GBPUSD analysis using Supply&Demand

[SteveF]

GBPUSD is in a very interesting position. Supply and demand boundaries define the borders for future movement. Upside:Break 1.3000 we should go to 1.3400. 1.2780 is key support level for a break downside, then past 1.2650 into 1.2500

 

[SymphonyTrading]

GBPUSD looking bearish in multiple time frames. Target around 1.2800

 

[SteveF]

Hi Symphony Trading - for me, I need to see a break below 1.2878 to get bearish - daily chart is bullish in my opinion in a bull flag. It could very well go lower of course, but I wait to see what the 1.2878 challenge brings.....

 

[SteveF]

Hi Symphony trading, you were correct on the move down and hope you took advantage of it. A key level has broken and we'll see if this bearishness continues .....

 

[SymphonyTrading]

View attachment 14695

Hi Symphony trading, you were correct on the move down and hope you took advantage of it. A key level has broken and we'll see if this bearishness continues .....

Hi, thank you for your input. I like your analysis. I'm sorry for jumping on your thread. It's hard sometimes to find a good thread to post ideas in.

 

[SteveF]

Please jump in, that is the purpose! It is learning and fun to discuss what others see!

 

[SymphonyTrading]

Please jump in, that is the purpose! It is learning and fun to discuss what others see!

Cool! Thanks. Any other pairs you're interested in or other markets? I also like to daytrade emini s&p futures and short term trade stock options.

 

[SymphonyTrading]

I was looking at XAUUSD also looking bearish on a daily frame. I see support at around 1480 and lesser at 1460 which it's already broke thru. The candles are in heiken-ashi. My target at around 1430

 

[SteveF]

Hi - unfortunately my broker account only has forex pairs, no gold or other metals. I look at any pairs made from USD, GBP, EUR, JPY, CAD, NZD and AUD