Weekly outlook for Major Forex Pairs Hi there!
This is my own view on for the upcoming week for most of the major pairs.
DXY looks bearish, so im looking to short USD and bullish on other pairs.
---Disclaimer---
I am not a registered financial adviser and hold no formal qualifications to give financial advice. Everything that is provided in this video is purely for educational purposes only. All information here should be independently verified, researched and confirmed.
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Gu
GBPUSDAs i said in the last week... GU also reached my number 2 target and made 800 of the 800-1000 pips predicted a few months ago
this week I expect a retreat move to target 1 and from there ... DOWN AGAINS to 1.30
However ... a closure even for 1 day over the number 1 target means a new range in this area
THIS WEEK...as I said, GU rejected and reached the number 1 area and now I am waiting for a range between level 1 and level 2!
However, any closure even for 1 day outside of these levels will make me think of a new analysis.
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GREAT ATTENTION:
*This information is not a Financial Advice.
GBPUSD - hedge funds are now more LONGAccording to the latest COT report by CFTC on 2nd November 2021, hedge funds have added LONG positions to GBPUSD.
Descending wedge will likely break upwards to at least the 0.65~0.618 Fibonacci ratios.
The Fisher transform and FSVZO momentum oscillators also indicate a shift in momentum to the upside.
BUY GBPUSDGBPUSD LONG
There are 3 confluences for this
Price is forming that W pattern for a long
we are only advised to enter after we see bullish reversal pattern
please dont forget to apply risk management
Also the fibonacci retracement tool which can also indicate a buy when price get gets to the 100% zone that shows an exhaustion in sells ,
This can also be referred to as double bottom
After all these confluences are confirmed
Traders can enter for a long
TRADE MY SETUP AT YOUR OWN RISK
THANK YOU FROM THE POWER FX TEAM
GBPUSD ANALYSISPrice has bounced off the 1.3450 level and rallied to the upside. looking to see if price can break above the 1.3600 to test previous highs.
Daily timeframe shows a strong bearish signal so we could see more falling to the downside back towards 1.3450. still in a downtrend making lower highs and lows.
News can always change the game especially with both of these currencies.
GBPUSD We see here that GU could be consolidating between 1.35630 and 1.36400 for the rest of the week.
There is strong bearish momentum from Thursday's selloff and price would need to break 1.36400 for a complete change in sides.
Consolidation may continue for awhile before either breaking through resistance or succumbing to the bearish pressure it's currently under.
GBPUSDAs i said in the last weeks ... GU rejected from the 1.37800 area and started the descent towards my final target for this period!
however ... considering the macroenymic period of this period I expect that it will retest 1.37500 but it will still reach the target of 1.35500 in a short time
THIS WEEK...as I told you last week ... GU reached my No. 1 target and was almost close to reaching the 2nd!
in the next period I will wait for a strong retest movement and then ... I will continue SELL until my target no.2 from where ... I will reanalyze the whole situation
NOTE: Please, give a LIKE if you find this idea useful!
GREAT ATTENTION:
*This information is not a Financial Advice.
SHORT trade for GBP/USD Short trade for GU. A little premature on my entry but it wound up not being so bad. Solid show on the minor resistance to the previous major. Barring any bad news from either country, I don't expect too much resistance towards my profit target. I am currently in this trade. Will keep up to date. Here are my numbers for the trade.
Entry - 1.37144
Stop Loss - 1.36141
Stop Loss - 1.35814
Risk - 1%
R/R -2
As always,
Stay safe and stick with your plan.
GBP/USD Signal - GBP Markit Manufacturing PMI - 1 November 2021GBPUSD has traded into the fibonacci golden pocket as support prior to the GBP Manufacturing PMI data later today, which is an indicator of the economic situation in the UK manufacturing sector. Technically the pair is at fibonacci golden pocket support, the RSI has generated a buy signal, and there is a large imbalance candlestick pattern. We anticipate upside into the 1.3755 level.