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Gbpusdsignals

GBPUSD | Perspective for the new week | Follow-upIt has been over 400pips move in our direction since my last publication on this pair (see link below for reference purposes) and it appears we at a critical juncture in the market that warrants a trading opportunity after considering the character of price action during the last week trading session. $1.42000 level "rejected" attempts for a Bullish breakout of Supplication on 4 occasions hereby increasing the option to buy the Greenback in the coming week(s). Supported by positive US economic data (rebound in US yields and an impressive Markit Manufacturing PMI Flash for May), the Greenback has the potentials to soar across major pairs as I anticipate a Breakdown/Retest of Key level @ $1.41400 to respect Ascending Channel in the coming week(s). Tendency: Downtrend ( Bearish ) Structure: Supply & Demand | Channel | Reversal pattern (Double Top) | Wedge Observation: i. DOUBLE TOP: The appearance of an extremely bearish technical reversal pattern forming after price attains a peak @ $1.42500 at two consecutive times signals a risk of further decline in the coming week(s). ii. Despite closing above Key level @ $1.414000 during last week trading session, attempts on a rally continuation was repeatedly rejected by the $1.42000 area hereby giving significance to the Major Supplication area which has a 20-year-old memory (since 2001 - see weekly chart). iii. As I look forward to the correction phase that will transition into respecting the Ascending channel, the Key level @ $1.414000 remains a yardstick for selling opportunity for me in the coming week. iv. To buttress my Bearish bias, We can not ignore the appearance of converging trend lines (Rising wedge pattern) indicated on the chart with two trend lines drawn to connect the respective highs and lows of price action over the last 10days (10th - 21st May 2021) which has a tendency to Breakdown/retest for signal confirmation. v. Kindly note that a. Below the Key level remains a confirmation for this set-up to remain valid. b. Further Breakdown of Ascending channel ($1.39ish) will welcome addition to the position after retest/correction... Trade consciously :) Trading plan: SELL confirmation with a minimum potential profit of 250 pips. Risk/Reward : 1:5 Potential Duration: 10 to 20days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
Gbp/Usd : Inevitable stop loss cluster hunt 1.4400 handle ?Gbp/Usd is trading inside the Strong Rectangular range since the Brexit, lacking essential catalysts for an upside breakout/Central bank keep intervening it to support the economy. On daily TF, price is approaching the strong resistance around 1.4200 and likely to make 150-200 pips high to clear the cluster of stop losses / Speculative Sentiment Index is around 30% on an average. Having said that, it is not that easy for the price to break upside range invincibly without any strong economical or geopolitical catalyst. Hence we are expecting a phase 1 retracement towards the 23.6% fib around 1.3560 once the above mentioned stop loss cluster of 1.4400 handle is cleared. Daily Trend : Up Major Trend : Range Signal : Sell Limit @ 1.42xx-1.4400 Stop Loss : 1.45xx Target : 1.3560
by UnknownUnicorn13514545
GBPUSD | Perspective for the new week After looking forward to Bearish expectations during my last publication on this pair, the price moved against us as it broke through the Descending channel with possibilities that "screams" Bullish expectations in the nearest future(see link below for reference purposes). The majority of the speculators are looking to short the Pound despite UK data been mostly positive in recent times, considering the Manufacturing Production (MoM), Unemployment Rate dropping to 4.9% in February and jobless claims edging up by only 10,100 in March – both showing the labour market's strength. In this regard, I am having a different perspective as the current set-up looks more Bullish to me! Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Reversal pattern (Double Bottom) Observation: i. From a long term perspective on the Weekly chart, the Pound has been on a Bullish run since last year - 2020. ii. After hitting a peak @ 1.42400 in Feb 2021, the price has gone through a Corrective phase that appears to find a bottom @ $1.36800 which is confirmed by the appearance of a Double Bottom pattern - a strong reversal set-up. iii. Since hitting $1.36800 mid-April 2021, the price has continued to find a Higher High which later led to a Successful Breakout of Neckline @ $1.39000 before making a Correction during last week trading session. iv. In this regard; I have spotted two windows for Buying opportunity (indicated on the chart as Buy window I & II) should price dip further. v. To be on the safe side for a rally continuation, I shall advise that we look forward to buying above Neckline which is also a Key level ($1.39000) for Bullish expectations. Trading plan: BUY confirmation with a minimum potential profit of 250 pips. Risk/Reward : 1:4 Potential Duration: 4 to 7days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
