Trade Idea: GURly nice reversal forming on GU. We can see bigger descending chennel and a nice breakout. Dnt like the fact that price rejected this previus high but if we look structure it deffinetly did break mrh. If price comes on this strong demand zone it will form Inverted Head and Shoulders Pattern too and we know that is rlh HP reversal setup when we see inverted at the end of descending channel.
Gu
GBPUSD - PREDICTIONTechnicals:
Weekly resistance
4hr resistance
Daily support
4hr 200ema falling to 4hr res
short term bearish fib which 61.8% has held once
short term descending TL awaiting 3rd touch
Would love another pullback to key psychological level 1.40 which also has multiple confluences would also give us a Double Top off the 61.8% fib and res.
GBPUSD - Bullish continuation.....Earlier this week I posted that Bullish might be in control this week..... Price as been Bullish
So for now 1.40068 is my TP.......
What do you guy think...... Will price break above my TP and continue Bullish, or price Will fail to break above it.....
What do you think....
Have a great week
GBPUSD Further Move Down... Or Up?Analysis done on the weekly/daily timeframe.
So, first things first: GU is on long-term uptrend, as are the other GBP pairs. Our economy is recovering.
I've drawn a trendline from the weekly TF and price could very well come down to it. There's a chance price will go down to the lower S&D zone if it were to break and hold below 1.38000. However, there are fundamentals coming out this week which are predicted to be positive for GBP so we very well might see a move to the upside.
I see price moving down before this happens but i'll be positioning myself for a long.
Updates to follow, follow me to see them.
GBPUSD 13/06/2021 - WEEKLY FORECAST TF 2HHello Traders!
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Penguin - expected direction
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gbpusd SELL / SHORTwe are coming to a sell opportunity if the fib doesnt extend down any further...
its a retest of the broken trend line, a retest of yesterdays lows, the 50% fib retrace, which GU favors. also the 14 /100 / 28 / 50 EMA's all bunching up there too.
take partials along the way and set SL to BE once in profit.