GBPUSD
GBPUSDDear traders,
As I have been accustomed to in recent months and this time my technical analysis had an accuracy rate of over 95% and I will try to continue to keep this percentage as long as possible
I said in the last weeks ...as I said last week UG started the descent but has not yet left the critical area! I will wait until the beginning of the week to see if Friday's massive withdrawal was just the NFP effect or will it continue to climb ... but for now I will start looking for SELL for 700-1000 pips as I said!
However ... a close even for 1 day over 42300 will force me to think of BUY another 100-150 pips and then ... DOWN AGAIN
THIS WEEK...GU has started the massive decline and has already made 400 of the 700-1000 pips we anticipate!
even if it will still range in this area or will go up a maximum of 100-120 pips ... my next target is 1.36700 and after ... 1.33800 from where I will reanalyze
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GREAT ATTENTION:
*This information is not a Financial Advice.
GBPUSD and NZDCHF and EURUSD Technical Analysis
Here on GBPUSD we have been in a Bullish channel and inside this channel it has formed a Bullish Flag. As we see on the chart the price has got rejection from two support lines of the Bullish channel and the Flag and also a very strong Support area.
Buy now or Buy at 1.40767
SL @ 1.39890
TP1 @ 1.41820
TP2 @ 1.42430
TP3 @ 1.43389
here on NZDCHF on the bigger picture we see a Bullish Flag and it seems that if we get a break above the short term Resistance within the Flag the price will move higher to touch the upper band of the Flag.
Here on EURUSD we also see a Bullish Flag, The price is near the Support area and the Support line of the Flag. It seems that the price can't get a way from it. If we see a good long entry in the lower time frame we can go long, however if the price ranges at this area the probability of the breaking below the Support increases.
GBPUSD eases inside short-term rectangle near multi-month topWith the renewed chatters over the Fed’s next moves, backed by weekend comments from US Treasury Secretary Janet Yellen, the US dollar regains the safe-haven bids lost on Friday amid early Monday. This weighs down GBPUSD inside a two-week-old rectangle formation between 1.4250 and 1.4190. It should, however, be noted that the upbeat MACD could trigger the cable’s bounce off 200-SMA and a two-month-old support line, respectively around 1.4050 and 1.4010. In a case wherein the quote fails to bounce off 1.4010, the 1.4000 psychological magnet will give another chance for the counter-trend traders entry, losing which should recall the 1.3900 levels to the chart.
On the contrary, recovery moves need to cross 1.4180 and the 1.4200 round figure before challenging the stated rectangle’s upper line around 1.4250. It’s worth mentioning that GBP/USD run-up beyond 1.4250 should stay beyond the 1.4300 threshold before challenging the year 2018 high near 1.4375-80.
💡Don't miss the great sell opportunity in GBPUSD
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (1.4205).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. GBPUSD is in a range bound, and the beginning of a downtrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 34
Take Profits:
Tp1= @1.41350
TP2= @1.40950
TP3= @1.40050
SL: Break Above R2
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