Most commonly referred to as the “pound” the pound sterling is the official currency United Kingdom, Wales, Scotland and Northern Ireland. Along with the United States Dollar, the Euro and the Japanese Yen it makes up the basket of currencies and is the third most held reserve currency in global reserves. The central bank for the pound sterling is the Bank of England and it is the fourth most trades currency on the foreign exchange market.
A small intraday trading idea on the EURGBP 15 mins chart. Can be held post the target for more upside considering the targets on the lower timeframes. This is a small intra-day trade for me.
The trade is given based on the idea of catching trade entry along with trend during pull back with clear reversal signal (price rejctions at strong Resistance).
Let us see the result.
Midterm forecast:
While the price is below the resistance 1.9965, beginning of downtrend is expected.
We make sure when the support at 1.9350 breaks.
If the resistance at 1.9965 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Price may also reach 1.9350, if price reaches this level, we may enter by Daily-Trading-Opportunities, this ...
GBP USD having spot at 1.3169, near about 50% Fibo Level , next resistance is 1.3200 and support is 1.3140 for today, if market break these level from both sides direction would be confirm of the market,
From the chart, the price is now at the crossroads, it's also a prefect example for technical analysis .
It has already formed a bearlish bat from 2016.07-2016.05, and successfully reached the target price; Now, the D-point is converted to X point and form a bearlish bat again with the potential reversal zone made by 2.24BC and 0.886 XA.
There is also a ...
![GBPNZD: [New Chart]: There is a new opportunity to sell in GBPNZD...](https://s3.tradingview.com/j/JGnAVSY1_mid.png "[New Chart]: There is a new opportunity to sell in GBPNZD...")
![GBPNZD: [the crossroads] Bearlish bat in GBP/NZD or triangle breakout](https://s3.tradingview.com/g/GI36wqsK_mid.png "[the crossroads] Bearlish bat in GBP/NZD or triangle breakout")