Weekly ideas for FX:GBPJPY GB
Overall bearish trend so I will be looking for more downside from the pound with the news over the weekend of a national lockdown. Expecting a gap down upon market open.
We have US elections on 3rd November which will also play a role in GBP direction (Trump is pro Brexit)...
I will be keeping an eye on these levels of interest.
IF news is favourable this Sunday May 10th in Great Britain after talks on new lockdown measures are released (easier).
Im expecting a slight jump in GBP/USD and a little squeeze on the downside of USD/CAD. Therefore Tp1 + Tp2 will be hit and possibility of Take profit 3 at end of next week.
(all Dependant if market conditions are favourable in respect to...
Looking at a basket of Sterling pairs on a variety of time-frames.
(You can add this to your own watchlists by copying this code: GBPAUD*GBPCAD*GBPCHF*GBPJPY*GBPNZD*GBPUSD*GBPEUR )
There appears to be some evidence of a bottom shaping on the 4-hour chart.
Expecting a bumpy ride with Sterling, but I believe the Risk/Reward is looking favourable in the short...