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Pound

GBP/USD -27/6/2023-• The pair broke below the ascending trend line in May, one that has been intact since Oct 2022 • Bulls managed to break above the line in mid June but failed to sustain the move • Bulls and bears are now fighting around the trend line from above and below • Either of the two needs consecutive big bars above or below the line to get the upper hand • Immediate support comes at 1.2690-1.27 ( previous resistance that became support ) followed by 1.245 (previous resistance became support) • Markets are assessing the economic situation in the UK as the central bank keeps raising interest rates to fight the sticky inflation might eventually hurt the economy • Trend remains bullish as long as above the 1.2690-1.27 and bears need a break below that level to get back in control
by RamziAbouAbdallah-CMT
GJI don't know what I am doing wrong but I keep getting it wrong as moderators keep flagging my posts. The impulse upwards was an indication that the demand and the supply met each other at the right time. The blue rectangle was an indication of a area of sensitivity, the market turned just before our entry point. Therefore we missed the initial target but that's okay because they'll always be another trade. I am trying to write this as long as possible because maybe then it won't get flagged. My work and analysis is straight forward and easy to understand but clearly I need to make it complicated and full of things that are not needed. We see rejection and continuation from both sides, lots of candles, wicks left & right, up & down, sensitive zones, bear candles, bull candles, candlestick formations, channels and movements.
Long
by Mhangwane1
GBPUSD: Your Trading Plan For Next Week 🇬🇧🇺🇸 GBPUSD is testing a key daily structure support. Analyzing the reaction of the price to that, I spotted a double bottom formation on 1H time frame. To buy the pair with a confirmation, wait for a bullish breakout of its neckline. Hourly candle close above 1.2737 will confirm the violation. A bullish continuation will be expected to 1.2787. Alternatively, if the price sets a new lower low on 1H, the setup will become invalid. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
10
GBPCHF: Bullish Move From Key Level 🇬🇧🇨🇭 GBPCHF is trading within a wide horizontal daily zone of demand. Take a look how the price reacted that that area on 1H time frame: first, the price broke and closed above a resistance line of a bullish flag pattern, a double bottom pattern was formed and its neckline was broken then. Chances are high, that we will see a pullback from the underlined structure. Goals will be 1.1295 / 1.132 ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
8