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Thread: GBP/USD (part 58)

     
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    2021-01-19   11:47
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    Today, the Americans will enter the market after celebrating Martin Luther King Day. Therefore, the market is likely to be rather volatile. It can be seen from the chart, there are no clear trends. Thus, this is not the best time for trading this currency pair. In my opinion, we need to have clear support and resistance levels with several extreme points. Therefore, the best way is to wait for the price to form a pronounced trend. A good signal in the technical and graphical analysis is a signal which indicates a rebound from the support and resistance zones. The price is currently close to such a support price zone, so I have placed a buy order. It has not triggered yet, but I think the price may touch soon. I believe that the most probable scenario implies the pair's movement from the support price zone.

    The British pound is trading sideways in the medium term. According to the current mid-term chart of the pound sterling, there is no clear trend. Therefore, we cannot use trend trading tactics. Now the best way is to focus on pronounced levels of support and resistance, that is, to use trading techniques focused on trading in a sideways corridor. I think that the level of 1.3450 can be seen as a good starting point to enter the market. A stop-loss order can be placed at the level of 1.3390. A take profit order can be set at 1.3700. This trade has limited risk and a good profit-to-loss ratio.
    As for the euro, the best way to make a profit for intraday traders and scalpers is to open short positions, as the pair is moving in a clear downward trend from its high. Of course, corrective pullbacks periodically occur, but still, in my opinion, the quotes are moving downwards. In any case, I think that trading against the trend will hardly generate profits. The main condition for trading against the trend is a profit-to-loss ratio. Profit must be greater than the risk. Otherwise, it makes no sense to trade against the trend. As for the next few days, it is possible to sell the pair below 1.2100 to reach the target levels of 1.2040 and 1.2020.
    Speaking of the AUD/USD pair, despite its stagnation and the Australian dollar's correction, I think that the quotes have every chance to resume their upward movement. According to the daily chart, the current trend is bullish. Many market participants are quite optimistic. Therefore, the pair is likely to continue moving upwards. In such a case, the best way to make a profit is to buy the pair, of course, with carefully calculated risks and amid at least slight corrective pullbacks. Long positions can be opened above 0.7460 with a view to reaching the target levels of 0.7820 and 0.7990.

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    2021-01-14   13:39
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    Hi!

    The GBP/USD pair is currently trading at the level of 1.3638, and I expect it to decline to 1.3466. It is unlikely to move lower, though, as the range ends there within the Envelope indicator on the H4 time frame. There we can also see a 200-day moving average. To get sell signals, the pair needs to move down to the 1.3600 - 1.3623 area.
    So far, the pair has been holding above this level, so it is likely to rise further. This goes against the fundamental picture, so I do not consider opening buy positions at the moment. I will open short positions when the pair returns below the level of 1.3600.

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    2021-01-13   10:21
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    GBP/USD analysis.

    Yesterday, the pound sterling rallied significantly, hitting its high of 1.3700. Moreover, buyers do not want to give up, intending to pull the price up further shortly. The trend remains bullish. Those who choose to trade along the trend are still making profits, as opposed to those who prefer to catch the pair's highs and lows. Of course, such an approach can also be applied but provided that the ratio of profit to loss in counter-trend transactions is very high.
    As you can see from the chart, there is an ascending support line. The price has repeatedly hit lows through which this line is drawn. From a technical point of view, the best way is to trade with a view to rebounding from this line. I have placed pending order. The profit-to-loss ratio is also rather good.
    Long positions can be opened from the support line of 1.3350. A stop-loss order can be placed at the level of 1.3285. A take profit order can be set at 1.3600.
    As for short-term trading, I recommend that you control risks and buy above 1.3615 with a view to reaching the target levels of 1.3700 and 1.3735.
    Yesterday's trading day showed that it is better to focus on purchases on the hourly chart. Of course, the hourly chart is not a daily chart as the levels and targets are different. However, given the price direction of yesterday's daily candle, the best way to make a profit is to open long positions with short stop-loss orders.
    Speaking of the intraday trading for today, I think that we should buy the British pound above 1.3500 to reach the target levels of 1.3570 and 1.3600. A stop-loss order can be placed at 1.3490. Besides, please do not forget about the macroeconomic calendar. The data on the core consumer price index from the United States is set to be released today. Therefore, I expect slight volatility during the American session.

