what indicators do u reccommend?
im staying away from GBO for now. crypto trading in the meantime until markets settle
The range on the GBPUSD keeps shrinking and the descending triangle on the daily chart keeps taking shape. The 1.3000 level keeps acting as support and the 200 day and 55 day EMAs are confirming a sideways trend.
any suggestions for today gbpusd ???
GBP / USD. The trend is absent, since the Ishimoku lines are not built in order of the precedence of the periods. Tenkan crossed the Kijun upwards, which gives a signal to buy. Stochastic low, below the mark 20. So there is a great potential for upward movement.
Daily
The Elliot impulse wave analysis on GBPUSD approves my previous prediction. The ABC Elliot correction is forming and being a 4th part of 1D Elliot impulse wave. The level of 1.2750 is the current resistance level and I predict a falling to support of 1.2700 and then, the C part formation and growing to 1.2800. The support of 1.2450 will be the target for 5th Elliot impulse wave formation (Daily)
Iâm pretty sure that GBP / USD is heading towards Tenkan, at 1.2640. Stochastic out of the oversold zone. The trend is going down, but the upward correction should touch some level. The closest level is Tenkan. I advise you to buy a pair now.
GBP / USD will move up. GBP / USD is located above the lines Tenkan and Kijun. There is support, but no resistance. Stochastic dropped to nearly 20. All this indicates an upward movement in the near future. Daily
The currency market, also known as the âforexâ or âFXâ market, is the largest financial market in the world, with an average business volume of around 4 trillion dollars per day. The Forex Market consists of the simultaneous purchase of one currency and the sale of another. The currencies are at a floating exchange rate and are always exchanged in pairs, for example, EURO / DOLAR or DOLAR / YEN.
GBPUSD trying to offload some bears before the big drop
GBP / USD is moving in an uptrend trend on the H1 timeframe. However, the oscillators are already overbought. Somewhere here there will be a price reversal. It is only necessary to find the level to which the price is pulled up. Perhaps this is 1.2500.
Great From You, Thanks For your Post.
In My Opinion Buy Around 1.2500. But careful on any political update .
The earlier you focus on only technical analysis for trades, the better your trades will go. Leave the news for the market makers.
GBP / USD failed to consolidate above the Tenkan line. So in all likelihood will fall. Stochastic and rsi show something vague. Perhaps GBP / USD pending news. But still, I think the euro will pull GBP / USD down with it.
Daily
Iâm not going to post a chart right now (no time) but here is my two centsâŚ
GBP has shown no real desire to climb higher, although if you buy into seasonality then you would expect a leg up but I am not convinced.
My macro view on it is thisâŚBuy strength and sell weakness so for that reason I am short biased on cable. Problem is there isnât much downside before you hit a wall I mean look at cable on a weekly or monthly chart itâs at the bottom.
Now for DXY the dollar index shows continual strength and it is tuff to bet against the US economy. Now you could listen to the âgood folksâ over at CNN and how they are basically rooting for a depression but if you look at reality right now we hold a strong position globally and at the end of the day I believe âthe deal makerâ will solidify a trade deal with China. Look at japan⌠Trump is not unilateral he deals with countryâs case by case and I wouldnât be surprised if he doesnât come up with a trade deal with the UK. That in itself might bolster the Sterling.
So for me I would wait for the Fed to try and hurt Trump to be truly bearish on dollar and I am convinced they will try and tank the US economy by 2020.
If I see anything interesting I will post it but for me right now I am only interested in selling rallies until this mess gets sorted out.
BTW my views are subject to change at a moments notice. You have to be nimble in these markets an old timer from Singapore taught me that.
Well it looks like the dollar bulls are running. Cable is reaching lower. Not everyone is convinced so I expected a bounce this morning and I got it, HOWEVER I am still definitely bearish cable and bullish DXY
Weâll see what the week brings. I will not be taking any trades after Weds. do to NFP on friday.
first charts are cable second chart is dxy. Hard to bet against dollar with that kind of momentum.