Pounddollar
GBP Try to Gain Momentum on Uncertain Polls GBP is the only gainer vs USD since the beginning of the week as opinion polls suggest the Conservatives could win with as much as a 48-pt majority in next week's elections.
While most GBP bulls appear to be anticipating a Tories majority victory, a Tories win without majority (hung parliament) would depend on the make-up of the possible coalition. An unlikely Labour-Conservatives coalition would be GBP-negative, while a Tories-LibDem coalition is seen the preferred coalition scenario for GBP. A Labour-LibDem outcome would be the worst of these ouctomes.
From technical point of view, GBP/USD still struggle around upper border of the flag on a daily chart. The consolidation from 1.3012 is still in progress and could extend further. The move is bullish and momentum remains to the upside until the pound is trading above 50-day and 100-day SMAs.
On the upside, break of 1.3012 will resume the whole rally from 1.1958 to 1.3180 firstly. The medium-term bullish target stays at 1.33.
For now, the downside pressure should be contained by 1.2769 support. However, break of 1.2769 will bring deeper fall back to the key support area 1.2582/00.
What do you think?
GBPUSD Short to continue the trend down to 1.280GBPUSD is forming somewhat of a leisurely downtrend on the 4-hour chart, lower highs, and lower lows. An impulse move from 1.292 brought price down, which is now the resistance point to watch for on the retrace for a continued move lower. If that support breaks we will see 1.280. If the price moves past that we will expect 1.295 to hold resistance so the FX pair doesn't print a higher high.
It becomes way more bearish if 1.292 holds resistance. This is based on price action and market structure. If long wicks form at this resistance then there will be a strong push to the downside.
GBP/USD in breakout modeFundamentally, we are waiting for the general elections in early December.
We had negative , below expectations figures today for the UK PMIs.
Technically, sterling is trading in a slightly down channel which could be a bull flag given a very fast recovery from all time lows recently.
On the daily chart, we have 2 scenarios:
1- prices keep trading in a range and forms a rectangle, which is a continuation pattern (bullish).
2- prices complete a triple top formation and breaks to the downside (bearish).
In my opinion, the catalyst will be the results of the elections soon..
Good luck
GBPUSD - WEEKLY LONGS - TEXTBOOK BUY SETUPGbpusd - Weekly chart looks rather interesting considering the upcoming general election for UK is due next month. Price is trading in a clean bullish structure on weekly timeframes and I'm anticipating price to pull back up from the highlighted weekly support level which coincides with fib 61.8 level.
GBP/USD: Solid Bull Flag!Hello my dear Forex traders, and welcome to this GBP/USD analysis! ;)
Since the bottom bounce at 1,20, we have now come to psychological 1,30, and are still in a Solid Bull Flag. I'm gonna show you how you would've killed it with our trading system. Have fun watching! ;)
If you had some value from our analysis, give it a thumbs-up & comment it, because the mechanism shows our analysis to other people then. Make also sure to follow us so you get notified on our analyses! I wish you a good trading! :)
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GBPUSD analysis going forwardIt is possible GBPUSD will touch the price of 1.3 before the correction drops to 1.25
GBPUSD break support trend line SHORT ?GBPUSD break green support trend line. Current testing EMA 21. GBPUSD was formed correction structure.
Still Uptrend price action above EMA 50,100 and 200 periods.3:0 Risk Reward plan retest EMA 100 at 1.25905 price level.
Volume: bearish/red volume increased.
Indicators: Bearish MACD crossover above zero line, going to break zero line, RSI above 50 points. First sign of correction.
S/R: Support at 1.2899 EMA 21, Major support 1.26$, Resistance at 1.3 psychology, Major Resistance 1.30125.
Disclaimer: THIS IS NOT FINANCIAL ADVICE. All the information shared here is for learning and entertainment purposes only.
GBP/USD reaches target like forecastedGBP/USD has finished a 3-wave ABC move to the upside like analyzed prior (blue target). The pair could now be watched for reversals. However due to the news this pair has become very volatile so at the moment I would just watch from the sideline. It is possible that we get an overshooting in which case the pair could reach the second target (pink). Eitherway the blue targetzone or the pink targetzone are potential reversal points, overall the picutre remains bearish for the pair at this point in time.
