At the beginning of the trading week, the GBP / USD pair is under pressure from the “bears”, which is reflected in a gradual movement to our target levels, formed by strategic goals. However, at the moment, support to the “bulls” is provided by the level of the 30th figure (1.3000), the confident passage of which on an impulse and subsequent testing on a declining volume will open the way to goals 1.2925 and 1.2680.
“Everyone chooses his own path. And the more obvious the goal, the easier the path.”
Good morning, dear colleagues.
With you, as always, Sergey Denisov and the forecast for the possible movement of the GBP / USD currency instrument.
I remind you that this forecast is a derivative of the main long-term forecast for GBP / USD “Sell with us – sell better than us!” The trading plan is based on technical analysis and the levels of open interest of the SME exchange and serves to ensure that we each day move step by step towards our cherished goal which is profit.
During the trading session on Tuesday, January 28, 2020, the GBP / USD trading instrument showed itself as if in a fairy tale and we all see this very well. The “bears” calmly and permanently put pressure on the pair henced forced for it to decline. A pleasant decrease in all the sense for us as a little more than 85p was interrupted by a correction to the area of 50% -61.8% Fibo, where the price is currently located.
The GBP / USD trading plan has not changed the basic forecast, where we continue to sell in the area of large concentrations of open interest and the volume of 1.2925, where the “smart guys” put up a large number of PUT options, which may indicate a probable hedging of risk when buying futures contracts on BUY, as well as to strategic goal 1.2680.
IMPORTANT: Fear is particularly impulsive “bullish” movements with the update of local maximums. This is the biggest danger for us at the moment!
Seems hard? And no! Every day we will touch on the topic of options and strategic levels, on the future articles and subsequently, if you, dear colleagues, have a desire to receive answers to your questions according to my forecasts, I will conduct a webinar with great pleasure for you!
Dear colleagues, please follow the publication of the “derivative” forecasts for GBP / USD during the whole time the relevance of the main long-term forecast, for you to not miss anything important and eventually get a profit.
IMPORTANT: Remember that you should enter the market exclusively by graphic patterns that are often repeated on the market, this results in a certain pattern of price behavior in the future.
In my trading, I use patterns consisting of candlestick analysis and volume analysis. One of my favorite patterns is updating local extremes on a sharply increasing volume, followed by testing up to 50% -61.8% Fibo.
Thank you for your attention, dear friends.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.