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GBPUSD Channel Break confirms Bearish turn

Jignesh Publier 17 avr  dans #Trader's blog #Technicals #Gbpusd
The GBPUSD showed good upside in the month of March, however April has once again shown signs of bearishness.
The 4H Chart below provides an outlook
On the chart we see a clear break of the up channel. We are now potentially forming a down channel with two failures at new highs which make for a succession of lower highs.
Support at 1.4050 continues to offer value buying to bulls as the pair is supported on the monthly charts, as well as a monthly bullish engulfing candle in the month of March.
T…
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GBPUSD Making a Bullish Breakout ahead of Elections

Jignesh Publier 5 mai  dans #Trader's blog #Fundamentals #Technicals #Support #Trendline #Gbpusd #Channel
The British Pound has made a bullish break against the greenback in the last 1 week period. This may be on the back of some speculative positioning ahead of the election being held in the UK this week.
From a technical perspective, the pair is still largely looking bearish after breaking a significant Monthly Trendline as indicated in the Monthly chart below.
The pair was seen retesting that monthly trendline once again last week, with a sharp rejection. The Daily chart below shows strong sellin…
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3 Commentaires
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CommunitySupport 5 mai

Daytrader21 avatar
Daytrader21 7 mai

Really hard playing GBP around UK General Election as there is no directional beat so far, even thought the seasonal and the election cycle say down, I think it may want to go up, at least that is what short term price structure says. Most likely tomorrow's NFP report will be the catalyst for a break either side.

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Jignesh 7 mai

Agreed Daytrader21 The rejection from the Monthly Trendline would indicate bearish, at the same time the bullish break from the daily channel gives a different view.  I'm watching 1.5550, I think that level is pivotal to the upside if we see a breach.  Downside trades, I think there's better oppurtunties in pairs like GBPJPY

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