How to trade GBP/USD (Cable): Tips & Tricks
GBP/USD Not Out Of The Woods Just Yet — Confluence Detector
managed to recover on Powell's relatively dovish words on Friday, but a recovery will be hard to stage.
shows that cable faces a dense cluster of resistance levels at around
. This includes the Bolinger Band 15m-Middle, the Simple Moving Average 10-15m, the SMA 5-1h, the Fibonacci 38.2 percent one-week, the Fibonacci 23.6 percent one-day, the BB 15m-Middle, the SMA 100-1h, the BB 4h-Middle, the BB 1h-Upper, the Fibonacci 38.2 percent one-day, and a few additional lines.
is another cap that consists of the BB one-day-Middle, the Fibonacci 23.6 percent one-week, and the one-day high.
which is the convergence of the BB 4h-Upper, the Pivot Point one-month Support 1, the PP one-day Resistance 2, and last week's high.
where we see the confluence of the SMA 200-1h, the SMA 50-4h Gbp/usd Price Today , the SMA 50-4h, the Fibonacci 61.8 percent one-week, and the Pivot Point one-day S1.
which is the convergence of the Pivot Point one-month Support 2, the Fibonacci 161.8 percent one-day, the PP one-week S1, and last week's low.
The Confluence Detector finds exciting opportunities using Technical Confluences. The TC is a tool to locate and point out those price levels where there is a
moving averages, Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies.
This tool assigns a certain amount of “weight” to each indicator, and this “weight” can influence adjacents price levels. This means that one
or moving average but under the influence of two “strongly weighted” levels accumulate more resistance than their neighbors. In these cases Gbp/usd Price Today , the tool signals resistance in apparently empty areas.
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