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Gbpusd_forecast

GbpUsd- to break above resistance?Since the recent low of just under 1.37, GbpUsd traded to the upside putting in a series of higher lows on our chart. The long term trend is clearly up and I believe that a break above recent short term resistance will follow. Considering we are speaking about Gbp, a spike under 1.38 is very probable and this can be a good opportunity for bulls to enter the market. 1.4 is a reasonable target and, on the other hand, a daily close under 1.37 would negate this scenario
Long
by Mihai_Iacob
11
GBP/USD sell set-up brewingOverview - GBP/USD have managed to stage a modest recovery after dropping to 1.3670 level a week ago. However, price has reached a level of resistance at present and price is unable to break the resistance. Analysis - As you can from the chart, GBP/USD has reversed from the 1.3850 resistance level . So, it is possible that this resistance level can stop the bulls and price can drop once again. A strong break through this area will however indicate that bulls will target 1.40 but that seems unlikely as of now. Probable trade set-up - Based on the above analysis, and looking at the fact that rejection candles have formed in the resistance area , short entries between 1.3840-1.3850 are preferred with SL above the resistance area and TP at 1.3720 Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be executed only if it meets the required criteria.
Short
by MarcellusLUX
13
GBPUSD Sell setup in makingGBPUSD entered a sell zone. If the price respects the spot, then we may see an extensive sell. We have to wait to watch the lower time frame and look for a sell setup. 1.38200 to 1.38400 is a good area for a good sell setup. Do not consider this as a piece of financial advice—this Above chart analysis based on experience with the combination of technical and fundamental Knowledge. Please follow proper risk management parameters to trade in the market. Have a nice day. The Financial Regime
Short
by thefinancialregime
Weekly Market Forecast for - GBPUSDDear Traders, I continue to think GBPUSD put in a false break in late February. That could trigger an extended move lower for the pair. However, sellers first have to get through the 1.3800 region, which is a confluence of support. Do that, and we could see the GBPUSD head back to 1.3500. Alternatively, a bounce from the 1.3800 area would likely find resistance near 1.4000. If you like this idea/analysis, kindly press the Follow & Like button and support us.
by EagleForexTrade
H&S pattern paved way to the bear-Lower Trendline support aheadGBPUSD Because of the strong dollar the cable has felled to the one week low while i am typing this analysis. As it faces major rejection around 1.37400 level and the upper side of the trend line was also acting as barrier for the bullish run and we can see a Head and shoulder pattern around 1.37400 level we can expect further downside momentum towards the lower side of the trend line. And in volume profile analysis point of control will act as support for the bull. If the lower side of the trednline was broken then we can expect further downside fall towards 1.35000 . We can open suitable buy limit around 1.35800 and the swing target would be 1.37400 and stop lose ay place below 1.35300
Long
by forexorbit
GBPUSD - BATTLEING THE TRAINGLEGBPUSD has been like a rocket past months. We are now seeing a triangle getting formed. We could have two possible directions from here, since there's a battle with COT positions and retail traders are waiting to confirm if this is a retracement before continuing to the upside or, a sign of a trend reversal. If we see a break of the triangle upwards, we might get GBPUSD reaching 1.43500 before doing any move. Or We could see a breakdown and we could expect a drop until 1.33000, consider a retest, before dropping to the next KEY AREA. We should expect any movements soon, as we are approaching end of the month and COT data is battling with Longs and short.
by PedroBtraderforex
GBPUSD DowntrendHi there, GBPUSD is still in a downtrend on Monthly Timeframe, didn't break last top, and now its setting up for a change of trend on daily and weekly timeframe This is a long term view, the target is mentioned in the chart, lower than 2020 March After we hit that target, GBP will change his trend to a Uptrend on Daily, Weekly and Monthly timeframe Pay attention to the price action arround 1.40/1.41, cause we will make a lower high there, and we start a sharp sell off there. Good luck
Short
by fernandoc17
4