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GBPUSD

GBPUSD bears look for entries with eyes on UK employment dataHaving reversed from the late October tops, GBPUSD pokes the key support lines around the mid-1.3600s. Given the receding bullish bias of the MACD and RSI retreat, the prices are likely to decline further. However, the UK employment data will be crucial to watch for clear direction. Should the cable pair stays below the stated 1.3650 support, odds of its gradual declines toward the 100-SMA level of 1.3540 and then to the 200-SMA level surrounding 1.3400 can’t be ruled. However, a horizontal line surrounding 61.8% Fibonacci retracement of December-January upside, near 1.3370, will be a tough nut to crack for the pair sellers afterward. Meanwhile, the 1.3700 and the recent tops around 1.3750 act as nearby resistances to watch during the pair’s fresh advances. Should the quote rises past 1.3750, tops marked during October and September 2021, respectively around 1.3835 and 1.3915, will challenge the GBPUSD buyers ahead of directing them to the July 2021 peak of 1.3982. During the quote’s advances past 1.3982, the 1.4000 threshold will be crucial to watch for further upside. To sum up, GBPUSD sellers await a clear signal for fresh entries from technical, as well as fundamentals.
Short
by MTradingGlobal
Classic Double Top!Let's Start by admitting the fact that price action works like crisp in FOREX. A beautiful breakout at $1.36459 made GBPUSD hit $1.37437 - $1.37493 Levels. Which happened to be a small time resistance level. (During October 2021) Price then reacted to the resistance and set up its camp down at $1.37007 Levels. Selling pressure was still intact when it tried crossing $1.37437 - $1.37493 Levels again - 1st Indication for a possible Double top. I.e, $1.37007 Levels Could possibly be the Neck Line. Hah! That's what happened! Price Almost respected our resistance level, and started its jouney downwards. - 2nd Indication for a Double Top. EMA 9 Going below EMA 21 + RSI breaking its 47 levels Made themselves in the play for going short. Candle at 7:30 with its good selling pressure and closing below the neckline confirmed the death of $1.37007 levels - THE FINAL INDICATION. And the trade went on it's journey downwards as predicted.
by pranay0508mishra
6
GBPUSD | The best price targets to climb📍Hello traders , GBPUSD in daily timeframe ,This analysis is prepared in daily timeframe but has been published for better view in 2 days timeframe. In our count, we conclude that we are in a leading cycle, and that this cycle is probably related to a larger zigzag . In this count, waves 1, 2 and 3 are finished and wave 4 is formed. Wave 4 is in the form of a zigzag , and from this zigzag , waves a and b are completed, and now we doubt whether wave c is complete or not. We will have two scenarios: Scenario 1 Completion of Wave C: If Wave C is completed, it will break the range between 1.35000 and 1.34000 upwards, confirming the start of Wave 5. Second scenario incomplete of wave c: we assume that the count we had for wave b of this zigzag is not correct and wave b is two waves behind the current situation and these two waves are related to waves 1 and 2 of wave c. So we conclude that waves 1, 2 and 3 are composed of wave c and now wave 4 will be formed in the sideways state. 🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏 ❤️Please, support this idea with a like and comment!❤️
Short
by mahdisoltaninjad
#GBPUSD it's possible to sell#GBPUSD Price trading the 4hr resistance area and waiting for bearish candlestick formation in resistance area and the next candle close below the previous candle its will move to the next level support Why we like it: Price trading the 4hr resistance moving to the next level support waiting for bearish candlestick formation 1st support: 1.33898 Next Zone area & horizontal swing Low support 1st Resistance 1.36154 Zone area & horizontal swing high resistance
Short
by Skandhatrade
GBPUSD must stay above 1.3555 to keep bulls on the tableGBPUSD keeps the 50-DMA breakout to battle the 100-DMA as traders await final readings of UK Services PMI for December, as well as the US ISM Services PMI for the said month. Although the key DMA breakout and bullish MACD hints at the cable pair’s further upside, a clear run-up beyond the 100-DMA level surrounding 1.3555 becomes necessary for the bulls to rise further towards the five-month-old resistance line and the 200-DMA, respectively around 1.3690 and 1.3740. Also challenging the pair buyers are the 50% and 61.8% Fibonacci retracement levels of July-December downside, close to 1.3570 and 1.3670 in that order. It’s worth noting that a failure to stay past 1.3555 could drag the quote back to November’s high near 1.3515 ahead of highlighting the 50-DMA level of 1.3400 for the GBPUSD sellers. Should the pair extend the south-run below 1.3400, the 23.6% Fibonacci retracement near 1.3350 may offer an intermediate halt during the fall targeting the year 2021 bottom of 1.3160. To sum up, GBPUSD bulls are at a test and the sellers may take the risk in case of pullback.
