Market Analysis – September 23 GBPUSD price experienced a significant bullish breakout above the key resistance level of 1.30890 on August 23. Following this breakout, the price retraced to retest the zone, which has now turned into a strong support, further driving the ongoing bullish momentum. The upward movement from this newly formed demand zone […]
Market Analysis – July 16 GBPUSD bulls have successfully enforced a breakout from a symmetrical triangle on the daily chart. The bullish momentum was remarkable, highlighted by the appearance of the three white soldiers pattern just before and immediately after hitting the resistance trendline of the symmetrical triangle. GBPUSD Key Levels Demand Levels: 1.2860, 1.2390, […]
Market Analysis – July 2 GBPUSD price action formed a triple top pattern. The Stochastic indicator had signaled an oversold market well before the appearance of this triple top, establishing a bearish market direction in June. Since the onset of this downtrend, the price has declined by nearly 2%. GBPUSD Key Levels: Demand Levels: 1.2620, […]
Market Analysis – June 6 GBPUSD is poised for a short-term decline as the price approaches an overbought state. The RSI (Relative Strength Index) indicates that the market has been extremely bullish. A downward correction is therefore necessary, possibly giving more buyers the opportunity to enter from the discount zone. GBPUSD Significant Zones Supply Zones: […]
Market Analysis – May 29 The GBPUSD currency pair is approaching a pivotal point. It has reached the resistance trendline of a large symmetrical triangle pattern on the daily chart. Multiple technical indicators suggest a potential bullish breakout is imminent. This signals a continuation of the upward trend. GBPUSD Long-Term Trend: Bullish Over the past […]
Market Analysis – May 14 GBPUSD market structure has featured significant lower highs and higher lows since March 2023 on the daily chart. The price action has led to a symmetrical pattern on the daily chart. The trendline of the symmetrical triangle has been extended to help discern future swing highs and lows. GBPUSD Key […]
Market Analysis – April 29th The GBPUSD price is currently demonstrating an upward trajectory towards a fair value gap situated below the 1.2700 mark. This movement occurs amidst a prevailing downward trend evident within the market structure, notably initiated by a dip below the April swing low of 1.250. Key Levels for GBPUSD: Demand Levels: […]
Market Analysis – April 23rd GBPUSD market has recently undergone a notable shift towards bearish sentiment ,following a sustained period of upward price movement. This shift in market dynamics unfolded following a pivotal moment in September, characterized by the demand level of 1.2000, which emerged as a crucial turning point. Here, market participants witnessed the […]
Market Analysis – April 15th GBPUSD buyers fight back despite strong bearish sentiment. A few days ago, the bulls succumbed to bearish sentiment, causing the GBPUSD pair to break through the 1.25220 price zone. This level had previously served as a significant barrier for the buyers, but the sellers managed to pave their way through. […]
