Wait for the Break!As we monitor the price action we are looking for a break in the current structure before getting active with a direction. We have no GBP news this week. Only USD news to push the narrative.
J-GBP
GBPAUD BUY BIASWeekly: Bearish, Rejection from major weekly resistance 198.550, Failed retest of Head and shoulders pattern price closed above the right shoulder, recently mitigated ob 1.98550, Made a Double bottom pattern at daily supply zone 1.86550, Unmitigated ob at 1.87625, Bearish rejection candle at daily resistance 1.94750, Bullish choch
Daily: Consolidation, Inverse Head and shoulders, 2 bar rejection at major resistance 1.94750, Has not retested major support 190.325 after break, Bullish choch, Double bottom pattern, Retested resistance 1.93250
4hr: Consolidation, In a minor uptrend after making a rejection can of the bottom 4hr zone, Break of bearish trendline to the upside, Has not retested .618 of fakeout that resulted to a downward movement, rejection of the 4hr resistance 1.93275.
1hr: Bullish, Liquidity is located above the 4hr resistance of 1.93275, Price is respecting a bullish trendline, Unmitigated 1hr ob, Price faded out and reversed after reaching bottom 4hr zone.
15m: Bullish, Bullish structure is being formed, Failed to make a higherhigh at 4hr resistance 1.93275, Ascending triangle pattern
I believe price is going to retest the 1hr ob fake out the market and continue the upward movement towards the Top 4hr zone to grab liquidity and retest the .618 level if its able to break 1.93275.
British Pound can little correct, after which rise to 1.2715Hello traders, I want share with you my opinion about British Pound. Looking at the chart, we can see how the price some days ago rebounded from the resistance line and declined to the support line, breaking the 1.2550 support level, which coincided with the buyer zone. But soon, GBP turned around and started to rise near this line to the resistance line, after which, the price soon broke the 1.2550 level again and later reached the current support level. Then price tried to break it, but failed and in a short time declined to the buyer zone, thereby breaking the support line and also entering to upward wedge. In this pattern, the price reached the support line and then started to rise near this line to the current support level, which coincided with the support area, but long time it couldn't break this level. Some time ago GBP finally broke the 1.2670 level and rose a little higher than the support area, and at the moment, the British Pound trades near. In my mind, GBP can correct to the support line and then rebound up to the resistance line of the wedge, so for this reason, I set my target at 1.2715 points, which coincides with the resistance line. Please share this idea with your friends and click Boost 🚀
Will there Be another Weekly High Made?Now that it is Tues day I'm waiting to see where price will stall out at and turn around. There is not much strength pushing price bullish and we have USD News for NY session coming up. Monitoring for signs that the bears want to take control and push price down. But also trying to remain aware incase anything happens to change my bias.
TRADE SETUPS ON GBPUSDHey Traders,
Check out this technical analysis on GBPUSD; it appears to be undergoing a wide pullback, potentially indicating a bullish momentum.
However, I would recommend waiting for a breakout above the channel before considering a buy-trade setup.
Alternatively, there may be an opportunity for a sell trade if the market breaches the evident support area.
Keep a close eye on this.
GBP/JPY Intraday Suggestion:Traders,
Upon reviewing the 1-hour chart, a clear bullish trend is evident for GBP/JPY.
I propose the following intraday strategy:
Keep a close watch on the 15-minute chart.
Any breaks above 190.700 in the 15-minute timeframe will trigger our limit order.
Please note that this analysis is applicable only for today and may become invalid sooner than expected. I'll promptly update you if any changes occur.
Stay alert and trade wisely!
Warm regards,
Sell GBPUSD Triangle BreakoutThe GBP/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a triangle pattern.
Key Points:
Triangle Breakout: The price has been trading within a triangle pattern, characterized by converging trendlines. This pattern can be interpreted as a continuation of the prior trend or a potential reversal depending on the breakout direction. The recent break below the lower trendline signifies a potential confirmation of a downtrend continuation.
Sell Entry: Consider entering a short position around the current price of 1.2662, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: Initial bearish targets lie at the following levels @ 1.2585 and 1.2552
Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the triangle, ideally around 1.2695. This helps limit potential losses if the price reverses and breaks back upwards.
Thank you.
Weekly Review on GU, Bearish Price action for the new week?Reviewing what happened with last week and whats possible this week. Going to let Monday Play out to allow the market to show its hand then get active. We are in a Monthly transition this week so do keep that in mind on this week's moves.
GBPUSD 25/2/24GU following on from our last hourly and higher timeframe post, we have moved like clockwork as we have expected, running back to our higher zones and forming clear liquid under our retracement lows.
Now as we stand from last week we are in a bearish swing range as we took the SWL highlighted in our chart here!
Looking for a pullback within our five min range and then a shift down into our lows to lower prices where we look for buyers stepping into the game. if we do go higher first il look for a sell off from our supply or a sweep of our SWH leaving us with an A model for sells!
GbpAud could likely pullback for longHello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
Pulling back for long ,could target 1.94 ,but do expect it to be choppy judging at its recent PA.