GBPUSD Long-term buy signalPattern: Channel Up on 1D. Signal: Buy as the price found support within the base zone created by the 1D MA50 (blue trend-line) and the 1D MA100 (green trend-line). Appears to be repeating the September-October 2020 Bottom sequence. RSI similar. Target: 1.4250 short-term (current 1D Resistance) and 1.4700 long-term (just below the 2.0 Fibonacci extension. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> kylevd23 --------------------------------------------------------------------------------------------------------
Long
by TradingShot
4
GBPUSD | Perspective for the new week | Follow-upThe greenback appears to be building on structures supporting a rally in the coming week(s) as the Nonfarm Payrolls report draws near. The price travelled in the opposite direction since my last publication as $1.40000 remains a strong Supplication level ( see link below for reference purposes). A sharp rejection of $1.4000 followed by a significant Breakdown of $1.38300 (key level) during last week trading session send signals of a risk of further decline for the Pound in the coming week(s). Tendency: Downtrend ( Bearish ) Structure: Breakdown | Supply & Demand | Harmonic patter (AB = CD) | Descending Channel Observation: i. Connecting the lower highs and lower lows of price with parallel trendlines emphasizes that price action has been caught within a Descending Channel since February 2021. ii. The Demand zone @ $1.38300 that held price "supported" during the penultimate week was finally broken during last week trading session with momentum favouring the Bears. iii. The present structure after breakdown supports a transition into a Harmonic pattern (AB = CD) with parameters explained below; a. Leg A-to-B shall be expected to be in harmony with the C-to-D leg. b. The B- to-C leg present falls within 61.8% (with the possibility of extending into 78.6%) Fibonacci retracement of the A-to-B leg. c. The C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move @ $1.35500 area. iv. This been said, It possible that price might not break above key level to continue the decline hence it is pertinent that we keep an eye on price action around $1.38300 in the coming week(s):) Trading plan: SELL confirmation with a minimum potential profit of 300 pips. Risk/Reward : 1:3.5 Potential Duration: 4 to 10days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
1
GBPUSD | Perspective for the new weekDespite the GBP showing signs of weakness during last week trading session as it keeps rejecting the $1.4000 level and dipped as low as $1.3880; I continue to root for Bullish expectations for the Pound across her major pairs in the coming week(s). Even as the Greenback was in the driving seat in the markets on Friday - a result of higher US bond yields, I suspect that the current structure at this juncture in the market supports a rally in the nearest future. Tendency: Uptrend ( Bullish ) Structure: Breakdown/Breakdown | Supply & Demand | Reversal pattern (Inverse H & S) Observation: i. Since the successful Breakout of my Key level on the 19th of February 2021; Sellers have hijacked and kept the price under $1.40000 as we have witnessed multiple rejections of this zone in the last 16 days. ii. It is also very obvious that the price has been caught within the Channel $1.37800/1.40000 since late last month (February 2021) hereby throwing participants into a long phase of indecision. iii. The drop from the peak @ $1.42420 (Leg XA) has transposed into an Inverse Head & Shoulder look-a-like - strong reversal pattern within the channel. iv. Considering the Bullish tendency from a longterm perspective (see weekly chart), I am of the opinion that we are presently experiencing a corrective phase of the last Breakout(19th Feb 2021) and a rally might be at the corner! But when? v. Even though my Buy can be coming in anywhere above the Demand zone, a viable confirmation to join the rally might be waiting for the majority at the Breakout/Retest of the Key level @ $1.40000 in the coming week(s)... Stay tuned in! :) Trading plan: BUY confirmation with a minimum potential profit of 300 pips. Risk/Reward : 1:3.5 Potential Duration: 8 to 15 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
4
GBPUSD Buy SignalPattern: Channel Up on 1D. Signal: Buy as the price is on a rebound on the 1D MA50 (blue trend-line). The MACD is about to form a Bullish Cross. Target: 1.4400 (below the 1.5 Fibonacci extension which always gets hit within the Channel). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> xBTala --------------------------------------------------------------------------------------------------------
Long
by TradingShot
1