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Pounddollar

GBPUSD - Is It Ready For A New Rally?!Good evening Traders, Now, after all the FOMC jazz, let’s have a look at the sterling-dollar. GBPUSD is in an intact uptrend from the 2017 lows making higher highs and higher lows. Which is an indication of a bullish trend. However, don’t get fooled. In the weekly chart, the GBPUSD is bearish and every up move you can see in the daily is just a correction. Now, I identified for you 2 very important things. Let's start with the first observation. 1.) First of all the GBPUSD was testing the resistance now acting as new support at around 1.35941. VERY IMPORTANT!! We had a daily close below it which makes it now a little bit complicated because the down move can be a part of a bigger correction lower where the recent move lower was just the first leg followed by a correction higher and another similar leg lower. Obviously, that is a little bit far away to forecast but yes it is a possibility. 2.) The second very important observation is the 200 day moving average. The last time the GBPUSD tested the 200 moving day average was at 2017-06-21. You can see that on that date the GBPUSD retested in a pullback the 200 day moving average bevor a massive rally occurred which took us about 91 days. First of all, I need to mention to you that I am not expecting a similar rally like we had a year ago. However, I am expecting a pullback to the upside in the GBPUSD but it can also be a part of a new rally, which can take us time wise about 91 days if the history repeats itself. I will watch the weekly close this week to evaluate the situation. With NFPs coming on Friday, it could be a catalyst for the dollar to get weak again. Let’s see. I hope you enjoyed this view. Disclaimer: Trading is about going with the highest probability, nobody is 100% right and we need to protect ourself in case we are wrong. That is why we need to always use a stop-loss when trading. Trade with care. This my current view, and any view presented is not any trading recommendation, just personal view.
Long
by TradeFxTrends
6
GBPUSD: Two Scenarios Possible!!!Two possible scenarios in GU on daily chart. Scenario 1: GU is currently at a support area, if it bounces and rejects the area of support, we can look to long and target 23.6% retracement at 1.37600 and 38.2% at 1.39000. Scenario 2: If GU manages to go lower, it may retest first support at 1.35113 area, further down are 1.34301 and 1.33056 respectively. Assuming price respects the trendline, the downtrend should reverse at 1.3330 area. Look for confirmation and enter. Good luck trading! *Trade at your own risk.
by AngelaFTrading
Pound Against the Dollar...the Tide is Up :-)Financial Markets behave similar to the ocean...it produces waves ...just as much as the ocean doesn't flow smoothly to one direction ...financial markets too have high or low tides...and a high tide in this case a bullish market is a series of lows and highs its not straight highs always :-) this has taken me soo much time hectic days, long nights,,,,,learning learning even more ... am getting there...#thought i should share. Trading is risky not recommended for amateur investors, trade at your own risk, setup ideal for educational purposes. #GBPUSD #POUND sterling #BUcks #Cable
Long
by bree0318
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. *Private details and Support available only for Members.
by EW4X
12
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.
Long
by shaxrashid
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.
by UnknownUnicorn890690