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Pound

GBPUSD - Navigating the current price actionHi traders, GBPUSD is in a multi-scenario area, as the chart is not very clear right now. One scenario is a continuation to the upside from here, another one is a retracement to the bullish area marked on the chart and then a continuation to the upside, and the third one is a deeper correction to the 4h-D trendline. All the scenarios are marked on the chart. Trade with care. Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. We do not recommend making hurried trading decisions. You should always understand the risk that trading implies and that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
Short
by FractalTrading
GBP/CHF massive Buy opportunity 100pipsBasically the market structure is still in upward trend, we see a nice pull back to 38.2% fib level and nice triple bottom, we already got a nice confirmation on H4 candlestick (engulfing candle ) that indicate a nice bullish momentum, which is in confluence the the triple bottom, So we need price to break the neckline to continue to our target 1 of 100pips we have a nice risk to reward Follow me for more breakdown like this Thank you so much
Long
by ShinForex1
RLinda ! GBPUSD-> Price in the correction start zoneGBPUSD is in a strong uptrend. The price is again trading in the price channel and again confirms its boundaries The chart shows the key element, the price channel and the level of 1.23442. Previously, the price made a false break-through of the channel resistance, returned to the range and could not break through it on the retest, now the level 1.2344 takes up all the pressure, should it break-down, correction stage may start and we might see the price fall to 1.2153 area. I assume that the price may slightly retreat from the correction zone to the area of 1.215-1.210. I expect consolidation under 1.234 and formation of the entry point for the sale. Regards R.Linda!
by RLinda
17
GBPUSD in Upward Trend Channel, Target at 1.365Overview The main view of this trade idea is on the Daily Chart. The FX Cross GBPUSD is in an upward trend channel after making a historical low of 1.03595 on 26th September, 2022, it proceeded to make higher lows and higher highs. Higher lows within the trend channel can be observed around the 1.11519 and 1.18413 price levels which were made on 3rd November, 2022 and 6th January 2023 respectively. The higher highs of 1.14902 and 1.24468 were made on 4th October 2022 and 14th December 2022 respectively. The expectations are for the FX Cross to rally to 1.365. A negation of this view will be a decline to 1.155. Technical Indicators Several technical indicators support this uptrend. The Supertrend indicator turned to buy mode on 17th January while the Awesome Oscillator is above 0 and green. The RSI for GBPUSD is also above 50 and trending higher. The intra-day trend following indicators of GBPUSD also show uptrends in the 15-Min, 2-Hr, 4-Hr and Daily timeframes. Short term support is observed around the 1.17 price level. Recommendation The recommendation will be to go long at market, with a stop loss at 1.155 and a target of 1.365. This produces a risk/reward ratio of 1.54. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time of writing, I have exposure to GBPUSD.
Long
by Ceddy86