Hey Traders, in today's trading session we are monitoring EURGBP for a buying opportunity around 0.86600 zone, EURGBP is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.86600 support and resistance area. Trade safe, Joe.
GBPJPY played out exactly how we outlined on our analysis. We called the top, followed by a bearish retracement towards $176.500. If you caught the top, you would have caught 730 PIPS towards our Wave IV target. Now towards the next target of $190 (Wave V)!
First update of the week - GBPJPY! Bullish momentum is slowing down, as we get near to the top. Institutional money managers are opening their sellers order, making GBPJPY go into a redistribution phase. We should see more & more sell orders being opened & the official downtrend start very soon, around January 2024. Which is just over a month & a half away😉
From a technical point of view, the trend is bullish on intraday chart, and OANDA:GBPJPY pair could trigger another bullish leg in the short term. If we look on 1H chart, the price remains within a narrow trading range, and this means volatility compression. In this technical context, if the price remains above 184.552 a breakout on the bullish side should be...
The GBPNZD pair has enter a Channel Down pattern with the 1D MA50 as its pivot. A similar pattern emerged in May 2022, after the pair made an identical top and bottom (see the blue Rectangle). This time we have an additional support in the form of the 1D MA200 (orange trend-line) but as long as the price trades within the Channel Down, sell every Lower High and...
GBP/USD Faces Downside Pressure Amid Dollar Demand In the early European session on Wednesday, GBP/USD finds itself trading under pressure below the 1.2560 level. The renewed demand for the US Dollar is a significant factor contributing to the pair's weakness. Market sentiment remains cautious as traders await key US economic data and the UK Autumn...
Hey Traders, In today's trading session, we are monitoring GBP/USD for a buying opportunity around the 1.24250 zone. GBP/USD is approaching a retracement area of the 1.24250 zone. Fundamentally, the latest Consumer Price Index (CPI) data was soft and signals the possibility of upcoming dovish Federal Open Market Committee (FOMC) actions, which may trigger some USD...
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 GBPAUD has been trading inside a big range between our green support and blue resistance. Lately GBPAUD has been bearish trading inside the falling red channel and it is currently approaching its lower bound. Moreover, the zone 1.89 - 1.895 is a strong support. 🏹 Thus,...
Price of 1 Gold Ounce In The Pound, Dollar & Euro👇🏽 GBP: £1,590 USD: $1,981 EUR: €1,815
After price broke our daily high with momentum,it began to gradually retrace back into an internal structure demand that caused the break of this high. It tapped it,luring in early buyers before it smashed through it with momentum. This signaled a potential shift of internal structure direction as the demand zone was invalidated. We get more confirmation from...
The GBPAUD pair broke below the long-term Channel Up that it has been trading in since the start of the year and a Channel Down emerged as last week we had a rejection on the 1D MA100 (green trend-line). That is the top (Lower Highs trend-line) of the Channel Down and the most optimal sell entry. However the 1D MA200 (orange trend-line) is still supporting, so we...
The Chicago Mercantile Exchange's Commitments of Traders (COT) report for the week ending November 14, 2023, shows that there are signs of weakness for the British pound (GBP). Non-commercial traders, which are typically hedge funds and other large institutional investors, reduced their long positions in GBPZAR by 4,735 contracts. This was the largest weekly...
Starting this week off with GU From last Friday we've been playing within a large foolish range all of these structures that we have tracked from last week have been internal with some nice long moves lining up with our range bias we are looking for the range high to be taken and we are going to be looking for lungs into this week again if we break down the...
if the break of 1.10 is there for real, more downside will be coming in i believe. **Find out more from my Tradingview Stream this week** Hello there! If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏 And if you would like to show further support for me, you can gift me some coins on tradingview! 😁 Interested in following me...
GBPUSD has experienced a substantial 2R decline. Stops, as previously noted, were on the larger side, presenting traders with the choice of adopting either an aggressive or conservative approach. The conservative option offered a lower risk-reward ratio but increased the likelihood of holding onto the trade, while the aggressive strategy involved tighter stops and...
Wait for price to close above 184 or 183.90 for confirmation to go long. Look for targets like 1. Target 1 => 186.56 2. Target 2 => 188.12 3. Target 3 => 190.14
GBPAUD - 24h expiry There is no clear indication that the upward move is coming to an end. Trend line support is located at 1.9225. We expect a reversal in this move. Risk/Reward would be poor to call a buy from current levels. A move through 1.9250 will confirm the bullish momentum. We look to Buy at 1.9205 (stop at 1.9155) Our profit targets will be...