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Pound

UK 11% inflation and supply chain shock is starting to fadeUK inflation goes to 11% a 41-year high, goods prices continue to increase. BOE says supply chain shock is starting to fade, however, with this inflation rate, the next couple hours the EURGBP will certainly go long. Chart: We have a support that was not tested after the dates of UK. But we can see the RSI in a oversold zone and after changing the direction the MACD is going up. The MA of BB has already been tested with some candles shadows, but none of them crossed it.
Long
by AFCapital21
2
InvestMate|GBP/USD End of growth💵💷💵💷GBP/USD End of growth. 💵💷Why I think this is the end of the growth. 💵All due to the upward correction on the dollar that I think will take place in the coming weeks. 💵After I perfectly predicted the downward wave on the dollar. Link to post below: 💵Now I think it will be time for an upward correction in this trend: 💵💷Which will have an impact on the GBP/USD pair. Looking at the fundamentals: 💷 UK economic growth also slows is currently 2.4%. 💷We will find out about unemployment today (15 November). We are currently at 3.5%. The market is not entirely convinced whether we will maintain this level or increase. tradingeconomics.com 💷Inflation continues to rise we have 10.1% so far but the market expects a further rise, which may prompt the monetary policy council to remain mostly hawkish. 💷 Rates were raised to 3% on 3 November and so far there is no sign of us slowing down in the near future. 💷I would also like to add that a few weeks ago the Central Bank of England announced unlimited asset purchases which may influence the strengthening of the pound. 💷Which has been evident in recent weeks on the chart, but I think the main fiddle here will be played by the dollar which will surprise with strength and a return of bullish sentiment. With this, the GBP/USD price is likely to go down to the levels marked on the chart 💵💷 Moving to the chart in turn I will describe everything I have applied. 💵💷Beginning with the upward channel in which the price has been oscillating for the last few weeks. 💵💷I would also like to point out the impulse structure, each upward impulse was preceded by a rather deep correction. The price has repeatedly struggled to make new highs. This shows the weakness of the pound compared to the dollar. 💵💷 I also measured the entire upward wave using the fibo to spot price points of interest. 💵💷I also measured the biggest downward correction using the fibo to find where the price could stop. 💵💷I also found a harmonic formation on the chart using the fibo measurement of the last downward correction 💵💷I measured the range of the largest correction in the upward momentum to determine the range of the 1:1 correction 💵💷Based on the cluster I got from combining the range of the largest correction in the impulse and the 0.382 level, I determined a strong support zone. 💵💷Based on the cluster of the outer levels of 1.272 and 1.618 and the harmonic formation, I determined a strong resistance zone where we are currently. 💵💷💷The scenario I am playing out is the price going down to the level of the cluster of the biggest 1:1 correction and the level of 0.382 of the whole upward wave. 💵💷*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario for further increases. 🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀
Short
by InvestMate
3
JAPAN hit by covid cases and the economy contracted 1,2%Japan GDP growth drops 1,2% YoY, and it is followed by a increase in covid cases In the chart we can see: 76,4% FIbo could be the next support, because has already been tested the line after the breakout occured at 9AM GMT, and the top line of descending channel was tested twice after that, followed by bullish candles crossing EMA MACD and Signal is already above de 0%, and we can look at RSI, and it seems to be strong signal above 50
Long
by AFCapital21
GBPUSD: Classic Trend-Following Setup 🇬🇧🇺🇸 Hey traders, I spotted a cute bullish flag pattern on 1H time frame on GBPUSD. Trading in a bullish trend, the market started a correctional movement on Friday. The price was steadily falling within the channel. Its resistance were broken this morning. Probabilities are high that the pair will keep growing now. Goals: 1.185 / 1.189 ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
10
GBP/USD -8/11/2022-• Bearish picture still intact for the pound • Dovish BOE, recession risks weigh on the sentiment • Technical picture points towards weaker pound in the period ahead • Bulls and bears fighting around the resistance line dating back to Feb 2022 highs around 1.36 • As long as bears are able to defend the trend line resistance, they still got the upper hand • Bulls need to regain 1.164-1.174 levels to turn the odds in their favor • Next support at 1.114-5 where strong demand was found
by RamziAbouAbdallah-CMT
GBPUSD: Long-Term Technical Outlook 🇬🇧🇺🇸 GBPUSD is trading in a global bearish trend. The price perfectly respects the boundaries of an expanding falling wedge pattern on a weekly. Reaching its support, the pair started a correctional movement. The market is already growing for more than a month. Ahead is the resistance of the wedge. Depending on the reaction of the price to that, I see 2 potential scenarios: If the price respects that, a new bearish wave may initiate. If the price breaks and closes above that, it will most likely lead to a continuation of a current correctional movement. I will post an update once I see a decent confirmation. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
12
US dollar index DXY short ideaShorts only for the US dollar today, but looking at the chart we have a reasonable target to the downside which would complete a channel. A further push lower into an imbalance with a swing low with plenty of stops below it. To the upside, we have a double top and a continuation of a larger/higher time frame bullish trend. In these markets, you need to pick a side and take any signal that comes your way. Going long and short on the same day will just lead to getting chopped up. If you pick a side and you don't get filled it is a lot better than picking a side and losing money, so be grateful. Short DXY would infer that we are looking for longs in EURUSD and GBPUSD
TVC:DXYShort
by Macrobriefing