GBP-BUY
EURGBP about to lift offAfter price broke structure with momentum, it left behind a huge imbalance and a clean POI. Price used supply to retrace back to mitigate the POI and is looking to take out trendline liquidity at the same time. Our overall orderflow is currently bullish, so area is a good place to join in on the ride to the upside.
EURGBP for a possible lift offAfter price tapped into higher timeframe POI, it broke structure and gave us a change of character in lower timeframe. The break in structure was of high momentum such that it left behind an imbalance with a clean POI. Price was consolidating before the expansion that broke structure, and has now retraced back to that area for one more mitigation before continuing up to fill higher timeframe imbalance and to take out equal long term highs.
GBPUSD BUY ZONE HUGE UPSIDE!!Looking for rejection for a double bottom around the buy zone. After catching the nice short move to current support all profit was closed out and was expecting a move up to continue the down trend pattern or possible reversal, its always risky going against the overall trend but as I explained the other day once we see the initial push up, if prices fails to break past the low point the next time its usually a good indication the price is going to make another swing. I want to see some strength soon from GBP and a break in the USD bulls so I'm definitely interested in taking a position if we can see further rejection from this zone.
GBP/AUD Buying opportunity!Possible buying opportunity for GBP/AUD soon! Recently we have seen and impulse followed by corrective movement within the GBP index and therefore i am bullish on the pound for the time being. This is also evident within GBP/AUD as we can see impulses followed by corrections showing us clear trending movement and the intended direction of price. Taking that we're in an uptrend into account we need to look for another buying opportunity. Price is currently showing nice descending corrective movement which could create a higher low in the market. The level i will be watching for price to come into will be the structure and 61.8% Fib retracement level marked on the chart. if we see price stall at this level, followed by a nice momentum bullish candle on the 2hr time-frame then i will be looking to enter. My take profit will be the daily key level in the region of 1.89500.
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GB/JPY Long Entry GBP/JPY also just witnessed a -1.17% correction towards the levels of 153.00, undoing all of the gains it has made in the last 10 days. As this was just a big move in price if GBP/JPY was able to find support and stabilize there is a high chance that the price will rebound and climb several hundred points before making its decision on whether to go to the upside or the downside. GBP/JPY has just created some support around this level indicating that this could be the beginning of the bounce. The RSI indicators on the 30m and 1hr are very oversold which complies with this analysis. The stop loss area for this trade is below the key support level of 152.6.