by MTradingGlobal
GBPUSD bulls are at test on the final day of 2021GBPUSD bulls cheer clear upside break of 50-DMA to poke six-week top, amid bullish MACD signals. However, a short-term horizontal hurdle close to 1.3515 joins nearly overbought RSI conditions to probe further upside. Even if the quote manages to stay past 1.3515, the 100-DMA and a descending trend line from June, respectively around 1.3570 and 1.3640, will challenge the cable buyers. It should, however, be noted that a successful rise above 1.3640 enables the pair to challenge October’s high of 1.3833. On the contrary, a failure to cross the 1.3515 immediate hurdle could trigger the much-needed pullback towards the 50-DMA level of 1.3420. Following that, the monthly horizontal line, previous resistance near 1.3370, will be crucial to watch. Given the GBPUSD pair’s drop below 1.3370, bears might not hesitate to challenge the yearly low of 1.3160. Overall, GBPUSD buyers hold the controls but multiple resistances question further advances as the market approaches 2022.
by MTradingGlobal
GBPUSD battles 50-DMA but bearish trend persistsGBPUSD bulls fail to cheer a clear upside break of the monthly horizontal resistance, now support, as the 50-DMA challenges immediate upside. Given the easing bearish bias of MACD and firmer RSI, the prices are likely to extend the corrective pullback beyond the 50-DMA level surrounding 1.3450. However, a broad bearish trend established since June remains intact until the quote crosses a six-month-old resistance line near 1.3645. Before that, 100-DMA close to 1.3570 will act as an additional upside filter. On the flip side, the aforementioned monthly horizontal line, around 1.3370, restricts pullback moves. Should the cable pair drops below 1.3370, the 1.3270 level and the 1.3200 threshold will act as extra supports to watch before the quote challenges the yearly low of 1.3160. In a case where GBPUSD prices drop below 1.3160, the odds of witnessing an extended fall towards the 1.3000 psychological magnet can’t be ruled out.
Short
by MTradingGlobal
8
GBPUSD |The best scenario for climbing 📝Hello traders , GBPUSD in daily timeframe ,This analysis is prepared in daily timeframe but has been published for better view in 2 days timeframe. In the count that was done, we came to the conclusion that we are in a cycle of progress, and this cycle is probably related to a larger zigzag . In this count, waves 1, 2 and 3 are finished and wave 4 is formed. Wave 4 is in the form of a zigzag , and from this zigzag , waves a and b are completed, and now we doubt whether wave c is complete or not. We will have two scenarios: Wave C Completion: If Wave C is completed, break the range between 1.35000 and 1.34000 upwards and confirm that Wave 5 is starting. Second scenario incomplete of wave c: we assume that the count we had for wave b of this zigzag is not correct and wave b is two waves behind the current situation and these two waves are related to waves 1 and 2 of c. So we conclude that waves 1, 2 and 3 are composed of wave c and now wave 4 will be a sideways. 🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏 ❤️Please, support this idea with a like and comment!❤️
Short
by mahdisoltaninjad
GBPUSD remains vulnerable to refresh 2021 lowDespite defending 1.3170 multiple times since December 09, the GBPUSD pair’s failure to cross a five-week-old ascending trend line, not to forget 200-SMA, keeps sellers hopeful. Adding to the bearish bias are the downbeat MACD conditions. That said, the yearly low of 1.3160 adds to the downside filters, in addition to the 1.3170 multiple bounce point. Should the bears keep reins past 1.3160, the 61.8% Fibonacci Expansion of November 09 to December 16 moves, around 1.3100 will be in focus. Alternatively, the 200-SMA level surrounding 1.3350 precedes the aforementioned trend line resistance of 1.3380 to challenge short-term GBPUSD rebound. If the pair buyers manage to cross the 1.3380 hurdle, November 18 high and 78.6% Fibonacci retracement level, close to 1.3510, will be on their radar. To sum up, the pair buyers have tried multiple times to retake controls but bears are in a mood to refresh the yearly bottom during the last days of 2021.
Short
by MTradingGlobal
GBPUSD fakes falling wedge ahead of UK employment dataGBPUSD’s corrective pullback from the yearly low confirmed a five-week-old falling wedge bullish chart pattern before dropping back to the stated bullish pattern’s resistance line as the pair traders await the UK employment report for November. Should the jobs report trigger the pair’s bounce, the late October peaks past 1.3800 are likely theoretical targets. However, 100 and 200 SMAs, respectively around 1.3310 and 1.3430, will test short-term bulls. Following that, late November’s swing high and the last monthly top, near 1.3515 and 1.3700 in that order, can probe the run-up. Meanwhile, a downside break of the stated wedge’s upper line, close to 1.3200, will defy the bullish breakout and direct GBPUSD bears towards the 2021 bottom close to 1.3160. In a case where the cable sellers refrain from stepping back, the December 2020 low of 1.3134 and the 1.3100 will be in focus. To sum up, the pair’s declines from late October seem to have been overdone and the latest falling wedge breakout is a call to buyers during the key week comprising Fed and BOE rate decisions.
by MTradingGlobal