GBPUSD, Analysis for Oct 19-23Pound 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
GBPUSD
Sterling dip on Brexit headlines, another chance to buy on dipsYesterday, 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 opening value at 1.3078. The key figure 1.30 surrendered ground, as did October’s opening value at 1.2925, to challenge 1.29 (located above Quasimodo support at 1.2865). Beyond here, 1.28 offers a reasonable target. Aiding the H4 resistance zone is a daily resistance level coming in at 1.3017, with downside on the daily timeframe pointing to trend line support, extended from the low 1.2075. Meanwhile, on the weekly timeframe, last week observed GBP/USD extend recent recovery gains from support at 1.2739 (a 2019 yearly opening value). Technicians will acknowledge 1.2739 blends with trend line resistance-turned support, extended from the high 1.5930. In terms of resistance, price has room to advance as far north as the 2020 yearly opening value at 1.3250.
Suggestion: BUY GBPUSD AT CMP 1.2890 SL BELOW 1.2800 TGT 1.2990/1.30
ELSE
SELL BELOW 1.2800 SL ABV 1.2890 TGT 1.1.2720
💡Don't miss the great sell opportunity in GBPUSDTrading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (1.3003).
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 downtrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 41.
Take Profits:
TP1= @ 1.2911
TP2= @ 1.2800
TP3= @ 1.2680
TP4= @ 1.2595
TP5= @ 1.2481
SL: Break Above R2
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Don't miss the great buy opportunity in GBPUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.2805). 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 below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 55.
Take Profits:
TP1= @ 1.2870
TP2= @ 1.2930
TP3= @ 1.3005
TP4= @ 1.3062
TP5= @ 1.3145
SL= Break below S2
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GBPUSD TRADE SETUPThe daily is turning up against the March 2020 lows at 1.1412. The 4 hour is turning down against 1.3485. The 1 hour right side is down against 1.2866 to correct the cycle from the March 2020 lows. While it shows it will remain above there later it can see another swing higher to correct the cycle lower from the 2018 highs at 1.4384.
BUY GBPUSD
@1.2720-1.2700
TP: 1.2790-1.2820
SL: 1.2668
Good luck !
GBPUSD , Weekly analysis , Sep 28-Oct 2Hi traders,
Great britain pound against US Dollar , has seen a down and sideways last week , towards the beginning of the new month,Price action suggest that this pair expected to make little bullish in the starting of the week upto 1.29 area , supported by the concept of weak Dollar at start of the week..after a corrective movement again it may go bearish because of brexit fundamentals
SHORT ON GBPUSDGBPUSD IS MAKING A HEAD & SHOULDER PARTENS WHICH IS A SIGN OF A BERISH MOVE. LET ME KNOW GUYS IS IT A VALID HEAD&SHOULDER OR NOT
GBPUSD: long for corrective wave 2Analysis mentioned on the chart. As long as the support holds , the pair should move up for a corrective move as wave 2 .
GBPUSD , Weekly analysis, Sep 21-25Dear traders,
British pound against US Dollar , have seen low on friday after some upward momentum on thursday, price action supports that it has a strong resistance of 1.30..so it looks to go down around the area of 1.27 this week, fundamentals and dollar index also supports the same.. hope currently this pair is in control of the bears..
GBPUSD, MIDWEEK ANALYSIS, SEP 16-18Pound against dollar pair, has seen the lowest price in the last 6 weeks, and it bounces back from 1.27 area in the last two days, but before the week ends again it may seen the same low price agains. may it forms the double bottom to go up from next week onwards..
Don't miss the great sell opportunity in GBPUSDShort-Term Forecast:
Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (1.3033).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. GBPUSD is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 25.
Take Profits:
TP1= @ 1.2802
TP2= @ 1.2733
TP3= @ 1.2609
TP4= @ 1.2525
TP5= @ 1.2259
SL: Break Above R2
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GBPUSD Long Term Analysis as per The Wave Theory
We have a 5 Wave Downward Impulse structure complete and now starts the Upwward Correction
Here We have a Wave A which is a Upward Correction and this is a Type 2 Zigzag (where Wave A or C is a proper 5 Wave Impulse whilst the other is a ABC);
This downward 5 Wave Impulse is a Wave A then we will have a 3 Wave structure Wave B and then a downward Correction again;
GBPUSD Midweek analysis, 10 & 11As our weekly analysis said ,for GBPUSD its been bearish momentum in first 3 days of the week , its likely to go up till the strong resistance area till 1.314 area..again it may go down because of USD strength
GBPUSD, Weekly analysis , Sep 7-11GBPUSD 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..
GBPUSD : supportive regionIf the price holds the region of 1.3300 , the pair will give an up-move again for a new high.
