USD/GBP BUYThe British pound has been strengthening for a long time and will now reach a support level that it is not expected to break through.
USDGBP
GBPUS - Wycoff Distribution and what to expect in comming weeksThe GBPUSD pair is currently exhibiting trading behavior within the range of 1.25300-1.27500, a pattern that aligns with the principles of the Wyckoff theory, a framework used to analyze market trends and anticipate future price movements. This current phase appears to reflect a redistribution phase within the Wyckoff model, characterized by a period of consolidation and distribution of assets among market participants.
In the context of Wyckoff theory, the completion of phases A and B signals the transition into phase C, which typically involves a climactic event that triggers a change in market sentiment. In this case, the recent entry into phase C coincided with a climax buy following the release of initial USA economic data on Friday, suggesting a potential shift in market dynamics.
Furthermore, technical analysis reveals the presence of the 61.8% Fibonacci retracement level around the 1.27 level, which has historically served as a significant resistance level. The convergence of this Fibonacci level with the current trading range adds another layer of significance to the price action, potentially reinforcing the distribution phase described by the Wyckoff theory.
Looking ahead, market participants are closely monitoring upcoming events such as Powell's testimony and the release of NFP data, both of which have the potential to influence market sentiment and trigger significant price movements. Additionally, the impending 2024 United States primary elections scheduled for March 5th are expected to introduce heightened volatility and uncertainty into the market environment.
Despite the short-term fluctuations and potential upside movements driven by these events, the overall market sentiment remains cautious, as evidenced by the recent closure of the monthly candle in the red. This bearish signal suggests a prevailing downward bias, with further downside potential in the near future.
Taking into account the broader market context and technical indicators, including the Wyckoff distribution phase, the 61.8% Fibonacci retracement level, and upcoming fundamental catalysts, we anticipate a downward movement towards the 1.18 level on the GBPUSD pair in the coming weeks.
It is important to note that this analysis is based on historical patterns and technical indicators and should not be construed as financial advice. Individual traders should conduct their own research and consider their risk tolerance before making any trading decisions.
GBPUSD | I BELIEVE COULD BE A GOOD BUYHey Traders!
I'm currently eyeing GBPUSD as a solid buy opportunity. Here's why: we're seeing a clear uptrend, and importantly, it's just broken through a key monthly pivot point. What's more convincing is the formation of a 4-hour bullish engulfing candlestick pattern. Also, the 1-hour chart shows a double bottom that's successfully broken its neckline. After a brief pullback, it seems poised to retest its previous top levels.
Keep an eye on the 1.28000 mark. It's shaping up to be a strong resistance level, but if it's breached, we could be looking at some serious gains. However, always remember to manage your risks wisely. I'd suggest setting your first take profit target within the 20-40 pips range.
USDZMW/Technical AnalysisWe might see a strong buy side liquidity on USD/ZMW, W formation formed on Monthly Time Frame after price hit our MTG at k15 which is likely to head back to k22.50 Zone, it has also broken another liquidity zone (OB) at k19.28 meaning that we still have a strong bullish run, Price might be heading back to fill the VOID from the heavy sell liquidity we had from July 2021 - August 2021.
Kwacha is yet to depreciate drastically till proper Fundamental and Economic Policies are put in place.
GBPUSD shortR1 entry.
Entry order let's the market take me in instead of forcing an entry.
Target is 2% or bust. Hold until trade hits 2% or hold until full 1% loss. I would argue that putting your SL at BE once price hits 1% is a good risk management method but it can build bad habits. this trade for example would be close at BE already.
GBPUSD | COULD THIS BE A GOOD SELL?Hey Everyone!
I believe this pair has the potential to go down for the following reasons:
- NFP came out positive for the US Dollar
- Strong resistance zone 1.26500
- Psychological level at 1.2600
- Resistance meets the 100 moving average on the weekly
I believe currently it would be wise to wait for that re-test of resistance before entering since the 1-4h & daily timeframes are in a fairly strong up-trend.
