The GBP/USD pair has shown signs of gaining traction during the early European session on Wednesday, surpassing the 1.2460 mark after experiencing a rebound around the 50% Fibonacci level. Despite previous forecasts suggesting a potential deeper reversal around the 61.8% and 78.6% Fibonacci levels, recent price action, in line with EUR/USD movements, indicates a...
I like the long idea here. If the current day can form a Bisi, that would be fantastic. After that I would just be looking price to trade back into the Bisi, into one of the key Breaker levels annotated, at the right time of the day, then STRIKE. The highest-probability target would be the recent high, and the next discretionary target would be my Wick Chair...
GBP/CHF is falling towards the support level which is a pullback support that aligns with the 23.6% Fibonacci retracement and could bounce from this level to our take profit. Entry: 1.13646 Why we like it: There is a pullback support level which aligns with the 23.6% Fibonacci retracement. Stop loss: 1.12950 Why we like it: There is a support level which aligns...
Price is rising towards a resistance level which is a pullback resistance that aligns with the 23.6% Fibonacci retracement and could reverse from this level to our take profit. Entry: 0.85856 Why we like it: There is a pullback resistance level which aligns with the 23.6% Fibonacci retracement. Stop loss: 0.85999 Why we like it: There is a pullback resistance...
First step: Identify trend. Price is obviously in an uptrend locally. This can be seen by price making higher highs and higher lows every day. Step 2: Wait for the New York initial balance to form in order to make an educated discission. You can see the IB form, which is the A and B blocks. After the IB is formed CDE bocks formed a failed auction below the...
Hi guys, this is my overview for GBPUSD, feel free to check it and write your feedback in comments👊 Some days ago price broke $1.2615 level and entered to resistance area, where some time traded and later bounced up. After price rose to $1.2885 points, it started to decline inside the falling channel, which fell to $1.2615. Later GBP broke $1.2615 level, after...
This is a short idea I have, and most likely it will come to fruition. We have a good liquidity pool taken out with a great reversal displacement. We also have a great draw on liquidity for the buyside. See here for my analysis on the Daily timeframe. Refer to my notes within the screenshots for context. Happy trading! - R2F
Price is rising towards a resistance level which has been identified as a pullback resistance that aligns with the 61.8% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.71052 Why we like it: There is a pullback resistance level which aligns with the 61.8% Fibonacci retracement. Stop loss: 1.71720 Why we like it: There is a...
GBPAUD - 24h expiry The medium term bias remains bearish. A higher correction is expected. Bullish divergence is expected to support prices. Preferred trade is to sell into rallies. Bespoke resistance is located at 1.9220. We look to Sell at 1.9220 (stop at 1.9270) Our profit targets will be 1.9100 and 1.9070 Resistance: 1.9220 / 1.9260 / 1.9315 Support:...
The GBPCAD pair gave us a solid short-term sell signal last time (January 29, see chart below): At the moment it is declining within a Channel Down pattern which emerged after the 6th rejection on the Resistance Zone. Having broken below both the 1D MA200 (orange trend-line) and 1D MA50 (blue trend-line), we are expecting a short-term rebound to price the new...
Today's focus: GBPUSD Pattern – Impulse in a downtrend. Support – 1.2330 Resistance – 1.2456 Hi, traders. Thanks for tuning in for today's update. Today, we are looking at GBPUSD on the daily chart. Today, we have broken down the current PA we are seeing and thinking about on the GBPUSD. We have touched on news to come and discussed the USD index. Can...
Price is rising towards the resistance level which is a pullback resistance that aligns with the 38.2% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.70212 Why we like it: There is a pullback resistance level which aligns with the 38.2% Fibonacci retracement. Stop loss: 1.71034 Why we like it: There is a pullback resistance...
Price is rising towards the resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 2.10271 Why we like it: There is an overlap resistance level which aligns with the 50% Fibonacci retracement. Stop loss: 2.11720 Why we like it: There is a pullback resistance...
GBPAUD is practically neutral on its 1D technical outlook (RSI = 44.487, MACD = -0.002, ADX = 28.797) as the LL leg of the Channel Down was negated by the Double Bottom that was formed today. The 1D RSI turned upwards on a HL trendline and this is a short term bullish call, targeting the top of the pattern (TP = 1.94000). See how our prior idea has worked out: ...
Hello traders, I want share with you my opinion about British Pound. By observing the chart, we can see that the price a not long time ago started to decline inside the downward channel, where it first rebounded from the support line and rose to the channel's resistance line. But after this, EURGBP bounced from this line too and continued to decline in the channel...
The next significant event on the horizon is the release of USA Gross Domestic Product (GDP) data. While this announcement has the potential to influence market direction, I anticipate it may not yield significant changes. However, it's essential to remain vigilant and stay updated for any developments following the release. Stay tuned for further updates as the...
Hey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.24200 zone, GBPUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.24200 support and resistance area. Trade safe, Joe.
Price is rising towards a resistance level which is an overlap resistance that aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.23887 Why we like it: There is an overlap resistance level which aligns with the 50% Fibonacci retracement. Stop loss: 1.24280 Why we like it: There is a pullback resistance level...