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GBPUSD trading plan.
Buy signals above 1,49 towards 1,52-1,53. Watch for selling signals there (resistance of a bullish flag…All about Flag pattern>>). On the monthly chart, the pair is retesting, and looks like it wants to reject a support near 1,49.
GBPUSD MONTHLY CHART.
On the weekly chart, we see a hammer under a resistance line around 1,52. There is also a bullish stochastic divergence, with the indicator bouncing from the oversold position (20), while the pair is still going down. I will buy pullbacks above the 1,49 support line, with a take profit level around 1,52.
GBPUSD WEEKLY CHART.
Finally, the daily chart shows the cable rising from the support of an ugly bullish flag, with an engulfing candle followed by a tiny spinning top. the flag resistance is in the 1,52-1,53 area. A bearish signal in that zone would mean I have to close any long trade.
GPBUSUD DAILY CHART.
USDJPY trading plan.
Above 121,5, prefer to buy signals to resume a long term bullish trend, but allow for a pull back first, as we are upon a resistance. Take profit (resistances) at 123,25, 124,25, 125,25
On the monthly chart the pair is in the process of confirming a bullish break out of a Fibonacci level around 120. It is however facing a resistance with a former monthly high around 123,1, and may still reverse on it.
USDJPY MONTHLY CHART.
On the weekly chart, both 100 and 200 SMAs are clearly pointing up, indicating a long term bullish trend. We see two supports : an horizontal line at 121,5 , and the 55 SMA. as long as the pair trades above those supports, I will only buy signals on that pair.
USDJPY WEEKLY CHART.
Finally, the daily chart. shows the pair struggling under a 0,786 fib resistance around 123,25. Above that level, the 0,886 line is at 124,25, and the 100 (former high) is at 125,25. I will watch those three levels to eventually take my profits there. Those lines, if broken up, may also be used as supports to find long trades.
USDJPY DAILY CHART.