The FXB (British Pound ETF) is on pace to snap a 7-month correction, following a test of long-term support at the 147.50 level. If this rally lasts through the end of the month consider buying the ETF with an initial stop loss at 146.95 (just below the January low). Major resistance remains in the 165-170 level, but there is likely to be selling pressure in the...
The GBPUSD has made some strong gains off the sub 1.5 level or so several weeks back, and has solidly broken above a descending wedge resistance line on the weekly chart. The weekly RSI, Stochastics and MACD are all fairly bullish, with a positive crossover occurring on the weekly MACD. As shorter timeframe charts reveal a bit of fatigue and consolidation ahead...
GBPJPY found support at the 178.0 level. If you zoom out to weekly chart you would see a huge upward trend channel started back in 2012. It's a good opportunity that the trend holds and we see a upward move. From the fundamental point both National Banks BoE and BoJ are holding their interest rates at a record low. TP1 185 TP2 189.4 SL 177
The GBPCAD cross looks like it's been consolidating with a flag-like movement since the start of 2014, and this may lead to an eventual bullish leg to fresh multi-annual highs in 2015. Fundamentally, I like being short the Loonie dollar as crude oil's plunge this year should lead to disinflationary pressures in Canada with a possibility of seeing the Bank of...
There's a nice bounce today off 23.6% fibs for a good short entry if you have not done so. A reversal is currently underway for GBPJPY, as traders starts taking profit off longs against the Yen. Stops are placed at the previous high of 184.305, with 2 take profit area at 61.8% & 88.6% fib respectively.
British Pound is in a downward trend channel since July 2014. My short appears attractive from a technical point. I will enter a short GBPUSD position, targeting 1.60. A SL will be activated on a close above 1.64. I will TP on 1.61 and move the stop-loss to breakeven.
The GBPUSD is looking fairly bullish now on the weekly chart as its RSI and Stochastics are turning up from oversold levels, while the MACD blue line appears to want to flatten. The first upside target is in the 1.63 zone, which is roughly where the 38.2% Fibonacci resistance level kicks in. The current bounce occurred off the 50% Fib support level. The 1.63...
This is one of those trades that most persons will love, the type that jump out at you. Price moved last night from the previous high 61.8 retracement and fell exactly to the 1.27 extension. then we are now having a pull back. Measure AB=CD and you will find that price lines up exactly at the 1.618 extension. know this about AB=CD, they always complete, i don't...