GBPUSD at Resistance

Resistance at this level seems to be holding up as price turns south after touching it.

GBPUSD H4

GBPUSD Channel Break Trade

GBPUSD H4

Recently pair has broken long standing channel but is held by a strong support just below the channel.

A break of this support area could mean more losses. 

Plan is to short the pair on any spikes towards the channel's lower trendline which comes a resistance as well. 

Another case might be that price just goes down breaking support. I plan to go short on break and daily close below support level.

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UPDATE: Pair went straight down breaking the support. Going short on break of support gave me a 50pips profit trade.

GBPUSD Consolidation Channel

GBPUSD H4

Currently price is trading near to big support/resistance level. Previous post and chart [here].

Price is moving in ascending channel and looks like price is creeping up. As long as price remains within the channel, it calls for more upside. 

My strategy is to go long near the lower trendline of channel and short on touch of upper trendline.

GBPUSD Trendline And Support-Resistance Levels

GBPUSD Hourly

GBPUSD price action is well respecting this trendline. First it started with support and when broken it turned into resistance, which when broken upside, turned support again. 

Currently it is acting as resistance on any spike. Now the price is between the trendline and support area. 
On any dips, I am expecting the support to hold and to push prices higher. 

GBPUSD Long Trade Setup

GBPUSD Daily

Area around 1.5250/60 has provided a good resistance in past. 

In previous many sessions price has tried to cross the resistance level but it has failed. On Friday, post NFP rally price has not only closed above the resistance level but it has also made good gains above it. 

I expect the resistance to turn support on any dips. Price action looks bullish in medium term. 

Any dips towards the support level 1.5250/60 should be considered as buying opportunities. 

GBPUSD at Resistance 1.5255/60

GBPUSD Hourly

Yesterday's big spike stalled just short of the big resistance level around 1.5255/60

This is a big resistance level and price looks little over-brought. So I am expecting a pullback till the trendline before up move resume, if it have to.

GBPUSD Major Support

GBPUSD H4

We might be in for a bounce after yesterday's drop. 

Currently price is touching a major support area which is held since long. This area comes around 1.5075/80. 

I went long at 1.5085 and looking for a bounce here.

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UPDATE:
I banked long trade at 1.5140. A total profit of +55pips..

GBPUSD At Big Support-Turned-Resistance

GBPUSD Daily

Level around 1.5250 has been a big support previously. 

This time price is again at that area but from downside. So I expect this level to become support-turned-resistance. 

I entered short at 1.5245 with a stop at daily close above the resistance area. 

GBPUSD Broke The Resistance Line

GBPUSD Hourly

Recent GBPUSD strength has broken above the resistance line which was holding up since Feb. 

It stalled just few above 1.52. 

I am expecting the trendline to become resistance-turned-resistance and looking to go long on touch of trendline with stop at hourly close below the trendline. 

GBPUSD Line and Flag

GBPUSD Hourly

On Hourly charts, the trendline resistance is holding up so far. 

After breaking the channel to the upside, trendline resistance is coming in play. Pair is making out a bullish flag formation. We can call it triangle as well. 

GBPUSD Breaking Wedge

GBPUSD Hourly

I am looking for a meaningful rebound in this pair and looks like its on cards now. 

The bounce from channel's lower trendline has broken a fallen wedge. Despite bad news out of UK, pair is finding buyers, might be its profit taking. But whatever we got the rebound that we were looking for. 

I am already long on this pair from past 2/3 sessions. Previous post [here]. 

On any pullbacks, the wedge trendline is expected to provide good support.

GBPUSD Channel Buy Setup

GBPUSD H1

Price is constantly bouncing from the channel support.

Price looks a bit of oversold and there might be a pullback shaping in. 

GBPUSD Short Trade Plan

GBPUSD Daily

Recent down momentum in GBPUSD has been strong and pair has broken below a major support. 

This support was held on previous 3 dips. This support area comes around 1.5250/60.

100EMA and 200EMA are crossing each other down indicating a bearish structure.

GBPUSD Strong Down Momentum

GBPUSD Daily

Recent GBP down move has broken 3 support areas and trendline. 

The trendline was holding since June-12 and has provided support on many dips. The trendline was more like providing legs to up move in GBPUSD. 

GBPUSD Triangle Short Trade

GBPUSD Daily

I am watching this setup on daily charts from past few sessions and have traded it successfully. Previous trade post [here].

Price has broken above the upper trendline in thin markets of Christmas and New-Year holiday week. 

I didn't took that trade because of thin markets. Moves can be irrational and volatility can he high in thin markets.

GBPUSD Triangle Short Trade

GBPUSD H4

I was waiting for this setup to materialize and it finally did.

Although the price is bouncing from trendline, but it not breaking previous highs. This can be a indication and bull momentum is fading out.

GBPUSD Triangle Short Trade

GBPUSD Daily

A triangle trade is coming up in GBPUSD. Failure to make previous highs may drag this pair down. 

I am watching this setup from past few sessions. Previous post [here].

GBPUSD Trendline Trade

GBPUSD Daily

The daily trendline is providing good support on dips. But failure to make new highs might drag the pair. 

The trendline should be make-or-break here. 

Option Expiry for 13-Dec

Today's option Expiry for 15GMT (from Bloomberg)

• EUR/USD: 1.2950, 1.3125, 1.3150, 1.3175
• GBP/USD: 1.6075, 1.6100, 1.6200
• USD/JPY: 82.40, 82.50, 82.75, 82.80
• AUD/USD: 1.0465, 1.0500, 1.0520, 1.0550

GBPUSD Trade

GBPUSD Daily

Its support-turned-resistance-turned-support scenario.

On daily charts, level at 1.6065 is of main importance as it defines next 50+pips move.