Do check out my stream video for the week to have more explanation in place.
Do Like and Boost if you have learnt something and enjoyed the content, thank you!
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The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
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GBPUSD Potential DownsidesHey Traders, in the coming week we are monitoring GBPUSD for a selling opportunity around 1.27200 zone, GBPUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.27200 support and resistance area.
Trade safe, Joe.
GU has meet the objective this weekGU gave us great sale opportunities twice this week. As we get ready to close out the week i am looking for a low for the week to be established. so we can open next week with some kind of range we can work with to create a mid week high for another entry next week maybe. We cant predict the price. just move with it.
GBP USD Buy GBP/USD reversed its direction and declined below 1.2650 after rising above 1.2700 earlier in the day. Renewed US Dollar strength on the back of better-than-forecast Jobless Claims and upbeat PMI data makes it difficult for the pair to keep its footing.
GBP/USD is the forex ticker that shows the value of the British Pound against the US Dollar. It tells traders how many US Dollars are needed to buy a British Pound. The Pound-Dollar is one of the oldest and most widely traded currency pairs in the world. Follow the live GBP/USD rate with the chart and keep up to date with Pound-Dollar news and analysis. Plan your trades with the GBP/USD forecast and key pivot points data and support and resistance levels.
Confirm Chart GBPUSD
EURGBP: Rejection on the 1D MA50. Sell signal.EURGBP is technically bearish on the 1D timeframe (RSI = 37.174, MACD = 0.000, ADX = 32.150) as it is extending the selling since the December 28th 2023 High near the top of the 1 year Channel Down. For the last 3 days it has failed to cross over the 1D MA50, even though it got too close, and a rejection today can start a bearish wave of minimum -1.78%, much like July 11th 2023. Consequently we are short with TP = 0.84250, even though the long-term extension can even be at -4.04% or even the 2.0 Fibonacci level.
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GBPJPY 1.04% Return Trade ClosedGood Morning guys, I just not to long ago closed this buy on GBPJPY - I Took the trade yesterday evening and held it (during the Asian session overnight) I just woke up
Let me explain why I took this trade
These are my confirmations\questions >
Question 1 - Was GBPJPY in momentum (bullish or bearish)?
Yes, GBPJPY was in bullish Momentum at the time of me looking at it
Question 2 - Who was interested (at that time)?
Buyers were interested at that time
Question 3 - Where were their stop losses?
Stop losses would have been right below the highlighted levels (purple circles) & below the purple horizontal line (break out buyers)
Question 4 - Have those stop losses been taken out?
Yes I believe Stop losses would have been taken out already on GBPJPY (Red X)
Question 5 - Did the set up make sense for me to pursue?
Yes I believe it made sense for me to pursue this trade given the information I had
When I woke up GBPJPY had a moved a massive 1:7.55 RRR, considering the fact that I risked 0.25% on this trade that would have meant had I closed at that RRR I would have taken home about 1.88% on this trade
BUT, as you can see where I closed it, GJ had already pulled back a significant degree and in fear of it pulling back more and taking away more profit from me, I decided to close it (plus I'm going to be really busy today so I don't have the time to actively trail my stop as it goes further (which I do believe it can)
My broker also shows a gap (I use ICM, whereas FXCM (tradingview) does not show a gap, which means manipulation is occurring somewhere in this area
I closed the trade at 1.04% Return, doesn't sound like much but do the math on it from a much bigger account and tell me if you think it is worth it
Plus I literally have been having an excellent week where I haven't lost any trades for the week, I'm on fire this week, let's see if I can keep it up
I have many more confirmations I look for, this is just to simplify it so that I can quickly explain to you the reader
Downvote\don't Boost if you didn't read this post and didn't try to understand
OR
Upvote\Boost if you did read this post and did try to understand
*Why don't I show my lot size?*
*How much money I make is no where near as important as HOW I took the trade*
GBPCHF Potential UpsidesHey Traders, in today's trading session we are monitoring GBPCHF for a buying opportunity around 1.10400 zone, GBPCHF is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 1.10400 support and resistance area.
Trade safe, Joe.
Sell GBPNZD Bearish ChannelThe GBP/NZD pair on the M30 timeframe presents a potential selling opportunity due to a well-defined bearish channel pattern. This pattern suggests ongoing selling pressure and a higher likelihood of further declines in the coming minutes or hours.
Key Points:
Bearish Channel: The price has been trading within a descending channel characterized by two falling lines: a falling resistance line and a falling support line. This ongoing downtrend signals continued selling pressure.
Sell Entry: Consider entering a short position around the current price of 2.0420, positioned close to the channel resistance. This offers an entry point near a potential reversal zone.
Target Levels: Initial bearish targets lie at the support levels of 2.0335 and 2.0285, marking previous support zones within the channel.
Stop-Loss: To manage risk, place a stop-loss order above the broken channel resistance line at 2.0480 This helps limit potential losses if the trend unexpectedly reverses.
