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GBPUSDOn the weekly timeframe, this pair is following a bullish trend. On the daily timeframe, we see that the price bounces on the same line as the weekly trend. On the H4 timeframe, a steeper bullish trend than that of the daily and weekly timeframe. On the H1 timeframe, we see some bounces off this H4 bullish support line and that prices may be reversing due to the bearish candles. Currently, we are waiting on prices to fall to the H4 support line before we see any bullish moves up.
Long
by Godfather-Pips
1
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