Potential for GBPUSD to bounce from the support zone at 1.31. Lots of price reactions at this zone and we also have the daily S2 level here.
Targeting the 15min / 1hr bearish trendline which is a simple and nice 2:1 RR
Ahead of the big date : 29 March 2019, the pair has shown to be increasingly volatile with highs of approx. 1.3350 & lows of 1.2500 due to uncertainty in the market related to a no deal Brexit.
We anticipate that Brexit will be further delayed as Betfair is offering 1.2 for the UK to not leave the EU by the 29/3/19 and 5.7 for otherwise. A delayed Brexit would be...
Here is a fairly high Reward:Risk trade set up for next week.
GBPUSD is approaching the outer bullish trendline for a 3rd touch and this also coincides with the Fibonacci 0.618 retracement zone. This is a very simple trend continuation set up with a target price of 1.35 achieving a high reward ratio.
However! - It takes 3 touches of a trendline to confirm it. So...
Didn't have a chance to post this earlier...
Came out of the XRP trade last night in profit.... two days left of the week gotta keep it moving..
1.300 next for cable.... going to destroy the forex market next week need to recover what was missed this week....
I we break below and close below the indicated trend line , then short to 12.7 , we have already retested.
Don't risk what you cant afford to lose. I am loaded so I can afford to lose a heap of Dosh.
If one were to plot the exchange rate between the US Dollar and the British Pound, since the beginning of the USD as a standalone currency, you would find one of the most consistent bear trends of the last 2-3 centuries.
If one were to look at the decline of the Pound against the USD from the end of WWII to the present day, you would find an even more defined...
Heading in to the key EU October summit to be held this Wednesday where Brexit will be discussed. Lots of positive Brexit talk in the last 2 weeks with the EU saying they're prepared to offer a "supercharged Brexit deal" and that "EU are ready to offer a deal" and most recently, German companies (specifically auto sector) putting pressure on the German govt -0.08%...
Looking to get long on the Cable this week, using this Gartley pattern as my entry reason. We also have some fib confluence with the 50% & 618% retracements of the last couple of moves up from higher timeframe.
after broken channel up last week, I think cable will drop, waiting for retest at descending trenline, potential head and shoulders forming at the chart, support at 1.129100 potensial downside target for the next week
We open long trade for GBPCHF
The reasons are:
While we are short-term GBP bears, we remain constructive on the medium-term
prospects for GBP – given our house-view that a politically acceptable withdrawal deal
will be struck between the UK and EU.
Based on the BOE’s latest r* estimates, we note that the term structure of UK interest
rates is around 75-100...