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Gbplong

Short-term GBP buy setupGood Morning Traders, The GBP 60 minute timeframe currently presents a small consolidation with the potential to break to the upside. I've placed my entry order at the 1.32436 level (red line) however will be watching the markets throughout the day to make sure the first fib level holds. I'm expecting the consolidation to break out today. There is not much heavily scheduled GBP related news today however some economic data comes out of the US later on in the afternoon (UK time). I will be updating the idea as I go along however bare in mind this is a very short term trade. Stay tuned. Ike
Long
by IkeOkeke
LONG Live The Queen As discussed previously, the value of the American Dollar is expected to fall in the coming weeks and months. On the other hand, the notion of a "No Deal Brexit" supports the belief that the British Pound may be getting weaker. However, despite the political and economic turbulence that Great Britain may be facing due to the idea of a "No Deal Brexit," the pound may actually be getting stronger. There is a weekly head and shoulders that should be completed by the end of the week. With a confirmed break above the neckline at the 0.382 fib level, look for a move up to 1.36000 which falls on the 0.618 fib level. Ultimately, we should look for the upward movement to test a strong monthly resistance at 1.37000 (possibly during the week of the Brexit vote) and a potential break above the resistance that would result in a strong and long-term upward momentum.
Long
by Ash_C
Short GBPAUD on shoulder pattern formationPoor AUD data overnight with building approvals dropping 8.4% for the month of Dec vs expectations of +2% took AUD down overnight leading to a 40pip bounce in GBPAUD. The pair is in process of forming head and shoulders with the spike on poor data failing to breach the neck line at 1.8100 area. This is now the third day in a row to fail to break above 1.81 and hold. Looking for retest of 1.79 area into RBA meeting (AUD central bank) tomorrow and over the coming week
Short
by forexTrdr
1
GBPCHF - Continuation PatternHey! We have a continuation pattern on the GBCHF called Bull Flag. To confirm bullishness we have to get at least 1H candle close above the bull flag and above the red trendline. Last weekly candle got a pretty nice rejection from the bottom - Double bottom formation - and now the breakout from the bull flag will confirm that next leg upwards. A possible scenario is also a break above the red trendline and above the bull flag, retest those and then it is ready to go! Follow your money management and trade with care! Please, don't forget to LIKE, COMMENT & FOLLOW! Thank You for your support, I really appreciate it! Have a nice week! All the best! *This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Long
by VaidoVeek
GBPCHF approaching resistance, potential drop!GBPCCHF is approaching our first resistance at 1.2863 (horizontal overlap resistance, 61.8% Fibonacci extension, 23.6% Fibonacci retracement, descending channel resistance) and a strong drop might occur below this level pushing price down to our major support at 1.2283 (61.8% Fibonacci extension, horizontal swing low support, 76.4% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance and a reaction off this level might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
1
EURGBP 60 Minute ContextSometimes we have just too much bars on the chart. But even then, it's possible to get what's going on if you give yourself some context. Most important are the real swings. Pitchforks of course project the most probable path of price, show extremes and even the balance at the centerline. So what's up here? Well, price is at the Centerline of the white Fork, after it overshoot the upper extreme the second time. From here, building a position could make sense if you want to play on the long side. P!
Long
by Tr8dingN3rd
Long GBP/USDFundamentals:- We are taking a short term Fundamental view on the GBP/USD at the moment. The USD has gone from strength to strength for many months now; every so often it will produce a pull back and some profit taking. The short term data has been a little worse than expected and with the MPC changing its interest rate vote recently we could see a continuation of the GBP strength, at least for the short term. Technicals:- As you can see from the 1 hour chart we are hovering around an area where there is plenty of support and resistance levels. The recent push up is a sign of buyers coming back into the market, however at an over bought price on the 1 hour chart and current resistance would suggest a slight pull back in its upward path. there is a nice stepping upward pattern on the 1 hour and 30 minute chart as in the pic below I would expect a poke at the bottom line and a fake breakout as the week draws towards the NFP figures at the end of the week. Overall a retest of the 13330 on short term sentiment is a strong possibility which I intent to profit from buy limit:- 13177 stop loss:- 13107 take profit:- 13340
Long
by FreeForexSignals4u
EURGBP - A deeper look on the lower timeframeHere's the chart I've posted about the Short in this pair. With this chart, I want to give a more in-depth view on the hourly chart, although I only manage my trades in the original chart. You see the Blocks (orange & red). These are very often important structures. They have their merit, and we can get useful information from them, supporting our decisions in trading. The downsloping yellow Fork shows us the most probable path of price. Now, price reached the CL already. Then a decent pullback, leaving structure (red Block) on the chart. After reaching the U-MLH, price got a natural rejection (price is stretched) and then released it's energy to the downside (pink WideRangeBar). Of course, it must pull-back, just to take out the weak hands, sametime running into the next structure - the red Block. From here we will see a important decision playing out - Bears vs. Bulls. Keep in mind that the really important part plays on the higher timeframe. So this is just a more insight into the playground of the madness §8-) P!
by Tr8dingN3rd
GBPUSD BULLISH BREAKOUT TRADE SCENARIO - 14X RISK/REWARDWe have a strong bullish breakout of the Kumo cloud, a Kumo twist, and a nice bullish RSI divergence. Upper boundary of Kumo along with the Fib level held as a nice resistance. Lagging strand of the Ichimoku graph has not collided with previous prices--yet. This is a signal for consolidation. There are a few possible plays here: a minor channel-based play with an exit in the middle of the black consolidation area; a buy-in after the Resistance line and exits at or below ~1.358
Long
by Allen4083