GBP/USD Get prepared for short positionsHI Dears
If you look carefully at the chart of the British Pound (GBP/USD) you will see the bearish scenario.
I will tell you the reason by the RTM method.
The price made a powerful 4h FTR and also an MPL zone. after that, the price broke the 4H trading range but in fake mud to gather the liquidity that is needed for a powerful downtrend.
After that the price starts its downtrend and also the MPL zone is engulfed.
so we go back to the base of the POLE.
Sincerely
Hosein Poursaei
Gbpshort
Finally GBPUSD Ready To Short!GBPUSD create Strong bearish divergence with a rising wedge pattern . And surely there was an unmitigated order block, now it has also been mitigated!
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Mahfuz Azim
GBP Short Setup Straight forward short setup for the GBP / USD .
Perhaps this is too obvious but either way i present to you a nice short setup with easy invalidation .
At the target box we have the 200EMA sitting with .618 fib and the point of control of the range *POC
I don't think we go straight down from here although of course that's possible but i would like to see a
reaction at the level provided and then perhaps a move back up to take out those equal highs before the real move down .
With NFP tomorrow perhaps this is a scenario which will play out during this time .
Trade with a clear invalidation and like follow to support me .
Thanks for stopping by
GBP rebounded strongly, beware of traps!GBP/USD
GBP/USD continued its technical correction rebound in the short period and climbed above 1.190.However, from the daily line, although GBP/USD has rebounded significantly, it is not enough to change the daily short trend, indicating that the overall trend of GBP/USD at a large level is still weak.In the 4-hour chart, the short-term sustained rebound caused the market to get rid of the weak downward channel and return to the previous level of the channel. Although it still belongs to the downward channel as a whole, the short-term weak market has been technically improved.
At present, there has been a decline in the rebound market, which proves that the upward momentum is gradually being consumed, but as long as it can be maintained at the position above 0.190, it is possible to challenge the position above 0.196. If 0.190 cannot be supported, the pair may fall again and touch the boundary position of the descending channel line.
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GBPUSD: Trade within this range
Currently, the market is still fluctuating within the support range, and overall it remains somewhat weak. However, there has been a significant decline recently, and regardless of the variety, it is almost certain that there will be a rebound after a major drop, with the difference being the size of the rebound.
Therefore, the current trading strategy is to go long at low levels and short at high levels.
Specific recommendations:
Buy in the 180-183 range and take profit at 1.192-1.196.
Short above 1.196 and take profit near 1.184.
GBP/USD: SELL Signal and Price Drop...he GBP/USD pair is facing downward pressure, with bears attacking the 1.2000 psychological level over the past three days. Brexit-related challenges and a rally in US Treasury bond yields are contributing to the decline, although there is limited action in the market ahead of the London open on Thursday. The Telegraph reported that the Democratic Unionist Party is dissatisfied with parts of the EU-UK departure terms over the Northern Ireland Protocol, while a Financial Times survey found that two-thirds of UK businesses believe government plans to disentangle British and EU law will cause more uncertainty and not increase economic growth. Bank of England Governor Andrew Bailey's neutral comments contrast with the hawkish remarks from Minneapolis Federal Reserve President Neel Kashkari, and the UK S&P/CIPS Manufacturing PMI data was downbeat compared to the upbeat details of the US ISM Manufacturing PMI. Additionally, inflation concerns and fading optimism over China's economic growth, as well as Sino-American tensions, are also putting downward pressure on the GBP/USD pair. US Treasury bond yields rose, reflecting market fears and weighing on S&P 500 Futures. The US Dollar Index (DXY) bounced off a one-week low to 104.60, up 0.17% intraday, amid a risk-off mood and firmer yields. With a light calendar, GBP/USD moves may be restricted and could remain southwards before Friday's key US ISM Services PMI and final readings of the UK S&P Global/CIPS Services PMI for February.
GBPUSD 4hrs bearish ProjectionAfter a major impulsive phase last week where we bagged some pips. I expect a little pull back at this support level and i have also marked my entry zone.
But if price breaks the support and continues to move downward, i will wait for a pull back re-adjust my entry and find a sell position.
GBPUSD is bearish on higher time frame, i'm just basically looking for short opportunities for now. However market conditions can change anytime
What's your thought on this? please like and comment below
GBPUSD 2hr Time Frame (22/02/22)While I am currently bearish on GBPUSD in the short term after it broke below the support trendline on the daily timeframe, the price has also pulled back and retested the breakout zone. However, there doesn't seem to be enough selling pressure to push the price down further at the moment.
I am anticipating more bearish impulsive selling in the coming days. However, if buyers continue to push the price higher, this would invalidate my prediction.
What are your thoughts on this? Kindly like and share your comments below.
GBP/USD grinds higher, but bears eye break of 1.20US producer prices, manufacturing and housing data in focus
No miracles will be expected for US housing data given the Fed’s hikes, but it will be interesting to see if the Philadelphia Fed Manufacturing Index contracts at a much faster pace, like the NY State Empire equivalent did yesterday. And with US retail sales hitting a near 2-year high and inflation hotter than expected, all evidence points towards a soft landing for the US and a case for more hikes. And that view could be bolstered if US producer prices come in hotter than expected today – and it could further support the US dollar on hawkish bets.
GBP/USD 1-hour chart:
Whilst GBP/USD has dragged itself from its post-CPI lows, key resistance looms and momentum could favour further downside. Yesterday’s soft-than-expected inflation report for the UK came as a welcomed surprise, which helped the pound quickly erase all of Tuesday’s hot employment gains. After briefly trading below 1.20, GBP/USD has produced a countertrend move in the form of a potential bear channel / flag. Given the relative hawkishness of the Fed and strong US data, my bias for GBP/USD to break below 1.20. So I’m now looking for evidence of a swing high around or below the weekly and daily pivot points (a break above which invalidates the bearish bias).
Note that the downside band of 1-day implied volatility is just beneath the daily and weekly S1 pivots, and the downside band for 1-week IV is just below 1.1800.