A bit late to this one, but if the price moves back above the breakdown area, I’ll consider taking a short position. There’s significant weakness against the dollar in most pairs. This could be short-lived, but it looks like this one might be rolling over for good, at least down to the mid-level. A conservative target is 1.2950. If things go as expected, we...
After a bearish weekly candlestick, GBPUSD firmed a endless pullback and tried to BO above last high that was unsuccessful and pushed price lower. Endless pullback, lower high, double top and now bearish BO are signs that Pound sterling can weak against US Dollar. Trade safe. Good luck.
GBP/USD is another “goes lower in the bad times” asset - this time in the forex market - USD is the haven currency and GBP for whatever reason is deemed more risky. GBP/USD had broken out to multi-week highs but stuttered since. This could be a natural pause before the upside moment resumes or this is a ‘fakeout’ and we’re heading for another test of the...
GU Analysis for This Week: My outlook on GU this week largely depends on how the market opens. If the price moves downward and breaks structure by taking out the liquidity at the swing low, I expect a retracement to the 12-hour demand zone. In this scenario, the 10-hour supply zone I marked would become more valid, although there is also a possibility that price...
My analysis for GBP/USD (GU) looks promising for both buy and sell opportunities. With the recent shift in market character to the downside and a break of structure, we may see the price entering a downtrend. However, there are key zones lined up that could support either scenario. Currently, the price is approaching a significant demand level at a psychological...
My expected analysis for the week is that price will slow down at market open and potentially sell off from the 16-hour supply zone. Once price enters this zone, I will wait for an Asia high sweep and look for distribution on the lower time frames. If price breaks through this supply zone, there is an 18-hour supply zone where price might react. However, since...
Big bull channel, endless pullback, bear break out, pullback to sell climax and now, time to sell pound sterling against US dollar. Good luck.
I'm eyeing a long opportunity for GU at the 5-hour demand zone around 1.2700. The price has changed character to the upside, leaving a clean, unmitigated demand zone with a small imbalance above. While price might dip into a supply zone or move up to mitigate the 22-hour supply zone for a potential sell-off, I’m more inclined to see it return to the demand level...
This week, GU is expected to align with its bearish trend. Following the recent downside structure break, I anticipate a retracement back up before continuing lower. Once price reaches the 22-hour supply zone, I will look for distribution on the lower timeframe to confirm the continuation of the bearish trend. If price continues to drop and hits the 9-hour demand...
The Pound-Dollar pair is unable to capitalize on the positive movement following the FOMC meeting and is fluctuating in a narrow trading range during the Asian session on Thursday. Spot prices are currently trading around the mid-1.28000s, almost unchanged for the day as traders prefer to take a wait-and-see approach in anticipation of the Bank of England (BoE)...
The Pound-Dollar pair is trading on a stronger note around 1.28750 in the early hours of European trading on Monday. The dollar's decline amid hopes of an interest rate cut by the US Federal Reserve (Fed) in September is providing some support to the major pair. The US Federal Reserve (Fed) interest rate decision will be published on Wednesday, no changes in the...
I am looking for sell opportunities in GBP/USD. Recently, the price dropped and broke structure to the downside, indicating a bearish trend. To capitalize on this move, I expect a retracement back to our marked points of interest (POIs). Once the price retraces to these POIs, I'll be watching for a Wyckoff distribution pattern on the lower time frame to initiate...
GU sell opportunities are looking increasingly favorable as the dollar continues to rise. We now have some high-quality supply zones, specifically the 19-hour and 4-hour zones. If the price breaks the nearby low and structure again, the 2-hour supply zone I’ve identified will become more valid. Since the price is not near any of my high-time-frame points of...
This pro-trend idea aligns with the current bullish momentum, as we see price break structure once again. The recent impulsive move broke the previous supply, creating a new demand zone. I will now await a pullback to this demand zone, specifically a promising 3-hour demand. However, I won't be surprised if price continues to climb, reaching a supply area and...
The Pound-Dollar pair fluctuated between weak gains and minor losses around the 1.29000 mark during the Asian session on Friday and remains within striking distance of the yearly peak reached the previous day. The US Dollar (USD) is attracting some buyers on the back of a good rise in US Treasury yields and is moving away from the near three-month low reached the...
The Pound-Dollar pair briefly tested a fresh four-week high on Monday, rising above 1.28400 before broad market flows pushed cable back down to the week's opening prices just above 1.28000. UK data remains sparse this week, with traders' expectations facing an overly cautious Federal Reserve (Fed). Fed speakers are pushing for further signs that US inflation is...
The Pound-Dollar pair starts the new week on a subdued note and remains within striking distance of the lowest level since mid-May reached on Friday. Spot prices are currently trading around 1.2635, with bears waiting for a sustained break and consolidation below the 100-day simple moving average (SMA) before positioning for a continuation of the recent pullback...
My analysis for GU is bearish, and I am currently waiting for a pullback into a daily supply zone to look for shorting opportunities. Once the price taps into my point of interest (POI), I will look for a lower time frame (LTF) Wyckoff schematic to take the price down. With the dollar looking bullish, this analysis aligns well. Additionally, this is a pro-trend...