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    2021-01-18   06:01
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    The pound rose significantly, reaching its high of 1.3700. In addition, buyers do not want to give up, with the intention of pulling the price up further in the near future. The trend remains high. Those who choose to trade along the trend are still making profits, unlike those who prefer to catch the pair's ups and downs. Obviously, this approach can also be applied, but as long as the relationship between profit and loss in transactions against the trend is very high.As you can see in the chart, there is an upward support line. The price has repeatedly reached the lows through which this line is drawn. From a technical point of view, the best way is to negotiate to recover from that line. I placed a pending order. The profit and loss ratio is also quite good.Long positions can be opened from the 1.3350 support line. A stop loss order can be placed at level 1.3285. A profit order can be set at 1.3600.As for short-term trading, I recommend that you control the risks and buy above 1.3615 in order to reach the target levels of 1.3700.
    Attachment 320261
    Previous week trading session showed that it is better to focus on hourly chart purchases. Obviously, the hourly chart is not a daily chart, as levels and goals are different. However, given the direction of yesterday's daily candle price, the best way to make a profit is to open long positions with short stop loss orders. Speaking of intraday trading for today, I think we should buy the pound above 1.3500 in order to reach the target levels of 1.3570 and 1.3600. A stop loss order can be placed at 1.3490. Also, don't forget the macroeconomic calendar. Data on the United States' basic consumer price index is expected to be released today. So, I expect slight volatility during the American session.

    The attachment
    2021-01-18   10:19
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    The GBP / USD currency pair continues to move as part of the correction and formation of the Head and Shoulders reversal pattern. At the time of publishing the forecast, the rate of the pound against the US dollar on Forex is 1.3493. Moving averages indicate a short-term upward trend. Prices again rose in the area between the signal lines, indicating pressure from buyers of the currency pair and a possible continuation of the instrument's high. At the moment, we should expect an attempt to correct the GBP higher against the US dollar and a test of the resistance area near the 1.3535 level. Where again we can expect a recovery and the beginning of a fall in the sterling quotations against the US dollar. The target of the downward movement of the currency pair,
    An additional signal in favor of the falling currency pair will be a test of the relative strength index (RSI) trend line. The second sign in favor of the decline will be a recovery of the upper edge of the Head and Shoulders reversal pattern. The cancellation of the pound / dollar pair option will represent strong growth with the breaking of the resistance area above 1.3705. This will indicate a collapse of the resistance area and continued growth of the Pound / Dollar pair to the area above the 1.4135 level. It is worth waiting for confirmation of the pair's decline with the breakdown of the support area and closing prices below 1.3305.
    Attachment 320434
    GBPUSD Forecast Pound Dollar Janaury 18, 2021 suggests an attempt to test the resistance area close to the 1.3535 level. Then, the fall continued with the target below 1.3015. An additional signal in favor of the British pound drop will be a test of the resistance line in the relative strength index (RSI). The cancellation of the reduction option will be strong growth and a 1.3705 area drop. This will indicate a continued increase in the pair, with a potential target above the 1.4135 level.

