For the meantime, price looks to be contained within a channel. For the short term we could be looking for a sell trade with a build up of order at around the 0.8850 area. Depending on the Brexit negotiations (with 9 months to go) and a possible BoE interest rate rise in August, GBP could gain some strength and take price in the downtrend for the long term.
Price for the time looks to be contained within a channel, a big build up of orders looks to be at around the 0.88500 a good place for a sell trade. Depending on how the Brexit negotiations and a possible BoE interest rate rise in August, the GBP could be looking to gain strength in the more longer term and taking price down.
We could be seeing a brief range period until some new events this week, we have what looks like both Buyers and Sellers waiting to make an impact from the news, BOE Governor Mark Carney is due to speak on Thursday at the Mansion House dinner in London along with the Official Bank Rate Release who many expect to stay at 0.5%.
Looks like a build up of Sell orders at around the 1.0150 area, Sellers getting their orders in, this week we have some news releases regarding Retail Sales m/m and Core Retail Sales m/m both of which could have an impact on USD strength. SNB Governing Board Chairman Thomas Jordan is due to speak about the Sovereign Money Initiative at a Vollgeld event. With a top ...
Recent Weakness in the AUD against the JPY has meant a downturn in the AUDJPY, We've placed a Fibonacci Retracement on the chart and the fib lines match up with previous support and resistance, we'll wait for a pull back up to the 0.236 line to go short, if that line breaks we can still have a chance at the 0.382 line.
This is an optimistic one to be fair. However it is safe to assume that the current move is due a B-C retracement soon. If I get one to the marked zone then I would expect a long term C-D buy and hold to play out. Market structure on higher timeframes is very bullish. This is made obvious by previous swing highs being surpassed steadily. One to stalk.