The GBP/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.2675, positioned close to the breakout level....
GBP/CHF has reacted off the pivot which acts as an overlap support and could potentially rise to the 1st resistance. Pivot: 1.13127 1st support: 1.12690 1st Resistance: 1.13944 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable...
I was bearish from the beginning of the week and now that price has officially confirmed it wants to move bearish we are in the process of witnessing a new set up happen. We do have a quite a bit of news today. so looking to see how price will react to the scheduled news.
The Cable (GBP/USD) is falling towards the pivot which has been identified as a pullback support and could bounce to the 1st resistance. Pivot: 1.2605 1st Support: 1.2568 1st Resistance: 1.2702 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs...
Black Wednesday, 16 September 1992 Black Wednesday, or the 1992 sterling crisis, was a financial crisis that occurred when the UK Government was forced to withdraw sterling from the European Exchange Rate Mechanism. This is when George Soros famously shorted the pound and made a 1 billion dollar profit. Dot-com Bubble, 2000 The dot-com boom peaked on 10...
GBP/CAD has reacted off the pivot which has been identified as a pullback resistance and could fall to the 1st support. Pivot: 1.73441 1st Support: 1.72280 1st Resistance: 1.74045 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be...
as I watch price action the bears are still showing the are in control and we are just within a flag being created. Will allow this price action to play out and see what the market wants to give up for London session.
The Cable (GBP/USD) has reacted off the pivot which acts as an overlap resistance and could potentially drop to the 1st support. Pivot: 1.2705 1st Support: 1.2606 1st Resistance: 1.2740 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be...
As the UK approaches the July 4th general election, the Labour Party is set to end the Conservatives' 14-year rule. According to the latest BBC poll tracker, Labour leads by 20 points, with 41% of the vote, while the Conservatives hold 21%, and Reform UK is at 16%. Labour's pledge to improve EU relations could strengthen the pound by reducing Brexit-induced...
Really good Market structure on G/U Consumer Sentiment news for the dollar just released this morning at 10 and came out positive. This should help the DXY rise which by correlation would cause the GBP/USD to fall.
Looking for my idea to play out but also trying not to be blind to my bias. We have news about to hit and it looks like it can send price bearish based on what has taken place during London session. if we can get a bearish break down for NY session today we might get 1 more solid move for the week.
The EURGBP pair hit on June 14 the bottom (Lower Lows trend-line0 of the 7-month (dashed) Channel Down and is on the rebound. At the same time, the 1D RSI got oversold (below 30.00) and every time it did so in the past 12 months, it started a strong bullish reversal. More specifically the previous Bullish Leg of the Channel Down reached the 0.618 Fibonacci...
Been waiting on a bearish move and it looks like price is almost ready. Waiting for Asian range to play out to be ready for London open. We should get a clear indication of what price would like to do by then.
GBP/USD is falling towards a support level which is an overlap support that aligns with the 38.2% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.2666 Why we like it: There is an overlap support level which aligns with the 38.2% Fibonacci retracement. Stop loss: 1.2621 Why we like it: There is a pullback support level. Take...
GBP/CHF has just bounced off the pivot which has been identified as a pullback support and could potentially rise to the 1st resistance. Pivot: 1.1312 1st Support: 1.1269 1st Resistance: 1.1372 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs...
Following our previous forecast, GBP/USD has gained volume on the bullish side, showing a strong reaction in the demand area we highlighted on Friday. Early Monday, the USD remains under modest bearish pressure amid an improving risk mood, which helps GBP/USD hold its ground and maintain its upward trajectory. US Economic Data and Market Sentiment The US...
Price is currently reacting off a resistance level which is a pullback resistance that aligns with the 23.6% Fibonacci retracement and could fall to our take profit. Entry: 1.90535 Why we like it: There is a pullback resistance level which lines up with the 23.6% Fibonacci retracement. Stop loss: 1.91057 Why we like it: There is a pullback resistance level which...