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GBPUSD

GBPUSD teases head-and-shoulder confirmation on H1With the recent risk-off mood favoring the US dollar’s strength, GBPUSD breaks the support line of a short-term head-and-shoulders bearish chart pattern on the hourly (H1) play. However, a sustained close below the neckline, currently around 1.3645 will be needed to confirm the south-run targeting the previous week’s low near 1.3520. However, the 1.3600 round-figure can probe the bears and so do the monthly employment data from the UK for December. On the contrary, upbeat UK jobs report and the pair’s failures to stay below 1.3645 will have to cross 200-bar SMA, at 1.3652 now, to attack the weekly resistance line near 1.3665. It’s worth mentioning that the pair’s sustained trading above 1.3665 enables it to challenge the monthly top surrounding 1.3745 wherein the 1.3700 acts as an intermediate halt. Overall, the risk aversion wave takes clues from the delay in the US fiscal stimulus and Sino-American tension. As a result, further weakening of the quote can be expected despite recently positive catalysts from the UK.
Short
by MTradingGlobal
GBP/USD LOOKING AT BUYS ON GU FROM 1.35900-1.36000Looking at buying gu from a better price from the area 1.35900-1.36000 current trend - bullish - we can see gu has been making higher highs but now we are stuck in some sort of wedge we have stopped making higher highs but also we have kinda stalled at the 1.37 level looks like this is a very good level of resistance as it has held up more than once.It has been held up around 3 times over the course of the month this looks to me like it won't hold much longer and will break above this level and fill the imbalance at 1.377 and then all the way up to the 1.42 region this lines up with the 5th wave on my Elliot wave looking at 4hr structure everything suggest to me that GBP/USD will continue its uptrend and break out at some point for this reason I will only be looking for buys its very bullish no point trying to sell But for now we can look for buys up to the upper G1 or even back to the 1.37 zone from a better price. conflunces for gu buys 1. Higher highs on long term and short term time frame 2. S1Vintraday 20/01/21 3. LOWER G1 4. Also lines up with intraday fib 50% 5. Bullish trend line 6. 1hr candle imbalance 7. usd bearish long term confluences for target 1. upper G1 2. INTRADAY R2 3. -0.50% BUY LIMIT - 1.35900 STOP LOSS - 1.35750 TAKE PROFIT -1.36900 RISK TO REWARD 1:7 overall verdict ; Looking at price right now we can go straight to my target but lets wait and see how price plays out hopefully come to my buy zone looks like we could see a very nice move from this region . BULLISH= Looking for a little pullback before entering a buy Look out for bullish reversal candle in my buy zone then you can enter or just set a limit order if you see strong bearish price action around this area do not enter (DO NOT ENTER THIS TRADE IF WE BREAK BELOW OUR STOP LOSS THIS TRADE WILL BE INVALID IF WE BREAK BELOW 1.35750)
Long
by Carlos44
GBPUSD is still in the Uptrend.GBPUSD is still in the Uptrend. With the rebound of the US dollar index and the recent decline of non-US currencies, the British pound remains strong relative to other currencies, maintaining an upward trend. Currently, it faces the 1.37 integer mark and waits for a breakthrough. In Jan.19 idea on the EURUSD: US Dollar Index is estimated to have a chance to fall again after the inauguration of the new President Biden on January 20. At this time, the EURUSD will be rise. Therefore, the same reason: It is estimated that after January 20, when the Dollar Index turns down, the upward trend of the Pound will be more effective. There is a chance to break above the 1.37 integer resistance. The current upper target is 1.3800-1.3860. Jan.19. 2021 Reliability: 3-10 Markets Days
Long
by FxIntelligenceIN
💡 Don't miss the great buy opportunity in GBPUSDTrading suggestion: . There is a possibility of temporary retracement to suggested support line (1.36). 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 uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 75. Take Profits: TP1= @ 1.3675 TP2= @ 1.3705 TP3= @ 1.3750 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
10
LOOKING AT SELLING GBP/USD FROM 1.35675-1.35700Trend BULLISH : we have been in a long term uptrend since the Start of last march we have been making higher Highs on the higher timeframes so we are currently very bullish this is us going against the trend but we can see that we have a gap below that hasn't been filled and also we can see on the lower timeframes that gu has now started its pullback on the higher timeframes like we have been in a strong up trend for some time we are due a pull back On the lower timeframes we can see a change of trend with ma's crossover also we are being supported by a bearish trend line on 30 minutes chart we can also say we are now starting to make lower lows on the smaller timeframes so we can look for shorts from the best price possible Looking at selling gu from the area of 1.35700 we have an imbalance in this region this also lines up with the 61% fib which could mean we could see some reaction from this area we have a trend line just above that could act as some resistance SELL LIMIT 1 ENTRY - 1.35700 STOP LOSS - 1.35850(15 PIPS) TAKE PROFIT - 1.34500 (120 PIPS) R:R ; 1:10 REASONS FOR SELLING GU 1. lower/lows (15/30) 2. imbalance at 1.34500 3. descending trend line (bearish) 15/30 4. daily close looking to be bearish (4th day in a row) 5.dxy now looking bullish for the time being 6. p= sells also IF PRICE BREAKS ABOVE 1.35850 THIS TRADE WILL BE INVALID We have two targets one of 1.34500 and also 1.33700
Short
by Carlos44
GBPUSD consolidates gains within 10-week-old uptrendGBPUSD keeps bounces off 200-SMA while picking up the bids near 1.3540 during early Tuesday. The cable dropped to a two-week low before recovering from the key SMA. Not only the quote’s ability to take a U-turn from important technical support but an upward trajectory portrayed by an ascending trend line since November 02 also favor GBPUSD buyers. Hence, a one-week-old falling resistance line, at 1.3605 now, offered an immediate upside hurdle to the sterling buyers ahead of directing them to the multi-month high, flashed earlier in January, around 1.3700. It becomes needless to mention that the March 2018 low near 1.3715 adds to the upside filters. On the flip side, a clear break below the 200-SMA level of 1.3450 will direct GBPUSD sellers towards the stated medium-term support stretched from early-November, currently around 1.3320. In a case where the UK’s covid woes propel the global rush for risk-safety and favor the US dollar rally, taking the quote below the 1.3300 threshold, the pair might not hesitate to question December lows surrounding 1.3130.
Long
by MTradingGlobal