GBP review

[volfixtrader]

Hi everybody

My last forecast about GBP was partly confirmed.

It was a good buy. Time to exit has not yet come. I recommend still hold long position. It's still hught possibility of achiving 1.565. Or the market should show sales.

Profits for all!

 

[Bumer]

I recommend still hold long position.

Sure!!!

GBPUSD formed a small negative day reversal after a brief 1,55 overshooting that failed however to confirm our s/t target. The closing was also still below the 100 days line, still resistance at 1,5489 and while below this line favour a correction toward 1,5380/70!!
The indicators of the daily chart are however still well positive awhile those of the s/t charts turned showing a mixed picture suggesting some consolidation/ correction. However only an hourly closing below 1,5415 will confirm a s/t top supporting a deeper correction with the 200 hours line at 1,5334 the possible attraction. The move up failed to form clear divergences but there just one.
I favour another test on the downside that and expect to be a new buying opportunity but only close to the 200 hours line!!!

 

[volfixtrader]

Hi Bumer

the price can turn in the opposite direction. And we don't always achieve our goals. But you're right. Should something happen to turn price down. In my analisys it's significant amounts below 1.535.

 

[fxstrategist]

Gbpusd

The Pound versus the Dollar has found a good resistance around the 1.5500 level. It would take some really good news out of the UK for it to break above that level or some really bad news out of the US to do so.

 

[KATHRIN]

hello)
had this kind of trade

 

[volfixtrader]

hello)
had this kind of trade

Hi Kathrine

Good trade for short period. It was support due to the previous volume. This is clearly seen in the cluster profile.

 

[Bumer]

The pair confirmed a positive closing, above the 200 days line, while remaining however interior Friday’s range forming a new inside day with 1,5430 – 1,5295 the levels to follow in the coming hours. While above the 200 days line the pair favor a recovery!!
The indicators of the daily chart are still above the line for now while those of the s/t charts are instead still showing a mixed picture suggesting further consolidation/ correction with the 200 hours line at 1,5422 the possible attraction.
I waiting for a decent rebound to sell, but with attention. The pair already confirmed the potential target of the triple top and found momentarily support above the support line; on top of that the last divergences it formed where not so clear!!!!

 

[volfixtrader]

So

Now we are below big volume which accumulated during last week. I recomend close all long position if you have. Now we decrease till volume area of end of Sep.


To explain my view. I make forecast based on Volume analisys. And volume analisys is shows that consolidation area which was from 15 Oct till 22. Oct removed all buyers. Growth of 14 Oct was the last of day when Big Players go out from the pair. On Cluster Chart we see that Delta was negative despite the strong growth. It was start of the end of bullish movement.

 

[Bumer]

The pair confirmed on Friday a strong closing well above the 200 days line, now again support at 1,5341! The weekly as well as the monthly closings were positive supporting further strength.
The indicators of the daily chart are again well positive as well as those of the weekly one supporting higher levels; only those of the monthly chart remain below the line. The indicators of the s/t charts are still in positive territory supporting further strength; however, in the s/t have overbought conditions while showing potential negative reversals. The hourly RSI went however well above the 75% level, well into the range of a bullish scenery, failing however to form divergences.
I suggest waiting for a possible retracement toward the 200 hours line, now found at 1,5357, to buy!!

 

[Bumer]

Trade idea sell at 1.5240, stop above 1.5342 for 1.5030. Resistance moves to 1.5240 initially, then 1.5311 with 1.5337/42 expected to cap to keep the bias immediate lower.

 

[gerryg]

Trade idea sell at 1.5240, stop above 1.5342 for 1.5030. Resistance moves to 1.5240 initially, then 1.5311 with 1.5337/42 expected to cap to keep the bias immediate lower.

Good idea but what about fundamental factors supporting GBP (or EUR)? QE easing? Some PMI data? I'm not good at setting swing positions but with current instability want to give it a try.Please advice..

 

[volfixtrader]

Trade idea sell at 1.5240, stop above 1.5342 for 1.5030. Resistance moves to 1.5240 initially, then 1.5311 with 1.5337/42 expected to cap to keep the bias immediate lower.

Good level for short if you had opened a position. It's important level of annual accumulation.


1,5045 - nearest target.

 

[volfixtrader]

As I told we achieve a target.
Now an opportunity buy GBP from 1.508-1.507 with the nearest target 1.5225. It's could be danger!!!

 

[fxstrategist]

The Pound

The Pound was somehow volatile for today, but tomorrow with the GDP numbers out of the UK, the Pound may take a clear direction.

 

[arigoldman]

It seems it's strong to the upside.