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Thread: GBP/USD

     
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    2021-02-26   11:49
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    Attachment 336362
    GBP/USD on H1 chart.
    In the early session, the pair settled below yesterdays low of 1.3999 and continued to move downwards.
    At the moment, the pair is trading below the middle Bollinger Band at the 1.3958 level.
    On the chart, we can see that the MACD histogram is located below the zero levels and generates a sell signal.
    I consider opening short deals with the target at 1.3916.
    Good luck!

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    2021-02-26   11:40
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    Yesterday, the pound/dollar pair made a significant downward movement. However, in my opinion, a correction is just beginning. As for the so-called trend direction to the current market conditions, I think that the quotes continue to move in a clear upward trend. Therefore, I believe that long positions are still the priority. An uptrend implies that the price periodically hits a new high. In such market conditions, the best way to make a profit is to trade along with the trend. Sometimes I catch counter-trend signals from the levels, but with a large profit-to-loss ratio.
    My pending buy orders, which triggered amid a correction to the Fibonacci levels, are still open. The pound/dollar pair is currently slightly below the entry point, so we have a small unlocked profit. I hope that the pair will continue trading upwards, and soon the quotes will test the price area where my take-profit order is located. A stop-loss order must be set just below the 61.8% Fibonacci level. Ideally, below the nearest support level located just below the 61.8% Fibonacci level.

    Let me remind you, in trading I use the entry points based on the 38.2% and 50% Fibonacci retracements. We could limit losses just below the 61.80 Fibo level. In this particular situation, the levels of 1.4080 and 1.4030 act as the 38.2% and 50% Fibonacci levels. A stop-loss order can be placed at the level of 1.3960 a take-profit order can be set at 1.4220.
    The British pound is still the leader in terms of growth against the US dollar this year among hard currencies.We can see from the trading chart that the pound/dollar pair is moving in an upward trend. Therefore, I think that market participants should focus on long positions. An interesting option is to enter amid corrections, for example, after the oscillators with classical parameters enter the overbought zone. In general, the current trend is bullish. Speaking of the coming trading days, buy orders can be opened above 1.4110 to reach the target levels of 1.4175 and 1.4205. In the long term, long positions could be open above 1.3700 to reach the target levels of 1.4370 and 1.4550. Some traders believe that the potential has been exhausted.
    Todays macroeconomic calendar includes quite interesting and significant news releases, including the University of Michigan Consumer Sentiment Index. At this time, the market may become volatile.

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    2021-03-02   09:33
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    On Monday, the pound/dollar pair was trading around the 1.3900 level, more specifically, in the range of 1.3998 - 1.3903.
    We can see from the H1 chart that the price is currently trying to enter the 1.3800 range to reach the support levels of 1.3883 and 1.3846.
    Given that bears are rather strong, this plan may well be implemented today.

    The resistance levels for today's trading session are located at 1.3941 and 1.3978..

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    2021-02-26   09:39
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    Attachment 336310
    GBP/USD on M15 chart
    The levels indicator on the pound turned to the selling area and opened below the mandatory zone. We may see GBP/USD moving up to the mandatory zone in the range of 1.4108/1.4084. From there, the price may continue to decline to the lower boundary of the options channel at 1.3993. At the moment of writing, a buy signal was generated. The signal could be easily ignored.
    Attachment 336311
    GBP/USD on M1 chart
    The expert advisor in the RunoST trading system disappointed me yesterday. It brought me more losses with -50 pips. I got 3 orders open, so this makes it -150 pips in total. The second round of losses in a row, so I decided to turn it off for now. I need to give it some thought.
    According to the Runo ST trading system, all the filters turned red which indicates short positions. The latest signal generated by Runo R is also a sell signal.
    Today, Ive placed a pending order on GBP/USD at the lower boundary of the mandatory zone at 1.4085. I put Stop Loss beyond the daily balance at 1.4126. Take Profit was set at the lower boundary of the options channel at 1.3993.

