Vladimir Ribakov analyzes GBP/USD on daily and four-hour charts, identifying support at 1.20 and bullish divergences on RSI and MACD. He expects a corrective rally but not a full trend reversal, warning traders to wait for clear structural signals before entering positions.
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Hello traders, how are you? Vladimir here from Traders Academy Club. In today's video, the analysis and forecast for the pound dollar. But before that, if you are new to this channel, welcome to our fantastic community. Please subscribe to the channel with the subscribe button below the video, and also I invite you to join us in our trading family, Traders Academy Club. Enjoy Your full VIP price action course. Enjoy the real-time trading ideas and real-time trading education. Every single trading idea we share comes with a detailed, dedicated video explaining the trading techniques behind it. Join our family with the link below in the description below this video. So what do we have on the pound dollar? If you missed. Video I published, I think about 2 or 3 days ago. Uh, you can find it directly on this channel, of course. Uh, just, uh, look around in my videos, or right now in the right top corner I will put the direct link that will lead to there so you can watch it. The idea was we will see one more drop after a pullback, which we got here. The question is now what is happening? And also, if you did enjoy the sells As this pair delivered the expectation, make sure to hit this like button. Let me know what do you think about this instrument, and also feel free to share this video, by the way, with anyone who you want because it's open for the community, of course. So going back to the pound dollar, as the sales are going on, I believe that we should see the buyers very soon start to resist and reject these sells. We are approaching towards some key zone here, the lows of the uptrend and the lows, the last low of the previous downtrend. Very strong area. And as you can see here, that's the 120 round number. Besides that, MACD is likely to, and the RSI of course, likely to reach some over Uh, sold area. And on a daily chart, we already start to slow down here. As you can see, the RSI starts to hint for a bullish divergence. MACD histogram starts to show potential slowdown. So I believe we are running to this place here where we should see the slowdown happening and the reversal pattern taking, uh, Taking place. Is that going to be a full trend change? Now, with that, I'm doubtful. I do think we should see some correction, and it's likely to be an impressive correction. But I don't think that the move, that bearish trend, is fully over, at least yet. Now we take it to the four-hour chart, and this is what we wanted to see: one more low, which currently happens. And as we approach towards the key zone we just saw on the weekly chart, pay attention to the beautiful ongoing bullish divergence developing on a 4-hour chart. And it's pretty much everywhere. So while the daily is building up its own slowdown condition, 4-hour already creates that. We can see that also as a potential. Ending wedge here. So what we want to see basically is this reversal pattern, right? We want to see a fake low, a divergence taking place, and then we do want to see higher highs. And with the pullback, we can then anticipate, uh, further continuation upside. Now, is it going to be this high that will be broken before the rallies take place, or are we going to see one more Time will tell. We are not playing the guessing game. This is a possible scenario, and that's what I also always suggest: never rush. Let the market create the setups for you. Don't create, don't force the setups. Don't fall into this trap and this very, very popular mistake that traders love to do: rush in a trade, rush in a trade because they believe that the trend is over. Okay, of course, once in a while you can get right and enjoy the whole movement, but in other opportunities you will not. And calling a top or calling a bottom before official price structure signs appear usually, usually is a mistake. So let the market Give these signs, candle patterns to appear, the divergence to complete, the lower highs, lower low structure to flip and make higher highs, and then look for your opportunities to buy, uh, with, uh, with the pullbacks. So let me know what do you think about the pound dollar. And so far this was a pretty good one for us, and I believe it, it will be a good one on the next several weeks as well. Let me know what do you think about that. And once again, I invite you to our trading family, Traders Academy Club. With the link below this video in the description. Thanks for your time watching this video. As always, I hope you find it useful and helpful. I see you soon with more. I wish you and yours all the best, and bye for now.
