Here's' the four-hour (H4) chart for the pound/dollar currency pair:
During the previous day, the GBP/USD currency pair moved quickly to the level of 1.2900 after the decline. This is located at the lower boundary of the cloud, however, it failed to break through it and just had a false puncture instead. Moreover, there was no rebound that happened and this currency pair resumes to trade around this level. On the four-hour chart, the past candle was closed near the neutral, while the present one is being formed just as same. Now, letís look forward to seeing how the present candle will close in case that it gain a foothold at the top, probably at the levels of 1.2930-1.2950. From this area, a rebound as well as continuation of an increase is likely. On the contrary, if the upside will be cancelled, gaining a foothold below is necessary. In this event, a decline to the levels of 1.2870-1.2860 +/- is highly possible. Nevertheless, purchases are yet to be considered until the pair is trading under pressure from sellers.
Yesterday, the GBP/USD currency pair was not able to hold out at level 1.2945 to 1.2950 and then started to fall, this is after an upward trend for a long period of time. The pair also underwent a rebound to the level of 1.2920 where after that, a new upward trend has taken place. However, by evening, everything fell into place as the dollar recovered its positions to the levels of 1.2905 to 1.2910 and as of this moment, the flat continues to the following levels. Furthermore, observing a 30-minute timeframe, you will notice a sharp jump from this flat, where this jump might indicate favor of the dollar, although in so far, it is not yet enough to construct a conclusion. That is what we have for this day, in so far. Anyhow, may we all have a profitable day ahead!
Paraboloc SAR : BUY
The RSI is still on :BUY
StDev on BUY direction.
4hour time frame also telling these condtional exprations.
Indicator shows market going UP and technical Analysis same thing.
All technical and fandamantal follow the BUYing trends.
Note:Always Follow the making experienced with others having great knowledge about trading.
Today's economic calendar is bereft of the news from the United States, as they continue to celebrate Thanksgiving Day.
So, today, we will conduct trading without Americans.
Yesterday, the pound was put under pressure and was forced to go down, although there were buyers among traders.
It was almost possible to break through the lower border of the buyers' accumulation area, but the price slowed down and Europeans did nothing.
As a result, there is a rather interesting picture.
Now the price can go both up and down.
There is a sign that the price will stop growing. Now we need to get confirmation.
Firstly, in order to reduce, the price needs to hit a new low and go below the 29th figure.
Thus, we will be able to remove buyers and the way to profit will be open.
Secondly, the price needs to consolidate at the current levels or pull back to the top a little.
But if the price consolidates above 2930, the downtrend will be at risk. So, we need to monitor the situation in order to understand the further direction of the price.
According to the order book, the position ratio as for the pound shows that sellers have been stuck in a serious drawdown.
They constitute a majority, and the market is better off pulling them up... but not higher than 1.3000, although I think they will not be able to pull it higher, since there is an obstacle in the form of the upper option area. Moreover, this is the top of the sideways trend.
In general, it is still possible to make a slight upward movement, but not too far.
I think that Europeans alone can do nothing significant during this session.
today GBPUSD high 1.2928 and low price are 1.2878. After reaching a strong resistance line GBPUSD began to fall but i think the price will reach to strong level of 1.3 and until this level is broken i will only consider sales, open a sell from level 1.3 to level 1.2780
It appears that the present sentiment of the participants of the market is such that the majority of them anticipate the continuation of the increase of the pair. Based on the price chart, the price has been periodically updating its current highs lately, which is exactly what is happening at the local level. This is clearly confirmed by the recent dynamics of the price. Moreover, it is recommended to think about entering a correction considering such market environment. Thus, in case that you managed to catch above the trend, then a prerequisite should be at least 1 to 2-3 (ratio of profit to loss).
Now, regarding the trading, it can be observed that players are getting ready to buy and planning to enter the upside towards a quite important correction. Therefore, as suggested, this is the correct decision - to provide preference to purchases when there is a good upward price movement, that is, locally the price moves upside. On the other hand, pending orders are still not reached, nevertheless, it is not something to worry about since it just needs more time. The correction, in turn, will sooner or later happen, and then the levels of 38.20 as well as 50.00 will accomplish their roles that they were meant to do in this situation in the market.
Reminder: entry points in the Fibonacci transaction are located at 38.20 and 50.00. The limit on losses is just under the level of 61.80. In this particular situation, 38.20 (1.2700), 50.00 (1.2600).
This Monday, the market opened without any surprises where the GBP/USD currency pair is located between the levels of 2.990 and 2.830. And just as usual, from the typical Monday, expect no further and significant movements just yet, unless further news about the pound and the dollar.
Anyhow, in so far for this day, I havenít had any signs yet for entering the market, and I am still sitting on the fence, waiting. Meanwhile, in the medium-term, it is more likely to anticipate an upside movement, although for this to take place an upside correction is badly needed, so I am on standby for any. Well, that sums up my notion for this day so far. May we all have a profitable day ahead!
Letís take into consideration the currency pair pound/dollar:
For the buyers, the level of resistance is yet to be adjustable. They also did not managed to try breaking through this level. Therefore, in the meantime, the GBP/USD currency pair can be noticed trading within the side range. Meanwhile, the level of support is well maintained but unfortunately, as the pair attempted to break through its price, it moved back to the flat. Generally, the upward movement continue its trend and there are no grounds to halt the direction yet during this moment due to a clear manifestation of the weakness of the sellers, which cannot be opposed by anything important.
The details of the technical side of analysis of the euro/dollar pair is presented on the hourly (H1) chart.
Now, breaking through the level of resistance found on the level of 1.2949 should serve as a reason for the price increase of the pair. Considering that this will become successful, then it is necessary for the price to consolidate. After that, we can talk about increasing the quotes further. At the same time, considering that the activity of the sellers increased within this level, then there is a high probability that we will move down towards the level of support which is located in the price region of 1.2909. Following its breakdown, we will then continue moving down further below, likely for a deeper correction. Thus far, everything is pointing to the increase of the price, so purchases are considered to be a priority for this day. Positions, in turn, are worth opening either after the level of resistance has been broken through or if they pullback from the lower boundary.
Best of luck and have a profitable day to all of you!
I donít want to wait till the morning session. Besides, we already have new levels indicators, and the trade is going to open at the accumulation zone at the level of 2912.
There are two points to consider:
We see no mandatory zone which means that the price may either reverse or it can continue its growth from Friday
The price opened below the lower option boundary. This means that sales will start from the daily balance.
By the way, we see the daily balance at 2957 and this may actually be the point where the price stops rising. So, letís wait with long positions for a while and see how my existing short deals will work out.
Hi companions as I would see it today GBP/USD is looking bearish now as yesterday again it broke beneath the help level and after that it was making the bearish move.
Presently trust that the market will break the week after week low and afterward go for more sells so sell exchanges gives us income,so GBP/USD is clearing to make a trend for trading in the market.
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