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    2021-01-18   18:28
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    GBPUSD Selling Opportunities:
    Background of the pair:
    Hello friends, The GBPUSD has been moving with a very strong bullish momentum for a quite a long time but in the last week, it failed to break above the 1.3700 resistance area. The failure to make a new high seems to cost the pair to lose the bullish steam and currently moving with bearish momentum. But we must remember this is not the change of trend rather we can count this bearish movement as a correction only.
    Present Condition:
    In the previous week, the GBPUSD has fallen below the 1.3600-1.3616 support level with strong bearish momentum and at the beginning of this week, we have seen the continuation of the momentum. As per the retracement process, the GBPUSD is currently going for a correction and trading around 1.3570. From this area, we can go for shorting the pair or we can wait a bit more to reach the price nearest to the 1.3600 resistance area.
    Attachment 320621
    Based on the price movements, the area below 1.3600 can be defined as a selling zone and any clear break above the 1.3600 would become a buying zone. At this moment the pair is testing the EMA 21 and there is a chance that it may go bearish from this level of 1.3570. But if the pair pushes higher then it may try to retest the broken support area of 1.3600, which is also supported by the EMA 50 & 200 both.
    Possible sell setup 1:
    We can short the pair at this moment at around of 1.3570 with the support of EMA 21 and the stop loss has to be above the resistance area of 1.3600-1.3616 area and the take profit level would be the 1.3490-1.3480 support area.
    Possible sell setup 2:
    We can wait a bit more for the pair to reach the 1.3600 resistance area and then we can go for short with less risk, but the stop loss and the take profit level would remain the same.
    Fundamental Issues: The USA is currently preparing for the inauguration of New President and things can change very rapidly with this process. On the other hand, the UK is fighting the covid with higher severity, so need to watch out for any unscheduled/incertain news to appear. Also, we must maintain proper money management, to avoid unnecessary risks.

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    GBP/USD analysis.

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    Yesterday, the pound sterling rallied significantly, hitting its high of 1.3700. Moreover, buyers do not want to give up, intending to pull the price up further shortly. The trend remains bullish. Those who choose to trade along the trend are still making profits, as opposed to those who prefer to catch the pair's highs and lows. Of course, such an approach can also be applied but provided that the ratio of profit to loss in counter-trend transactions is very high.

    As you can see from the chart, there is an ascending support line. The price has repeatedly hit lows through which this line is drawn. From a technical point of view, the best way is to trade with a view to rebounding from this line. I have placed pending order. The profit-to-loss ratio is also rather good.

    Name: 2.png Views: 133 Size: 80.5 KB

    Long positions can be opened from the support line of 1.3350. A stop-loss order can be placed at the level of 1.3285. A take profit order can be set at 1.3600.

    As for short-term trading, I recommend that you control risks and buy above 1.3615 with a view to reaching the target levels of 1.3700 and 1.3735.

    Yesterday's trading day showed that it is better to focus on purchases on the hourly chart. Of course, the hourly chart is not a daily chart as the levels and targets are different. However, given the price direction of yesterday's daily candle, the best way to make a profit is to open long positions with short stop-loss orders.

    Speaking of the intraday trading for today, I think that we should buy the British pound above 1.3500 to reach the target levels of 1.3570 and 1.3600. A stop-loss order can be placed at 1.3490. Besides, please do not forget about the macroeconomic calendar. The data on the core consumer price index from the United States is set to be released today. Therefore, I expect slight volatility during the American session.

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    Good day to all traders and speculators who are here in the forum!

    Lets talk about the pound/dollar currency pair:

    On Wednesday, the pound-dollar bulls have displayed their strength and approached the local high located at 1.3700 since this year started. However, the bears stopped their eagerness, which led to the correction of the quotes to the support level of 1.3630. So now, we will make trading recommendations on the indicated instrument. It is not recommended to sell the pair after the correction ended as it is not relevant. Whats more important is to expect for the formation of a new downward trend, which can be supported by the unemployment data in the United States. However, this will only be released during the European trading session. In this case, it is more likely to reach the nearest high located at 1.3700 before things unfold.

    Best of luck to all!

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    Hello dear traders!
    For the GBP/USD currency pair, I consider buying with the first target of 1.3700. I expect strengthening from the current levels or after falling to the area of ​​1.3605. This scenario will be cancelled if the pair consolidates below the level of 1.3550. If this happens, I will consider selling with the target of 1.3428.

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    Name: 13-01 gbp usd.jpg Views: 52 Size: 277.3 KB

    A series of ups and downs continues. Last in line was a downward momentum, the price falling towards 1.3600. In general, the picture certainly remains in favor of the bulls, but I do not rule out that the bears want to bring the price lower. From the current price, it can be 100 points down.

