GBPUSD price now in resistacne zone what we can except... 1) RED Price can Make a little correction moves downwards upto 1.31200 and then it can move upwards Wait for Price Confirmation @ 1.31200 and then GO LONG... Take Profit @ 1.32600 2) BLUE Price move to new support level Where it will meet upwards trendline @ 1.29950 - 1.300000 ...
Buy because trend is up and we bullish inverted hammer on major support
Hello Traders, Here is the Top-Down Analysis of GBPUSD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 44 - 26 Oct M > Price is respecting downward trend-line as resistance. It reached monthly resistance coinciding with the trend-line, got rejected and moved to the downside. We saw a W pattern, its neck also coincided with 0.618 Fib level on...
The 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...
Pound 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..
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...
The weekly right side is down against 1.4393. The daily has a bearish sequence however is turning up against the March 2020 lows at 1.1412. The 4 hour is turning up against 1.2244. The 1 hour right side is up against the 1.2646 lows. While above 1.2244 low expect the pair higher toward 1.3200 before it corrects the cycle from the March 2020 lows. Short term...
The 4-hour right side is down with a bearish sequence against the 6/10/20 highs at 1.2823 . The 1 hour is turning up against 1.2249. While a bounce fails below the 6/10/20 highs expect the pair back lower under the March lows. Sell GBPUSD @1.2500-1.2530 TP: 1.2410 SL: 1.2560 Good luck !
The 4-hour right side is down with a bearish sequence against the 6/10/20 highs at 1.2823 . The 1 hour is turning up against 1.2249. While a bounce fails below the 6/10/20 highs expect the pair back lower under the March lows. Short term trade setup Long @ 1.2380-40 TP: 1.2500 Sl: 1.2300 Good luck !
CONTINUATION GU - FROM 1.25500-1.25700 REGION LOOKING TO GO SHORT GU FROM OUR BLUE ZONE WE HAVE CONFLUENCES THAT AT THE 1.25500-1.25700 REGION WE COULD SEE SOME SORT OF SELL OFF IN THIS REGION WE HAVE 61%FIB ALSO A TREND LINE AND TWO PRICE GAPS THAT HAVE TO GET FILLED UP IN THIS AREA ALSO WE HAVE ELLIOT WAVE WHICH LINES UP PERFECTLY WITH THE 4 WAVE I THINK...
The 4-hour right side is down against 12/13/2019 peak (1.3522) & shows a bearish sequence. 1 hour is also down in short term cycles against 1.2689 high. Near-term, while bounces fail below there expect pair to extend lower 1 more push before the last leg higher against 12/13/2019 peak can be seen to complete the 7 swings from March lows & resuming the downside.
The 4-hour right side is down against 12/13/2019 peak (1.3522) & shows a bearish sequence. 1 hour is turning down against 1.2814 high. Near-term, while bounces fail below 1.2814 high expect pair to extend lower 1 more push lower before correction against 12/13/2019 peak resume as a zigzag structure. BUY GBPUSD @ 1.2410-2375 Target: 1.2550 SL: 1.2320 Good luck !
The 4 hour right side is down against 12/13/2019 peak (1.3522). 1 hour is turning down against 1.2645 high. Near-term, while bounces fail below 1.2645 high and more importantly below 1.3522 high expect pair to extend lower. Short GBPUSD @1.2340-65 TP: 1.2250 SL: 1.2400 Good luck !
The 4 hour right side is down against 12/13/2019 peak (1.3522). 1 hour is turning down against 1.2645 high. Near-term, while bounces fail below 1.2645 high and more importantly below 1.3522 high expect pair to extend lower.DO NOT TRADE ON BUYING SIDE
The daily right side is down with a bearish sequence & the 4 hour right side is down with a bearish sequence against the 12/13/2019 highs at 1.3522. While below 1.2648 where the hourly is turning down the pair can see weakness continue. Short term Signal Sell GBPUSD @1.2445-55 TP: 1.2380-50 SL: 1.2500 Good luck !