I don't think it will last long, however for favorable entry now is not the time to enter, wait for a push to the resistance and then look for a bearish candlestick confirmation to enter, this would give you a great risk-reward and could potentially drop down to re-test the up-wards channel bottom.
Good Luck!
Short - Head and Shoulder formation Looking at the 4 hour chart, we can see a nice head and shoulders formation. I'm looking to sell
TP 120120
SL 123400
CABLEUSD / GBP take advantage of the recent pull back for a short trade into us jobs report. this is inline with my long USD theme since mid feb, find posts under username SEMISHAH
The secret to time your Shorts right.A short too early is as good as being wrong.
Analysis of DXY on shorter time frames can help you time your shorts to perfection in this environment of Inflation.
your opinionOur trend is upward, so we expect correction and then growth
Considering the important area and the important level of Fibonacci, it can be said that the growth starts from that area
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FX:EURGBP
USDGBP long positionall you need to know is in chart
good lock
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💵British Pound/U.S.Dollar 💵Analyze (Short term, 12/19/2022)!!!
British Pound/U.S.Dollar completed the double zigzag correction on PRZ(Price Reversal Zone).
I expect the British Pound/U.S.Dollar will continue this downward trend.
🔅British Pound/U.S.Dollar ( GBPUSD ) Timeframe 15min⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
💵British Pound/U.S.Dollar 💵Analyze (12/15/2022)!!!British Pound/U.S.Dollar was able to make a double top pattern on the resistance zone.
Also, the British Pound/U.S.Dollar broke the important uptrend line.
I expect British Pound/U.S.Dollar will go down to PRZ(Price Reversal Zone).
🔅British Pound/U.S.Dollar ( GBPUSD ) Timeframe 30min⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
DXY D1 - Awaiting dollar exhaustionDXY D1 - Two extremely bearish days to end the week last week for the dollar, inflation figures coming in lower than expected has really highlighted the possible pivot for the FED, inflation and interest rate woes. Simply looking for this bear run to expire, from here, we can then look for some healthy corrections, before then trading amongst new and fresh trading zones we haven't seen for a few months.
GBPUSD SHORTGBPUSD pair in the short term;
tp1:1.13930
tp2:1.13530
will want to test your levels.
it is not investment advice.
💵British Pound/U.S.Dollar 💵Analyze (Short term, 10/25/2022)!!!British Pound/U.S.Dollar was able to break the upper line of the Falling Wedge Pattern.
I expect the British Pound/U.S.Dollar will go UP at least to the resistance zone.
We can even see a Pennant Pattern on the British Pound/U.S.Dollar, a 15min timeframe chart.
🔅British Pound/U.S.Dollar ( GBPUSD ) Timeframe 15min⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
💵British Pound/U.S.Dollar 💵Analyze (10/10/2022)!!!British Pound/U.S.Dollar moved as I expected ✅👇
British Pound/U.S.Dollar is making the Zigzag correction while it seems the end of wave A was completed by Double Bottom Pattern.
I expect the British Pound/U.S.Dollar will go up until the target that you can see in my chart.
🔅British Pound/U.S.Dollar ( GBPUSD ) Timeframe 1H⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
💵British Pound/U.S.Dollar 💵Analyze (10/04/2022)!!!Yesterday, British Pound moved as I expected ✅👇
British Pound was able to complete wave 5 near the resistance zone, and I expect it will go down at least to the end of wave 4.
🔅British Pound/U.S.Dollar ( GBPUSD ) Timeframe 1H⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
💵British Pound/U.S.Dollar 💵Analyze (10/03/2022)!!!The British Pound was able to complete wave 4 and is on its way to completing wave 5 in the resistance zone.
I expect the pound to temporarily break the resistance line, push itself to the resistance zone, and start going down from there.
🔅British Pound/U.S.Dollar (GBPUSD) Timeframe 1H⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Lunatic LoonieThe USD is on its way to loose the value. If you got USD sell them off and buy other currencies.
Triangle structure for dollar indexAccording to the large structure of the target of 1.618-1.382, according to whether the triangle is current or not, it can be seen that this target can be seen within 2 years, and then we will enter the correction structure for the e branch.
