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    Page 93 of 97 ... 88 91 92 93 94 95 ...
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    Thread: GBP/USD (part 58)

    1. #921
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      Hello, everyone!

      Today is Wednesday and that already means a lot: something is going to happen, either a breakthrough or a price slump. The day’s balance is at the level of 2224 (a nice one) and the price hit it tonight. So, now I’m not sure whether the pattern of SvS is going to indicate price growth or the price has already been there.
      The mandatory zone went lower and now it is at 2264-84 where we should consider whether to buy or sell. The low of the day is at 2125 and it serves as a second boundary today.
      So, the prevailing scenario for today is trading around the day’s balance or moving upwards.
      Another option is to go downwards and close the open deals at the 21st figure.

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      The global situation has also influenced my indices. On the one hand, they have taken an upward trajectory which indicates that bulls are still gaining ground. On the other hand, yesterday they have passed the lower border where it is a good idea to place long deals now.
      We observed the same situation last week, with the price growth to the 24th figure. The price has moved half downwards and hit the low yesterday. I think we should go back to the level of 2299 and open long deals there. Whether to sell or to fix the price is up to you.

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    2. #922
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      Greetings to our fellow traders and speculators who are here in the forum!

      Here’s the chart for the pound/dollar currency pair:

      According to the hourly chart (H1), GBP/USD currency pair attempted to break through the upper boundary of the downward trading channel yesterday, however it rebounded. At the moment, it is trying to overcome the level of resistance 1.2230. Therefore, indicators are currently signaling the likelihood of buying a pair to the level of resistance 1.2264 to the upper boundary of the channel. On the other hand, the levels of 1.2170 and 1.2136 are considered to be our support levels for today.

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    4. #923
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      As far as I see it, this pattern on the chart is an inverted hammer at the local low. It is likely to indicate the slowing downward trend and the first bearish move. As it happened just recently, it indicated the trend so it was possible to see what came next.

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      Speaking about the levels, the day’s balance has gone lower to 2206 but still serves as a support level. The target is set at the 2232-54 in the mandatory zone. The price can either trade flat in the zone or return to the balance level, or it can test the yesterday’s spike pattern. This spike is the main target for growth now. It may also be a point for trend reversal and the upper boundary of the option channel. For me it is important to enter into the 23rd figure and stay there.

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    5. #924
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      The GBPUSD pair offers quiet positive trading, and is still influenced by the positivity of Stochastic, but since the price is below 1.2295, our bearish outlook will remain valid for today, supported by SMA 50, noting that we are waiting to visit 1.2100 as the next major stop.

      Expected trading range for today is between 1.2120 support and 1.2295 resistance

      Expected trend for today: BearishName:  AjaxGetImage (3).png
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    6. #925
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      Welcome to the forum everyone!

      A strong upward movement was shown by the pound/dollar currency pair yesterday. A correction was only expected, but it seems to be that the buyers overdid it. Therefore, the price successfully broke through the lower boundary of the channel and was found trading around the range at the upper boundary of 1.25013. At present, for the GBP/USD pair, it shows how the price moved back to the trading range 1.25013 - 1.22485 and is currently trading in this zone. Now, considering that the price reaches either the upper or lower boundary of the range and depart from it, a signal is likely to be formed as an entry point. The goal of which can be the contradicting boundary of the channel. On the other hand, in case that the price move beyond the boundaries of this range and consolidate over it, testing from the outside of the boundary of the range and identifying the entry point with the priority of price movement towards breaking through should be expected. The technical indicators, in turn, is fully supporting the continuation of the upward movement of the pair due to the fact that recommendations for active buyers are found. In principle, we should expect the price of the pair to move at the upper boundary which is located at 1.25013.

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    7. #926
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      So, here is the pound.

