Pound against Dollar , is looking to touch the Support line which was a major Resistance line for long time at 1.30650 , price action suggest the down movement in this week,
Only for Education purpose..
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.
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
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 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 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 1.3210 where the hourly right side is down a turn back lower to correct the cycle from the 9/3/19 lows further develop. While...
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 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...
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 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...
Buy (limit) above S1=1.2035.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=1.196.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.196.
In this situation, there is an expectation to reach the...
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...
GU has been in a daily correction since August,2018.
Based on EW count it has been making a flat correction and now C leg of that flat is about to be completed.
Based on price action I'm still anticipating one more move UP to break previous high and then make its way down.