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Cable

GBPUSD December OutlookThe cable has had a bullish run so far for some months. A swing low(as shown in the chart) was formed and price continues its bullish run. I expect price to continue its bullish run to the order block at the 1.3700 price level (also shown in the chart). There seems to be a lot of liquidity at the level as a result of relative equal highs which makes it an added confluence and high probability to go bullish to the order block. As per the analysis I expect a 'bullish cable Christmas'. haha. Follow me for more trade ideas and general market commentary
Long
by Jay1906
CABLE BIG PIX! - Bullish Wedge BreakOut Targeting 1.5000 In 2021Now that GBPUSD has violated the monthly bullish wedge (as explained in our 22/11/2020 post below), bullish rally may commence in 2021! First obstacle is at 1.4000 level which may likely cause the pair to pullback towards the first bullish-order-candle at 1.34000 level (or deeper at 1.25000). Any price rejection from thence will then be targeting 1.50000 and above. N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
Long
by BullBearMkt
2
CABLE (GBPUSD): WAVE (C) in play - daily chartI think that we are in a corrective ABC structure inside a wave (C) in the daily chart. According with this count we may are inside a bigger wave 4 before another big dip for the wave 5, or the previous impulsive movement may already be over also. So if this count is correct we may have 3 different potential targets for the completition of this (C): 1) 1.374xx in case of a regular flat 3-3-5 ABC 2) 1.43 in case of an expanded flat 3-3-5 ABC 3) 1.518xx in case of a running flat 3-3-5 ABC (that's the mostly rare case of this type of corrections, so this target will be difficult to reach i think, but not impossibile) Lets see what will happens!
Long
by fra978
GBPUSD - Brexit drama? How can I trade GBP? GBP - What a great currency - I say it's like marmite you either love trading this currency or hate it...It's been a tricky pair due to brexit drama. I remember trading on demo account when Brexit was announced shorting it with a good well established friend of mine in Africa...It was great fun even on a demo you do learn a lot as yrs go by . Now I do have a nice real portfolio I manage, and I look at GBP and all that comes into my mind is first is go and look at monthly chart and secondly - 1.40 could be coming shortly....! It's a very headline driven market for now However, let's not get carried away let me break it down for you. Technically we are bullish within the monthly - which I will go through my yr ahead outlook video of 2021. There are so many bullish formations for GBP that reaches towards 1.40 area, but we need to pass 1.36-1.37 areas first those are next resistance areas and the daily close we got above 1.35 technically we are BULLISH! But does this mean you just get in now? Well no, go to lower charts find a good entry point using price but I am now going to speak about fundamental impacts on Brexit. (Use your own trade plan) Fundamentals: I know, I know for yrs we've been talking about this Brexit - Will it be over by 31st December or will we continue into 2021?- Sure I won't be working on Christmas day only day I am taking off but I will be looking at my desk looking to see updates, fishing out any information I can get - I would recommend you to even invest in a good squawk service head-lines will be coming out and the price of GBP the moves be interesting, keeping a good amount of stop I would recommend for this pair for now. I feel if we do get deal the euphoric energy will come in we should hit 1.40 areas but then I do have other views where I feel at 1.40 things could take a turn and if we don't get deal sure GBP will decline - Now, why 1.40 Why and how will take a turn? - Well, wait for next week for my 2021 outlook tune in - I will be explaining further why!! Also keep in mind if we do get QE from USA - that will increase GBP and other majors too. Lets see what congress does....! If you are interested in the UK market - Check out my FTSE100 analysis post as well! All the best, Trade Journal
by Trade_Journal
4
GBP/USD IdeaPrice seems testing 1.350 major level which also corresponds to our point A of broken trendline. On lower timeframes price is creating rejection candlesticks and yesterday also made a new HL indicating a change in market structure and a possible formation of trendline. I wait for a cross of moving averages (EMA 8 and EMA 14) and a formation of a new HL before entering a long trade. We also should consider a break of 1.350 key level due to brexit news. In this case our bias will be bearish aming point B of the broken trendline as TP. In the last idea we were short but a change of the market structure led us to close the trade. Like and subscribe for more!
by marcomihaicondrache
EURUSD- Potential Bullish continuation?!Technical Analysis - EURUSD has been in a uptrend since 25th may 2020 and has shown strong bullish momentum ever since. - There has been loads of confluences shown in the higher time frames which indicates that we should be looking for buy this pair. - 50 and 200 EMA added confluence to go long as it shows bullish trend on the higher timeframes. - On the 4 hour we can see an ascending triangle which is another confluence for me to buy and a good opportunity for me to enter on the reversal of the resistance turned support of the triangle. Fundamental Analysis -The fundamental news for the this week shows loads of high impact news on the US Dollar 10 high impact news releases for the week. -These impact news include news : retail sales, crude oil inventories, fed interest rate, FOMC press conference and many more... I would be wary trading around these news releases as impact news can have a major impact on the EURUSD pair such as price spikes, sudden change of trend. Sentimental Analysis - According to COT Data, there has been a large amount of orders as 62% of short positions have been placed on the US Dollar in the past week by commercials (banks). - This could show that there could be a potential reversal in prices to the downside to catch out the retail traders who are long on this pair. Please make sure to follow, like and comment your ideas/opinions on the EURUSD!
by LDForex_
2