Gbpusdlong
GBPUSD 4hr time frame bullish.GBPUSD 4hr time frame bullish. these two line's extension are at same level 1.26583. trend will be more likely zigzag than impulse.
similar pattern formed on EURUSD also.
GBP/USD is good to buy above Friday's high GBP/USD is under pressure as of writing, trading below the 50-day MA of 1.3105.
The drop seen today marks a weak follow through to the falling wedge breakout confirmed on April 30 and the pair’s solid bounce from the 100-day MA seen on Friday.
The pullback from Friday’s highs, however, could be short-lived as the ascending 5- day MA is capping downside in the pair. The 10-day MA is also beginning to trend north, indicating a bullish setup.
As a result, GBP/USD could rise above 1.3176 (Friday’s high) That would strengthen the bullish case and open the doors to 1.3380.
Trade strategy: Buy above 1.3176 for 1.3380 with appropriate stops.
GBPUSD Trend reverse to Bullish from 1.3117GBPUSD BUY@CMP 1.3117
Stop Loss - 1.2957
Take Profit - 1.3576
Bullish - GBPUSDgbpusd
Once the market opens tomorrow, if I see a bullish close once again.
I will be going long on this pair.
GBPUSD TECHNICAL OUTLOOKAfter Brexit Decision GBP crashed vertically managed to halt @ 1.19048 and lost momentum, It was in the range of 1.27600 to 120850 in last 7 months horizon. Fundamental condition still remains choppy !! Volumes improved in recent past days, Open interest raised by 3.6 %.
Expect price to trade in the range of 1.2800 to 1.31750 in coming days, Shorter term traders can Buy above horizontal level and maintain stoploss below 1.2600.
Traders position
The number of traders net-long is 9.7% higher than yesterday and 15.2% higher from last week, while the number of traders net-short is 1.2% higher than yesterday and 3.4% lower from last week.
