🚨GBPUSD HIGH PROBABILITY BUY SETUP🚨 * Here we can see clearly the next potential move for GBPUSD in coming hours. * EP(BUY STOP): 1.27077 * TP1: 1.27880 * TP2: 1.28328 * SL: 1.26477 * Keep your eyes close on your trading positions. * Happy pip hunting traders. * FXKILLA *
if you look at the current falling price, it is possible that wave b is still not complete. this swing that occurred formed an FTR (failed to return) pattern, the price failed to return to the SnD area. be careful if you want to sell, in my opinion it is better to wait for the price to rise back to the SnD area.
Dollar currency Index (DXY) is getting stronger on daily bases and it journey is still continue. According to the GBPUSD chart analysis, GBPUSD is in pressure and following it breakout levels. Better to look selling opportunity on it.
GBPUSD has entered the market by hitting the weekly downtrend line and overlapping it with the daily static resistance, and I expect it to move towards the target according to the chart.
On Friday data, USD become stronger, but GBP become more powerful against the USD. I am much sure GBP will be stronger than USD. I am looking for buying opportunity on it.
Sterling seems more bullish against the USD. As we all knows that the market condition of USA is not good and the politics instability decreasing the value of USD.
DXY is strong against the sterling pound. I think EURUSD will rise little bit more and will go to resistance, sell only if you got a rejection otherwise don't trade.
Wait for the rejection from the supply zone. I suggest you before selling it, have a look on DXY.
The market of GBPUSD boost because USD getting weaker even the data was in the favor of USD. Its mean soon or later GBPUSD will fall back. I have mentioned two selling points keep focus on them.
The market of GBPUSD is trying to testing it's previous HIGH. We also knows that British Prime Minister has resigned from it's post which can also put down the GBP just because of the Economic conditions.
smart money opened long and short positions (hedging) , 8k shorts removed by last week , due to profit taking of shorts in last week price retracing upside. its better to waif for the levels for long and shorts rather than entering roughly. 1.1430-1500 supply zone for short. stop loss might be 1.1540. target: 1.0810
Price formed a recent resistance at 1.0873 & support at 1.0737 while also moving by creating higher lows into the resistance by following a shorter TF uptrendline. so if price makes a break & close above the resistance with these higher lows, then it could move all the way up to the next resistance at 1.1201. However a breakout of the recent support at 1.0737...
Price seems to have created a recent resistance at 1.0596 after forming a new low at 1.0352. now if price respects the recent low as support & makes a break & close above the resistance then price might continue to push up to retest the next resistance at 1.0833.
the price current moving facing support at 1.1352 & resistance at 1.1445 while moving in a downtrend channel. now if price respects the resistance & closes below the support, then price continue moving in respect to the downtredn channel creating new lower low. And if price breaks out of the resistance then it could go for some retracements & possible short trades...
#GBPUSD - Currently the MARKET SENTIMENT for GBPUSD is on the DOWN SIDE. All MARKETS including STOCKS and STOCKS may be DOWN due to MARKET RISK OFF. It affects the POUND greatly. GBPUSD may be slightly UP after this DOWN. - The price can definitely move up to the SUPPORT LEVEL below the GBPUSD. The reason for that is because there is a good DOWN SIDE BIAS...
weekly chart making lower high and lower low. 22nd-25sth weekly chart broke and close below 1.1760 support area of July 2022. wait for retracment to test supply area for short as 1.1815-30. may short more by 1.1895 as well for target 1.1590.
The GBPUSD has formed descending triangle on H4 chart. It is better to look sell opportunity on it.
11th August daily inside bar, did make new high or low, range confined within the previous bar range. 12th August insurance bar further indication for weakness ahead. 1.1970-60 preliminary support area suspect price bounce from there. Need patience for this support break. Stop loss 1.2160, target 1.1840.