GBP USD SHORT, FUNDAMENTALS + TECHNICAL GBP USD, according to the US data release today we we will expect US Strong, which will provide a good set up for USD JPY and Of course GBP USD
After this impulse of the pair we will need to recover in order to push lower.
First we have 1.28520 on the cards, However a clean break of 1.30 on the Daily time frames will me this trade invalid.
Furthermore the impulse is great and does not look that will stop now, the relationship between UK-EU is not the best at the moment, this will make the investors give a step back. resulting in a bigger supply of pounds on the market, which will result in a depreciation of the Pound. In another hand we have US coming with positive data.
All the best
Trading Protection
Gbpusdlongsetup
GBPUSD LONG MUST USE SLHi Guys,
GBP will have a very bullish move soon,Its all about Brexit, they will find a good way to make GBP and EUR GP Up
However,
Must use stop Loss on this one, in case something really bad comes out. I dont think so, but just to be safe.
USD is down, GBP is UP ==== Very Bullish move
Buying areas are shown, Stop loss, and Targets as well.
Best Luck
GBPUSD |H4| BULLISH GARTLEY//Recommended Risk Ratio : %2 Max
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Please note I am only providing my own trading information for your benefit and insight to my trading techniques,
you should do your own due diligence and not take this information as a trade signal.
Buy GBPUSD (When triangle break out)Buying GBPUSD (When triangle break out)
Nice setup on GBPUSD as we have couple of major news for tomorrow, currecntly forming triangle or a flag pattern it would be favourable if we buy the pound once the break out happens
Set Buy stop at 1.2780
with stop loss at 1.2710
TAKE PROFIT AT 1.2890
GBPUSD remain bearish below major resistanceSell below 1.2933. Stop loss at 1.2988. Take profit at 1.2854.
Reason for the trading strategy (technically):
Price continues to hold perfectly below our selling area. We remain bearish looking to sell below 1.2933 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to 1.2854 support (Fibonacci retracement, horizontal swing low support).
Stochastic (55,5,3) is seeing a very nice bearish exit signalling that a drop is impending.
GBPUSD profit target reached perfectly, prepare to sellSell below 1.2933. Stop loss at 1.2988. Take profit at 1.2854.
Reason for the trading strategy (technically):
Price has shot up and reached our profit target perfectly. We prepare to sell below 1.2933 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a push down to 1.2854 support (Fibonacci retracement, horizontal swing low support).
Stochastic (21,5,3) is seeing intermediate resistance at 85% where we expect a drop from.
GBPUSD approaching major support, prepare to buyBuy above 1.2830. Stop loss at 1.2791. Take profit at 1.2923.
Reason for the trading strategy (technically):
Price is approaching major support at 1.2830 (Fibonacci retracement, Fibonacci extension, horizontal overlap support) and we expect to see a nice bounce above this level to at least 1.2923 resistance (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance).
Stochastic (21,5,3) is seeing intermediate support above 21% where we expect further bullish movement.
GBP/USD right at major resistance, remain bearishSell below 1.2531. Stop loss at 1.2621. Take profit at 1.2378.
Reason for the trading strategy (technically):
Price is testing major resistance at 1.2531 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance, descending resistance) and we expect to see a reaction from this level for a further drop to at least 1.2378 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing strong resistance below the 94% level where we hope to see a reaction from when Stochastic reaches that level.
Reason for the trading strategy (fundamentally):
The main news event driving USD today is the U.S. ISM Manufacturing survey. It is one of the biggest market moving economic releases because of its Prices Paid and Employment subcomponents which reflect sentiment towards inflation and labor conditions - two of the market's most significant health indicators. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. We’re expecting forecasts of a decrease which means a bearish USD is expected, this goes against our bearish GBPUSD view, hence it is best to exercise caution on this trade.
GBPUSD Strategic View: Turn bullish above strong supportBuy above 1.2415. Stop loss at 1.2250. Take profit at 1.2850.
Reason for the trading strategy:
We turn bullish above 1.2210 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension) for a push up to 1.2400 resistance (Fibonacci retracement, horizontal pullback resistance).
Stochastic (21,5,3) is seeing strong support above the 7.9% level where we hope to see a bounce from.
GBPUSD Seeing strong support, remain bullishBuy above 1.2415. Stop loss at 1.2250. Take profit at 1.2850.
Reason for the trading strategy:
Price is at our buying area once again as we remain bullish above 1.2415 (Fibonacci retracement, Fibonacci projection, horizontal overlap support) to play a bounce up to 1.2850 which is our long term resistance. From there, we can expect a bearish reaction. This is aided by the completion of a corrective structure we have just seen.
Stochastic (55,5,3) is seeing strong support above the 8% level and has made a bullish exit and is approaching pullback support.
GBPUSD below major resistance, remain bearishSell below 1.2481. Stop loss at 1.2527. Take profit at 1.2390.
Reason for the trading strategy (technically):
We remain bearish below 1.2481 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a push down to 1.2390 support (Fibonacci extension, horizontal support).
RSI (34) remains below long term descending resistance.