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Gbpusdtechnical

GBPUSD Technical Overview And Key LevelsKey Fundamentals: BoE’s Carney could not convince the markets for the further rate hikes. Markets need to see very strong macroeconomic data flow on the UK side. Even the negative US Job data could not stop DXY bullish run. You can read our latest DXY analysis Weekly Chart: Strongly Bearish. Cable is below all main Moving Averages. Testing the Murrey Math Lines 1/8 a 1.29400. Daily Chart: Strongly Bearish. MM Pivo4 at 1.29400. RSI has more rooms downside. H4 Chart: Bullish Butterfly did not work. GBPUSD made 60 pips of retracement at 1.29700 and reversed at Fibo 38.2% of CD leg. We expect the price to test 1.2850 0 support after the breakout of 1.29400. A minor retracement may happen at 1.28500. Break below 1.28500 will carry the price towards 1.26500. Intraday trading opportunities will be published for the members.
Short
by chartreader_pro
GBPUSD Technical Overview and Trade IdeaGBPUSD Technical Overview and Trade Idea The pair is trading at 1.31410 as of writing, above EMA 50 in the H4 Chart Time Frame. A bullish view. GBPUSD is consolidating between 1.31570 – 1.31200 as seen on the H1 Chart. The next step of the Cable will be determined by the direction of the breakout of this consolidation zone. Scenario 1: 40% probability. If the pair breaks above 1.31600, 1.31830 and 1.32380 will be the next targets. At 1.32380 we have a bearish shark pattern completion. Our Trade will be ” buy ” close above 1.31600 targets 1.31800 and 1.32350 and sell at 1.32350 – Bearish Shark – Scenario 2: 60% probability. The pair is testing an important resistance. If the price breaks below 1.31200 , 1.30650 will be the next target. And our trade will be “sell ” break below 1.31200 targeting 1.30650. Visit our web for more
Short
by chartreader_pro
GBPUSD Technical Analysis and Bullish Bat PatternFundamentals: On the Sterling side, we will have a quite London session with no major macroeconomic data release. Brexit negotiations continue to grind to a stuttering halt, with key drafts from the June EU summit showing little to no resolutions to the current Irish border issue, and the EU’s Bernier is warning people that they need to be prepared for all possible outcomes, including a “hard Brexit” scenario, one where the UK goes ahead with separating from the EU without any kind of trade agreement in place. Traders’ focus will remain locked on the upcoming Bank of England (BoE) rate decision, due on Thursday at 11:00 GMT, where the BoE is expected to hold off once again on a rate increase. On the USD side, we will have Home Sales figures which seems to be a fewer effect on the pair. Brexit and Trade Wars are likely to remain as the determining factors . Technically: Cable is trading 1.31600 as of writing. From the indicators point of view; 1.30600 appears to be the main support for the pair as the MA 100 in the weekly chart. The near-term trendline support is located at the same levels. On the H4 chart; 1.31540 and 1.31200 are the key support levels. If the pair closes the day below those support levels, the next target will be 1.30600 – 1.30400 zone. On the H1 chart, we see a Bullish Bat harmonic pattern. Today we will start to buy GBPUSD for midterm purposes. Our stop loss is 1.29000 and targets 1.33000 , 1.34200 and 1.34800 Intraday Trade Idea is to follow the bullish bat formation. Long entry zone 1.31600 – 1.31200 , stop loss 1.30400 targets 1.32800 and 1.33500. Good Luck
Long
by chartreader_pro
100 pips GBPUSD - short-term [weekly] price action outlookAfter market opening on 9 April 2018 the GBPUSD moved just over 50 pips long. Fundamentals still support another 100+ pips long. 1. The USD: PPI - red news due on 10 April is likely to support further upside price movement in the pair. 2. With the upside trend intact as per the Daily & 4hr chart, the GBP: Manufacturing production-red news release, should be able to provide additional fuel for the upside in the GBPUSD. 3. The USDX weakness that is still @ play is nicely supporting the long bias in the GBPUSD. 4. Hopefully the USD: cpi - red news release on 10 April 2018 will continue to support the weakness in the USDX. Not forgetting the most anticipated meeting minutes from the FOMC on 10 April 2018, which will likely put a spanner in the works if it comes out more HAWKISH. If the long price action in the GBPUSD is maintained after all the previously mentioned red news releases of this week, then on 12 April 2018 when BOE: Governor Carney speaks, we will probably get the last boost in the GBPUSD to take price through 1.4245 And that, ladies and gentleman, is how another 100+ pips is possible Then again, anything can happen.
Long
by FrametheMarket101
3
GPBUSD Midterm Forecast And Technical AnalysisThe picture is clear and bullish. We have a long trade based on Bullish Butterfly and we have reached the first target @ 1.40800. And Long Trade based on Bullish CwH to add long for ISHS pattern. Now, let us take a look at the fundamentals: NFP report was highly disappointing. However, we do not think that would make an aggressive negative effect on US Dollar. Subsequently, the US unemployment rate also dwelled at the unchanged level of 4.1% instead of falling lower to 4.0% as expected by the market. The weak UK PMIs did not help Cable to fall below 1.39600. Market players are expecting further rate hikes from BoE as we mentioned in our previous forecast. The main concern haunting the financial markets was the ongoing trade wars between the US and China. Technically: The main trend is still bullish. On the Daily Chart, the price is above EMA 50,100 and 200. 1.39600 is EMA 50 support of the Daily Chart. That’s why we pay attention to this level. The midterm bullish trend will continue as long as the price holds above 1.39600. 1.42500 as EMA 100 of the weekly chart, acts as a resistance. We can see the price is “locked ” between 1.39600 – 1.42500 – almost 300 pips – On the H4 Chart: – To see the intraday levels – 1.41000 is the key level for the continuation of the bullish move. If the price breaks above 1.41000, Cable is likely to test 1.41280 and 1.41600. Below the current level; 1.40800 and 1.40600 are the first levels to test. 1.40380 is the key support. Break below 1.40380 will carry the price 1.40000 and 1.39600 again. DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
Long
by chartreader_pro
GBPUSD Cable needs to break above EMA 100 Analysis of H4 Chart Timeframe GBPUSD is trading above EMA 50 Cable needs to break above EMA 100 resistance of H4 chart to continue its upward move. – 1.38850 – Breakout and closed above 1.38850 will carry the price 1.39200. Above 1.39200, 1.39500 – Trend Line and Murrey Math Resistance – is located. Breakout of 1.39800 will be the confirmation of the end of the midterm bearish trend. Stop Loss of the Long Trades can be placed below Fibonacci 38.2 of the CD Move, somewhere 1.38200-1.38300
Long
by chartreader_pro