{"id":11559,"date":"2021-09-30T18:31:35","date_gmt":"2021-09-30T18:31:35","guid":{"rendered":"https:\/\/tradingshot.com\/?p=11559"},"modified":"2023-05-04T18:34:16","modified_gmt":"2023-05-04T18:34:16","slug":"gbpusd-close-to-the-channel-down-bottom-buy-signal","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2021\/09\/30\/gbpusd-close-to-the-channel-down-bottom-buy-signal\/","title":{"rendered":"GBPUSD close to the Channel Down bottom. Buy signal."},"content":{"rendered":"<p>&nbsp;<\/p>\n<p>The pair has been trading within a Channel Down since April 30. Today it is rebounding after coming the closest to the bottom (Lower Lows trend-line) of the Channel Down since July 20. This is a short-term buy signal on its own with a 1.3750 Target (the short-term Resistance).<\/p>\n<p>On a more longer term perspective though, we can see a similar fractal developing as in April-May 2020 (green shapes\/ Fractal (A) and (B)). If it weren&#8217;t for the March 2020 COVID market crash, then Fractal (A) would have also traded in the extension of a Channel Down, as Fractal (B) does. That fractal was the bottom of that pattern and GBPUSD started a 12 month bullish trend then. So if the current Channel Down breaks to the upside, our firm&#8217;s thesis is that the pair can extend the rise to at least the 2.0 Fibonacci extension (1.4400) before the next major correction.<\/p>\n<p>Tradingview link:<\/p>\n<p><a href=\"https:\/\/www.tradingview.com\/chart\/GBPUSD\/2MvGiAsI-GBPUSD-close-to-the-Channel-Down-bottom-Buy-signal\" target=\"_blank\" rel=\"noopener\">https:\/\/www.tradingview.com\/chart\/GBPUSD\/2MvGiAsI-GBPUSD-close-to-the-Channel-Down-bottom-Buy-signal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; The pair has been trading within a Channel Down since April 30. Today it is rebounding after coming the closest to the bottom (Lower Lows trend-line) of the Channel Down since July 20. This is a short-term buy signal on its own with a 1.3750 Target (the short-term Resistance). On a more longer term<\/p>\n","protected":false},"author":611,"featured_media":11560,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1637],"tags":[],"class_list":["post-11559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/11559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=11559"}],"version-history":[{"count":3,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/11559\/revisions"}],"predecessor-version":[{"id":11563,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/11559\/revisions\/11563"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/11560"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=11559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=11559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=11559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}