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Sterling

HAS ANYONE ELSE NOTICED THIS MASSIVE FALLING WEDGE ON GBP/USD?Hello my beauties. I think that the cable has just broken a massive falling wedge. I believe it might kiss the trendline goodbye before leaving for good. If the pattern is set to complete, the opportunity could be massive. If you find this idea to be helpful like, follow, and drop a comment below if you'd want me to analyse a different pair. Consider supporting me if you think I am providing you with value. Peace. Luca, TrickleDownFX
Long
by TrickleDownFX
EURGBP may setup for another bullish move with a bull flag. The EURGBP has held recent gains well coming out of a "false breakdown" a few weeks ago on the break of the .8470 support and reversal out of the descending wedge. Since then, the EURGBP rallied to test the 61.8% Fibonacci retracement of the July high to August low at .8584. From here, dips to the .8525 level could find support as a bull flag is setting up. Whenever you get a sharp reversal, then a shallow pullback, the risk builds for a continuation move. 
Long
by ForexAnalytix
GBPUSD Plan of action.GBPUSD Potential price movements heading into this week, I expect price to reach that contraction we saw at the top in GU, I would expect to see a reaction here, if we are going to see strong $, if we get to this block, we can look to short weakness down to new lots, for the time being I believe we are in a continuation pattern and we can look to trade GBPUSD up before a demise, with a big 4h pinbar in DXY right now, it could be a good time to find an entry.
Long
by UnknownUnicorn25686702
2
GBPUSD - To Break LowerGBPUSD H1: Lots of confluence on GBPUSD here points to a break lower. Here we have a rejection of the 4 hour descending TL (on the 4 hour chart this also lines up with a rejection of the 100 EMA) The bullish push on the last hour candle I believe is one last run up before price continues its decline. 1.38 is holding as an area of support but if this breaks I believe we will see sub-1.38 prices today. With 1.39 holding as such strong psychological resistance i am definitely in favour of further bearish movement. The short position tool added to my chart highlights an excellent R:R of 1:4 with the target being at the 1.37500 mid-psychological level. let's see how this plays out! Hopefully some USD strength on New York open can provide further momentum to reaching target.
Short
by MMQ_FX
GBPUSD - To Revisit June Lows?Lots of confluence pointing toward a decline on GBPUSD here. Here we see the rejection of the identified resistance area, in line with the downward trendline. Price is holding well under the 200 EMA also. Price action on the last hourly candle also infers a reversal. I don't really like this pair due to both GBP and USD being two dominant currencies - I find the fundamentals hard to predict! But here I think the technicals line up nicely for a sell off. Stop loss can be placed above resistance at around 1.39400. I'll set TP at the 1.38000 psychological level. Nice R:R, let's see how it plays out! Let's watch out for 1.38800-600 though as this could be an area of struggle.
Short
by MMQ_FX
4
GBPJPY 1H Drop IncomingGBPJPY showed sharp gains on Mondays Asian and European sessions with the pair rising from a bearish 151.500 to 153.750 at its peak, looking primed to continue back towards the 155 mark which the bulls have been pressuring and sustaining since late May. Coming into todays European session, the currencies volatility had worn off and the pair has been stuttering early this morning in the mid 153 range, this could be the bulls taking a breaking on the resurgence ready to make a move towards the day end, however the more likely situation is that the bulls are exhausted and so is the sterling. After posting great gains over the past few months the sterling has gone from strength to strength, no worse the Yen which has also showed remarkable strength and gains. The Former however is struggling to maintain this momentum and the pound has been slipping its grasp in the mid 155 range for a few weeks now. This could be down to the how well the Yen has performed but the pound's ground beneath its feet is slipping with Boris Johnson's delay of lockdown easing and the 'Delta variant' supposedly creating a whole new problem for the UK and its plans to get the economy back on track. With the Bank of Japan's monetary policy meeting minutes kicking off in the next asian session, we can comfortable predict how the Yen will react after seeing its response to previous BoJ announcements. This will push the Yen higher and ultimately leave the GBPJPY pair looking negative. The sterling has no key fundamental economic releases on the calendar till tomorrow which leaves the stage all set for the Yen in the next Asian session. This enforces my view on the pair slipping back down to the 152 ranges until the Pound takes centre stage tomorrow afternoon where we can see some volatility. On the Technical analysis side of things, we can see the trend angle of yesterdays resurgence as unsustainable as the pair has slipped so much and pops upwards too sharply to allow any support to be built beneath. It was met with resistance at 153.500 to 153.700 and is struggling to break its barrier. It's since slipped to 153.300 today and isn't showing strong enough signs of breaking the resistance. It may form some degree of support here but there's not enough data to show the pair will as its too short of the Mid may support level of 153.300. The pair has also dropped beneath the SMMA showing further signs of a drop incoming. I expect a drop to 152.500 and I'll check back in on the pair then to see how sterling and yen are fairing most likely after tonights Asian session. We may have another opportunity to catch the fall back down to the support of 151.400 but theres not enough signs for me personally that the pair can't rebound at 152 and head back upwards. I look forward to seeing how this one plays out.
Short
by KaineArkinson1
1