Get started

Gbpusdbuy

GBP/USD Long Trade UpdateHey Guys! The mid-road long entry did not set up yesterday...So I'll still be waiting for a pullback to 1.3313 and perhaps even further with the stop loss at 1.3163 and the main target at 1.3833. Moreover, since the fake 1H double bottom confirmed short term short strength, I'll still be expecting a pullback to my long entry level at 1.3313. I explain some possible intraday long set ups that formed on this move up also in the video! Check it out! I'll Keep you Guys Updated! Have a great day! Ken Disclaimer: This is not Personal Financial Advice.
Long
by TradingForexPriceAction
1
GBP/USD Long Entry UpdateHey Guys! I may be getting into the GBP/USD Long Trade early. I was going to wait for a full pullback to 1.3313 and perhaps even further with the stop loss at 1.3163 and the main target at 1.3833. However today, it is possible that short term long strength is kicking back in. Thus I may be getting in early. To explain: The 1H chart formed a fake double bottom. (I can't explain what fake price patterns are here. ) If price can reach the target height level at 1.3545 "before" reaching the 2nd bottom's pivot low stop loss level at 1.3436, this will signal short term long strength and a possible mid-road entry for the original weekly long setup. If price signals this short term long strength, I will enter at 1.3545 with a stop loss at 1.3436 and the main target still at 1.3833. Now, since this is a mid-road entry, I will be watching the lower time frames for any short term short strength to form(Trendline Break out recoveries/price pattern confirmations) in which if they do form, I will abort the long entry immediately. Moreover, one of the key levels I'll be watching if this long entry is confirmed is a 1h downward trendline. (A break out long of the trendline, then an immediate break back in = short term short strength) If short term short strength is confirmed, I will abort the long entry. Moreover, if this mid-road set up doesn't form, I will revert back to my original long entry set up. (Long entry if price pulls back to 1.3313 and perhaps even further with the stop loss at 1.3163 and the main target at 1.3833) That's it Guys! Lets see what happens! Have a great day! Ken Disclaimer: This is not Personal Financial Advice.
Long
by TradingForexPriceAction
4
GBPUSD Long Bias. Waiting for a Pullback for Long Entry.Hey Guys! The Bias for the GBP/USD on the Weekly chart (Medium Term Bias) is long. In other words, price is likely to reach 1.3833 before reaching 1.3163 I am willing to take a long entry if price pulls back to 1.3313 and perhaps even further with the stop loss at 1.3163 and the main target at 1.3833 As always, this is assuming the lower time frame price action retains its confirmation of long strength. Have a great day guys! Ken Disclaimer: This is not Personal Financial Advice.
Long
by TradingForexPriceAction
2
GbpUsd- Best place to buyAs I argued in my previous analysis, GbpUsd is bullish both on the weekly time frame, with the price confirming and reversing from 1.32 support and on daily, with the pair breaking above the corrective flag that took 6 months to form. At this moment cable is in a slight correction, and this can be a good opportunity for bulls to open long positions in the direction of the overall trend. The best place for this is the confluence support zone around 1.36 and this scenario is negated if the price fails to stay above 1.35
Long
by Mihai_Iacob
23
GBP/USD Technical Analysis: Rebound Higher Needs MomentumTechnical Analysis The recent gains of the GBP/USD currency pair moved the direction of the technical indicators to the upside. The daily chart below shows that the descending channel has been broken and the reversal has started, and the bulls should move towards the resistance levels 1.3540 and 1.3660 to confirm the trend. On the other hand, the currency pair may return to the bearish path again in case it moves back towards the 1.3180 support level. Today is a British holiday. On the American side, the house price index and the Richmond industrial index will be announced. This is in addition to interaction with announcements about the path of the outbreak of the new variant and restrictions for containment. Yesterday, the UK has reported less than 100,000 cases of the new coronavirus, the first time it has been below this limit in nearly a week. About 98,515 new cases were recorded, down from a Christmas Eve peak above 122,000. The UK government's virus dashboard said the numbers were affected by the Christmas holidays, with data for Scotland, Northern Ireland and Wales incomplete. New infections, led by the highly transmissible omicron variant, have risen by more than a quarter of a million in the past week. Despite the increase in cases and concerns about pressure on the health services, media reports indicate that British Prime Minister Boris Johnson will not impose new restrictions to curb the spread of the disease. Johnson is under pressure from members of his own party to avoid imposing new restrictions on the public. The recent gains for the GBP/USD pair gave weight to the views of technical analysts at Credit Suisse and BofA Global Research who were recently suggesting that the pound's six-month depreciation against the dollar may also be nearing an at least temporary end. Credit Suisse is looking for a trading range to develop as sterling price consolidates between recent lows and estimated highs around 1.3371 over the coming weeks, although the technical team at BofA Global Research sees room for a sterling bounce to extend towards 1.36 resistance. According to Bank of America, “Over the past month, we viewed the GBP/USD pair as a contrarian buying idea at around 1.32 while above the 1.3150 support level (reference reports: Dec 13, Dec 6, Nov 23). Market reactions in response to the deluge of central bank meetings and recent critical data releases confirm this view.”
Long
by SmoothJB