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Gbpusdbuy

Flag Pattern on GBPUSDHey guys, this is the 4hr chart on GBPUSD. I'm looking at this because i think there could be potential for upside: we've just bounced from 1,28 (a daily structure) and in doing so price broker and closed above an intraday resistance (purple line). The next daily structure comes at roughly 1,3023 and therefore i'm expecting to see a continuation till we reach that point in the market. I'm even more convinced by the behavior of price action that's formed a flag pattern and also has broken that flag to the upside. Price is now coming back and this level is ideal for an entry. I set my order right at the blue line, with stops and targets as shown on the chart. If you have any question/idea, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Buy GBPUSD After the impetus started on June 21, it seems to have come to an end on the 30th, forming a corrective stage. Apparently this correction came to a support where it shows us confluence, then we have a horizontal level in the 1,286 that does not serve as support, also the price seems to have reached the fibonacci 38.2% of the previous impulse, and we have as additional support to the SMA Of 200 periods, this confluence could be reason to think about a new bullish movement, being conservative could see as first objective the level 1,297 and as second objective the 1.304. To be conservative when opening the operation, reconmando little amount and to add to the position of agreement this advance in our favor, since the price could continue correcting until reaching the 1.279. Good luck in your trading.
Long
by libardojgh
GBPUSD profit target reached, prepare to sell againSell below 1.3044. Stop loss at 1.3081. Take profit at 1.2935. Reason for the trading strategy (technically): Price shot down towards our profit target before bouncing up once again. We now prepare to sell as price is approaching major resistance at 1.3044 (Fibonacci extension, horizontal swing high resistance) and we expect a major reaction off this level for a drop to at least 1.2935 (Fibonacci retracement, Elliott wave theory) which needs to be broken to confirm a major drop. Stochastic (34,5,3) is testing 96% resistance and price is definitely in strongly overbought territory.
Short
by MEX_Exchange