GBP: Upper Band ChallengeGBP is currently trading at 1.26230, just under the upper Bollinger Band at 1.26454, which has been a tough ceiling to crack lately.
Notice how previous touches of this band have led to pullbacks. This could be a pivotal area for traders looking to gauge whether the Pound can sustain its upward trajectory or if it will succumb to selling pressure once again.
The MACD presents a conundrum; it's positive, indicating some bullish momentum, but we're not out of the woods yet. The slim difference between the MACD and its signal line suggests that the bullish momentum is not overwhelmingly strong. Decisions here should be informed by a keen eye on the MACD line—if it starts to turn down or the histogram shrinks, it might signal waning bullishness.
The volume stands at 3.211K, which isn't giving a strong signal either way. A surge in volume, especially above recent average levels, could be the confirmation needed for a solid move.
Lastly, the RSI, mildly above the midpoint at 54.15, hints at a slight buyer's advantage. However, it's not signaling overbought conditions which gives the Pound some room to move up without immediate fears of a retracement due to being overbought.
Enjoyed the analysis? Don’t forget to hit like, drop a comment with your thoughts, and share it with your friends.
GBP USD confirm buy GBP/USD consolidates Tuesday's gains and trades above 1.2600 in the European session on Wednesday. The pair struggles to gain traction amid a resurgent US Dollar demand as risk sentiment turns sour. The focus now shifts to the Fed Minutes, BoE- and Fed-speak.
The Relative Strength Index (RSI) indicator on the 4-hour chart retreated to 50 after rising toward 60 on Tuesday. After closing the last 2 4-hour candles above the 100-period Simple Moving Average (SMA), currently located at 1.2620, GBP/USD declined below this level, highlighting a loss of bullish momentum.
GBP/USD gathered bullish momentum and climbed above 1.2650 for the first time in a week on Tuesday. The pair lost its traction later in the day but didn't have a difficult time stabilizing above 1.2600. The near-term technical outlook doesn't yet point to a buildup of bullish momentum and buyers are likely to remain hesitant unless the pair clears 1.2650-1.2660 resistance.
High has been made. Will the week continue Bearish?I waited for Tues to play out and make a high. Now that it has been made we are expecting price to continue moving bearish. As we come into the London session we are starting to see signs of that bearish pressure to push it down. We will see if it keeps it up.
Sell GBPUSD at UK RecessionThe GBP/USD pair on the H4 timeframe exhibits a potential selling opportunity due to a recent downward breakout from a symmetrical triangle pattern. This pattern suggests a period of consolidation followed by a potential trend continuation in the breakout direction.
Key Points:
Triangle Breakout: The price has been confined within a symmetrical triangle, characterized by converging support and resistance lines. This often indicates indecision before a decisive move. However, the recent break below the lower support line at 1.2600 signifies a shift in momentum towards the downside.
Sell Entry: Consider entering a short position around the current price of 1.2630, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: Initial bearish targets lie at the support level of 1.2350, marking a previous support zone within the triangle. Further downside targets could be determined using other technical analysis methods like Fibonacci retracements or extensions.
Stop-Loss: To manage risk, place a stop-loss order above the broken support line of the triangle, ideally around 1.2750. This helps limit potential losses if the price reverses and breaks back upwards.
Thank you
HelenP. I British Pound can make impulse up from triangle figureHi folks today I'm prepared for you British Pound analytics. If we look at the chart we can see, how the price rebounded from the resistance zone, which coincided with the 1.2715 resistance level and declined lower, but soon it turned around and in a short time rose back to this zone. Some time later GBP started to decline from this zone again and fell to below the 1.2715 resistance level, after which it rose back and then made an impulse down to the trend line. As well, the price started to trades in a triangle, where GBP rebounded from the trend line, which is located in the support zone, and soon rose higher than the 1.2550 support level. Then the price rose to the resistance line of the triangle, after which the price bounced down to the trend line, but a not long time ago GBP bounced from this line and started to rise. At the moment, the British Pound trades near the resistance line of the triangle, and I expect that the price will decline almost to the support level and then GBP make impulse up, thereby exiting from the triangle. So, for this reason, I set my target at 1.2660 points. If you like my analytics you may support me with your like/comment ❤️
EUR/GBP: Assessing Lagarde's Rate Cut RemarksHey Traders, in today's trading session we are monitoring EURGBP for a selling opportunity around 0.85700 zone, EURGBP is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.85700 support and resistance area.
Recent remarks from ECB President Lagarde indicating the likelihood of rate cuts have injected uncertainty into the EUR/GBP pair. The prospect of monetary policy easing in the Eurozone tends to exert downward pressure on the Euro against the British Pound. Investors interpret such signals as indicative of economic weakness or the need for stimulus measures, which can dampen the appeal of the Euro relative to the Pound. Therefore, Lagarde's commentary on potential rate cuts may contribute to further downside pressure on EUR/GBP as traders factor in the possibility of looser monetary policy in the Eurozone compared to the UK.
Trade safe, Joe.
