GBP/JPY is following the drawn wedge since the early days of 2020, reversing every time it hit either the upper or the lower trend line. Not only is the wedge holding strong, the 140 area is holding up as well: the price failed to close above 140 for the eighth (!) time now. Combine the above with the failing Brexit talks, and we have a recipe for disaster on...
📌 @ridethepig G10 FX Market Commentary 18.12.2020 Another early breakfast for Pound sellers, brexit occupies the sentiment throne and optimism has clearly vacated! Pound now has its eye on the breakdown as expected since yesterday and even a wishy washy deal will be a sell in the short-term. Johnson and VDL taking it to the wires will turn out to be the...
📌 @ridethepig G10 FX Market Commentary 17.12.2020 - EURGBP This line illustrates how we can attempt picking a fight with the winning side. It is a characteristic for confidence to see price getting rejected each time it dips below 0.900x, while when above, buyers have the ability to roam anywhere, they are in full control! Here the weakness is isolated to...
GBPCHF H4 - Broken resistance price of 1.19, quite a big price to break, currently looking to retest as support to confirm a change in s/r, this would effectively act as our buy zone pending PA confirmation, slower moving pair, we can hold out for candle closure for that extra bit of certainty.
📌 @ridethepig G10 FX Market Commentary 17.12.2020 ==> What we must track here is the buyers playing $1.360x and reaching overdone levels. The exchanging between UK and Europe is coming to an end, meaning the focus can shift towards the complete 'liberation' of the UK from which it was previously 'restricted'. So, in such cases, when a country loses market...
If AUD can keep up the strength from job sentiment we may see a retest of bottom support. (Keep in mind positive Brexit news also positively effects AUD) Please comment with thoughts and ideas. Thank you.
Setting up of a Head and Shoulders. We just now need a break of neckline to confirm push. Driving factors : Brexit With failing negotiations on Brexit this could make a path for a huge drop in the value of these currencies so fundamentals are very relevant in these circumstances.
There's been no lack of optimism in the markets around the prospects for a Brexit deal in recent months, despite the ultimate deadline now only a couple of weeks away. There have been signs of nerves creeping in the last couple of weeks but broadly speaking, it's clear there's a sense of "the Boris who cried wolf" about all of this. Despite all the threats, the...
Happy Tuesday traders, here is an update on our GBP/USD trade that was closed in profit today. FUNDAMENTALS News that the UK has reached an agreement in principle with the EU led to a sharp spike in GBP pairs. However, the liquidity area between the 50% and 61.8% Fib level keeps holding. An agreement in principle is not a trade deal yet! INTERMARKET 2-year...
UK and EU might seem to find a common path after latest talks but Brexit is a fact now, and the Pound won't come out unscathed after 31st December. Even a deal takes place, the economy of UK will be harmed. GBPCHF is an example of how investors will probably be willing to move their funds to CHF after Brexit to seek for a safety shelter. It's not a secret that...
Hi, Everyone GBPUSD has been rising on hopes for a Brexit deal following progress in talks despite the fact that Wednesday's 1-hour chart is showing cable is nearing overbought conditions, we may see a potential up move through respecting the channel line. Thank you trade safe.
Hello traders and analysts, Here is our Daily timeframe scenario - With the strong Aussie position against the USD - we can see into 2021 - the aussie maintaining the strength. However - the fundamentals can show a good brexit outcome will advance the GBP back to 1.84 zone In the meantime the monthly shows the monthly zone between 1.67 - 1.62 for the GBP AUD...
great risk to reward setup. market flower higher and higher with hopes of brexit deal pound is rising slowly.. so signs of a fall for the pound so that is why we are buying.
BREXIT news floating the pound as of today, potential rally to 1.78750. great risk to reward setup
GBP/USD is inside a perfect channel at the moment. Will it continue down? This trade might be a bit tricky with the Brexit talks going on at the moment, therefore use a tight stop-loss.
Yet another extension. The initial deadline of last Sunday for the post-Brexit trade negotiation has just been extended. In a released joint statement after their call on Sunday morning, UK Prime Minister Boris Johnson and European Commission President Ursula von der Leyen felt that it is responsible for trade talks to continue beyond the deadline but did not...