The British pound has fallen to a new monthly trading low against the US dollar as the bearish head and shoulders pattern break is increasing technical selling on the pair. The 1.2880 level is critical support below the 1.2900 level, with the 1.2840 level acting as extended intraday support. GBPUSD bulls need to move price above the 1.2960 level to negate...
The British pound is under heavy downside pressure against the US dollar, with the pair now trading at its weakest level in over eight weeks. The GBPUSD pair is heavily bearish while trading below the 1.2960 level and is likely to fall towards the 1.2880 level. The four-hour time frame is showing a large head and shoulders pattern, with the GBPUSD pair now trading...
Despite several attempts to break down the support of 1.29783, the support remains tall.
The counter has bounced off from the lows and formed a double bottom pattern in the hourly chart.
It also took down a critical resistance of 1.30085 in the due process.
Now, its currently testing the broken resistance.
We expect the broken resistance to lend support and push...
a short intraday gain can be made in GBpUsD. With an SL of 1.2978 for the targets of 1.3035
If the GBPUSD breaks the level of 1.2950 then expect furthermore selling towards 1.2800 though it's at the zone of panic n minor support. If it's rebounded then the above levels will lead to 1.3100
Market is in uptrend in daily candle..So this is a position With AB=CD Pattern Along with butterfly pattern and it also hit previous structure and RSI is also oversold.....
The counter is in a long-term bear cycle, owing to Brexit.
It completed the wave 3 and consolidated in the form of a wedge, which is wave 4.
Now, we believe wave 5 has commenced since the wedge is broken and hence the pair can trade with profound bearish bias.
We saw perfect long trade on GBPUSD >
at this moment rally is at its resistance we see great opportunity to sell gbpusd.
it can be early to jump on trade but keep watch and trade
traderand.co
Doing Forex trades if the currency pair doesn't have INR is illegal as per FMCA act and it is also a non-bailable offence!
On 13th March, On grounds of Brexit, GBPUSD buying was a trade with a high probability of success. Then how to buy GBPUSD in Indian Market?
It is easy.
Buy GBPINR futures.
Short USDINR futures.
It literally translates into - GBPUSD buy....
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.
