The chart clearly shows that the buyers took an active position yesterday, overcoming the resistance level, indicating their intention to push the price even higher. However, the sellers did not give up and tried to hold their position, so the price slightly rolled backwards to the bottom. In general, the direction of the trend is upwards. If the bulls remain persistent, we will most likely see an increase of price in the medium-term.
Letís determine the support and resistance levels of GBP/USD in the chart.
To continue the further growth of the price, buyers will need to overcome the resistance level at 1.1936, and successfully gain a foothold above it. However, if bears resist and manage to push through the support level at 1.1708 and remain below it, the trend will most likely stop, and we will soon see a reversal downwards.
As of the moment, the main direction of the price is upwards. I recommend opening purchase deals for this asset.
Open positions in the area of the resistance, or from the lower border.
Good luck and have a good day!
Well good analysis about GBPUSD pair yesterday GBP USD provided clear negative signal to approach the recently recorded low at 1.1410 but touch 1.1445 and after that it begins with bullish bias to hint forming double bottom pattern that supports the chances of achieving more bullish correction on the intraday and short term basis, and the price breach 1.1830 now it touch that 1.1830level to activate the positive effect of this pattern followed by rallying towards 1.2093 as a next positive target. Therefore, we expect witnessing more rise today and after its kiss at 1.1830 level mean that now looking good to buy and set target of 1.2090. Now rejection of bullish bias is resumed and good opportunity for buyers
Hi, everyone. Wednesday is the middle of the week and today we can get a signal for the pair's movement in the coming days.
After a week-long absence, the mandatory zone has finally appeared, so a pattern between two important levels - the mandatory zone and the current liquidity ratio - can be created.
The mandatory zone is 1713-1686 and it is possible to open buy deals here. True, the price has rushed up and can face the option border of 1813.
Therefore, the price can go towards the bears' stop loss orders located at the level of 1933 right away and only then down.
So, today the pair is likely to pass at least 200 pips.
The balance has also shifted and now it is at the level of the pair's low, that is 1460. By the way, the price failed to break through it. So, if the price goes there today, another pattern may be created. However, itís too early to talk about it.
Yes, this is exactly what the powder will do because it is getting stronger. And after that, there are more people to buy it, but they will come to found, if they are very few who are buying it, then I will market or go down and will remain in the market for a long time. After waiting a little, when we get good signal, then we have to set up our entry there.
---------- Post added at 02:01 PM ---------- Previous post was at 01:55 PM ----------
This will not happen in the market and we should do whatever we set our name aside so that people know very well that the market is going to go from here. The same traction is known in the market for free and it is the same good trader. It tells only one line that every person knows what the market campaign tells, and he is not called a good trader. Either I appeal to you that you also present your own viewpoint, in front of people, walk on the same path and tell the same thing.
Today is Wednesday and the most interesting things are yet to come.
Let's consider the situation on the pound sterling.
Yesterday, I was looking for an entry point to sell. I opened a sell deal at the level of 1.1755, placing a stop loss order just above 1.1855.
The downtrend is about to be broken. The reasons are as follows:
Yesterday, during the American session, the pound was standing still in the range of 1.1690-1.1800. This indicates that the British currency is not going to fall.
Besides, the price is currently slightly above the core of the current week, just in the area of the core of the previous week.
Thus, if the pound makes an upward movement of at least 50 pips and then does not go below the 17th figure, it would mean that the medium-term direction has changed and the pair has started to move in an uptrend.
In general, now I do not consider sales. Yesterday, I found a rather good entry point. I sold the pair, but I failed to make a profit.
The price is stuck at the top and it seems like it is not going to go down. The fact that yesterday in the American session the price was trading in the range of the previous week's core and today it has been able to rise a little higher, indicates that the pair's downward movement is about to come to an end.
There is still a chance, but the pair needs to go below the 17th figure, otherwise, we will have to buy from the current levels and hold a deal until the pair's high in the 32nd figure. However, itís too early to talk about such targets.
In general, I am closely following the situation.
Today, the pair can turn around upwards in the medium term.
If we consider growth, I see accumulation in the range from 1.2200 to 1.2400.
The volume is rather great. And most importantly, traders opened a lot of deals in the area of the buy delta. The price has not yet returned there.
So, if the pound sterling begins to move in an upward trend (now the pound is about to change its direction), it is better to wait for the price there.
The GBPUSD currency pair is showing bullish momentum. Technical indicators on the 4-hour chart indicate a likely increase: the METRO indicator lines are above the white line, the laguerre is above 0.75, the RSI (3) line is above the RSI (13) line, the direction line is light blue, quotes are higher daily pivot level, SMA 21, 50. Resistance levels: 1.1904, 1.1997. Support Levels: 1,1806, 1,1712. Based on a technical analysis, I consider long positions above the level of 1.1806 with the target of 1.1904, 1.1997. An alternative scenario can be considered below the level of 1.1806.
For this day, the pair has reached the edge of the correction channel on the downward trend of the British pound as well as the daily reversal from this level. Moreover, the trend line was also broken down. So far, there are sell signals which need to be given attention to. There is a possibility that the sell signal for the pound will be canceled. The price exit will be above the level of 1.2000.
In this pair GBP/USD the bar chart pattern of technical analysis clearly shown that its going towards the sell and this pair went this week oversold approaching the market territory while maintaining the current direction so seller must be careful and be watchful while placing sell at this moment is much risky rather you must wait for a morning session.
although in bigger time frame still have strong for downtrend movement, in short term this pair have Up move too, the key look in price 1.1750 - 1.1792 for consider if the trend still have or can move more low level. but we don't know about the next level movement so if the price can move more higher 1.1792, next level with have good potential for retest price again around 1.2070.
key level for focus move more Low or more high is 1.1792 for this week.
the trend look have bullish in short term trading with confirmation cross MA. level carefully in the high today after that have bearish candlestick.
GBPUSD look success full make new high in this week, but still consider next level about area SBR (support Become Resistance) in previous support in level 1.2001.
this level can consider if can break more high or no for this time, if we see level around 1.2067 - 1.2070 have something with that candlestick, so becarefull in this level.
During the previous day, the pound/dollar currency pair moved quickly from the opening of the trading day to the upside. As it reached the local maximums, sellers abruptly changed the inertia of the price movement and pushed down the price to the price zone with volumes, wherein they began at a sharply lower price. Buyers, in turn, bought the price in areas with increased volumes and directed the price to increase again, which is quite a relatively unexpected reversal, since at that time of falling, it could not appear that growth would begin again, especially after strong movements to decline during the recent weeks. Today, it is believed that the price will resume its upward movement calmly and likely reach the daily level of 1.21602, from which declining in the trend can be simple or in case that buyers managed to break through this level and consolidate over it, it will be more difficult to continue the corrective growth of the price.
Generally, this currency pair has a downward trend which has been going on for several years. Therefore, the decline can lead to controversial emotions in terms of expectations of the continuation of the trend. It is so strong that it has been going so long in terms of waiting for a reversal, as the pair cannot move down for too long. Moreover, the long-term trend is becoming so long-term, although there is nothing to object to the trend, since there is really a little reason for the growth of the pair, and even more so, events have been occurring there for a long time and now, a quiet horror can generally begin. Thus far, correctional price growth is expected to resume and it will be completed around the monthly level of 1.2335 or last option, at the weekly level of 1.259 so that buyers need to wait for the growth to be done and analyze the situation on the subject of whether to come out, and sellers have to wait just reach the levels and observe the pricesí behavior, in case that a pair is not prepared to return to the downward trend.
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