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    Thread: GBP/USD (part 58)

    1. #2071 Collapse Post
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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:

      Its interesting how everything is changing. There were too many losses during the past weeks because of the pounds decline, but now, there is a reversal movement, from which the pound gives many traders nice profit. A reversal was expected to happen, but the decline, of course, went to the final and daily stage of the trend. A line was drawn, and the growth continues not only on the four-hour (H4) trend, but also on the daily one.

      On the other hand, no divergences in the markets strength indicator was found. Thus, it is unnecessary to fear pullbacks or ascend against the daily trend immediately. The channel demonstrates an upward movement, this indicates that it is not needed to sell from the maximums. In contrast, the upper boundary was broken through and thus, we will only increase. Things in the market are quite chaotic right now, the pound/dollar currency pair will regain its position in the trend soon. We return to the level of 1.260, and we will move at least another 200 points. We will simply update the maximums and break through the level of 1.280 until the reversal signal shows on the RSI. Meanwhile, there is no reversal for sales, since the pound has much strength. There are several traders that didnt understand why the currency pair was sold, because there is a divergence and real volumes of interested large bears. It is obvious that there is more of a struggle with the euro for power over the market. Here, you can still follow the trend and collect stops at the highs. New bears are coming against the market, and everything is heading towards this.

      Name: rggj.png Views: 23 Size: 112.3 KB


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      2020-07-09   11:43
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      Trading levels for July 9.
      All recommendations are based on the indicator signals of the pivot point and buy/sell levels. On GBPUSD, I think the price will break through the support level at 1.2610. Otherwise, the pair will rise to the level of 1.2760 and above. If the pair breaks through the support and settles below it, then it will move down to 1.2520 or lower.
      The Pivot point is set at the level of 1.2579. The trading levels for today are marked with the color lines on the chart (blue lines - for buy levels, red lines - for sell levels).
      M15 time frame
      Attachment 226176
      The levels given by this indicator are 90% relevant.

      The attachment
      2020-07-06   10:16
      Best post today #2
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      Hello, dear forumers!
      So far, the price has failed to break through the resistance level, although it made several attempts to push through it. Yet, the bears were strong enough, and the price reversed to the downside. The level of support was also strong. So, at the moment the pair is trading sideways in the narrow range. It is probably gaining liquidity there. As I see it, the uptrend remains in place and there are no reasons for it to stop. The bears are rather weak now and have nothing to show against the bulls.
      Lets check the flat boundaries of the GBP/USD pair and see various options of price movements.
      The price may continue the uptrend only if it manages to break through the resistance level of 1.2525. When it settles above this mark, it has a good chance of moving further upwards. Still, the bears remain active and keep their ground, so the price is likely to pull back and return to the lower boundary at 1.2457. In case the price passes through this level, the uptrend will stop and the pair will start moving to the downside. Otherwise, the price could stay flat for a while.
      Attachment 223874
      So far, all the factors signal the rise of the pound/dollar pair. So today long positions remain a priority. To open a deal, you should wait for the pair to break through the resistance level. If the price pulls back, place positions from the lower boundary of the flat channel.
      Have a good day and successful trading!

      The attachment
      2020-07-08   10:42
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      Hello, dear forumers!
      The level of resistance turned out to be rather strong which sent the price back to trade in the sideways channel. This indicates the lack of liquidity for further movement. The bears have stopped the price from moving higher. Yet, the bulls are also strong and keep the pair from edging lower. Currently, the uptrend prevails on the pound/dollar pair. The strong bullish momentum signals that the price is likely to continue its upward movement.
      On the GBP/USD chart, we can check possible scenarios of the price movements.
      The price is sure to rise further if it manages to break through the level of resistance at 1.2588. Then it should settle firmly above this mark. Only after that can we expect any further uptrend. If the bears are too active, the price will head to the level of support at 1.2525. In case the pair breaks through this level, it has no other choice but to continue the downward trend until it reaches the next key levels.
      Attachment 225372
      So far, the uptrend remains very strong. So it is still worth placing long positions.
      It is safer to open the deals after the breakout of the upper boundary of the channel. On the other hand, it can be more profitable to place positions after the price pulls back.
      Have a nice day and successful trading!

