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Gbpusdforcast

GBPUSD → Will We Reject Here!? A Potential Drop to 1.21!GBPUSD has made contact with the resistance zone, as predicted from last week's analysis. We're now faced with a decision to short or wait on the sidelines for more price action. How do we trade this? 🤔 It is not reasonable to short just yet because we do not have a sell signal! We're currently at the resistance level but without a confirmation of rejection, there is no justification to short without imposing too much risk. Enter after another sell signal, then 1:2 risk ratio down to the bottom of the trading range around 1.22000. If the price breaks resistance, wait for it to confirm support on the resistance zone then look for a long entry off of a bull signal and confirmation bar. 💡 Trade Idea 💡 Short Entry: 1.26670 🟥 Stop Loss: 1.29000 ✅ Take Profit: 1.22000 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Trading Range after Bull Run, Bias to Long. 2. Price Currently at Resistance Zone, Look for a Reversal Signal. 3. If Shorting, Watch the 200EMA for Support. 4. If Break Resistance, wait for New Support Confirmation. 5. RSI near 70.00, Bias to Short. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Short
by TraderEngineering
GBPUSD LongTime Frame: 4H Symbol: GBPUSD Entry: 1.22285 TP: 1.23210 SL: 1.21673 Bias: Long GBP/USD is the forex ticker that shows the worth of the English Pound against the US Dollar. It lets merchants know the number of US Dollars that are expected to purchase an English Pound. The Pound-Dollar is one of the most seasoned and most broadly exchanged money matches on the planet. Follow the live GBP/USD rate with the outline and stay up with the latest with Pound-Dollar news and investigation. Plan your exchanges with the GBP/USD conjecture and key turn focuses information and backing and opposition levels.
Long
by NationForexSignals
GBPUSD | Perspective for the new weekDespite the GBP showing signs of weakness during last week trading session as it keeps rejecting the $1.4000 level and dipped as low as $1.3880; I continue to root for Bullish expectations for the Pound across her major pairs in the coming week(s). Even as the Greenback was in the driving seat in the markets on Friday - a result of higher US bond yields, I suspect that the current structure at this juncture in the market supports a rally in the nearest future. Tendency: Uptrend ( Bullish ) Structure: Breakdown/Breakdown | Supply & Demand | Reversal pattern (Inverse H & S) Observation: i. Since the successful Breakout of my Key level on the 19th of February 2021; Sellers have hijacked and kept the price under $1.40000 as we have witnessed multiple rejections of this zone in the last 16 days. ii. It is also very obvious that the price has been caught within the Channel $1.37800/1.40000 since late last month (February 2021) hereby throwing participants into a long phase of indecision. iii. The drop from the peak @ $1.42420 (Leg XA) has transposed into an Inverse Head & Shoulder look-a-like - strong reversal pattern within the channel. iv. Considering the Bullish tendency from a longterm perspective (see weekly chart), I am of the opinion that we are presently experiencing a corrective phase of the last Breakout(19th Feb 2021) and a rally might be at the corner! But when? v. Even though my Buy can be coming in anywhere above the Demand zone, a viable confirmation to join the rally might be waiting for the majority at the Breakout/Retest of the Key level @ $1.40000 in the coming week(s)... Stay tuned in! :) Trading plan: BUY confirmation with a minimum potential profit of 300 pips. Risk/Reward : 1:3.5 Potential Duration: 8 to 15 days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
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