victoriajensen
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GBP/USD bounced off from 1.2750 after forming a shooting star candlestick and a pair of spinning top candlesticks on the four-hour time-frame below that resistance. Next target is likely 1.2700 again.
The GBP/USD, good technical round number levels
- Thread starter fxstrategist
- Start date
The British pound reported a volatile session against the US dollar on Monday. The currency pair lost only 11 pips at a closing price of 1.2722. Daytime extreme values were reached at 1.2759 and 1.2706 respectively. A more significant challenge for the couple in the downward direction is the 1.2700 level. A potential breakthrough will create the possibility of a prolonged decline.
British Pound / US Dollar-GBPUSD As of 27/06/17
*** Intra-Daily Trading Strategy:BUY British Pound / US Dollar
Buy Target: 1.2871
Enter New BUY on OPEN and exit BUY positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!
* Chaos Trading System
BUY signal generated today. ENTER BUYand exit sell at market price on the next Daily open.
A big bullish white candle has formed. Prices closed considerably higher than open. If the candle appears when prices are "low," it may be the first sign of a bottom. If it occurs when prices are rebounding off a support area, a moving average, trend line, or retracement level, the long white candle adds credibility to the support. Likewise, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
The previous 10 candlestick bars, there are 7 white candles versus 3 black candles with a net of 4 white candles.
The previous 50 candlestick bars, there are 29 white candles versus 21 black candles with a net of 8 white candles.
MACD is BULLISH as the MACD is above the signal line.
The MACD crossed above the signal line 0 day(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has been unchanged, and has been fluctuating from a high of 1.285 to a low of 1.272.
The MACD is currently not in an Overbought/Oversold range.
There have been no divergence signals during the last 5 periods.
No Stochastic Buy or Sell signals generated today. The last signal was a Buy19 Day(s) Ago.
The RSI is not currently in a topping (above 70) or bottoming (below 30) range. A buy or sell signal generated when the RSI moves out of an overbought/oversold area. The last signal was a Sell 41 day(s) ago.
The RSI has just reached its highest value in the last 14 day(s). This is BULLISHsignal.
Currently, the Momentum Oscillator does not show an overbought or oversold condition.
The last Directional Movement Indicators (DMI) signal was a SELL13 day(s) ago.
A SAR Buy signal generated today. If you are short, this might be a good place to exit.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
With strong confirmation from the short term-trend and a current Buy signal. The current market condition for British Pound / US Dollar is Very Bullish
British Pound / US Dollar closed below the upper Bollinger Band by 41.1%. Bollinger Bands are 28.09% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
*** Intra-Daily Trading Strategy:BUY British Pound / US Dollar
Buy Target: 1.2871
Enter New BUY on OPEN and exit BUY positions at Target price or at Stop price.
(NOTE: Adjust Stop Loss Price according to your trading risk.)
Do not reverse after exiting. This is a recommendation for INTRA-DAY TRADING only!!!!!
* Chaos Trading System
BUY signal generated today. ENTER BUYand exit sell at market price on the next Daily open.
A big bullish white candle has formed. Prices closed considerably higher than open. If the candle appears when prices are "low," it may be the first sign of a bottom. If it occurs when prices are rebounding off a support area, a moving average, trend line, or retracement level, the long white candle adds credibility to the support. Likewise, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
The previous 10 candlestick bars, there are 7 white candles versus 3 black candles with a net of 4 white candles.
The previous 50 candlestick bars, there are 29 white candles versus 21 black candles with a net of 8 white candles.
MACD is BULLISH as the MACD is above the signal line.
The MACD crossed above the signal line 0 day(s) ago. Since the MACD crossed the MACD moving average, British Pound / US Dollar's price has been unchanged, and has been fluctuating from a high of 1.285 to a low of 1.272.
The MACD is currently not in an Overbought/Oversold range.
There have been no divergence signals during the last 5 periods.
No Stochastic Buy or Sell signals generated today. The last signal was a Buy19 Day(s) Ago.
The RSI is not currently in a topping (above 70) or bottoming (below 30) range. A buy or sell signal generated when the RSI moves out of an overbought/oversold area. The last signal was a Sell 41 day(s) ago.
The RSI has just reached its highest value in the last 14 day(s). This is BULLISHsignal.
Currently, the Momentum Oscillator does not show an overbought or oversold condition.
The last Directional Movement Indicators (DMI) signal was a SELL13 day(s) ago.
A SAR Buy signal generated today. If you are short, this might be a good place to exit.
The close is currently
ABOVE its 200 daily moving average
ABOVE its 50 daily moving average
ABOVE its 20 daily moving average
With strong confirmation from the short term-trend and a current Buy signal. The current market condition for British Pound / US Dollar is Very Bullish
British Pound / US Dollar closed below the upper Bollinger Band by 41.1%. Bollinger Bands are 28.09% narrower than normal. The current width of the Bollinger Bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
victoriajensen
Private, 1st Class
- Messages
- 1,117
GBP/USD continues moving to the upside despite the signals for the opposite, likely due to fundamentals. The pair will probably soon test the last high at 1.2860 again.
The British pound was up against the US dollar on Friday. By the close of US trading, GBP/USD was trading at 1.3028, adding 0.16%. I believe that support is now at around 1.2703, Monday's low, and resistance is likely at 1.3030, the high of Friday's trading.
victoriajensen
Private, 1st Class
- Messages
- 1,117
GBP/USD is testing the support at 1.2915. A breakout below that level will probably lead to a further move to the downside towards 1.2850, which is the (MA)89 indicator on the four-hour time-frame.
The British pound recorded a volatile session against the US dollar on Monday. The currency pair opened at 1.3002 and finished 65 pips lower. If the direction goes down, the pair will probably break the first support at 1.2700. On the upside, the pound will move to resistance at 1.3090.
victoriajensen
Private, 1st Class
- Messages
- 1,117
The pair is testing the support at 1.2890 but even though it has not broken out below that level it is still very bearish, especially considering the hanging man candlestick that has formed on the daily time-frame at the resistance at 1.3030.
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