GBP/USD Price Action Analysis | The Safe SetupPound is keep showing weakness against Dollar. Even though shorting at the Range High seems like a good idea, there is still untouched liquidity above. This setup gives a better R/R although being less likely to happen. Playing safe is important.
Entry: 1.2419
SL: 1.2511
TP-1: 1.2211
TP-2: 1.2111
TP-3: 1.1971
R/R: 4.87
Please let me know if you have any suggestions or any ideas to add. I can also give you more detailed explanation for this specific trade setup.
The ideas published here are not financial advices.
GBPUSD POSSIBLE BULLISH MOVEI believe that GBPUSD will complete the 5th bearish impulsive wave and we can start looking for a reversal pattern at the marked zones/prices.
Good luck!
Fibz
GBPUSD breaks the resistance. Buy from the current priceFew days ago we created a support and resistance for the Cable that when it breaks, it will continue. However when market is manipulated nowadays it is tricky to see which will it go later.
However because of the ISM Manufacturing last night, it gives us an idea where the high chances that it will go. Always use a proper risk management because a Trump tweet or a recent trade war deal might stopped you out.
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GBPUSDSecond position
D- Currently at monthly resistance, forming new support.
4H- 38.20% fib re-test, demand zone!
POUNDDOLLAR SHORTLooking at Great British Pound Dollar currency presenting Short trade opportunity as seen from the analysis
GBPUSDW- three weeks of consolidation.
D- Consolidation zone broke, re-tested/ closed.
4h- Currently at consolidation zone's resistance level, might fly up to 1.275. Awaiting on fib retest to at least 38.20%.
GBDUSD - SELL - 11th September 2019Hi Traders, here is my setup for GBPUSD Short. Looking good so far.. This is the minimum risk to reward trade I would usually take. Let's see.
GBPUSD - SELLS - 10th September 2019GBPUSD Sell off analysis! Seems pretty straight forward, wouldn't you agree? Monthly resistance not broken yet, and the fibonacci lines up perfectly for a sell. There is a 50 and 200 SMA that price is below too.. but I try not to use too many indicators, as I am a straight up price action trader. Would love to get your thoughts!
GBPUSD forming a bearish Shark | Upto 24.50% expectedPriceline of British Pound / US Dollar forex trading pair is forming a bearish Shark and entered in potential reversal zone to start the formation of last leg soon insha Allah.
Price action is also hitting the support of bollinger bands.
RSI is oversold.
Volume profile of complete pattern is showing less interest of traders at this area.
Stochastic is oversold.
But Stochastic did not give bull cross sofar and MACD is still strong bearish therefore I would suggest to wait for MACD to turn weak bearish or for Stochastic bull cross signal then buy.
The potential reversal zone can be used as stop loss in case the complete candle stick closes below the PRZ area.
I have used Fibonacci sequence to set the targets:
Buy between: 1.22420 to 1.17505
Sell between:
Secure targets:
1.27537 to 1.38147
Aggressive targets (upto the completion of leg)
1.41488 to 1.46370
Regards,
Atif Akbar (moon333)
USDGBP hitting down channel support | A good long opportunityIf we see the movement of price action US Dollar / Pound Sterling then it giving easy profits within the channel by hitting bollinger bands support and moving up even most of the times it is not hitting the channel's support but moving up after hitting the bollinger bands.
But this time it is hitting the channel's support and the lower bands of bollinger bands both at a time moreover price action is also hitting the 50 simple moving average support, so this time the chances of bullish divergence are more stronger.
MACD is still strong bearish and Stochastic is almost entered in oversold but did not give any bull cross sofar therefore I would suggest to wait for MACD to turn weak bearish from strong bearish or for stochastic bull cross then take the long position.
I have used Fibonacci sequence to set the sell targets.
Sell between: 0.81973 to 0.83048
Regards,
Atif Akbar (moon333)
