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InvestMate|GBP/USD Declines Are Inevitable💷💵💷💵GBP/USD Declines Are Inevitable 💷💵Looking at how the GBP/USD bumped upwards today on news of the latest inflation readings in the US 💷💵It may confuse some and provoke further rises. 💷💵But I believe this was the last attempt at increases before the incoming wave of falls. 💷💵Looking at the divergence that has formed on the MACD and RSI 💷💵And considering the fact that no significant correction has occurred on GBP/USD for the last weeks. 💷💵I think it would be prudent to set up a resistance zone around the recent peaks. 💷💵And the support zone remains unchanged. It has been set out in previous posts but to make it easier for you to understand I will write you again what it is based on 💷💵Support zone is around the 1.16 level, where there is a cluster of as many as three fibo levels. The first is the 0.382 level of the same wave as the first support zone . The second level is 1.272 of the entire upward wave from the 2001 bottom to the 2007 peak. The third level is 0.886 of the entire upward wave from the 1985 bottom to the 1992 peak. 💷💵The scenario I am playing out is the start of a decline and a continuation of the movement to the designated support zone. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 💷💵*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
23
GBP/USD: Pound in a tough resistance zone. Pullback in sight?The British pound has staged an impressive 18% rebound since its September's lows and is now entering a pivotal week given the upcoming Fed's (Wednesday) and BoE's (Thursday) meetings. Even though the latest signs of economic activity are mostly better or in line with expectations, they actually show that the economy is slowing down and that a recession is getting closer and closer. Following a 0.6% decline in September 2022, the UK GDP increased 0.5% in October, the largest growth in over a year and slightly above predictions of 0.4%. The service sector, which continues to be resilient, had the greatest expansion. Instead, industrial production in October 2022 was flat from the previous month, following a 0.2% decline in September, which also matched market expectations. Continuing growth uncertainties and housing market jitters might have future dovish consequences for the BoE. On Thursday, it will be important to know if the differences between board members that have already come up are getting bigger. At the last BoE meeting, the vote to raise 75 basis points was divided (7-2). Markets are pricing in 56 basis points, thereby fully expecting 50bps. As a result, anything less than 75bps will be a marginally negative outcome for the pound. A hawkish Fed and a dovish BoE will have a negative impact on GBP/USD, which has recently re-established its correlation with the 2-year yield differential after decoupling from August to October. How to tactically trade GBP/USD this week: Key technical levels to watch The cable technically broke above the 200-day moving average (1.211) and has remained above it since the beginning of the month. As we get closer to a crucial resistance area around 1.225-1.24, which corresponds to June highs and a 6-month 100% Fibonacci retracement level, the bullish wave is beginning to lose some of its momentum. Following the solid rally since November, the upside potential for the pound looks to be rather stretched, and this week's rising risks of a hawkish Fed and USD bullish sentiment may lead to some pullbacks to 1.20 or lower. 1.196 is an intriguing initial line of support to keep an eye on, corresponding to the 78.6% Fibonacci level and the -1std of the 20dma Bollinger band. If cable fails to hold there, 1.161 (61.8% Fibonacci) might be a month-end target.
by Capitalcom
2
GBP/USD:BUY After GBP Mom Release News For A LONG SetupThe GBP/USD after reaching our previous target price had a pullback again in the support area retesting the 61.8% Fibo from the previous swing low. The value is making Higher-highs and Higher-lows supported by a dynamic trendline. The price cross on the higher side of the RSI and today the economic data about GBP MoM ( GDP measures the value of goods and services produced in the UK. The reading refers to a month-over-month growth rate. ) it's increased and this means the economy is increasing/growing. Our forecast is about a new bullish impulse.
Long
by FOREXN1
9
GBP/NZD Declines Ahead📉📉GBP/NZD Declines Ahead 📉GBP/NZD Finally started a decisive move southwards. 📉It coincides perfectly with my previous analysis in which I wrote about the declines in the Pound and the upcoming rises in the New Zealand Dollar 📉 Ahead is a strong support zone defined by a cluster of two fibo levels. The first is the 1.618 level of the entire recent upward correction. The second level is the 0.618 level of the entire upward wave from the bottom on 16.09.2022 to the peak on 17.10.2022 📉 If the downward movement continues expect the price to fall to around this support zone. 📉 Technical analysis indicators also confirm my perspective. Looking at the MACD histogram which indicates the continuation of the downward trend and the RSI which is well below the 50 level 📉The resistance zone has been set around the 0.618 level of the entire upward correction 📉 The scenario I'm playing out is a continuation of the declines to the vicinity of the support zone levels. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 📉*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
9
InvestMate|EUR/GBP Continuation Of Declines Looming💶💷💶💷EUR/GBP Continuation Of Declines Looming 💶💷Post is a direct continuation of my previous post in which I announced the continuation of the declines on EUR/GBP: 💶💷As you can see, it didn't take long for any reaction to confirm the continuation of the declines. 💶💷Today's movement exceptionally confirmed my assumptions. 💶💷The first support zone ahead of us was determined by a cluster of two fibo levels. The first is 0.236 of the downward wave from the peak of 2020 to 2022 bottom. The second level is 0.382 of the upward wave from the 2015 bottom to the 2020 peak. 💶💷There is one more zone below this zone which I think will be the target over the months. The first level with which it was determined is 0.886 of the upward wave from the bottom 0.4.03.2022 to the peak 22.09.2022. The second level is 0.5 of the downward wave from the peak 2008 to the bottom 2015. 💶💷The scenario I'm playing out is a continuation of the declines, respecting support zones along the way. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description. 💶💷*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
12
GBP/USD:BUY from Support Level in Bullish Trend for A LONG SetupGBP/USD following the correlation with EUR and also the Gold it's inside a Bullish channel where the price is making Higher-highs and Higher-lows. Today the price uses the 50 Moving average as dynamic support to have a new pullback in the direction of the main trend. We are looking for a new Bullish impulse. The release of the economic news about the USD Core PPI m/m and PPI m/m may have a positive affect on the pair if the data will be negative.
