Gbpusd_forecast
GBPUSD Long FlipAfter previously posting a short trade and stating a break of 1.376 on the 4 hour would result in a change of bias we have now moved to long a long position. Adaptability in this industry is key. Our short losses have already been covered and everything onwards is profit.
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GBPUSD, Fundamentally Driven Pair..!As salam alaikum
Critical Zone
1.375 seems to be M,W,D rejection point.
Still trapped in Rising Wedge on W,M TF.
We can see another Bearish Channel on D TF.
1.375 seems to be rejection zone as consolidation
can still be seen but the way F.A are playing,
We can expect strong bullish movement.
F.A Review:
Despite Dollar strength , GU is pretty much bullish as BOE has declared
Negative Interest Rate plus the
vaccination rate has also been increased.
Misleading and mixed 3-wave patterns In the 240-minute chart, the structure of all waves is in triple format, which indicates the end of the existed trend. Previously, there was the possibility, that the Diagonal pattern completing in the range of 1.3736, but with price retracement and the created uptrend, it is possible, this pattern at wave C from point iii forming a Diagonal pattern. According to this scenario, the uptrend can be extended up to the range of 1.3795, and in case, it just goes below the range of 1.3562, we can be hopeful for a downtrend formation.
GBPUSD, Breaking OUT...?As salam alaikum
Critical Zone
1.375 seems to be M,W,D rejection point.
Still trapped in Rising Wedge but on verge
of breaking out.
but another Falling Wedge can also be seen
on lower TF.
Monthly candle has closed and it's strong
"Hanging Man CandleStick".
Indicating a reversal.
GU will be Bullish once 1.36-7 zone breaks
above and holds for another week atleast.
Else we can see another strong dip aiming
Dollar Strength.
GBPUSD-- Buy for Short time ... Disclaimer:
the content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions. this is no signal. it's my opinion. trade your own risk. and Must Follow Money management.
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