GBPUSD seesaws below 50-SMA after breaking the weekly support line, not to forget to mention the reversal from a three-week-old horizontal hurdle. The pullback also takes clues from the downside RSI and MACD to suggest further downside towards the yearly low marked the last week around 1.1400. It should, however, be noted that a 61.8% Fibonacci Expansion (FE) of...
GBPUSD fades the corrective pullback from a two-year low, as well as the 61.8% FE level of late March-May moves. Also supporting the bounce was the oversold RSI condition. However, the Bank of England’s (BOE) looming rate hike keeps buyers on their toes due to the “Old Lady’s” previous failures to impress. That said, the recovery moves currently need a clear...
A clear downside break of the six-week-old horizontal support keeps GBPUSD bears hopeful of further south-run ahead of the US Federal Reserve (Fed) and the Bank of England (BOE) monetary policy meetings. That said, 1.2255-50 appears immediate support for the cable ahead of the yearly low surrounding 1.2150. It’s worth noting, however, that the quote’s sustained...
GBPUSD not only snapped a two-week uptrend by the end of Friday but also jostles with short-term key support around 1.2480, comprising 100-SMA and a fortnight-long support line. Descending RSI and sluggish MACD also suggest that the bulls ran out of steam, suggesting further downside ahead. Hence, bears appear hopeful of revisiting the 23.6% Fibonacci retracement...
After a rollercoaster ride on the BOE moves, GBPUSD bears flex muscles with eyes on Thursday’s UK Q4 GDP. The week’s start has already confirmed a rising wedge bearish pattern but the sellers need validation from 50-SMA 1.3490. Theory suggests a sustained downtrend past 1.3490 will recall 1.3330-25 levels on the chart. However, 61.8% Fibonacci retracement (Fibo.)...
A corrective pullback on Friday failed to lift GBPUSD beyond 50-DMA, not to forget a fortnight-old descending trend line. However, nearly oversold RSI conditions can challenge the cable pair’s sellers until breaking the 23.6% Fibonacci retracement (Fibo.) of September-December 2021 downside, near 1.3330. Should the quote remains weak past 1.3330, the 1.3280 level...
GBPUSD struggles to defend 1.3270 support convergence, comprising a descending trend line from late July and 61.8% Fibonacci retracement (Fibo.) level of September 2020 to June 2021 upside. Even so, nearly oversold RSI conditions hint at a corrective pullback towards a short-term resistance line near 1.3375, a break of which will challenge the 20-DMA hurdle...
GBPUSD bears retake controls on the key Thursday comprising Bank of England (BOE) monetary policy meeting and important Brexit talks in Paris. Technical set-up hints at further weakness on the pair’s inability to rise past 50-DMA, coupled with the bearish MACD signals. However, a clear downside break of a five-week-long support line, near 1.3615, becomes...
GBPUSD portrays sluggish market conditions as the bears jostle with the 200-SMA following Friday’s heavy fall, amid the escalating Brexit woes. Even so, the quote’s downside break of the 100-SMA, near 1.3720, keeps the bears hopeful of the further weakness of the cable pair. That said, lows marked during late September and early October, respectively around 1.3600...
GBPUSD buyers await for Brexit headlines as the Cable gyrates inside a bullish flag chart pattern on the four-hour play. The European Union (EU) diplomats aren’t likely to get a warm welcome in London on their arrival for Brexit talks. The reason could be linked to the comments from UK’s Brexit policymaker David Frost, conveying his discomfort with the bloc...
Despite recently easing from 1.3575, GBPUSD stays above a one-week-old ascending trend line amid bullish MACD. On the fundamental side, the passage of the Brexit deal and US coronavirus (COVID-19) stimulus also favor the Cable buyers. Though, a downward sloping trend line from December 17, currently around 1.3620, becomes necessary for the GBPUSD bulls to keep the...
Pound against Dollar pair, has almost trended sideways during last week, it looks like go upside at the starting of the week to 1.30 area, there it may counter a resistance to move down to 1.27600 price area
Euro against Dollar pair, is looking bearish in the 3rd week of October, When you see the monthly chart, bearish Engulfing September month candle still expect to send the price down , in short term view, we can expect the price go down till 1.16 area this week Note - Price action analysis for education purpose only
Suggestion: BUY EURJPY AT CMP 123.25 SL BELOW 122.30 TGT 124/125 ELSE SELL BELOW 122.20 TGT 121/120.90 SL ABV 123.30
Suggestion: BUY GBPJPY AT CMP 135.65 SL BELOW 134.90 TGT 136.80 ELSE SELL BELOW 135 TGT 134 SL ABV 135.65
Yesterday, GBP decreased against the USD by 0.7 percent. Thursday witnessed another cascade of Brexit headlines develop, consequently bullying GBP/USD to lower levels on Thursday and erasing Wednesday’s gains. The 1.31/1.3064 resistance zone on the H4 timeframe once again served sellers well, composed of the 1.31 handle, resistance from 1.3064 and August’s...
GBPUSD pairs has trended downward last week because of Strong USD towards end of the week, Inspite of strong USD, it shows some buying opportunity end of the last day, analysis looks like it may continue the bears favour atleast mid of the week.. expecting it may touch the support area of 1.31 area..
Hi Friends, GBPUSD trading near to the imparttent support level on short term. As per wave count GBPUSD on more leg upside is possible WAVE 5 of c. FOR this count 1.2110 level act as invalidation level. ENTRY & EXIT SIGNAL: LONG @ 1.2180 -- SL 1.2110 -- TP -- 1.2330