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Pounddollar

GBPUSD high probability entry setup in the next few hours.There is possibility of a head and shoulders pattern forming, along with macd divergence, and a break in the uptrend, IF and only IF those three come true, we have a chance of entering the trade when price retests the neckline and starts moving down. Only once that retest is complete and price starts it's journey to the downside will we even think about entering this trade. Set a "crossing up" and a "crossing down" alert below the neckline to make monitoring this possible set up easier for you. Remember not to over leverage any position no matter how "sure" you are.
Short
by yashp1
NFP Forecast GBPUSD by ForexSQGBP/USD has been staying in a consolidation channel for the past two months since Brexit. Positive NFP numbers may force the pair to test 1.28 level. In case that support is violated, 50% Fibo expansion of Brexit fall around 1.24 level could be the next target. 1.33 area where Fibo 23.6% retracement is located can hold as a strong for a resistance for a while. 50 DMA is still staying below 100 DMA. RSI is close to 50 area and seems neutral at the moment and can stay around that level until NFP numbers are released. It will be difficult for GBP to gain back the value following Brexit against USD since BoE and Fed are to follow different paths as far as their interest rate policy is concerned. BoE is expected keep expanding its monetary base to offset the negative impacts of Brexit in future meetings. Read more at www.ForexSQ.com
by ForexSQ
My GBP/USD Range For Week 24 Of 2016From what I am expecting is that the GBP/USD will consolidate in this 1.40-1.435 zone (unless there are some new fundamentals, and with Brexit 2 weeks away I will not be surprised. This is the zone I am looking to trade the GBP/USD in, until it breaks out either way. Anyway, expect lots of volatility next two weeks. This week is also a big one, so anything is possible, trade with care. By the way, I am in no way, shape or form an experienced trader (or maybe not even a trader), so follow this at your own peril :)
by ibo2
The BREXIT three to watchBREXIT fever has hit the world of forex. I suggest these are the big three to watch: GBPUSD, EURUSD, and GBPEUR (or EURGBP). There is a macro-psychology operating out there I suspect. In times of trouble and uncertainty human nature tends to take the safe position. Hence Sterling has taken a step down for the moment because the reality is that 'everybody' wishes to safeguard their positions. However in recent days there is a growing realisation among some that Sterling simply won't just roll over and fall off the charts. If Britain does BREXIT, the uncertainty would be put to bed (at least for a while). -The EURO has been in trouble for the last 5 years. Also, watch for the next shock wave expected to hit Deutschebank - over leveraged to the tune of 73 Trillion . (This does not mean that the EURO depends totally on Deutschebank) -The European Union has been crumbling economically for quite a few years. Some know about it and some don't. The Union may not withstand a Brexit. The whole 'house of cards' may come tumbling down in the year or two following Brexit. - If Britain Brexits, I suspect the pound will take off like a rocket in the week or two after. - Turbulence in the forex markets will 'infect' the stock markets. Britain is a resourceful nation - its people willing to sacrifice for a greater end. The Brits mean business. As I travel all over the UK all I see in every major city is extensive overhauling of buildings, construction of new structures, and roadways. Business is booming here. I think they've been preparing for Brexit for at least the last 5 years. Brexit - should it happen, will simply be the starter's shot At the moment - if Brexit, my expectation ( not prediction ) is for GBPUSD to fall further but then rise again like the Phoenix. I expect EURUSD to fall in the next few weeks and continue south whatever happens. I therefore reason that GBPEUR or EURGBP are safer at this time or over next few weeks. If no Brexit - sterling is still likely to rise, as uncertainty is relieved. Britain continues to grow regardless of the state of the Union. This is not a time for fear. We live for volatility! But expected greater degrees of turbulence, means that our risk management processes need to be sharpened up. This is the real business. Sloppy traders will be shaken out. Disciplined traders will have a fun time! Best wishes to all.
by Captain_Walker
2
$GBPAUD Wolfe Wave and Geo Off-Set RuleHello Traders, Here we have 3 Wolfe Wave's(WW) WW #1 - In the grey dotted line. This WW is near it's target at #1 Geo Off-Set Rule at point 4. The Geo Off-Set Rule here plays a role in the next 2 WW's. WW #2 - In blue dashed lines. This WW is internal to both the first and third(in purple) WW's. The Geo Off-Set Rule in the first WW act's as a point of reversal for the internal WW which created a 5" (5 double prime) structure. 5" calls for a Geo Off-Set at point 3. Represented as #2 Geo Off-Set Rule. This second Geo plays a role in the third WW as well. WW #3 - In purple solid line. This WW formed as price was making its way towards the #1 Geo Off-Set Rule of the first WW. The first Geo will act as point 3 of this third WW. When this target hits, ideally price will hit point 3 of the internal WW and give us point 4 of the third WW. The dashed purple line represents how I see this structure forming. This is an observation of the Wolfe Wave and the Geo Off-Set Rule. I would be interested to see how the structure forms. If you agree with this idea please like and follow for more interesting observations. :-} -Chartistry
by GWaves
5
Bad news for shorts?Volume means activity. These volume spikes concern me - something happened. While I will never find out what exactly that was, judging by the fact that the first spike occured almost on the very top (left shoulder, even before I was bearish on this pair - which makes sense) and that we have just had the second spike at the bottom, after the pair fell considerably, I suppose... someone made a lot of money. Now why this someone has just closed his/her profitable short here? I guess he/she knows something. But what? Actually I really want cable to drop to 1.35 and below, if possible. Sorry, good people of the UK. Hi, Mr. Soros! P.S. Spikes like these can also be found of other pairs. And put together they make little sense ;)
Short
by UnknownUnicorn135402
1
Long on GBP/USD BUY BUY BUY !!!Reasons for -Firstly on 4 hour chart we clearly see a down trend which has been broken -We can also see price has broken major trend line which acted as RES -Since we made the low of around 1.41000 we have put in Higher highs and lower high -This signifies a possible new trend forming -Also if we look at the Trend line acting as Support we have had our second bounce On the daily we have been bullish for 4 days before a bearish candle was put in this may have been because of the FOMC meeting which took place Altho we do not have many confluence as id like i do believe its going to go long and my bias will remain bullish till we take out the previous lower high :) Trade safe and maintain a good Risk management strategy My entry 1.24500
Long
by ARFXC
16