Gu
GBPUSD 27/09/2022Price 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 might lead the price to go down towards the next support at 1.0563 again creating a ranging phase.
GBPUSD MID TERM HUGE SELL OPPORTUNITYUse appropriate risk management. Last few posts have been incredibly successful so I'm using lower risk on this one.
My strategy is a confidential, but those that trade my posts don't get carried away with my extreme accuracy and how I usually have little to no drawdown - USE SLS!
This is a mid to potentially long term trade.
The target is lower than GU has been my entire lifetime and probably yours too, so most will disagree but I like to differ from the crowd in trading so the target is very much achievable nonetheless.
GBPUSD 19/09/2022the 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 would be invalid.
GBPUSD week outlookMy current outlook on GBPUSD. Right now we are in a middle ground for this pair. The Daily and higher timeframes are bearish and we are approaching a resistance on these higher timeframes. On the H4 and lower, we are in an uptrend currently. For me to look for price to continue bullish, I would need to see price respect the key psyc level and H4 exhaustion zone in the 1.2100 zone. If this key level is broken, I will be looking for sells on the following H4 lower high and exhaustion zone that we are keying on for this level. This would also create a retest on the backside of the H4 trendline. Patience is all we have to have now. I have alerts set and will not touch until one of these setups form.