GBPUSD 05/09/2022 to 09/09/2022Price while moving in downtrend it has recent resistance at 1.1600/1.1657 & also creating a new low breaking the previous one. now on a high tf pov price needs to respect 1.1600/1.1657 as resistance if price is to continue to go down in respect to the downtrendline.
And a breakout of the resistance would result in the breakout of the downtrendline leading gj to go for some deepr retracemets all the way to the next major resistance at 1.1755.
Gu
GBPUSD 02/09/2022Price has a strong resistance at 1.1619 which it needs to make a breakout of to break downtrednline & start going for some deeper retracements. But as long as 1.1619 is respected as its resistance and price makes a breakout of the previous low at 1.1502 then price might continue to go down creating new lower low.
GBPUSD 30/08/2022Price could push to 1.1794 if breaks out of 1.1758 as part of deeper pullback in respect to the downtrendline and then continue to go down. but if even breaks out of 1.1794 then it would be a breakout of the downtrend and shift to an uptrend.
And if price makes a breakout of the recent support at 1.1684 then price could push further down by breaking below the previous low at 1.1650 to create new lower low. so you look for sells when that happens.
GBPUSD Weekly Chart Analysis From 29 AUG to 2 SEP 2022GBPUSD closed the week with such bearish engulfing move after a retest on a newly formed downtrendline. so if gu is to continue moving down then it should keep on respecting the zone at 1.1939 as its resistance & continue to push down by breaking below 1.1716.
GBP/USDGU has being rallying down since MAY 2021. It has reach a daily order block, after a bullish BOS on the weekly TF. On the 4H TF structure broke to the downside ( within Jun - Jul), and mitigated ( from Jul - Aug). The second mitigation has taken place on the 1H TF, exhibiting our rules of entry(BOS, 1st Mitigation with LQ grab, 2nd mitigation as trigger entry).
GBP/USD seems bullyThis pair is different of EU. But still the same things gonna happen here. We are in strong downtrend here, but local downtrend almost broken. We crossed the 200 EMA up and hit 2 trend lines. SO, here we go. We have a great setup to trade. If we brake our downtrend lines we can open buy and next stap is far away near the 1.24. If we bounce off it down, so we won again :) We just put short here immediately and our target is 1.20 at first, and 1.18 at second.
I love such a weeks where you can trade using only simplest TA)))
But keep focus, because this is the market and no one can handle it. Even trendlines and EMA))
Best regards, yours Fridrex.
You must short GU!Hello all, with the fiasco of reality going on all over the planet. Technicals have been a show..
GU looks to be breaking HTF strucutre in it's weekly downtrend. Therefore, I will be looking for selling opportunities at the supply zones listed.
On the LTF side, I'll be looking for buy confirmations to buy towards our POI sell levels.
Discuss!