Nice re-test of the support level post the ADP jobs data which was good for the dollar. But this is a solid support and technically a good entry point. Stop below the range lows and use the Ichimoku to ride the trend for a bit.
Traders,
I was Analyzing the GBP/USD and found this beautiful Price action where the wave gave the breakout and successfully retested it last Resistance .
After Fed Data , Euro, GBP, Gold all going in to reversal side and not just correction..... so GBPUSD is a good sell for lower targets before Friday EOD
What are our targets for the GBP/JPY? This might all depend on Central bank intervention.
Last week the BoJ briefly intervened and now there is speculation that the BoE will follow through with similar measures to help prop up the pound, which has cratered in the past two days in response to the dismal economic outlook of the UK and new tax cuts from the government.
Hi traders,
Wish you more success,
GBPUSD has traded almost in the sideways from July 7th, looking like this price movements bounded by triangle pattern, last friday price strongly rise from the support in the 4 hr chart, may push the price up,,else will go down towards the major resistance of 1.24 area
but price action supports the price to go bullish...
HI FRIENDS,
GBPUSD price rejected by trend line but wave count still showing one more leg upside possible upto 1.2330 level. For this short term count Invalidation level 1.2110, GBPUSD fell below this level continue down trend.
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.212.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.221.
TP4: R2=1.2245.
Set the stoploss of these orders at breakout of S2=1.21.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2725.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2815.
TP4: R2=1.2845.
Set the stoploss of these orders at breakout of S2=1.2695.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.288.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.28.
TP4: S2=1.275.
Set the stoploss of these orders at breakout of R2=1.292.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
