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The GBP/USD has continued to decline for the fourth consecutive trading day. So far, the pair has declined as much as 93 pips, and is currently trading off the daily low at 1.4134. As price is now trading below today’s S3 Camarilla pivot point at 1.4177, it opens the pair up to breakout again towards new weekly lows. Traders watching for a breakout should continue to monitor the S4 pivot point, which is found at a price of 1.4090. A move below this value would mark the third consecutive bearish breakout for the pair. In this scenario, traders may extrapolate 1X todays 127 pip trading range to find initial targets near 1.3963.
In the event of a bullish reversal, traders will first look for price action to move back inside of today’s pivot range. If prices trade back above the S3 pivot, this will open up the GBP/USD to trade towards values of resistance, which include the R3 pivot point at 1.4261. In this scenario, any previously seen bearish momentum would be considered at least temporarily suspended. It should also be noted that bullish breakouts begin today above 1.4321. A move above this value would be considered significant as it would be the first bullish breakout this week, and open the GBP/USD to test new monthly highs above 1.4503.
SSI (Speculative Sentiment Index) for the GBP/USD is currently reading at +1.83. This value has increased from last week’s reading of +1.37. As SSI continues to increase, when taken as a contrarian signal it suggests that there may be future price declines in store for the GBP/USD. Traders looking for a bullish reversal should continue to monitor SSI. In this scenario, traders should look for the Index to decline back towards more neutral values.
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The GBP/USD has continued to decline for the fourth consecutive trading day. So far, the pair has declined as much as 93 pips, and is currently trading off the daily low at 1.4134. As price is now trading below today’s S3 Camarilla pivot point at 1.4177, it opens the pair up to breakout again towards new weekly lows. Traders watching for a breakout should continue to monitor the S4 pivot point, which is found at a price of 1.4090. A move below this value would mark the third consecutive bearish breakout for the pair. In this scenario, traders may extrapolate 1X todays 127 pip trading range to find initial targets near 1.3963.
In the event of a bullish reversal, traders will first look for price action to move back inside of today’s pivot range. If prices trade back above the S3 pivot, this will open up the GBP/USD to trade towards values of resistance, which include the R3 pivot point at 1.4261. In this scenario, any previously seen bearish momentum would be considered at least temporarily suspended. It should also be noted that bullish breakouts begin today above 1.4321. A move above this value would be considered significant as it would be the first bullish breakout this week, and open the GBP/USD to test new monthly highs above 1.4503.
SSI (Speculative Sentiment Index) for the GBP/USD is currently reading at +1.83. This value has increased from last week’s reading of +1.37. As SSI continues to increase, when taken as a contrarian signal it suggests that there may be future price declines in store for the GBP/USD. Traders looking for a bullish reversal should continue to monitor SSI. In this scenario, traders should look for the Index to decline back towards more neutral values.
To Receive Walkers’ analysis directly via email, please SIGN UP HERE
Do you know the biggest mistake traders make? More importantly, do you know how to overcome the biggest mistake? Read page 8 of theTraits of Successful Traders Guideto find out [free registration required].
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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