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Gbpusd4hrs

Forex Market Analysis And Trading Tips Feb 17th 2016SUMMARY: The primary trend of GBP/USD is bearish on charts and price is trading above the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining above 50 day SMA and taking resistance of 200 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 1.4405 and support at the level of 1.4175. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair. INDICATORS:- MACD is sustaining in its negative territory indicating the bearish trend in the pair. RSI is sustaining in its selling zone indicating the upcoming bearish trend in the pair. STRATEGY: GBP/USD is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it. www.tradingsignalreviews.com
Short
by piponomics
Technical Analysis Idea GBP/USD - 04/02/2016The British Pound retains a strong upward tone after of the BOE's economic policy statement, trading a handful of pips above the fresh 4-week high posted last Wednesday, and pressuring the 50% retracement of the latest daily decline between 1.5239 and 1.4078. Carney says the Bank of England expects real incomes in the UK to grow solidly this year, after several lean years. And business investment should also continue to grow strongly. Retracements are now seen as buying opportunities, with short term supports at 1.4605 and 1.4560 ahead of the critical one at 1.4530. This last should keep the downside contained in order to maintain the bullish potential. www.tradingsignalreviews.com
Long
by piponomics
Bullish and Bearish potential setups on CableI have highlighted daily support areas which are confluent with Fibonacci levels. I lean towards the Bearish side, however I would not discount the Bullish targets on screen, especially with announcements from the US today. The bullish or bearish move will depend largely on price action and candlestick confirmation for me. Another reason for leaning to the bearish side is trend-continuation. Here the overall Bear trend is in full force and I tend to lean towards trading with the trend as much as possible. This is an example of some very effective yet basic technical analysis which is tested and proven to work time and time again. Please leave any comments should you wish to do so. Happy trading and I hope you all have a great weekend! Barry the Forex Trader
Short
by barry_fxtrader
1
GBPUSD 4 HOUR SHORT LOTS OF UNCERTAINTY WITH GBP BECAUSE OF THE ELECTION WHICH IS CAUSING THE POUND TO DEPRECIATE. PRICE BROKE OUT OF THE RANGE LAST WEEK AND IT IS NOW LOOKING TO RETEST THE RANGE LEVEL (SUPPORT TURNED RESISTANCE). THIS IS A TEXTBOOK TREND CONTINUATION PATTERN (BREAK,RETEST,CONTINUATION) IF PRICE MANHES TO RETRACE BACK UP TO MY SELL ZONE I ALSO HAVE 2 FIB CONFLUENCES WHICH ARE THE 38.2 AND 50 FIB LEVEL. TARGET BACK DOWN AT SWING LOW WHICH IS ALSO A PSYCHOLOGICAL LEVEL.(1.46000) ALSO PRICE SEEMS TO BE APPROACHING A DYNAMIC RESISTANCE (20SMA)
Short
by remelthomas
POTENTIAL BUTTERFLY PATTERN ON GBPUSD 4H CHART In my trading course (which I would highly recommend) we were talking about advanced patterns today, so I went out on the chart and tried to find and recognize some. My first butterfly patterns I discovered on the GBPUSD hourly and 4 hr chart. I drew it in on the 4h chart because it's just less messy. What we have here is a butterfly pattern where the 1.272 fib extension of the X to A leg, the 1.618 extension of the inverted A-B leg and the potential second leg of the harmonic move (C-D) all line up at the previous structure low (which also happens to be a nice round number) It might of course be a coincidence, but I am keeping my eye on this for an opportunity to go long around this level.
Long
by Nico.Muselle