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Gpbusd

Sterlin sets up for a relief rallyHi guys, today gbpusd is coming back to retest a daily support/resistance zone, therefore i want to look for some opportunities on the lower timeframe. On the hourly there's a nice pinbar that tells me there's buying pressure. Besides, price has also created a double bottom with RSI divergence that you can see on the chart above. The consequent break of structure to the upside makes me think it could go higher on this short timeframe. You can use the 2618 strategy to buy the 618 retracement, with stops below the low and target1 at the retest of the highs, target2 to be determined. If you want to share your thoughts or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
2
GBP/USD [LONG]Good evening traders! Here comes another analasys of mine Enjoy. Who is in charge? That is a very intresting Question that allot of people are asking themselfs right now.. and this is because the sellers are actually in charge if you look att price action from the top left of the screen to were we are now. and because we are looking bearish right now alot of sellers will be looking to go short att the Range highs @1,2743 to then rotate back price down to the range lows @1,2114. but i would like to challenge that tought for a couple of reasons. Reason: (1) If you look closely att the area of @1,2944 on the chart. You will see a very very intresing Gap that has not yet been filled, and if we know anything as traders it is that the market LOVES to fill gaps. (2) If you take a look att the range lows you will notice a very intresting fake break followed with a very strong and convinsing bullish Correction/Trending candle back into the range to take price higher. Good News: Even if the buyers only have fuel to take price up to the previous range highs this gives us enough room to bring our S/L to Entry +1 and even take of half of the position to then let the other half run up to T2 @1,2944. Careful: If you look att the level of @1,2671 you will notice that price has recently bounced of an important level that coul very possibly be the sellers area of saying Hey buyers.. we are not going to go any higher now but retest the lows and make this big range into a smaller range. (and they would be perfectly right to do so) But if you look closely you will see that the buyers actually broke the highs with a wick (unfortenatly not with a full bodied candle) But this can give us some confidense to buy the market when our entry technique arrives. Entry: I am looking to give the sellers some room and retest the Bearish trendline were the moving average is currently att and then wait for a strong Confirmation Trend candle from the buyers.
Long
by Chedric
GBP/USD Closed In ProfitHey Traders, We have closed our GPB/USD trade from yesterday in profit. The reason for the close is that price action has twice rejected the 1.27000 level and we now await a break of this level to resume our buy bias. On another failed break we will consider selling at this level as buyers maybe exhausted and the market will need to drop before buyers re-enter. We of course are led by the market and will inform of when we see a signal to enter again. We captured 82.6 points from this trade which is a great start to the week. We hope you managed to make gains on this pair today as well. Do look out for further trade ideas from us over the course of the week. Trade brave.
by EuroDollarExpert