IDEA:
After our strong rally to the upside, GBPUSD has come back to retest a crucial level of support on our bullish channel, more buys expected, entry for more buys is safe, get on if you haven't already.
Always remember to apply proper risk management. The above are only for speculation and educational purposes and should not be construed to be investment...
IDEA:
The daily chart shows a clear bearish channel, as well as seen on the 1h time frame. We can also see a bounce and failure to pusher higher than our 0.50 Fib level. At the moment just looking for a quick scalp towards 1915.00 and 1908.00.
CONCLUSION:
We have 3 areas of confluence and reason for entering our sells here:
Bounce off daily bearish channel...
IDEA
On our top-down analysis we can see the following about the current price:
Weekly: Pair is currently at the resistance of our bearish channel
Daily: We have an area of sensitivity at 1.07656 by which we can see high possibility of a triple top
4h: Another bullish channel here showing the current bullish movement to create our third top
...
IDEA:
As we can see from the chart we have reached a crucial and very sensitive resistance area on our weekly time frame. We also see a very clear ascending triangle which indicates continuation, thus continuation of our previous downtrend. Looking for possible scalps until 0.92700 or even as low as 0.92200 and upon breakout and retest of our support, possible...
