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GBP - BULLISH but for how long? 1.40?!GBP - One of my favourite currency pairs! How's everyone doing? What's your favourite currency pair to trade? Do you have an edge? If not - Work hard and create your own edge - I am sure 100% you can and will accomplish that goal. If you don't know what edge is - Message me privately. Sometimes, you don't actually need to trade all the currency pairs and concentrate on selective few that you may have further interest in creating your edge. I've been loving trading GBP - Scalped, day trades and even longer term trades kept for months! It's been great currency with the fundamental & technical aspects...BUT how long do we keep buying for? Well there are key resistance areas within longer time frames that you can analyse further in depth. Quick outlook: GBPUSD Technical aspects: Pattern: Bullish flag Measured towards high ends of 1.39 areas nice confluence of Fib area. Support: 1.38565, 1.38435, 1.38130 Resistance: 1.39250, 1.39460, 1.39705, 1.39955 - 1.40 IF we go below 50 EMA - I'd say bears will gain control. Pay key attention to 1.39 half area! Key tip: Don't go following or copying other peoples plans - Add further CONFLUENCE - Follow your own trade plan! It's more prosperous in the long run. Have a good day. Trade Journal (Disclaimer: Just a trade idea, not a recommendation)
by Trade_Journal
1
GBPUSD - Potential Short (SELL) Entry DevelopingGBPUSD has continued with it's bullish up-trend with the current risk-on market sentiment. I've identified A potential level for an overdue retracement at the 140.0 level - this is a strong psychological level, and it also aligns nicely with the current bullish trend line. I've identified other factors including correlation which supports this short term retracement idea. Shorting GBPUSD is a high risk endeavour at the moment and this is the only area with the highest amount of confluence for a "safer" short attempt at the moment.
Short
by ZakTheMak
1
GBP USD - Bull target imbalancesHello Traders and Analysts, A Note before reading - this is a forecast analysis - based upon our trading strategy. Please do not take this as face value. Master Key: Purple = weekly Blue = Monthly Orange = Daily grey = 4hour pink = 1 hour What is the chart currently showing us? The current situation for the 4 hour chart shows us some good offerings within a trading range. There are lower time imbalances at play - where price has been consolidating. But has now broke our range high and produced a rising channel. The Fibonacci from the range low to the range high - saw a nice retracement to the 61.8% to 1.356 zone. From here, price is now at the extension -0.272 where price will look to find a new support and break through to the new targets. Where will price take us from here? The USD will continue to see a deepening soft dollar, which is what the US want right now to keep pushing the stocks into 2021 with cheaper import/exports as a major player. Furthermore a cheaper dollar will boost 2021 visitors to the US and see Gold rushed to as a hedge of inflation . GBP we have a weekly zone the pound has now surpassed creating a good new daily demand to move further. The monthly zone towards 1.50 as our target for a position buy. Before this zone on the daily to take us to 1.44 on our weekly zone. Here is our previous analysis whereby price is moving towards the upper imbalances. When it comes to the USD, we have now been seeing continued devaluing of the USD into 2021 with the Biden administration. The FED injecting 22% of all USD in circulation within one year. A Staggering amount of est $9T USD was injected to save the US from collapse, despite its ever mounting debt of as it stands 11. 01 .2021 $27.775T USD www.usdebtclock.org The question remains as the USD loses value - in order to promote cheaper investment and more prospects for cheaper imports - the country will have a real issue with the constant cycle of financing debt upon debit. With the Global fiscal policy to remain between 1.5-2% - this should keep the FED side lined for a few years monitoring the US and world economy. What we would expect to see will be the growth of EM and commodity based countries in terms of FX to continue the growth against the USD. Why is the GBP USD continuing to climb? The weekly zone has now been intact within the weekly zone showing a good price engineering move which took 'steam' off the the bulls with a healthy retrace. See the monthly chart to show the clear imbalances: Whilst fundamentals are important, it's clear to understand that the key levels of inefficiencies where the chart shows us key levels. For example, a previous bull run after 'Brexit announcement' - see the 2017, 2018 bull run. If you enjoyed our work, please ask us a question. Why follow us? 10 years combined analysis experience in world markets. Technical breakdowns using our strategy Ignore majority of fundamentals. Trade for swing, positional trades. Update our explanations where we can. Keeping things simple for ourselves and you. If you like our work, please leave a like or comment. To all our followers, we appreciate the follow and likes. Regardless we will continue producing analysis. Thanks, Team LVPA MMXXI
Long
by LupaCapital
2
GBPUSD - Is it time to FADE?WEDNESDAY - Half way through the week! GBPUSD - I like the long side for GBPUSD for months. It's a great trade that has had great momentum, I stuck to my trade plan, being disciplined is key and built long positions along the way - I am now scaling out of my positions! On my FX weekly I posted out to various groups I am part of - It's FREE to subscribe. It's explaining the FX majors for the week ahead, if you're interested - Message privately. I stated GBP above 1.37 you'll get 1.38 coming into play as well as perhaps 1.40 areas...However, for those who have been trying to fade GBP for while, You may just get your chance...Let me explain further! Technical Aspects: Pattern: Channel - At resistance Fib Retracement - Fade Area Support: 1.37830, 1.37580, 1.37370 Resistance: 1.38250, 1.38550, 1.38600, 1.38860 Fundamental events: 1. US CPI 2. BOE Gov Bailey Speaks 3. Fed Chair Powell Speak How could you play this trade: - Following your own trade plan to add further confluence - You could wait for candle formation, candle close, bearish pattern or perhaps an indicator that is on your trade plan - Add orders at certain resistance zone areas Have a great day ahead, Trade Journal (Disclaimer: Just a trade idea, not a recommendation)
by Trade_Journal
12