Categories: Technical Analysis

Get ready to long the GBPUSD

Technically the pair has all the reason to continue north. Weekly and Daily charts are under bullish pressure due to the divergences forming. On the daily chart we also have false break which is extra confirmation. So i think buying dips is the correct thing to do for this pair. Main plan is to look for double wave correction on the intra-day charts like M30, ideally with bullish hidden divergence to form.

Technical Overview:

W1 Bullish divergence forming

D1 Bullish divergence along with false break

Entry:
M30 – Look for double wave correction and go long once the correction is completed.
Target 1: 1.4790
Target 2: 1.4860
Stop Loss: below 1.46

Video Explanation

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.