Gu
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)
GU buyDouble bottom on a psychological level while dxy is struggling to break it's session high.
Tp 1 30 pips (1.30300)
Tp 2 50 pips (1.30500)
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.
GBPUSD - WEEKLY REVIEWAgain, no trade taken because GU was so up and down with no clear direction even above 1.30.
However, we have now seen the break and retest of our key level and the buys shown earlier in the week would have seen you take a nice 4% or move stops to BE and be taken out.
We may not take an entry next week with GU either. Between Brexit and Election in the US, could you ask for anymore volatility?
GU - strong up trendDaily confirm uptrend.
You can check H4, has a swing higher and support zone : 1.3080 ~1.3090
=> BUY here when h1 has a reversal.
Have a good luck !
GBPUSD - LONGThe retest we've been waiting for!
Push into the previous weekly resistance before buys just to retest the highs created this week - no need to be greedy and aim higher as originally planned!
However, need to see dxy go bearish first.
GBP/USD: SHORTThere is 3 pin formation formed indicating bearish movement, price akso engulfed the last few highs and bang its head on resistance, waiting from price to retrace a little then continue rising in the ascending channel. Also price is about to close over the parabolic sar on the daily in a few minutes so price will rise but lets catch the bearish movement as well within the 2-4hr channel.
I've also attached my last post for GU, go check it out and leave a like!
$GBPUSD 2:1 60 Pip Trade if GU hits The Breaker - Take Out HighsAs price action has already sought higher, I'm looking for pullback into the breaker to go higher and take a previous daily high. FX:GBPUSD
Expect Pound to Fall based on Pressure from COVID & DXY
After the Tuesday trading session, GU clearly rejected the 1.3000 area. It is a psychological level for the pair and has been trading in this region for several weeks.
The UK has been slammed into lockdown and with EU talks faltering we believe the pair has the potential to fall significantly. Based on the previous uptrend hitting the upper Bollinger band, we expect a downtrend to continue to form.
This is an opinion, not financial advice.
GBPUSD LONGPrice on the 4hr timeframe could possibly close over the parabolic sar in the next 30 minutes and keep rising to the next resistance zone, and also back into the ascending channel. If price closes over the sar, BUY! Also on the daily timeframe there is a inverted 3 pin formation being formed, and will be complete in the next 12 hours, which is a bullish indication. Price is headed toward the 1.30500 area.
GBPUSD - WEEKLY OUTLOOKDaily descending channel in play here! Also have strong higher timeframe support and resistance providing perfect confluence with key Fibonacci levels!
Buys and sells clearly marked up - lower timeframes very choppy so entry taken only with candle body closure above and below on the daily timeframe.
GBPUSD WEEKLY REVIEWFAKEOUTS GALORE!
GU proved a worthy adversary this week given the fundamental impacts of brexit and elections. We were sat in 3% profit on Monday above 1.30 and held until BE tuesday before we got caught in another fakeout. Nice little double bottom forming for next week but I want to see the weekly close above 1.30!
Short after falling back into rangeshort after deviation @ range high.
- TP1 --> Mid range
- TP2 --> Range-low
GBPUSD - WEEKLY OUTLOOK (LONG!)CABLE IS LONG!
Clear inverse head and shoulders here complete with a break of the neckline, now looking for the retest before taking a swing up to the previous 1.35 highs for a 1:10 RR!
There is no technical reason to be bearish here.
However, keep in mind not only the US election but Brexit and GU will continue to be choppy; any trade taken will need an added in stop loss to accommodate the inevitable wick spikes!
GU WEEKLY breakdown .Going into next week we want to see this strong bullish move to the upside finish off and begin to look for reversals around 1.31864.
EMas have potential cross at this level previously making it a very strong bearing play along the 1.31885-1.32000.
any "noise" in this area will most likely trigger hard sells all across the board.
not to mention news for next week is medium- high impact mostly on USD .
Cheers and happy trading!
GU hidden bearish divergence in 1h & 2h time frameGBPUSD gonna bearish in short time frame. Correction required. Minimum 40pips
GU LongPrice is currently hovering but I see an intra-day retracement opportunity. I think we will push down further long term
