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Pounddollar

GBPUSD- Short into a long trade.GBPUSD: We have seen the DXY fly to its weekly highs over the past few months. In my opinion we will start seeing resistance play out on the DXY; which indicates we will see a bearish dollar; implying GU will turn bullish. As you can see on the chart, I have labelled the blue boxes (4hr areas). From my analysis I can see GU falling towards 1.24500. From that point I will be looking for long positions back up. Reasoning for bullish movement: The daily has closed as a bullish engulfing, moreover has rejected the weekly 61.8% fib level. On the 1 hour timeframe we have also broken market structure; plus the DXY looks bearish. If we get the short move back towards 1.24500, price action would have formed an inverse head and shoulder formation; which is an additional bullish confluence. Hope everyone has a great weekend, remember NFP (non farm payroll) is this friday, so markets may be very unpredictable. Thanks.
Long
by Charl13Scrutton
1
GBPUSD TO 1.3 BEFORE ANOTHER DROP?GBPUSD broke below 1.3 because of the UK PMI negative news, now looking for a potential pullback at 1.3 to short cable down to 1.27 Next week will be very volatile as thethe four largest U.S. companies by market capitalization: $AAPL, $MSFT, $AMZN & $GOOGL will report Q1 earnings! and this is something you don't wanna miss out if you are interested to trade this setup. You can see here the trend of both DXY & BXY , DXY is clearly trending up against the BXY.
by dogofwallstreets
2
Forex analysis looking at the GBPUSD 1.30 the bottom?I am looking at the GBPUSD on a daily chart. It looks a lot better after holding 1.30 support levels and then the breakout. I would like to see a nice break above 1.32 resistance and go from there to really determine if the pound is really ready to turn thing around. Next would be 1.34. We can look back in the past and see levels of support are now resistance and also the lower highs and lower lows confirming the downtrend. I do not trade forex much these days but I still look at the major fx pairs daily just to see what's going on. Edit. In my pink bubble I wrote .132 but of course it is 1.32
Long
by Dancharles
GBPUSD 27.02.2022Looking to short GU from 1.35000 zone Confluences: - GU was ranging without any signs of momentum. Last week, a breakout of the range occurred after a massive push to the downside - Broke below 1.35000 support region without retest. - Retest level (1.35000) which is currently the support-turned-resistance level falls inline with the 61.8% fib reversal levels. A potential push to higher fib extensions may occur, will look for signs of rejections once market reaches the sell zone
Short
by YajnaR
GBPUSD Under Pressure on Brexit Uncertainty US Dollar firms near 16-month highs. GBPUSD is under pressure at five-week highs. USDCAD pulls back on Omicron easing fears. GBPUSD technicals The British pound has been one of the best performing majors amid the dollar strength across the board. The GBPUSD pair has since bottomed out, powering to five-week highs amid renewed bidding on the GBP. After bottoming from lows of 1.3172, GBPUSD bulls have steered a rally to highs of 1.3455, which has emerged as a short resistance level. A breakthrough in the resistance level should pave the way for a rally to highs of 1.3513, the next substantial key level. Fundamentals The bullish biases on GBPUSD comes on traders reacting to a more hawkish Bank of England, which hiked interest rates amid the uncertainty triggered by the Omicron variant. The monetary policy tightening all but fuelled pound strength against the dollar. For deeper analysis: forexezy.com
by Forexezy_com