GBP/USD is About to Break

GBP/USD is at the very end of the wedge, it will be forced to break:

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  • NathanTucci

    Hey Paul, the GBP news didn’t help the GBP/NZD certainly, but I sure hope you crushed that EUR/GBP TARGET!! I like the cad/jpy to continue upward and into the 98 zone.. slow and steady, but a high probability move I think.

  • NathanTucci

    Thanks Hakim, I appreciate you checking it out!

  • NathanTucci

    Uh Oh, Chuks, this thing went CRAZY on you!

  • NathanTucci

    Good point on the AUD there, Chuks, I can see the there some evidence on both sides here. Will wait this one out for sure. I am not convinced either way.

  • Hakim

    Very interesting analysis!!!

  • Paul

    Thank you for the excellent as always ‘Nathans’ Daily Analysis’

    Just to clarify (as you made specific mention of my comment yesterday)

    I’m hoping for the CAD JPY to dip a little lower to open my pending long order, which is at 96.50

    I took a full loss on my AUD USD short trade yesterday, having missed my first target by a couple of pips earlier in the week!

    I entered the GBP NZD short from a four hour candle ‘trigger’ which has already hit my first profit target and I have moved my stop to a break even position (if this works I’ll post my chart, trigger bar, which turned out to be two consecutive trigger bars, highlighted in yellow)

    I am also still short EUR GBP, which is hovering around the break even level at the moment (trigger was the daily candle mentioned last Thursday (printed Wed 17th April)

    Thanks again and keep up the great work (the USD crosses are indeed frustrating at the moment and its reassuring to see & hear you emphasising the need for continued patience and that you don’t have to be in a trade or two every single day)

  • Chuks

    Only problem I have is with your AUDUSD analysis. I believe pair is basically turned up and if you look well, pair seems to have put in a massive ascending angle that could lead us into 1.0850 sooner than later. I am certainly long and will hold it a while unless there is a cogent reason to liquidate

  • Chuks

    Gbpusd had a clear and strong bearish evening star candlestick off a very strong resistance. That can only point me down and after 4 days of consolidatory stalling movement following that signal, I am now satisfied that a run down into 1.5030 is due and so am in short at 1.5330 intraday resistance with stop just above the star candle. Nice and objective analysis from you!!