GBPUSD H4 I Bearish Drop Based on the H4 chart analysis, we can see that the price has just reacted off our sell entry at 1.3148, which is a pullback resistance level close to 61.8% Fibo retracement
Our take profit will be at 1.3067, a pullback support level close to 61.8% Fibo retracement
The stop loss will be placed at 1.12, which is an overlap resistance level.
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Gbpsd
EURUSD GBPUSD Potential Daily Long DXY Short Today the results of the US GDP (QoQ) (Q2) were released stating: Actual: -0.6% Forecast: -0.8% Previous: -0.9%
The results were slightly bullish though economists believe that this is still well under inflation numbers and that the economy is doing better. Still investors and banks are worried that Powell may raise rates at the end of September. Tomorrow Powell will speak at Jackson Hole and the market will be listening for any hints about what he may do next month regarding rates. Currently the DXY has given a daily short signal along with long signals for EURUSD and GBPUSD. These potential signals may be a good opportunity to get into the market, but it may be a slow raise or decline, the market is also waiting for what Powell's speech may bring.
The DXY is at high levels as mentioned yesterday in my article regarding the DXY daily short read that one if you missed it.
The EURUSD pair is having strong daily convergence indicating bullishness. The same can be said for GBPUSD. EURUSD could reach 1.02 while GBPUSD could reach 1.20, though this depends also on what Powell might say regarding rate hikes.$EUR/USD $GBP/USD
Ilyas Khan Top1 Markets
SHORT GBPUSDPossible short position upon reaching the 50EMA and 50SMA.
TP would be around lower low around the trend line at the bottom.
Factor supporting this is UK GOV release of umemployment figure, outlooks does not look promising according to ONS due to COVID19
Constructive feedback is welcomed.
**TOP SECRT** Alien invasion, who stole my foil hat?Get a chart up, find some key levels and look at how well price respects them and how many pips you could have munched on buying and selling off these levels... No indicators were used here, just nice clean charts.
SIMPLE is better in forex and if anyone tries to tell you differently then run a mile ;p
Think of it this way, we all know the world is corrupt so why should the forex markets be any different? Do you not think brokers and the government put information and " learning strategies " out on the internet that are made up b#llshit just to confuse people and make them loose money in the markets? if you think the forex world is all rosy and regulated so nothing like this can happen then go crawl back into your bubble.
Now if you want to learn how to trade and want a change of mind set to enable you to look at trading and even everyday life in a different way then come and chat with us. But if you are happy been f@cked and keep loosing money because you are too stubborn to change anything then carry on doing what you are doing.
Rant over... I'm now off to put my tin foil hat on incase of alien invasion ;p haha