      The attachment
      2020-07-03   09:59
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      The pound/dollar pair is trading in the narrow range in the morning trade holding near the levels from yesterdays close. On Thursday, the pair moved slightly lower as the pound weakened against other major currencies. The cable eased amid the strengthening US dollar and the fact the trade talks between the EU and UK have been put on halt. The data on Services PMI in UK will be published at 8:30 GMT which can support the pound. In the first half of the day, the pair is likely to face a downward correction, but overall, Im expecting the uptrend to continue. GBP/USD is still following the bullish trend. A possible pivot point is seen at 1.2425. Im planning to place long positions above this mark with the targets at 1.2515 and 1.2565. Under a different scenario, the pair will start to decline, break through the level of 1.2425 and will settle there. Then, the pair may test the levels of 1.2405 and 1.2375.
      Attachment 221723

      The attachment
      2020-07-03   10:08
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      Greetings, dear traders!
      The bears are still strong, that is why we can see a downtrend on this pair. Once again, the price broke through the level of support and edged even lower. With such a strong bearish trend, I doubt that the bulls will gain ground. Therefore, the pair is likely to retreat further. On the chart, we can clearly see that the there is a downward movement, all short movements are alps pointing to the doanside. Yet, the reversal is possible at any time.
      Now, lets have a look at GBP/USD chart and define the support and resistance levels.
      The sellers just need to pass the level of 1.2436 to continue the downtrend.
      The price should settle below this level, otherwise after the false breakout the bulls will push it to the upper levels. The price will face resistance at 1.7473 and in case of breaking through it, the trend may reverse to the upside.
      Attachment 221726
      But so far, the downtrend prevails, so placing short positions is the best option. It is better to open the deals after the price breaks through the level of support. Otherwise, from the level of resistance if the price pulls back.
      I wish you many profitable trades!

      The attachment
      2020-07-09   09:55
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      The level of resistance stays rather strong, and the bulls are unable to break through it. At the moment, the pair is trading sideways in the narrow channel. The level of support remains firm as well, and the price returns to flat every time it tries to break through the support. Overall, on the pound/dollar pair the uptrend prevails. So far, the bearish momentum is not strong enough to reverse the price direction. Therefore, the upward movement is unlikely to stop.
      For more details on the price movements lets have a look on the GBP/USD chart.
      For the price to continue its uptrend, it should break through the resistance at 1.2650. The price should also settle firmly above this level. Then it will serve as a clear signal for further growth. In case the bears are active there, the price may pull back to the level of support at 1.2588. The breakthrough of this level will mean the trend reversal.
      Attachment 226105
      Currently, all the factors are signaling the continuation of the uptrend. So the long deals will be the best option.
      It is better to place positions when the price pulls back. However, after the breakthrough it is much safer to open the deals.
      I wish you great profits and small losses!

      The attachment
    5. #2072 Collapse Post
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      Good morning everyone!

      Using wave analysis, we can see that a bearish correction is brewing on the GBP / USD charts. This is what it looks like on the daily chart:
      Name: Screenshot_1.png Views: 23 Size: 203.2 KB

      As we can see, support will be at the level of 1.2434, targeting the level of 1.2820. The correction will take a zigzag pattern, with which the initial support is at 1.2510. The main target of the bearish correction is the level 1.2450 in the H4 chart.
      Name: Screenshot_2.png Views: 24 Size: 211.9 KB


    6. #2073 Collapse Post
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      Quote Originally Posted by Elliot_Trend     
      Hello, dear forumers!

      The level of resistance turned out to be rather strong which sent the price back to trade in the sideways channel. This indicates the lack of liquidity for further movement. The bears have stopped the price from moving higher. Yet, the bulls are also strong and keep the pair from edging lower. Currently, the uptrend prevails on the pound/dollar pair. The strong bullish momentum signals that the price is likely to continue its upward movement.

      On the GBP/USD chart, we can check possible scenarios of the price movements.

      The price is sure to rise further if it manages to break through the level of resistance at 1.2588. Then it should settle firmly above this mark. Only after that can we expect any further uptrend. If the bears are too active, the price will head to the level of support at 1.2525. In case the pair breaks through this level, it has no other choice but to continue the downward trend until it reaches the next key levels.

      Attachment 225372

      So far, the uptrend remains very strong. So it is still worth placing long positions.

      It is safer to open the deals after the breakout of the upper boundary of the channel. On the other hand, it can be more profitable to place positions after the price pulls back.

      Have a nice day and successful trading!
      Lets hope that all things will go well and buy that break of GBPUSD the US Dollar faces troubles from the Covid-19 wave two, so EURUSD and GBPUSD should see more gains.
      I prefer trading retracements too, they give better risk to reward and I don't like when the price runs without giving even a single pip for a cheaper price.


    7. #2074 Collapse Post
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      The level of resistance stays rather strong, and the bulls are unable to break through it. At the moment, the pair is trading sideways in the narrow channel. The level of support remains firm as well, and the price returns to flat every time it tries to break through the support. Overall, on the pound/dollar pair the uptrend prevails. So far, the bearish momentum is not strong enough to reverse the price direction. Therefore, the upward movement is unlikely to stop.

      For more details on the price movements lets have a look on the GBP/USD chart.

