Dear 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..
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...
My own technical analysis for GBPUSD pair next week. A strong downward trend pattern and positive news from last week NFP
The pair have nice rejection by printing PB signal at expected key level. Expecting some down move.
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...
Waiting for a pullback into the 2 point or close to it for a nice sell off from GBP
Both marked area have potential to push the price down. PA will decide right time to jump into the position. Adhav
hello traders. After we hit our tp on gbpusd (see the comment below for link) here is our fresh analysis on this. The pair did break the support line, did a retest and is heading towards its support. TP=1.6400 SL=1.29000
The 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. ...
The counter is currently in a pullback mode after a steep fall. The correction has ended with the formation of a head and shoulder pattern. The price action has broken the neckline and is currently consolidating just below it. Hence, we expect the pair to be bearish in the near-term.
The 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 favored ended at 1.3287. While a bounce fails below 1.3118 where the hourly is turning down it can see a pullback continue to correct the cycle from the 9/3/19 lows. While it shows it will remain above the 9/3/2019...
we are going to see wave 5 completion in a few days. then we can draw short position from there... all the best.
GBPUSD is a good sell right now as there are a number of patterns that point towards the southward trajectory of the pair. The pair initially went above the broadening channel, but later on reverted back with a head and shoulder pattern (blue shaded area) which make bears on the winning side, with the target of testing the lower trend line of the channel at...
The British pound has surged to its highest buying and selling stage since late-July in opposition to the US greenback as dip-buyers retain management of the pair. The GBPUSD pair has hit its near-term bullish goal, at 1.2310, though the bigger upside goal is nearer to the 1.2500 stage. Bulls might want to maintain worth above the 1.2310 stage to encourage extra...
Hello friends, Brexit matters are hard hitting for sterling. As per Wave analysis we can clearly see still Sterling trading on irregular corrective structure. I am expecting one more wave downside upto 1.1900 handle is possible.