Daily Technical Analysis

GBPUSD Analysis on Nov 2016: setting up long position

GBPUSD Analysis on Nov 2016: setting up long position

GBPUSD Analysis – Talking Points: GBPUSD Technical Strategy: Temporary bullish view Elliott wave Count: Either wave three or alternate wave C is due. Analysis GBPUSD (Great British pound vs US Dollar) is looking another high towards 1.2868 horizontal weekly resistance. also on smaller time frame, pound is suggesting another high in bullish count. This count can be either wave three or on alternate this could be wave C.

As we’ve 1st leg up was 5 wave impulse, we expect zigzag correction at least towards 1.2868. we’ll mark that move as reversal or correction on that resistance only. but looking for trading chance, we’ve nice long setup coming up. Action we ar looking for attractive level to go long on pound vs US dollar with limited stop loss.

GBPUSD Analysis

 

 In Other View Point – GPBUSD potential trades for the week

The main trend is downside. when we go for lower time-frame in the 4hours there’s a possible bat pattern , for my strategy i’ll wait for more confirmation like RSI OB or maybe AB=CD PATTERN . but also the price is created recently higher high higher close , and it indicate for potential continuation for the upside . and we will see in the four hours time-frame potential cypher pattern good trading week for everybody.

GBPUSD Analysis

In Another View Point – GBPUSD: Bullish & Bearish Advanced Pattern Formations

Here’s a look at the chart I went over in this week’s Forex market Preview video looking at 2 potential advanced pattern formations setting up on the GBPUSD. In RED is a potential bearish Advanced Bat Formations & in green is a potential bullish Advanced Gartley Formation good luck in the markets in the week & hopefully the new Pattern Assistant Tool can create trading a little easier for you.

GBPUSD Analysis

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Mohammad Riad

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  • GBP/USD Fundamental Analysis: November 29, 2016

    The GBP/USD pair was subject to downward pressure during the previous trading session as monthly cash flows combined with a slight increase in the USD triggered the pair to drop from its highs of 1.2500 to just below 1.2400 points. Every month, the market always expects added selling pressure for the GBP since the UK pays its EU membership fees every month. As a result, the value of the EUR/GBP increases, and the GBP becomes subject to significant losses.

    There are also some speculations that the Brexit process will be subject to a number of legal challenges which could cause the process to be delayed altogether, and the schedule of events for the Brexit process could possibly go haywire. The UK government is also questioning the decision of the High Court for a Parliament debate first before pushing through with the Brexit process, while the Parliament is already preparing for the said debate just in case that the High Court refuses to overrule its previous decision on the Brexit process. The strength of the GBP would definitely be affected by these expected delays in the Brexit process and could have an adverse effect on the UK economy in general.

    For today’s trading session, there is no major economic news expected from the UK. However, the US will be releasing its Advanced GDP data and this could increase the market volatility, with a consolidation possibly happening together with a bearish stance.

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