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Gu

GBPUSD PREDICTIONFor the first time in months I'm excited to trade GU this week! So on the daily, we have a bullish pennant whereas on the 4hr we have a Head and Shoulders. What does that mean? Simple, we don't take the sell, as that goes against our higher timeframe bias as we're still in an uptrend due to higher highs and lows. We wait for that neckline to be breached and for the magic to happen in the orange circle, taking buys all the way up. Magic? 3rd touch of trendline. Golden 61,8% Fib area Daily support. 3 great confluences for buys! Sells if the pennant is broken.
Long
by RealistFX
$GBPUSD - Sell Bias Setup - Sell at Breaker Clear the LowThe picture is pretty self descriptive. The next daily bias seems to be heading toward the direction of selling. There are many daily lows stacked up ready to be broken as well as an equal low setup just prior to the previous daily lows. I think during the Asian session we'll see Cable range but create equal highs and lows that it will want to break to creating a breaker that will propel it to the current breaker. I'm seeing the same Bias in EURUSD as it seems to be struggling to create a higher high. The current swing high in GU was formed from a previous breaker but the low has yet to be cleared. To be honest it could just keep going lower without pulling back for the set-up. But if it does pull back to around 1.30995 I will be looking to sell with about a 40-50 pip stop loss, but it should gain over 100 pips to break the low so well worth the risk to reward. But I like to peel off profits in case it does not get to my target so I have planned 3 TP zones and depending on price action will depend on how much I move my stop loss and where. Will be giving updates as I continue to watch this setup unfold. Edit: The S/L Depicted in the graph may be too tight. I may loosen it back to 1.31500 depending how the market is reacting. I don't want to go above the prior swing high of 1.31757 because if it breaks that, it's more than likely going higher. There could also be a lower sell at 1.30787 in which it may not get higher as that is another bearish breaker. Just another thing to watch for in this setup.
Short
by BodiesXWix
GU Analysis *EXPLOSIVE WEEK AHEAD*Price has been ranging between 1.31000-1.27000 since the beginning of September, price could be headed towards 1.27000 in the next few days. There is a lot of important news this upcoming week for both GBP and USD, and most importantly the US election is in 2 DAYS . I charted the FIB on the daily timeframe, and what I think will happen is the market will open up and head down to the 0% line on the fib before a long opportunity presents itself. ALSO GBP could take a toll for the next month being that there is a nationwide shutdown starting NOVEMBER 5th until DECEMBER 2nd because of COVID 19 . There should be an explosive week this week for GU ! Definitely would keep an eye on the news this week if you are trading GU this week.
by lobfxempire
GBPUSD Price movement prediction 27-10-2020Using the triple trap strategy, these are opportunities I see for this pair. As GU is above the 50 SMA in 4H and it broke the trendline - looking for buys, if the zone breaks and retest but since it is a strong zone there is a possibility that price may fall rejecting from zone and breaking the 50 SMA. the triple trap strategy is trapping price between a channel, SNR and a possible trendline opposite to channel. In this way we can predict the next movement of the price by seeing the price respecting either one of the traps( either a channel, SNR or trendline)
by Tripple_Trapping_FX
GBPUSD - WEEKLY PREDICTIONCable is in for another up and down week with brexit and US elections front and centre providing fundamental uncertainty. All we can do is try and take the safe trades possible and here is our buys and sells reasoning. We can see a defined uptrend within the channel here, and we did break above that 1.30 again last week so now, buys are applicable with a push back into that key support zone and rejection off it. Buys from current price are not good due to bad RR. Firstly we test the highs from last week, then we push into the weekly resistance around 1.33500. For sells, we need to see a break of structure, and the reason we aren't selling until price reaches 1.28500 is that we'd be breaking a very major ascending trendline and the key 61.8% fib area hence sells would be very strong eliminating most buyers.
by RealistFX