GBPUSD | New perspective

The U.S. dollar strengthened as Treasury yields pushed to new highs amidst the political chaos in the UK and the week retail sales from the month of September are not bringing confidence to the Pound Sterling. Despite sinking to the lowest level in recent times and looking at it from a technical standpoint I am of the opinion that bullish momentum could be triggered if the price breaks out of the supply zone at the $1.14000 area in the coming week.

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Handel aktiv:

With multiple rejections of the $1.14000 level by the sellers again, I will be looking at a breakdown/retest of the new neckline at $1.13000 for selling opportunities at least in the meantime as price action is been monitored.

Good morning

Handel aktiv:

Sellers struggle to gain traction in the last 24 hours, a bullish engulfing candle here will negate selling pressure as a breakout of the $1.14000 level will incite a bullish momentum

Good morning

Handel aktiv:

Will activities take us out of the sell position as buying pressure increases at the $1.12600 level?

Trade stängt: Stopp nått:

Stopped out in a loss as the price action breaks out of the important key level at the $1.14000 level after 3 weeks attempt from the buyers. So, lets see if the market will be presenting a second chance in the form of either a retest of structure or trend continuation pattern to join the potential rally.... Update coming up soon

Handel aktiv:

Since the successful breakoout of the $1.14000 level yesterday, we continue to lookout for a second opportunity to join the potential rally. However, it is worth noting here that the price has been caught within a channel and a breakout or breakdown of the channel will present a trading opportunity. We continue to wait....

Good morning

Handel aktiv:

During our live session today, we projected that price is likely going tol retest the structure at around $1.14850 to join the potential trend continuation. But with the current structure, it appears we might not be seeing this happen. However, a breakout/retest of the $1.16000 should incite a trend continuation.

Handel aktiv:

Move stop-loss accordingly to protect the current position against sudden reversal as we begin to notice buying traction for the US Dollar.

Handel aktiv:

Stop-loss moved to desired profit as selling appears at the $1.16500 level. The breakdown of the $1.16000 level is likely going to lead to a retracement in anticipation of a trend continuation.

Good mornign

Handel aktiv:

Price is yet to plunge into the buy zone. However, the identification of a reversal pattern above this buy zone could incite another wave of bullish momentum hence we look at the next structure at the $1.16000 level for buying opportunity - a breakout/retest shall confirm a trend continuation.

Handel aktiv:

After being taken out with roughly 100pips profit in the previous position, it appears the US Dollar is gaining traction as a reversal pattern is identified at the $1.1600 level so there is a neckline at the $1.15500 area to guide selling opportunities.

Good morning

Handel aktiv:

UPDATE

We have a signal

Handel aktiv:

Position secured