GBPTRY - Great Holiday Time :)Starting September 2nd I'll be on holiday in Turkey for 2 weeks.
I've managed to time this holiday pretty perfect, looking at the charts we can see it's been in a steep UP TREND since 2nd of July, although it could be argued it happened after the RANGE BREAKOUT in May.
GBP is now extremely strong to TRY, meaning we get more TURKISH LIRA for our GREAT BRITISH POUND.
If your planning a holiday any time soon, this is the time to exchange your currency.
I will be watching in the coming weeks to see what happens, hopefully we can keep this steep uptrend for several weeks, either way i'm happy to be exchanging my GBP to TRY within 2 weeks.
It's highly probable this up trend will not last, so make the most of it while you can, i'm confident that by the time i'm home the situation will have changed. To me, it looks like we may be about to enter into a range in the coming days.
I'm watching and waiting for either a pullback or a range breakout for entry/exchange, it's NOT a good idea to enter near the top.
Either way, from a travel view point rather than a trader, it's a great time to holiday to TURKEY!
Greatbritainpound
GBPUSD - Daily Bullish signsOANDA:GBPUSD has recently passed an important support zone, indicating potential for higher targets. After a clear pullback to the 1.2830 area, the pair is positioned for a further rise.
The British Pound has been bolstered by a series of positive economic indicators and political stability. According to recent reports, analysts at Investec have raised their forecast targets for the Pound against the Dollar, driven by a more promising economic outlook and favorable political conditions in the UK. This aligns with the technical setup, where GBPUSD is poised for a continuation of its upward movement following the successful retest of the support zone.
Overall, combining the technical and fundamental perspectives suggests a bullish outlook for GBPUSD, with potential for further gains as long as the support zone holds firm.
GBPUSD - 4H rise opportunityGBPUSD has faced three significant bearish pushes right into a major support zone but has failed to break through.
This inability to breach the support, despite repeated attempts, signals strong buying interest at these levels.
Consequently, this consolidation and failed breakdown indicate a potential bullish reversal, with the expectation of a considerable rise from this zone as buyers regain control.
GBPCAD SHORTSGBPCAD since the beginning of the week have been moving bearish and in respect to this, I plan to stick to the trend, the daily and the weekly also shows the bearish trend, and to follow this I expect this pair to retrace to the 50 Exponential moving average and we short to the 800 Exponential moving average.
GBPUSD Critical Pointthe pair is in a rising wedge and can make a good decision about the side to move
as we could see in past the price was showing some divergence with MACD (linked) and being in a rising wedge could be a good sign to short it
but from the other side we can see that it has broken the resistance and it is currently retesting it from the above so if it stands as a support we can be longing it too.
better to have an eye on DXY as well (Linked)
we believe it is better to wait and see which side it is finalizing and then surf it to the defined TP.
GBPJPY SHORTAs we can see price has it's last level to be done with the trend, and also a bullish wedge pattern that signifies continuation of trend, these two alone, is okay to confirm the bearish movement, so the next option now is to go to the lower timeframe and look for sell confirmations.
NOT A FINANCIAL ADVICE.
GBP / USD - Yearly Chart Concern!Today I am charting the GBP (Great British Pound) / USD (US Dollar) on a yearly chart over a multi-year period.
I put it on a parallel channel and noticed on the yearly chart that multiple bear flags have been forming. The next bear flag formation measured move is around 0.78-0.80. Let's hope it reverses!
This is a multi-year chart so don't expect everything to move quickly. When zooming out, the GBP / USD looks bearish.
What are your opinions on this? I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #millionaireeconomics
GBPUSD Entry - Continued Bull Market 1.37656 NOV 15-17th British Pound started my whole adventure in Fish N Pips. I'm trying to validate which currencies will swing and the impact on the dollar. The technical analysis on the Monthly chart is Bull Trend for $GBPUSD. I consider new entry point in few weeks as the RSI band nears the tipping point in the Gann Fann 8/1
Happy trading!
gbpjpy longGBPJPY has been on a bullish movement for long now , there could be retracements , but for now i believe it will go continue on a bullish movement till my support and resistance lines
if it does go for retracement then in a few days - weeks from now ill look for more bullish movement from the fib , once its done with retracement
GBP/USD Is At a Difficult Position - Here is How to Trade it.After a fantastic trade set-up for GBP/USD on my previous idea where we saw that indeed the confluence between the support zone and the trendline caused the price to go up, we are now at a difficult situation.
If you were long already a great place to exit could be directly underneath the horizontal resistance. However, if you're not in the trade at the moment this is not a good moment to buy. Instead, I suggest waiting until the price reaches the resistance and go short there for a better risk-reward on your trade.
For the take profit position, you can see that I deviate from my normal suggestion. Instead of taking profit at the horizontal level, I decided to be more conservative here and suggest holding to the trendline only. The reason for this is that the ascending trendline indicates a bullish trend overall, and therefore I feel waiting until the horizontal support would be too optimistic and risky.
- Trading-Guru
This 544 Pip Opportunity Is Backed Up By Confluence!In this idea on GBP/USD we find confluence of two major chart patterns. A supporting trend line and a horizontal support zone.
In trading, the presence of confluence refers to a circumstance where multiple technical analysis factors collectively form the same indication. Since multiple factors are combined, confluence has the potential to greatly increase the reliability and accuracy of trades. Arguably confluence is the most important probability enhancer in trading.
The support zone is created due to the S/R flip. Besides buying at support and selling at resistance, the ”Support/Resistance Flip” principle provides reliable entry opportunities. Although supports and resistances are likely to hold, they do not always hold.
After a support or resistance is broken, the level remains useful. This is due to the general trading rule that a broken support becomes resistance, and a broken resistance becomes support. In other words, once a broken resistance level gets retested, it tends to act as support. This concept is particularly reliable when a support or resistance level breaks on high volume.
Together, this marks a very high probability reversal point. I see a great potential here for a 544 pip trade set-up.
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- Trading Guru
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
BULLISH FLAGFinally the INVERSE AND SHOULDERS is broken and we have a another chart pattern formed on the NECKLINE in expectation of the retest giving us a FLAG pattern which signifies the bulls are currently in the market
Just leave me a comment in the comment section and tell me what your thoughts and also a thumbs up if you go with me