      After the price has surged by almost 300 pips, the second such move is the only way possible. I’m kidding, of course, but who knows… Especially when the levels indicators suggest such a turn. As there is no mandatory zone, a reversal trend is highly likely (although we just saw it yesterday). Another scenario - the trend gains momentum, and this is after yesterday’s spike of 250 pips!
      As for me, I’ll go for the third option and will trade in a flat around the day’s balance at 2444 (a nice combination). This is a good place for the price to move sideways. The high of the day is at 2573 and the day’s low is at 2306 where yesterday I placed my long deals.(the price broke the option channel border and now we need to return to this breakpoint).
      By the way, the current liquidity ratio (the level for reversal trend) is at 2196, so only below that point the change of the trajectory is possible. For now, the bulls can trade actively on this positive
      note.

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      Otherwise, the pound was trading moderately yesterday, and the bears even placed stop loss and were stuck at some point. So, I ‘ll wait till the bears regain ground.
      I am waiting for the price to reach the level of 2370, will fix my short deals and then buy again.

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    8. #927
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      I had expected the pound to go up yesterday, but it still surprised me.
      Let’s first start with the euro which I still keep buying, although there are already signs for correctional trend. I suggest that today the price will follow the blue scenario on the chart. Otherwise, it may follow the red pattern making a slight correction and entering the mandatory zone. But given the current filters, the price is very likely to slowly move towards the mandatory zone and from there return to growth. On the other hand, the price can move downwards quickly breaking through the mandatory zone. Moreover, we have a target from October 3 which has not yet been tested. So, it’s a good idea to place stop loss correctly.

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    9. #928
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      Hello, dear speculator.

      Yesterday, I did not conduct trading at all. I was busy and missed the whole trading day. The pair is now highly vulnerable to the fundamental factors, especially to the situation regarding Brexit. And when there are significant news, the technical analysis is not useful.

      The pound jumped by the most in seven months following yesterday's positive meeting between UK Prime Minister Boris Johnson and Irish Premier Leo Varadkar, who informed they could see a pathway to a potential deal.
      Now let's consider the way to work for today. From a technical point of view, the top levels are now more relevant than ever before. At the same time, it is too expensive to buy, while sales seem to be risky.

      Nevertheless, the pair will trade on yesterday’s fundamental news today.

      Open Interest:

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      There have been no major changes in OI. But .. The intraday turnover has reached the highest level in a month.

      In fact, I’m not surprised that there is no increase in open interest, as yesterday, amid momentum, we could see from the delta both sales and purchases of the pound sterling.

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      Now there is a very aggressive buy formation. Buyers are very strong. Amid the momentum, there have been limit purchases as well, which are highlighted. These are our areas of SR. Today, we can plan our movement on the basis of them. However, there is no guarantee that we will be allowed to make a correction today.

      My trading idea for today involves long deals from the lower buyer of 1.2420. This is the first level of SR.

      According to the trend, there will hardly be momentum today. So, I do not expect significant movements, because after such spikes, the price usually pulls back .. or it is held within the range. So, the price is likely to move in a narrow range hitting new highs. At the upper levels, there is a huge number of intraday SR levels, which are to be corrected.

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    10. #929
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      i think next few hour Gbp/usd trend is bearish i hope more down 1.2900

      Current price is : 1.2955


      Resistance 1: 1.2955
      Resistance 2: 1.2990
      Resistance 3: 1.3015

      Support 1: 1.2900
      Support 2: 1.2850
      Support 3: 1.2800


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    12. #930
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      I was following this GBP/USD pair so closely and i was 100% sure that GBP/USD will arrive this week in the start of the week it was slow and moving between some short ranges but from yesterday i was looking for the buy entry but as the market moved there were so many entries which should have give easily 50 to 100 pips profit if you had gone with the buy order at 1.23,1.24 or even 1.25 you must have claimed some healthy amount of profit from the markets this was most successful week for the GBP in sense growing and absorbing the buy pressure now currently market is over bought according to my point of view i usually work through RSI which i going above the 70 point and it has left no clue for me to understand the market further what will the price dealing next week.


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