We continue to foresee broad GBPUSD range-trading, with some upside risk if price through the descending wedge pattern.
Ahead of the BOE event, we likely to trade between 1.3145-1.3050 with a neutral RSI study. The next physiological support finds at 1.3000; breaking below there, exposes the downside risk to mid-July low 1.2950. It’s worth considering the...
hi guys wait for the engulfing or pin bar bullish candle near support zone...long but wait for bullish candle..its over strong support..RSI IS ALSO OVER SOLD ..WANT SOME RETRACEMENT HERE....
buy green arrow if market make bullish candle near green arrow... pin bar or bullish engulfing candle is best to go long...if market breaks this support then we go short from retest area...again i post new chart..thanks
The 1-hour chart of GBP/USD is currently in the process of forming an Elliot wave.
It has formed the 4th wave and is resuming the rally of the 5th wave.
The ichimoku indicator also indicates the resumption of buy trend.
Hence we expect the pair to be bullish for short term.
wait for the breakout...or may be market retrace from red trend line ..bcz its over strong resistance level...so wait and watch...as we see in daily chart market is in channel...
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast the beginning of uptrend.
Technical analysis:
There is a divergence in RSI and price between the trough at 1.3205 on 2018-05-29 and the trough at 1.2955 on 2018-07-19, the probability of downtrend continuation is decreased and the probability of beginning of...
