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  • GBPUSD holds inside Ichimoku cloud after bullish cross within SMAs

    From xm.com

    GBPUSD holds inside Ichimoku cloud after bullish cross within SMAsGBPUSD advanced above the falling trend line, that had been holding since June 10, and entered the Ichimoku cloud. Currently, the RSI is flattening above its 50 neutral level, while the MACD is moving sideways above its zero and trigger lines, pointing to a neutral-to-positive short-term trading. Meanwhile, the 20- and 40-period simple moving averages (SMAs) have completed a bullish cross, indicating a positive structure in the short-term timeframe. Should buyers drive above the 38.2% Fibonacci of the downward move from 1.2815 to 1.2250, at 1.2465, ... (full story)

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LOL....to be bullish it need to close above 1.2812 - ~400 pips north away?????? Wow
The amount of lines and things in this chart hurts my eyes. lol
I actually placed a sell order, thinking price was going to fall down after reaching dat hot resistance point. price actually went my way with about 18pips at first. And then retraced back and hits my stop loss.. would have locked in profit.. just wanted more. Lol..
I probably knew what an Ichimoku cloud was at some point.
It's a good rule of thumb that when you have so many indicators you can't really see where price is heading, you've taken it too far. I think that was my mother telling me this, and she would definately call GBP south at this point.
no excuse, GBPUSD, Up.
its coming down. cover affect both countries
referring to any EU-UK negotiations outcome GBP might go north IMHO. After all we are somehow near 40 year`s low!
it rejected at the same previous HH area (1.2530) i believe it will continue with it's downtrend... we might also see a breakout... who knows?
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  • Story Stats
  • Posted: Jul 3, 2020 7:31am
  • Submitted by:
     Newsstand
    Category: Technical Analysis
    Comments: 8  /  Views: 6,617