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    Target within the day - 1.3500
    Priority to sales - 1.3650
    Limit of loss - 1.3670

    The pound-dollar pair continues to form resistance above the upper border of 1.3224-1.3538. For todays trading, I look forward for the update of the previous maximum, that is, above the level of 1.3703. Otherwise, I expect the pair to decline.

    If the downward trend persists, then further sales to 1.3500 is possible. In case of this scenario, then from the current level, I still expect a slight upward reversal to the level of 1.3650 for sales.

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    Hi!

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    The GBP/USD pair is currently trading at the level of 1.3638, and I expect it to decline to 1.3466. It is unlikely to move lower, though, as the range ends there within the Envelope indicator on the H4 time frame. There we can also see a 200-day moving average. To get sell signals, the pair needs to move down to the 1.3600 - 1.3623 area.

    So far, the pair has been holding above this level, so it is likely to rise further. This goes against the fundamental picture, so I do not consider opening buy positions at the moment. I will open short positions when the pair returns below the level of 1.3600.

    Though trading on financial markets entails high risk, still it can generate extra income on condition that you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    A pleasant day to all traders and speculators who are here in the forum!

    Analysis for the pound/dollar currency pair:

    To sum up Thursdays trading, it can be seen that the GBP/USD pair is trading in a narrow range of 1.36201 - 1.36991 for two consecutive days. The high of the previous day was not broken, instead there was only a false breakout, which broke out to the level of 1.37085. It should be noted that this false breakout even overcame the extreme on January 4, namely the initial impulse last year. But despite a breakdown by one bar, the price of the pair returned to the upper border, where further fluctuations continued. On the other hand, the formed support level can also be seen in the chart below, which is considered as the next hindrance in the downside. However, this support level will still not have a strong impact when receiving a downward impulse, so the downward direction is now only a matter of time. Now, we can say that we have returned to the beginning of the movement in early January (1.36991).

    In this case, pending orders was scattered, which are mostly developed. If we get a downward impulse on Friday, it is possible to continue selling as the bars form. Lets take a wait-and-see position for now.

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    Name: 15-01 gbp usd.jpg Views: 36 Size: 279.0 KB

    The bulls continued to develop an upward movement. They are already trying for the third time to break through the ceiling with their heads in the form of the high level located in the area of 1.3700. Frankly speaking, this time it was possible to update the high, but only formally, since the breakdown turned out to be false. Now we will have to prove once again that buyers still have not lost their strength, and can break much higher.

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    Trading ideas for the GBP/USD pair on January 15.

    Good morning!

    Name: r1.gif Views: 30 Size: 27.5 KB
    In the daily chart, open long positions from the level of 1.3710 and above, or short positions from the level of 1.2674 and below.

    Name: r2.gif Views: 29 Size: 25.8 KB
    For the four-hour chart, as there are more possible setups, buy from the level of 1.3710 upwards, or sell from the level of 1.3289 downwards.

    Name: r3.gif Views: 30 Size: 25.6 KB
    But if you prefer quick trades and fast profit, visit the hourly chart and place long positions from 1.3710 to higher price levels, or short positions from 1.3450 to lower price levels. However, make sure to do so only when the hourly candle closes, and then exit by take profit or stop loss, else, profit will decrease while expenses will increase.

    For long positions: Stop Loss - 1.3610 Take Profit - 1.4010
    For short positions: Stop Loss - 1.3550 Take Profit - 1.3150

    Other possible trades are also presented by the Accelerator Oscillator, which is seen at the bottom of each picture or chart. In it, green bars mean buy, while red bars mean sell.

    Good luck!

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    The pound-dollar pair is currently trading near the daily pivot level and below the opening of the day which is at 1.3680. So far, the indicators on the H1 timeframe suggest a potential downward trend to which the target may be set at the level of 1.3580 and01.3568. If the price trades below the daily pivot level, then that suggests the strengthening of the downward trend. Yesterday, the support level 1.3620 became a serious obstacle for the pairs correction. At the same time, the pair was blocked at the level of 1.3700 and could not breakout for further growth. So, fo today, there is a higher likelihood for a correction. Lets wait and see.

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