Gbpusdbuy
#GBPUSD, A tremendous opportunityAlthough the gbpusd in a declining/crash trend but the following signs cannot be ignored:
The GBP USD comes to serious support, there are two options - the pound will break the support and fall louder, the pound will rise again and change his trend, anyway as soon as a currency meets serious support there is a Reaction to the opposite side.
The pound is at its historical low against the dollar (If you do not consider the low of 2017).
Target: 1.2380
FREE ANALYSIS ON GBPUSD - about to break upFREE ANALYSIS ON #GBPUSD
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15 Min
Price currently ranging withing the MA's. Tested Trend line and going back down. Waiting for price to break previous top for buy confirmation.
1 HOUR
Price tested the 100WMA and trend line and it was rejected. Bearish outlook with price below all MA's.
4 HOUR
Price still bearish. waiting for trend line break for buy signal.
OVERALL
Bearish Outlook but we should see a bullish correction
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Signal with distant target #GBPUSDEvery currency against the dollar is given a new review after the latest news (the Fed yesterday).
After we reach target 1.2510, we change our sell signal to buy signals because we are close to support as seen in the above chart, the target may be as soon as the Pound approaches resistance, we recommend target at 1.2915 just before moving average 200.
GBPUSD at DEMAND ZONE: Possible BIG BUYWe have seen a persistent weakness in GBPUSD for the last 2 months due to Brexit related jitters. I believe markets have priced in a NO DEAL scenario for Brexit which is why GBPUSD is now consolidating at the demand zone.
That being said, any kind of positive development in UK politics will surely push the Pound higher versus its counterparts.
GBPUSD is now at a STRONG DEMAND ZONE. In the previous occasion, GU has made a very strong recovery from this area.
Yesterday's daily candle looks promising as well.
If price doesn't break the 1.24500 area, Traders can look for BUYs between 1.2490-1.2550 area with SL below 1.2410.
TPs can be set at 1.2750, 1.2930, 1.3080 and 1.3400 respectively. This is a long-term set-up of course.
But even now, this set-up is relevant.
GBPUSD LOOKING GOOD FOR BUYERS We have seen this pair show some great bearish momentum. We can see price reached some support and moved bullish creating what we refer to in classical technical terms as an inverse head and shoulders pattern. Price pulled back 50% where i have plotted the grey line and from here we may see a continuation of the bullish move.
Grey line - entry
Red line - stop loss
Green line - Take profit
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