Jump to content

Looking for rallies to be sold in GBPUSD


PIA_First_IC

Recommended Posts

Looking for rallies to be limited in GBPUSD this week with the medium-term bias switching to negative on selling rallies.  

 

Monthly: Likely to post two Inside Harami candles, a clear sign of investor indecision.

IG GBPUSD M.png

 

Weekly:  Moving higher in a bullish channel formation. Although we have reacted lower from the 50% pullback level of 1.4346 (from 1.7192-1.1500) there is no clear reversal formation and dips continued to find buyers. Trend line resistance is currently situated at 1.4554. Bespoke resistance is seen at 1.4406, just above the previous high. We look for this level to hold back buying.

 

Daily: We have seen a reaction lower from the 161.8% extension of 1.4168 (from 1.3710-1.4168). If GBPUSD breaks the previous high we are likely to see bearish divergence, the oscillator making a lower high (while the price makes a higher high), often a sign of exhaustion.

IG GBPUSD D.png

 

We are looking at selling at 1.4400, stop 1.4600, with a target at 1.3810

 

In regards to the PIA analysis, no representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result.

 

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • image.png

  • Posts

    • Recently, U.S. Senator Bill Hagerty from Tennessee spoke at the Bitcoin conference, stating his efforts to push for Bitcoin-supportive legislation to promote freedom and opportunity. This year, cryptocurrency has become a key battleground in the election campaigns. It remains to be seen whether future policies on cryptocurrency will improve.
    • The digital landscape is undergoing a profound transformation as attention, once a freely given commodity, is increasingly recognized as a valuable asset. Layer3 is at the forefront of this revolution, pioneering a new economy where attention can be owned, traded, and monetized   This innovative approach empowers individuals to monetize their engagement, providing unprecedented control over personal data. Simultaneously, advertisers benefit from transparent metrics that optimize campaign performance. Content creators are presented with diverse revenue avenues beyond traditional advertising, while the overall ecosystem experiences a more equitable distribution of value.   The implications of Layer3 extend across various sectors. Social media platforms, for instance, can leverage this technology to revolutionize user engagement and monetization strategies. Tokenomics play a crucial role in driving Layer3's economy, incentivizing participation and rewarding value creation. While challenges such as data privacy and market volatility exist, the potential benefits of Layer3 are immense   Anticipation is building as its native token $L3 is on Bitget Pre-market as users await its listing on the exchange. This milestone is expected to significantly increase the token's visibility and accessibility, potentially driving substantial growth and attracting new investors. As the countdown begins, the crypto community watches with keen interest, eager to see how Layer3 will perform in this new chapter.
    • I've been exploring the world of play-to-earn gaming recently, looking for something that's not just about endless grinding but actually offers a fun and rewarding experience. OGC really stood out to me because it combines gaming with a sense of community in a unique way. OGC isn't just a game; it's a platform where you can play, earn, and even help shape its future. You're not just a player; you're part of a community with a voice. The idea of earning crypto while playing games is exciting, but what makes OGC special is its focus on community involvement. Your feedback can directly influence the development of the game, which is a big deal. I've also heard that the OGC token is available for pre-market trading on Bitget. While I'm still getting to know the platform and its features, it's definitely something to keep an eye on. Has anyone else tried OGC? What has your experience been like? I'd love to hear your thoughts and any tips you might have.
×
×
  • Create New...
us