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Poundsterling

GBPJPY H4, possible 7th hit to trend line.GJ has been in an uptrend for a few months now on the higher time frames and has been respecting a 4 hour trend line. Price is currently going through its pullback phase and approaching this trend line for a possible 7th hit. This area is also in a clear support and resistance zone. Monitor what price decides to do when it gets closer to the trend line. If price slows down and doesn't breakout of the uptrend, look for a bullish entry. However, if price breaks through the trend line, wait for a retest on a lower time frame before entering a sell.
by iamarielle_868
GBPUSD | PERSPECTIVE FOR THE WEEKWith over 100pips against us since my last publication (see link below for reference purposes); The increasing risk of a No-Deal Brexit is beginning to reflect in market structure as momentum remains to the downside which is also aligning with my last week expectations. Breakdown of my Key level @ 1.33000 on Friday with an Engulfing Bearish candle sets the Pound for its first weekly loss in a month with a risk of further decline in the coming week(s) as I look forward to a retest of this zone. Tendency: Downtrend ( Bearish ) Structure: Trendline | Breakdown | Support & Resistance Observation: i. From a holistic perspective, the GBPUSD is sitting on an uptrend prevailing structure considering Bullish Trendline on our Daily chart. ii. Since the price hit peak @ 1.35000 (a psychological level respected since Nov. 2017), we have experienced a downward spiral since the beginning of the month (Sept. 2020). iii. Breakdown of my Key level coupled with a breakdown of the Temporary trendline (1.32000) is a confluence that could signal a decline in the coming week(s). Trading plan: SELL confirmation with a minimum potential profit of 600 pips. Risk/Reward: 1:6 Potential Duration: 4 to 10days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
GBPCHF: How To Catch a Pullback? good morning, guys GBPCHF reached a strong resistance of a rising wedge pattern. taking into consideration oversold rsi with divergence on 8h/4h charts and a double top formation with a confirmed violation of its minor support on 1h, chances are high that the price will retrace. to catch a bearish movement you can sell the retest of broken support or just enter aggressively depending on the desired r/r. targets: 1.2037 1.2017 stop above the tops good luck!
Short
by VasilyTrader
7
GBPAUD: Consolidation and Complete Indecision GBPAUD is stuck between two key daily levels. the price is consolidating within a wide horizontal trading range. 1.814 is the support of the range. in case of a daily candle close below that, the price will most likely drop. target level will be 1.796 1.839 is the resistance of the range. in case of a daily bullish violation of that, the price may continue the July's bullish rally. target level will be 1.853 also note that for intraday trading, you can short the market from the resistance of the range and buy from its support. currently the boundaries of the range serve as supply and demand areas. good luck
by VasilyTrader
5
GBP-AUD STRUCTURE ANALYSIS|TRADING PLAN The pair had broken out of the long term downward resistance line and is now consolidating below the resistance in the bullish triangle/flag. Even though the pattern is bullish, it can break out either way, thus: TRADING PLAN: 1-wait for the breakout, either way 2-make sure it is confirmed 3-Enter the position on the pullback, according to the direction of the breakout. 4-The ultimate targets are the support and the resistance. Thank you for reading, like and subscribe and have a nice day!
Long
by ProSignalsFx
3
GBPCAD: Structure Based Trading Plan GBPCAD is trading in a local bearish trend. on friday 4H structure resistance was reached and from that, we expect a bearish continuation. the price formed a double top with a lower high formation on 1h, confirming the strength of 4h structure and now we are looking for a bearish violation (1h close below) of its minor support 1.735. as soon as the above mentioned condition is met we can initiate a sell order. depending on the desired r/r you can sell aggressively or on retest. our goals: 1.7312 1.7265 if the market closes above the current 1H structure high, setup will be invalid. good luck
Short
by VasilyTrader
8