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    2021-03-01   09:43
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    As for the pound/dollar pair, I think that opening long positions continues to make sense. In my opinion, buyers are still leaders in the market, as the price periodically hits new highs. Ideally, traders should enter the market amid corrections. If you want to catch the price at the top, a profit-to-loss ratio must be great. Under a good profit-to-loss ratio, a profit is significantly greater than a possible loss invested in a trade.
    Given the current market situation, we should take a look at the support level indicated on the chart attached to this post. I think it is better to have a pending order to go long. Well, just in case. Naturally, with a good profit-to-loss ratio.
    Long positions can be opened from the support level of 1.3870. A stop-loss order can be placed at the level of 1.3810, while a take-profit order can be set at 1.4100.
    The long-term trend is bullish. The quotes are moving in a clear upward trend. There is optimism among many market participants. As a result, they are pushing the quotes up. In such conditions, the best way to make a profit is to trade along with the trend. Naturally, you should carefully calculate all the risks and enter the market amid at least slight corrective pullbacks. Buy orders can be opened above 1.3700 with a view to reaching the target levels of 1.4370 and 1.4550.
    This weeks macroeconomic calendar includes jobs data, which could affect market sentiment. Besides, the data on business activity in the manufacturing sector to be released today may stir up the markets. This could set the tone for the price dynamics right up to the close of the daily candle.

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    2021-02-26   06:33
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    Yields on 10-year US bonds rose 1.6 percent again, signaling that the country's economic growth is beginning to recover. Market players began to respond to the situation with a strong US dollar index, which weakened the GBP / USD pair. With the introduction of vaccines in all countries of the world, market players have become optimistic about global economic growth, and thus increase production activity, which has an impact on global oil prices.
    The rise in yields was felt earlier this year and market players have not yet taken into account the impact of the economic recovery with the rise in bond yields. At the end of 2020, 10-year bond yields were still at 0.9% and have now risen significantly to 1.6%. Fed Chair Jerome Powell testified on Capitol Hill for 2 days, still not wanting to respond to the increase in bond yields as an indicator of liquidity withdrawal, but market players began to worry about this increase as time of typing.
    The impact of the rise in bond yields reduced the Dow Jones stock index by 560 points and strengthened the US dollar currency, which had a significant impact on the GBP / USD pair. The British pound fell sharply because the British economy had worse economic data than the United States. This is the third national lockdown by the UK since the outbreak of the epidemic.
    Market effect
    The rise in yields on US bonds has strengthened the US dollar index to weaken the GBP / USD pair in the future.

    Attachment 336179[/CENTER]

    The attachment
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    Greetings to our dear traders and speculators who are here in the forum!

    What does the pound/dollar pair have in store for us?

    The new trading week began with the price growth. Currently, the pair successfully ascended a bit to the level of 1.4027, which is a good area for them. In the H1 chart, it was seen how the price rebounded from the median deviation of the Bollinger Bands and updated the high of 1.4028. Today, it is believed that a bearish candlestick will start to form for price correction. And after reaching the price level of 1.4050, it is possible that we will decline.

    Name: gyt.png Views: 35 Size: 66.1 KB

    As for the daily chart, we will get a good point to enter sales, as there is no entry point on the hourly chart. Here, the pair is extremely overbought. Therefore, we should expect a correction to sell the pair, but entry points are not visible yet. There are no candlestick patterns that would help you to enter at a favorable price and so, we should just expect its formation in the near future. If this is realized, we should consider the resistance level of 1.4320 as a good level, since the price made a reversal there a few times and it was the 2017 high.

    The downward correction is expected to be at least within the framework of a pullback. A pullback on the higher time frames is assumed to be 1.3800, which is not a few 300 points. The lower line of the bands is located in the area of 1.3550.

    Name: gu6yt.png Views: 19 Size: 80.4 KB

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    Hi!

    Name: 1.png Views: 912 Size: 111.0 KB
    GBP/USD on M15 chart

    The pound keeps extending its rally, which was confirmed in the Friday session.

    Today, the levels indicator has been formed again without the mandatory zone, so its difficult to define the daily sentiment. Todays daily balance is almost at the same level as it was on Friday. This means that further uptrend may be limited. However, the pound may surprise us. We can also observe a narrowing options channel. The daily balance gives us a short signal which I expected to see on Friday.

