Gu
GBPUSD Sell SetupPrice has been on a bearish trend for a while now. Price action has unfolded unique structures along the way confirming the wave correction.
In continuation of my previous sell analyses and setups, I am currently selling to 1.165.
I would be looking for additional opportunities to sell in Monday and Tuesday sessions. This move should conclude the month long correction.
** As always, trade cautiously.
GBPUSD longGBPUSD long
After taking buyers liquidity GU made bullish change of character (choch).
BJ key levels helps to identify strong support and resistance zones.
I expect price to retest support level which also has clear order block + 50% fibo level. (high probability entry)
Will enter with lower timeframe conformation (3-5 min choch).
TP 1 next bearish OB.
TP 2 max long target where sellers liquidity is sitting.
Good luck:)
GBPUSD Bearish SetupPrice formed a double bottom at demand on the H4, and has since seen a bullish momentum, breaking key highs to form a double top for the next bearish momentum.
Price is still bearish on the higher timeframes. Using Elliot, we can approximate what stage of the correction that is unfolding.
I would be watching for price to begin the bearish momentum at current price or from the 1.21 zone. Target is at the 161.8% expansion at 1.57
GBPUSD Sell Setup ~545pipsGBPUSD is in its final phase of the Uptrend correction, and so still long term bearish on weekly scale.
I would be expecting a pullback to 1.196 before some bullish momentum to grab supply at 1.22.
We might not see large bearish momentum this week, however, there are still opportunities to trade price action.
The target for the sell setup is almost 545pips at 1.165.
GBPUSD: Big Fundamentals - New Brexit Deal this weekend?We could be a kicking off the week with a lot of GBP movement if there is a new trade deal reached between the UK and Europe over the Northern Ireland Protocol. Today, Dominic Raab (the UK Deputy PM) told the BBC that the 'UK is on the cusp' of securing a new Brexit deal on Northern Ireland.
I'm also seeing GU decline slowing and possibly at the end of it's retracement, DXY also seems to be slowing (it doesn't seem to matter how well their economy is doing, the bears seem to be in control for now), so I'm looking for longs on this pair at the start of next week. We should test recent highs around 1.24 and a break through would open the door to test the 1.26's.
If a new Brexit deal is reached this weekend I expect a quick uplift, but I think 'being close to a deal' is enough to see this pair grow over the coming days.
This trade gives a 1:3 RR minimum if it works out, I'll be keeping a close eye on the news and the Asian open later!