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Gbpusdforex

GBP/USD trades around 55-hour SMAMorning outlook - GBP/USD trades around 55-hour SMA The British Pound is continuing to trade lose value against the American Dollar in a one-month-long descending channel. Despite a bunch of important macroeconomic data releases, the pair did not make any substantial advances yesterday. One of the reasons for that was the 55-hour SMA, which traders continuously used as a support and resistance. As a result, the pair ended previous trading session in the centre of the channel. Because of the bullish sentiment, traders are likely to try to push the rate to the upper edge of the pattern. However, the above 55-hour SMA once again might turnaround the pair and force it to slip to the weekly S1, which is located at the 1.3210.
by UnknownUnicorn890690
Has the market declared the bottom for the GBP? Is it undervalued do to uncertainty? Has the downtrend/momentum, reversed/consolidated and prepared to move in the direction of it's true value? After all the noise coming from every angle, positive and negative, the technical foot print points to a grey area where all sure bets are off. As the market has failed to break below the 52 week low in search for a true bottom smart money should be looking for alternative opportunities to produce positive returns. As all the hoopla has simmered down, the Pound bulls has "come out of hiding" and is more or less positioning to fight for it's integrity. Well to keep this short story short, the market seems to be mapping out a H&S pattern. The Bat pattern is there courtesy of the "flash crash" back on the Seventh of October 2016, where the market gave way 700 pips only to give around 500 pips back all in 1 hour. Keeping that in mind it is also a fact that this pair never closed below 1.21000 in 2016 period. (No pun intended). The first and only time in recent history that happened was back in January due to the no FED rate hike sentiment before the February meeting. Thus the head forms and test the nearest high to form the neckline. The rejection at that point you could guarantee every trader willing to trade this pair was bull on the dollar riding this thing down looking for a break below previous lows. As we can clearly see now that the break below did not happen, forming the right shoulder, could you answer the aforementioned questions with confidence? Surety? A break and close above the neckline should seal the deal relative to upside. Relative to the grey area? You know they claim there are 50 shades to consider.
by WealthGod6
GBPUSD 4hr longFellow traders, We all see the massive tumble of the FX:GBPUSD and cheers to those that caught it. My eyes have been elsewhere and truthfully I couldn't tell you why this move has transpired with this pair. Nonetheless if you don't have the 1.2945-1.2960 level on your short term radar you may want to run away as fast as you can, lol. This pair is tremendously oversold and reversal is imminent. Time is the variable that needs to be discovered. NFP report for the month of September could bring this level into reach easily not to mention other pertinent news factors. So for me to consider a short I need to see this level be come reality.
Long
by WealthGod6
Possible +80 Pip GBPUSD Range Breakout!GBPUSD has been in a +80 pips range for the past 4 days or so, and is likely to breakout of this range anytime soon. The MACD and the RSI are favoring a bullish breakout since they are both showing clear signs of positive divergence. On a much bigger scale, GBPUSD formed a falling wedge from the July highs at 1.34768. A bullish breakout of the range will result in a bullish breakout of the falling wedge (likely to happen) but if we have a bearish breakout of the range - the falling wedge's diagonal support could be this pair's next support level. Bullish breakout means the possibility of more more pips to bag. What do YOU think? ANYTHING CAN HAPPEN!
by UnknownUnicorn94714
3
GBPUSD - Long Position - At-least 3000 Pips!Based on AB=CD pattern , Time Ratio & Gann Analysis. This is a potential long position for at-least 3000 Pips! This trade has a complete structure and every single move will earn you Huge Pips. I have tried to mark the best entry points for both sides (Short & Long). I am in this trade from 1.28000 , Brexit helped me to enter this trade quickly otherwise It would take a little longer to reach my price. It may still go down keeping the current situation in mind, my trade is well planned so even if it breaks 1.28000 , I'll keep adding more positions. .TP & SL are mentioned in the chart. Adjust your Stop Loss according to your lot size, account equity ,strategy & money management. ***If you want to get in this trade from this point or 1.32000, you can still catch 800 pips till TP1 is reached, however there may be a pullback , It is recommended to enter with a smaller lot size if you want to take a long position right away & manage your stop loss accordingly. Good Luck.! * This is my personal view and analysis on this chart. If you follow this idea please plan your trade according to your lot size and account equity . Don't forget to like, If you like my analysis :)
Long
by Jaffery
7