Buy the dipsGBPUSD broke out of the wedge and we are heading to the 127% extension price of 1.4585
Not to rule out an even further extension to the 150% extension sitting at 1.4790
I have already started buying cable and will look to add to my trades when it retraces on intraday charts.
I wish you all prosperous trading.
Pounddollar
GBP/USD - 2018 Outlook - 2500 pips Trade - BUY & SELL Levels"GBP/USD – Break-out – Last Bullish Impulse – End of Cycle" article represents a last possible Bullish Outcome for GBP/USD in 2018, as multiple facts point out towards an unstable Pound.
GBP/USD is overall trading within a Corrective Structure, more exactly in a Triple Three, with the last Bullish Swing awaiting to unfold, thus completing the entire Correction and the larger degree Cycle.
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GBP/USDI will continue to consider GU in a zig zag move down looking to any flags for entries. It needs to break the low as it still has the potential to make a larger 1-2-3 correction and breaking out of fork forming larger structure, but looking like in a downtrend. If so, there is a rough estimate how it will wave down. You should already be in this trade from much higher and holding if you listened to me.
GBPUSD Strong Confluence BounceFeb 12, 2018
GBPUSD's price action just bounced off on Friday on a strong technical area of interest. There lies a confluence of 31.8% fib (2018 High and Low), ema50 as support, and an rsi divergence.
Go long on shorter time frames. Look for an opportunity to enter long.
Updates shall be posted on the comments. Stay tuned!
GBPUSD The Bull of the West!!GBPUSD and EURUSD have shown true resilience in the last year with a constant uptrend in formation.
There have been multiple bull runs on a frequent basis after it was brutally hit hard and tanked. But as they say
A Set back is a Setup for a come Back. GBPUSD has been constantly creeping up trying to reach the stability levels.
We can see a slight pull back in GBPUSD after hitting the resistance level of 1.3850 Area and down to 1.35 support level.
There's a very much possibility of it reaching 1.44 in the coming quarters after rebounding from the 1.35 support level.
Current scenario predicts that we will see a short term sell of from the area mentioned as it is clearly overbought.
GBP/USD meets 100-hour SMAGBP/USD meets 100-hour SMA
Previous trading session the Pound ended with a 104-pip fall against the Dollar. The support was provided by the 100-hour SMA. Most probably this indicator will continue to drive the cable up to the 55-hour SMA located at 1.3553. Even in case of release of disappointing British Services PMI data the pair is not expected to fall below the 1.3500-1.3580 marks as this support area is additionally secured by the 50% Fibonacci retracement level and the weekly PP. However, in larger perspective the buck is expected to take the lead once again. This assumption is supported by traders’ sentiment, which is predominantly bearish as well as allocation of pending orders which are mostly set to sell.
GBPUSD - One more push downward.GBPUSD is getting ready to spike up. A fall to 1.3236 will signal the start of an uptrend continuation for the pair.
Another scenario, I'm watching is a break of the area in yellow. If price breaks and retest that area I'll consider longing the pair. This scenario is improbable for the time being.
Just an idea, not a signal
GbpUsd - A Weak Usd Points To Further AdvancesLast week price broke and stayed above the key area of resistance and multi-week range top at the 1.3270 area. This coupled with a weak USD points to further advances in the GbpUsd. If Cable can break above the key area of resistance at 1.3341 a run towards 1.3447 is on the cards.
GbpUsd - Range PlayLast week marked the 7th week of the GBPUSD range and as a result we simply look to play the range next week. A test of the range top at 1.32696 will provide a chance to look for Short opportunities first of all down to the range equilibrium point at 1.31550 with an ultimate view to key support at 1.30342 and 1.29799 respectively.
GbpUsd - Short Despite RangeThe GBPUSD continued to range last week failing to sell of from the equilibrium point of the range around the 1.31550 area. Expecting the higher probability of the breakout to be to the downside (the same way price entered the range) a re-test of the range top next week at 1.32696 will provide a great place to look for Bearish formations for short back to the equilibrium point and potentially down towards the targets of 1.30342 and 1.29799 in the coming weeks.
GbpUsd - Further Declines Expected After BofE DataGBPUSD sold off heavily last week after Bank of England data breaking key support at 1.31550 hinting at further declines. A pullback and retest of broken support turning resistance at 1.31550 will provide a great place to look for Bearish patterns for shorts down towards the targets of 1.30342 and 1.29799 respectively.
pound yen long trade 1 good evening everyone
here is my take on pound yen tonight
- trend is long currently
- I took this trade once we broke the previous double tops where I felt could be an area people would be looking to sell
- it retested the double tops and kept pushing forward and I entered on the higher close
- overall my tps are labelled in orange and will hold until either tp is hit
regards Kris
www.mymentortv.com
Upcoming short for the cable! (GBP/USD)With a lot of financial news bombarding us this week I find it good just to look at the higher timeframes just to see where we are in the bigger picture... As you can see this setup is like the UJ setup I posted on here last week that is now 60 pips in the profit (as I write this). Just a simple setup with support and resistance that can offer us a nice RR and low maintenance with a trailing stop.