all key here.
Weekly shows that for the 2nd week in a row, price rejected the 1.40 level.
Daily is showing good corrective candles.
4hr is showing a small zone of support, but I'm more interested in the daily below which would be the safer buy for the next impulse.