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Britishpound

GBPUSD, Potential To Complete Major Descending-Triangle!Hello, Welcome to this analysis about GBPUSD and the 12-hour timeframe perspectives. GBUSD in the recent times initially stopped with its downtrend and showed up with a reversal move to increase with bullishness in the structure and to bounce off the 1.3 mark. Now on the broader perspective as seen in my chart GBPUSD is developing this main descending-triangle-formation with the coherent wave-count within the formation and the waves A to C already completed. The wave B has been completed with this ascending-triangle and the wave D is now developing a local bull-flag which is the actual source of the main wave E to follow up and finally complete the whole wave-count, if GBPUSD then manages to bounce within the lower boundary and finally breakout above the upper boundary of the descending-triangle-formation this will be the setup for further continuations and will activate the Descending-Triangle-Target-Zone as seen in my chart. Once this zone has been reached it has to be elevated how GBPUSD continues from there on and in this case it will be a crucial consideration on if GBPUSD firstly pulls back or manages to form a formation in this structure, it will be an important establishment ahead. In this manner, thank you for watching the analysis, all the best! "There are many roads to prosperity, but one must be taken." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
6
EURGBP approaching the long-term sell entryThe EURGBP pair has been trading within a Channel Down since mid April 2021, practically a while year almost. As this 1D chart shows, the indicator that helps the most at identifying buy and sell entries is the RSI, which has a clear Resistance Zone (to open a price sell) and a Support Zone (to open a buy). Right now the RSI is near the Resistance Zone while the price is near the Lower Highs trend-line (top) of the Channel Down. A rejection there will coincide with a rejection on the 1D MA200 (orange trend-line) and a Double Top on the 0.84785. The last such Double Top was seen on December 09 2021, where EURGBP got rejected and started a new sell sequence that made a Lower Low exactly on the -0.382 Fibonacci extension. Currently the new such extension is at 0.81000. On the other hand, if the 1W MA50 (red trend-line) breaks to the upside (has been intact since January 13 2021), the trend shifts to bullish long-term and should technically start filling the Fibonacci extensions to the upside (1.382 to 2.0), which as you see happen to be almost exactly where previous Lower Highs of the Channel Down were. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Short
by TradingShot
1
Forex analysis looking at the GBPUSD 1.30 the bottom?I am looking at the GBPUSD on a daily chart. It looks a lot better after holding 1.30 support levels and then the breakout. I would like to see a nice break above 1.32 resistance and go from there to really determine if the pound is really ready to turn thing around. Next would be 1.34. We can look back in the past and see levels of support are now resistance and also the lower highs and lower lows confirming the downtrend. I do not trade forex much these days but I still look at the major fx pairs daily just to see what's going on. Edit. In my pink bubble I wrote .132 but of course it is 1.32
Long
by Dancharles
GBPJPY Trading planThe pair has been trading within a Channel Up since early 2021. However as earlier in the pattern, it has been inside a corrective channel since the February 10 High. The recent geopolitical developments though in Ukraine have caused a massive rally in the past week and is close to breaking to the upside. If it does, we expect a new Higher High at 159.000. If it gets rejected at the top of the corrective channel, then we could see a new low within 151.000 - 150.000, before it recovers again. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
by TradingShot
1
GBPUSD bottomed. 1 month of uptrend ahead.The GBPUSD pair is flashing a strong buy signal today, as it is rising on the 2nd straight green 1D candle following a Double Bottom on the 1D RSI. Monday's low happens to be exactly on the Lower Lows trend-line (based on the recent December 08 Low) of the Channel Down that started in mid 2021. As a result, if the price closes above the 1W MA200 (red trend-line), then we expect a roughly 1 month rise towards the 1D MA200 (orange trend-line) again, within 1.3500 - 1.3550. As you see on the chart, the 1D MA200 has been the natural Resistance since the pair broke below it on September 16 2021 with two rejections already. On the other hand, if Monday's low is compromised with a 1D candle closing below it, we expect the price to seek the -0.382 Fibonacci extension instead at around 1.2750. Be ready to adapt and have your SLs accordingly. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Long
by TradingShot
3