Long
by FOREXN1
12
InvestMate|GBP/USD Next days. Declines💷💵💷💵GBP/USD Next days. Declines 💷💵Post is a direct continuation of the previous post in which I wrote about the upcoming declines: 💷💵As you can see, we have again hooked the resistance zone where the 0.618 level is located. 💷💵I think this is very strong resistance at this point. Which will not be overcome so easily. 💷💵The downside scenario and target remains unchanged. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 💷💵 *Please do not suggest the path I have outlined with lines it is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
1
EURGBP SHORTAfter some good price action and changing Charachter we have a possible sell on EURGBP. Asia Range filled yesterday and price dropped to create a new LL. Waiting for the Price to come to our OB (Order Block) @ 0.86369 between 0.86424 and fill the small Imbalance under the OB. Entry: 0.86369 SL: 0.86469 (10 Pips) TP 1 is 3% which is the Asia low from Today (30 Pips) TP2 is 7% which is the next Asia low which still has to be filled. (70 Pips) What do you guys think about this Idea? Leave comment and a like!
Short
by KurzRamon
7
💷GBP/CAD Get Ready For It💷GBP/CAD Get Ready For It 💷Everything looks like GBP/CAD has no intention of making a correction any time soon. 💷 There is a resistance zone ahead which I believe will be broken through. 💷 If this happens the way will be opened to the strongest resistance zone ahead. 💷The first resistance zone was determined by two fibo levels. The first is 0.618 of the entire downward wave from the 2008 peak to the 2022 bottom. The second level is 0.382 of the entire downward wave from the 2015 peak to the 2022 bottom. 💷The second stronger resistance zone was determined by a cluster of up to three levels. The first level is 0.786 of the entire downward wave from the 2018 peak to the 2022 bottom. The second level is 0.5 of the entire downward wave from the 2015 peak to the 2022 bottom. The third level is 0.236 of the entire downward wave from the 1998 peak to the 2010 bottom. 💷The support zone is around the 0.5 level of the entire downward wave from the 2018 peak to the 2022 bottom. 💷The scenario I'm playing out is a continuation of the upside with a breakout of the first resistance zone and then a continuation of the upside to the second. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
Long
by InvestMate
6
InvestMate|GBP/USD Falling to support zone💷💵💷💵GBP/USD Falling to support zone 💷💵As I predicted in the last post perfectly the start of the declines: 💷💵This time I would like to update my perspective and bring you up to date with the current key spots on the chart. 💷💵The nearest support zone is around the 1.19 level where the fibo level of 0.236 of the current upward wave from the bottom is located. 💷💵Very likely we will see this level in the coming days. 💷💵The stronger support zone is around the 1.16 level, where there is a cluster of as many as three fibo levels. The first is the 0.382 level of the same wave as the first support zone. The second level is 1.272 of the entire upward wave from the 2001 bottom to the 2007 peak. The third level is 0.886 of the entire upward wave from the 1985 bottom to the 1992 peak. 💷💵I don't know if the price will get as far as there, but I don't rule out any option. 💷💵The scenario I am playing out is a continuation of the decline with a target level at the first support zone where I expect some kind of reaction. I will be watching the price behaviour closely at this point. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 💷💵 *Please do not suggest the path I have outlined with lines it is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
33
GBP/JPY rises on the horizon💷💴💷💴GBP/JPY rises on the horizon 💷💴The same as for EUR/JPY 💷💴It looks like the Pound will follow the Euro's path and also start a journey northwards. 💷💴All thanks to the defence of the support zone and a strong reaction towards the north. 💷💴The support zone was determined by the fibo level of 0.618 of the entire downward wave from the 2015 peak to the covid bottom 💷💴There are two resistance zones ahead. 💷💴The first based on the 0.382 level of the entire downward wave from the 2007 peak to the 2011 bottom. The second based on the 0.786 level of the same wave as the support zone. 💷💴The scenario I'm playing out is a continuation of growth, not excluding a reaction at the first resistance zone with a target at new peaks. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully. 💷💴*Please do not suggest the path I have outlined with lines it is only a hypothetical scenario. 🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
Long
by InvestMate
8
AUDUSD BEARISH BREAKOUTPair: AUDUSD Timeframe: 1D , 4H Analysis: Round number level, trend line, volume profile , support and resistance, double top ————— Key Takeaway: Strong USD has brought this pair down today with alot of bearish momentum, we are looking for a break and re-test of support before entering short most probably at the beginning of tomorrows session ————— Level needed: need a close by 0.66980 ————— Trade: Short RISK:REWARD 1:5 SL: 75 TP: 300 ————— DO NOT ENTER OUR SETUPS WITHOUT CONFIRMATION
Short
by TheGoldRoom