    According to the Kryptex trading system, the situation is favorable for opening short positions. The power indicator is blue, while the 1.3 filters have turned green (this scenario is riskier). Todays short signal is the second one confirmed by these indicators.

    Name: 2.png Views: 70 Size: 91.6 KB
    GBP/USD M1 chart

    Meanwhile, the Runo ST trading system shows a clear buy trend as all the filters are blue.

    Given these factors, we can consider going short from the daily balance as there is a pending sell order at 1.4039. The stop loss should be set above the daily high. The first target will be the lower boundary of the channel at 1.3986 while the second one is seen at 1.3890 where the price has broken through the balance level from February 18, 2021. In case the Runo R indicator shows a buy signal, this scenario will be cancelled. Then, I will open short positions according to the Runo ST system.

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

    Lets discuss the current situation the pound/dollar currency pair:

    On Tuesday, February 23, it can be seen that the British currency continues to develop an upward trend against the US currency during its trading. Here, the price of this pair makes a movement within the borders of the ascending channel, and at the same time, updates the price maximums within the channel. At the moment, it can be noticed that it is trading almost under the resistance level of this price channel, or to be more exact, then around the price level of 1.4060, which is located almost at the top of it. We dont know what will happen yet, as things might be unpredictable. Therefore, we will continue to carefully monitor the current situation of this pair and see how it will turns out.

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    I welcome everyone.
    The last daily candle in this pair of currencies had a close higher than the previous close that's why a bullish candle was formed.
    The trading session yesterday in the GBPUSD completed the pair at the price level of 1.40596.
    The price value obtained during the daily increase of this currency pair, marked yesterday is located closer to the upper line of the daily Bollinger indicator.
    On the Stochastic indicator of the daily period, the pair has already entered the overbought zone.
    If the maximum price mark on February 22 will exceed the price, it will be considered as a level, after exceeding which the pair's rise may continue.
    At the same time, if the price goes below the minimum price value of the same trading day: 1.39793, the downward movement may continue.

    Name: GBPUSDDaily.png Views: 14 Size: 19.8 KB

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    The pound is growing at a faster pace than the other majors. As of today, the price has increased to 1.4080. A triangle has formed and a breakdown of the specified level will add a lot to the pound - another 30 points, and this is the 41st figure. As for the euro, the growth can continue without any special corrections, since the false withdrawal apparently scored enough stowaways yesterday.

    Name: 2021-02-23 FP4.png Views: 14 Size: 50.2 KB

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    Name: 1 (1).png Views: 1079 Size: 108.1 KB
    GBP/USD on M15 chart
    The pound continues to develop its rally and keeps moving steadily up. So far, all indicators confirm the uptrend.

    The levels indicator has finally formed the mandatory zone that wasnt there for two days. The location of the mandatory zone also confirms the buy trend on the pound as it is set below the price level. GBP/USD may start a downward correction to the mandatory zone at 1.4016/1.3976. From there, it may move up towards the daily balance at 1.4058 and the upper boundary of the options channel at 1.4133.

    The fact that the daily balance is located between the mandatory zone and the GBP/USD price level may stop the pair from moving lower to the mandatory zone. I also noticed that after a long absence of the mandatory zone, the price doesnt necessarily reach the first one that appears.

    Name: 2.png Views: 29 Size: 120.2 KB
    GBP/USD on M15 chart

    According to the Kryptex trading system, the indicators confirm short positions (unlike the levels indicator and Runo ST filters). The power indicator is blue, while the 1.3 filter is green (risky scenario). Short pullbacks are possible in the case of sell signals.

    Name: 3.png Views: 29 Size: 70.0 KB
    GBP/USD M1 chart
    The Runo ST shows a clear signal for the continuation of the buying trend. All the filters are blue. When the Runo R indicator generates a signal, I will place long positions. I mean, the expert advisor will do that.

    Though trading on financial markets involves high risk, it can still generate extra income in case 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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    Name: GBPUSDH1_eng.png Views: 590 Size: 98.4 KB

    Recently, the sterling has been trading according to the principle, Conquer another peak that will open the door to higher highs. So, I was misled by the pounds dynamic.

