Gbpusdidea
CONTINUATION ON GU LOOKING AT BUYS FROM 1.39600 OR THE 1.39100 Looking at buying gu from a much better price like last week we predicted that price would come into the region of 1.38250-1.38300 and we was spot on once again this week I am looking for a similar setup this week I will be looking at two buy orders from 2 zones we have only been bullish so much we can only keep going up my target is 1.44 which is previous monthly highs back in 2018. There is no previous resistance between now and then so my view will be bullish until then
BUY LIMIT 1 - 1.39600 region
- 38.2%
- S1
- A better price but not the best - intraday (Monday only)
- previous structure (15min)
BUY LIMIT 2 - 1.39100-1.39150
- 61.8%
- S2
- The best price you can buy from (intraday)
- Lower G2
- MA's looking bullish
- Trend line
My target for this trade is around 1.40800 lets see how this one plays out this is around +100pips plus so wait for rejection then enter these trades.
No previous structure has been broken so I'm still longterm bullish
CONTINUATION ON GU BUY CHEAPEST PRICE
LONGS FROM LOWEST PRICE POSSIBLE 1.38000-1.38250
quick overview
Looking at gu we can see that we have been in a very strong uptrend as we have broken above the 1.37400 level we was ranging around that region swell for a couple days until recently we have seen a break above that previous level and now we are starting to go towards the 1.40 level which is a strong banking level we have quite a lot of imbalance in this region above so I our target will be in the 1.40
we have two entries for gu we are only looking for buys as the trend has not changed also we haven't had a deeper pullback so we are due to have one at some point I have two target areas of interest 1.38 banking level and the 1.38250 region we have some confluences in this region so we will be looking to see how it goes
ENTRY 1 : 1.38250 - BUY LIMIT
STOP LOSS : 1.38130 (-12 PIPS )
TAKE PROFIT : 1.40000 (+175 PIPS)
RISK TO REWARD : 1;13
S2(INTRADAY)(APM MAX)
EXHAUSTION TRADE
71%
GBPUSD Top-Down AnalysisHello 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 last bullish impulse, however price retraced to the upside failing to test the neck.
W > We saw an M formation and expected price to move up to test its neck and complete the pattern. Price moved up till 0.5 Fib level on last bearish impulse. We now expect price to continue with downward move to test neck of W formation, it can continue to drop further till -0.272 Fib level which also coincides with weekly demand zone.
D > Price moved up to complete M formation creating HH abd HL in a rising channel. After testing neck price dropped but could not break its last HL and moved up facing rejection at daily demand zone. Price is now testing supply zone created by neck of M formation.
As per COT GBP saw addition of Long and closure of Short positions further improving net positions though still in -ve. BXY however weakened during the said week and ended last week in a Doji after strong buying pressure during start of the week.
We must note that in month of June and July BXY made all bullish move while having negative net positions, this ride was because of weak DXY and not due to strength of BXY . Hence we expect a realtime correction to the downside soon.
4H > We will monitor price action at current supply zone for breakout. For bearish breakout we already have two targets, for a bullish breakout we expect price to rise up till next daily supply zone and face rejection to the downside.
Pair Correlation > GBPUSD has positive correlation with GBPJPY, GBPCHF and GBPCAD and negative correlation with EURGBP.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
Thank You
AP17FX
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 SHORT TRADE SETUPThe 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 Trade
Short GBPUSD
@1.2890-1.2900
Tp: 1.2810
SL: 1.2925
Good luck !
GBPUSD LONG TRADE SETUPThe 4-hour is turning down against the 6/10/20 highs at 1.2815 . The 1 hour is turning up against 1.2440. While a bounce fails below the 6/10/20 highs expect the pair back lower under the March lows.
Short term trade setup
LONG GBPUSD
@1.2460-40
TP: 1.2600
SL: 1.2510
Good luck !
GBPUSD SHORT TRADE SETUPThe 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 !
GBPUSD Weekly Forecast ( 22June-26th June)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.
GBPUSD LONG TRADE SETUPThe 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 !
GBPUSD ASIA TRADE SETUPThe 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 !
GBPUSD SHORT TRADE SETUPThe 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 !
GBPUSD TRADE SETUPThe pair ended a cycle up in wave ((1)) from the 9/3/2019 lows at 1.3519 on 12/13/19. From there a cycle in wave (A) ended at 1.2904 & wave (B) ended on 12/31/19 at 1.3284 to correct the cycle lower from the 12/13/19 highs . While below 1.3066 where the hourly right side is down a turn back lower to correct the cycle from the 9/3/19 lows can further develop. While it shows it will remain above the 9/3/2019 lows where the 4 hour right side is up it can see another swing higher in the correction of the cycle lower from the 4/17/18 highs.
GBPUSD SHORT TRADE SETUPThe pair ended a cycle up in wave ((1)) from the 9/3/2019 lows at 1.3519 on 12/13/19. From there a cycle in wave (A) ended at 1.2904 & wave (B) is in progress as a triangle while above the 1.2954 lows where the hourly is turning up. While a bounce fails below 12/13/19 highs it can see a pullback lower to correct the cycle from the 9/3/19 lows. While it shows it will remain above the 9/3/2019 lows where the 4 hour right side is up it can see another swing higher in the correction of the cycle lower from the 7/15/14 highs.
GBP/USD buy pair holds above the 1.2425The British pound is holding onto the latest positive factors towards the buck as merchants await the Financial institution of England financial coverage resolution later right this moment. Additional bullish development above the 1.2530 degrees ought to provoke a take a look at the 1.2600 degrees. A lack of the 1.2425 help area is prone to see the GBPUSD struggling a deeper pullback in the direction of the 1.2385 degrees.
The GBPUSD pair is barely bearish whereas buying and selling under the 1.2425 degree, key help stays on the 1.2385 and 1.2350 ranges.
If the GBPUSD pair holds above the 1.2425 degrees, key resistance is discovered on the 1.2530 and 1.2600 ranges.