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.
Gu
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
$GBPUSD Try to create inverse head & Shoulders GU try to create I H & S in 4h timeframe with hidden Bullish divergence.
GBPUSD - WEEKLY OUTLOOKTECHNICAL POINTS:
Daily Fib
4hr Fib
Pennant
4hr resistance
4hr Inverse Head and Shoulders
4hr 800EMA
4hr 200EMA
Buy Confirmations:
Break of pennant, close above 38.2% Fib and neckline of Inv H&S. This would also close above the 4hr resistance and break the 200ema.
Sell Confirmations:
Break of previous lows, 61.8% fib and the daily ascending trendline forming the bottom of the pennant.
GBPUSD(GU) Gonna Bullish For Few HoursGU Gonna Bullish for few hours and after DXY 93.75 Bottom than Gonna demand zone
GU shortI entered off a bearish variation on M15.
My resistance line, lines up with the 61.8% Fib on the Daily timeframe.
GU/ GBPUSDI have been working on other stuff but I will try to focusing more time on trading
- Long Term I see GBPUSD to the downside.
- I m waiting for the 5th wave to complete.
- If price break wave 4 then it must definitely going up
Use good risk management. This is a long term trade. Goodluck
GBPUSD - WEEKLY OUTLOOKTechnical:
Weekly ascending trendline
Weekly orange fib
daily white fib
4hr grey resistance
daily red support
4hr descending channel
daily ascending structure Hh's Hl's
Buys:
Break of 4hr resistance
Break of 4hr descending channel
Target-weekly 61.8% fib
Sells:
Break of daily support
Break of daily 38.2% fib
Further sells on break of weekly 38.2% fib and trendline!
GBP/USD shortso those of you that saw my analysis on GU last Sunday would have seen how the trades played out, caught 320 pips 3 played out and one break even. GU has now struggled to break above and below so we are still just corrective (forming a deeper bearish pattern) my bias is still short and will see how Sunday/Monday price action moves. still 150 pips to take in my eyes. 3:1 RR