    Name: GBPUSDM15_eng.png Views: 130 Size: 83.4 KB

    1-hour chart for GBP/USD. Nearly 50 pips are left before the Wedge pattern is eventually broken. A 4-hour and 1-hour chars reveal terrible divergences. Ive got stuck with my wave layouts. I mean, I lack any ideas about how to trade the pair upwards. When it comes to the beginning of a downtrend, first, the price needs to breach yesterdays low that hasnt happened yet. So, my new wave layout is still in progress. Besides, I dont see any opportunities for locking in profits.

    Name: EURGBPH1_eng.png Views: 127 Size: 75.6 KB

    15-minute chart for GBP/USD. Yesterday, the pairs growth again consisted of three waves. The only thing Im pleased about is a breakout of the local low. It could be a precondition for a trend reversal, but its too early to speak about it.

    1-hour chart for EUR/GBP. Meanwhile, the price is plotting another Wedge pattern. I hope it will be final this time.

    Name: GBPJPYH1_eng.png Views: 671 Size: 84.1 KB

    1-hour chart for GBP/JPY. Once the price has formed the Wedge pattern, the pair is making a shy attempt to start a downward correction. I want this to be confirmed today.

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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:

    First, we have here the weekly time frame. All the target levels were broken through. There is no doubt that this is possible, but the channels also suffered. Looking at the chart below, the level of 1.4240, as well as the 43rd mark, can be seen. Most likely, we will move to these levels as they are already near.

    Name: xder.png Views: 32 Size: 224.5 KB

    As for the hourly time frame, we expect the pair to make a downward movement, with the target of 1.4040. Near this level, we have the range of 1.4080 - 1.4060. Considering that we got fortunate, the price can move further below towards the 40th figure or 1.3985 (1.3990). It would be even better further if we jump down to 1.3950 - 1.3930. However, there are just some trading plans. If not, we can also consider the upper targets located at 1.4122-1.4130.

    Name: fyrt.png Views: 29 Size: 254.6 KB

    Best of luck to all of you!

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    Greetings to our dear traders and speculators who are here in the forum!

    What does the GBP/USD pair have in store for us?

    It is interesting how the pound continues to strengthen despite the restrictions and lockdowns caused by the pandemic. However, it is fair to say that in times like this, we should not consider it as a sign of strength of the National Bank or the country as a whole. The fact is that the pound can start a completely different rally in the near future.

    In the context of post-Brexit Britain, the United Kingdom will be much more profitable to have a cheap pound, as they will now conclude international treaties and trade agreements themselves. So, the increase in its value will be associated with additional demand for it, namely from future trading partners for mutual settlements.

    Now, the question arises: how much the pound benefits from a high rate? It is possible that their price is above 1.4000 level, or even more 1.43-1.45, which is a bad deal. And maybe, this is why there is no strong impulse for rapid growth. For now, the price is just on the sidelines. Will it move to the level of 1.3700 when March starts? Well see.

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    The pound continues to strengthen actively. Yesterday, as a result of the growth, we were able to reach the important resistance level at 1.4115, and today we issued a breakdown without any problems. Moreover, the powerful buyback that followed quite recently during which we were able to peak at 1.4243, while the volumes accompanying this growth, were simply huge for the Asian session. And this is starting to indicate some thoughts that are not good for bulls. This is very much like the culmination of purchase. Here, you will find a powerful movement with updating local highs, a very large volume, and the first signs of a resumption of sales. As a matter of fact, today will be decisive. Either we will really get the prerequisites for a deep downward correction, which can turn into a reversal, or buyers will finally knock all bears out of the market and further strengthening of the pound awaits us. So far, I'm leaning towards the first option.

    Name: 2021-02-24 FP1.jpg Views: 25 Size: 171.0 KB

    My priority is selling, ergo, today I will wait for the pair to try to resume the decline towards the targets at the recently broken support level around 1.4115. After that, I will have to closely monitor this level, if we manage to pass below it, then we can fully enter large sales.

    Though trading on financial markets involves high risk, it can still generate extra income in case 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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