Micro GBP/USD Futures (M6B1!), H4 Potential For Bullish Rise

44156 micro gbp usd futures m6b1 h4 potential for bullish rise

Type:

Bullish Rise

Key Levels:

Resistance: 1.2181

Pivot: 1.2061

Support: 1.1955

Preferred Case:

On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 1.2061 where the pullback support is to the 1st resistance at 1.2181 where the overlap resistance, 61.8% fibonacci retracement and 127.2% fibonacci extension are.

Alternative Scenario:

Alternatively, price could break pivot structure and drop to the 1st support at 1.1955 where the pullback support, 50% fibonacci retracement and 61.8% fibonacci projection are.

Fundamentals:

Due to the current political uncertainty in the UK, rampant inflation and relatively modest interest rate increases, we have a bearish bias on the GBPUSD . We’ll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.

Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.

High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% and 68% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Written by Desmond Leong

Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.


Previous Post

MICRO E-MINI S&P500 INDEX FUTURES (MES1!), H4 Potential For Bearish Drop

Next Post

Gold Futures ( GC1! ), H4 Potential For Bearish Continuation

[{“code”:”firstname_latin”,”message”:”Please use Latin characters only”},{“code”:”lastname_latin”,”message”:”Please use Latin characters only”},{“code”:”email_rfc822″,”message”:”Invalid email address”},{“code”:”phone_int5″,”message”:”Please use at least 9 digits and a ‘+’ sign only”},{“code”:”name_char1″,”message”:”Please insert your name”},{“code”:”message_char6″,”message”:”Please insert a message that is 6 – 200 characters long”},{“code”:”choose_lap”,”message”:”Please choose a lap”},{“code”:”firstname_latinint”,”message”:”Please use Latin characters only”},{“code”:”lastname_latinint”,”message”:”Please use Latin characters only”},{“code”:”nick_latinmax15″,”message”:”Please use up to 15 Latin characters and digits only”},{“code”:”accept_terms”,”message”:”Please accept the Terms and Conditions”},{“code”:”email_in_use”,”message”:”This email is already in use”},{“code”:”nick_in_use”,”message”:”This nickname is already in use”},{“code”:”firstname_empty”,”message”:”Please insert your first name”},{“code”:”lastname_empty”,”message”:”Please insert your last name”},{“code”:”unknownError”,”message”:”We are experiencing some technical issues. Please try again later.”},{“code”:”technical”,”message”:”We are experiencing some technical issues. Please try again later.”},{“code”:”birthdate_char”,”message”:”You must be 18 years old to register”},{“code”:”duplicate_data”,”message”:”You have already registered. Please note that each Client can open only one Welcome Account.”},{“code”:”account_char1″,”message”:”Account number is invalid”},{“code”:”account_mismatch”,”message”:”Please make sure that the information provided matches your registered details”},{“code”:”deposit_numeric”,”message”:”The amount is not in a valid format”},{“code”:”deposit_amount”,”message”:”Please enter a valid amount between 100 and 5000000″},{“code”:”limit_reached”,”message”:”Dear Client, please be informed that you have reached the limit of demo accounts available per person. Therefore, this request will not be processed. Feel free to contact us if you need further clarification.”},{“code”:”email_temp_provider”,”message”:”The use of temporary email address is not allowed”},{“code”:”email_tradingaccount_mismatch”,”message”:”The email is not associated with trading account provided”},{“code”:”birthdate_year”,”message”:”You must be at least 18 years old to register.”},{“code”:”country_char”,”message”:”Selected country is not eligible for this type of account”},{“code”:”company”,”message”:”This type of account is not allowed for the selected company”},{“code”:”currency”,”message”:”There was an error opening the account. Please contact support providing them with the following code: CURR10″},{“code”:”gender”,”message”:”There was an error opening the account. Please contact support providing them with the following code: GEND11″},{“code”:”gender_inv”,”message”:”There was an error opening the account. Please contact support providing them with the following code: GEND12″},{“code”:”language”,”message”:”There was an error opening the account. Please contact support providing them with the following code: LANG13″},{“code”:”assignee_inv”,”message”:”There was an error opening the account. Please contact support providing them with the following code: ASGN14″},{“code”:”sales_status”,”message”:”There was an error opening the account. Please contact support providing them with the following code: SALS15″},{“code”:”company_unknown”,”message”:”There was an error opening the account. Please contact support providing them with the following code: COMP20″},{“code”:”platform_type_unknown”,”message”:”There was an error opening the account. Please contact support providing them with the following code: PLAT30″},{“code”:”tm_platform_type_unknown”,”message”:”There was an error opening the account. Please contact support providing them with the following code: PLAT31″},{“code”:”account_type_unknown”,”message”:”There was an error opening the account. Please contact support providing them with the following code: ACTY40″},{“code”:”leverage_unknown”,”message”:”There was an error opening the account. Please contact support providing them with the following code: LEV50″},{“code”:”classification_unknown”,”message”:”There was an error opening the account. Please contact support providing them with the following code: CLSF60″},{“code”:”account_group_unknown”,”message”:”There was an error opening the account. Please contact support providing them with the following code: ACGR70″},{“code”:”account_group_type_unknown”,”message”:”There was an error opening the account. Please contact support providing them with the following code: ACGR71″},{“code”:”lead_unknown”,”message”:”There was an error opening the account. Please contact support providing them with the following code: LDUK80″},{“code”:”lead_already_connected”,”message”:”There was an error opening the account. Please contact support providing them with the following code: LDUK81″},{“code”:”lead_source_unknown”,”message”:”There was an error opening the account. Please contact support providing them with the following code: LDUK82″},{“code”:”lead_exists”,”message”:”There was an error opening the account. Please contact support providing them with the following code: LDUK83″},{“code”:”lead_already_converted”,”message”:”There was an error opening the account. Please contact support providing them with the following code: LDUK84″},{“code”:”already_started_verification”,”message”:”There was an error opening the account. Please contact support providing them with the following code: LDUK85″},{“code”:”lead_already_verified”,”message”:”There was an error opening the account. Please contact support providing them with the following code: LDUK86″},{“code”:”awaiting_verification”,”message”:”There was an error opening the account. Please contact support providing them with the following code: LDUK87″},{“code”:”invalid_lead_type”,”message”:”There was an error opening the account. Please contact support providing them with the following code: LDUK88″},{“code”:”platform_error”,”message”:”There was an error opening the account. Please contact support providing them with the following code: MTPL90″},{“code”:”platform_unknown”,”message”:”There was an error opening the account. Please contact support providing them with the following code: MTPL91″},{“code”:”database_error”,”message”:”There was an error opening the account. Please contact support providing them with the following code: DBSE92″},{“code”:”firstname_char”,”message”:”Please enter a valid First Name”},{“code”:”lastname_char”,”message”:”Please enter a valid Last Name”}]

GET YOUR WEEKLY NEWSLETTER

Thank you. Your registration is confirmed!

Source: Tickmill

Related Posts