      For the price to continue its uptrend, it should break through the resistance at 1.2650. The price should also settle firmly above this level. Then it will serve as a clear signal for further growth. In case the bears are active there, the price may pull back to the level of support at 1.2588. The breakthrough of this level will mean the trend reversal.

      Name: Screenshot_5.png Views: 571 Size: 267.0 KB

      Currently, all the factors are signaling the continuation of the uptrend. So the long deals will be the best option.

      It is better to place positions when the price pulls back. However, after the breakthrough it is much safer to open the deals.

      I wish you great profits and small losses!


    8. #2075 Collapse Post
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      Hello and good day!

      The pair is currently trading in an upward trend and is seemingly aiming higher. But in order for this to succeed the pair needs to reach the level of 1.2665 and upon reaching this level aim at 1.2740 and update the maximum at 1.2805. The trading range for this day is at 1.2665 - 1.2610 of EMA20 with the support level of 1.2575 of EMA50. So far nothing significant is expected from the economic calendar news, thus we wait for further movements during the US trading session. Well, lets see what happens. I wish everyone success in trading and good profits ahead!

      Name: E.png Views: 16 Size: 12.4 KB


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      Trading levels for July 9.
      All recommendations are based on the indicator signals of the pivot point and buy/sell levels. On GBPUSD, I think the price will break through the support level at 1.2610. Otherwise, the pair will rise to the level of 1.2760 and above. If the pair breaks through the support and settles below it, then it will move down to 1.2520 or lower.

      The Pivot point is set at the level of 1.2579. The trading levels for today are marked with the color lines on the chart (blue lines - for buy levels, red lines - for sell levels).

      M15 time frame

      Name: GBPUSDM15.png Views: 406 Size: 252.6 KB

      The levels given by this indicator are 90% relevant.


    10. #2077 Collapse Post
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      The GBPUSD currency pair is showing positive dynamics and is trading at 1.2654. Technical indicators on the 4-hour chart indicate a likely growth: the Metro indicator lines are above the white line, the direction line is colored blue, the laguerre is rising above 0.75 and quotes are trading above the daily pivot. Resistance Levels: 1.2677, 1.2727. Support Levels: 1.2627, 1.2577. I consider long positions above the support level of 1.2627 with the target of 1.2677, 1.2727. An alternative scenario is relevant below the support level of 1.2627.
      Name: GBPUSD09072020.png Views: 7 Size: 155.0 KB


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      Hello
      The GBP/USD pair continued scaling higher through the first half of trading action on Thursday and jumped to fresh three-week tops, around the 1.2660-65 region in the last hour.
      Ichimoku analysis (1-day chart)for day 9/7/2020
      Tenken-Sen- 1.2458
      Kijun-Sen- 1.2531
      Relative Strength Index(14):61
      Stochastic oscillator (6.3.3) :86
      Ma 10:1.2472
      Apart from this, Thursday's positive momentum could further be attributed to some technical buying following the previous day's sustained breakthrough/closing above the 1.2600 mark. Hence, a subsequent move towards the very important 200-day SMA, around the 1.2695-1.2700 region, looks a distinct possibility.
      Supports Levels:
      S1:1.2538
      S2:1.2466
      S3:1.2424
      Resistance Levels
      R1:1.2653
      R2:1.2695
      R3:1.2767

      Good luck for all. Thanks

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      Quote Originally Posted by Elliot_Trend     
      The level of resistance stays rather strong, and the bulls are unable to break through it. At the moment, the pair is trading sideways in the narrow channel. The level of support remains firm as well, and the price returns to flat every time it tries to break through the support. Overall, on the pound/dollar pair the uptrend prevails. So far, the bearish momentum is not strong enough to reverse the price direction. Therefore, the upward movement is unlikely to stop.

      For more details on the price movements lets have a look on the GBP/USD chart.

      For the price to continue its uptrend, it should break through the resistance at 1.2650. The price should also settle firmly above this level. Then it will serve as a clear signal for further growth. In case the bears are active there, the price may pull back to the level of support at 1.2588. The breakthrough of this level will mean the trend reversal.

      Attachment 226105

      Currently, all the factors are signaling the continuation of the uptrend. So the long deals will be the best option.

      It is better to place positions when the price pulls back. However, after the breakthrough it is much safer to open the deals.

      I wish you great profits and small losses!
      The GBP/USD pair is still positive for the day, on its way to the fifth consecutive daily gains but it moved off highs. Earlier on Thursday, it climbed to 1.2669, the highest level in three weeks but then turned to the downside, falling to 1.2599, matching the Asian session low,as of writing, GBP/USD trades at 1.2625/30, modestly higher for the day. Cable pulled back amid a stronger US dollar. The greenback rose across the board as equity price sin Wall Street turned sharply to the downside after the US Supreme Court ruled that President Trump cannot block the release of his financial records to prosecutors.


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