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Dollarpound

USDGBP hitting down channel support | A good long opportunityIf we see the movement of price action US Dollar / Pound Sterling then it giving easy profits within the channel by hitting bollinger bands support and moving up even most of the times it is not hitting the channel's support but moving up after hitting the bollinger bands. But this time it is hitting the channel's support and the lower bands of bollinger bands both at a time moreover price action is also hitting the 50 simple moving average support, so this time the chances of bullish divergence are more stronger. MACD is still strong bearish and Stochastic is almost entered in oversold but did not give any bull cross sofar therefore I would suggest to wait for MACD to turn weak bearish from strong bearish or for stochastic bull cross then take the long position. I have used Fibonacci sequence to set the sell targets. Sell between: 0.81973 to 0.83048 Regards, Atif Akbar (moon333)
Long
by moon333
4
GBP/USD aims to pass medium patternThe British Pound passed through the support of the 62.30% Fibonacci retracement level to depreciate against the US Dollar to the 1.2848 mark. It is expected that the currency exchange rate will break the support of the medium pattern line at the 1.2845 mark to decline towards the weekly S2 at 1.2718. Besides, the 55-hour simple moving average is trying to catch up the rate to give additional resistance to the rate. On the other hand, the weekly S1 at 1.2831 could push the rate back to the pattern to trade sideways between the 62.30% Fibo and the bottom boundary of the medium pattern line.
by UnknownUnicorn890690
GBP/USD daily overviewThe British pound depreciated 0.89% against the US Dollar since Friday’s session. During the previous session, the rate passed the 55-hour and the 100-hour SMAs supports together with the 50.00% Fibo and the weekly PP level to stop the trade at the 1.3101 mark. On Monday, the British pound was located below the weekly PP at the 1.3127 mark. In regards to the near-term future, the currency exchange rate will trade sideways due to support of the 200-hour SMA and resistances of the significant technical indicators. Most likely, the rate will trade at the 1.3050 level during the day. However, today’s fundamentals could break the prediction for the currency pair!
Long
by UnknownUnicorn890690
1
GBP/USD daily overviewThe British pound appreciated 0.38 % against the US Dollar since Friday’s session. On Monday morning, the British pound returned in the pattern to trade at the 1.3077 mark. During Monday’s session, most likely, the rate will surge upwards to the 1.3080 level due to the support of the weekly pivot point at the 1.3055 mark and the 200-hour simple moving average. Moreover, the 55-hour simple moving average will catch the rate to give additional support for the currency pair to surge during the trading day.
Long
by UnknownUnicorn890690
Long on GBP/USD BUY BUY BUY !!!Reasons for -Firstly on 4 hour chart we clearly see a down trend which has been broken -We can also see price has broken major trend line which acted as RES -Since we made the low of around 1.41000 we have put in Higher highs and lower high -This signifies a possible new trend forming -Also if we look at the Trend line acting as Support we have had our second bounce On the daily we have been bullish for 4 days before a bearish candle was put in this may have been because of the FOMC meeting which took place Altho we do not have many confluence as id like i do believe its going to go long and my bias will remain bullish till we take out the previous lower high :) Trade safe and maintain a good Risk management strategy My entry 1.24500
Long
by ARFXC
16