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- See thumbs up, 5 day MA moves upwards cutting across the 10 day MA. (1st Bull Signal)
- If the 5 & 10 day MA's continue upwards and cross the red 50 day MA (Buy Signal)
- See fib level 0.7 & 0.3 for key price action areas
- Use other fib levels for Stop/Loss & T/P
rebound on the long term support turned resistance, good short position
The Bank of England unanimously voted to leave interest rates unchanged at 0.50% and reiterated "further modest increases" were likely over next few years. In a knee-jerk reaction GBPUSD retreated, but held within a familiar trading range. The negative initial reaction was partly due to the regulator’s cautious rhetoric, as the market expectations got more upbeat ...
The Pound tried hard but was not able to sustain above the 1.35 area against the US dollar. Theresa May failed the negotiations with EU’s Junker on Monday. At least, both sides declared they did not achieve any sufficient progress. Jean-Claude Juncker mentioned that Britain’s position is a tough one, so it is not easy to negotiate with it. It is quite possible ...
For the UK, the rumours of the ‘divorce bill’ agreement between Britain and EU may compare only with the news about the engagement of Prince Harry. This is a real and long-awaited progress in Brexit talks.
The rumours were confirmed, and today’s morning GBP surged to the 1.3430 area. This has been just a preliminary agreement which should be confirmed on the ...
The Black Friday did not give the dollar any minute of respite. There are both, fundamental and technical factors there, that put pressure on the currency. USD broke some significant local levels in pairs with EUR, JPY and GBP, which aggravated the overall bearish picture for the buck this week.
Yesterday the UK Government tripped up the national currency. Her ...
Price keeps on respecting the current bullish channel, we have seen a closure above the 1.33070 resistance which last happened in September, we are now seeing a retest meaning that resistance could now turn into support so if the current 4H candle closes above it I will enter long targeting the resistance trendline around 1.34000s.
GBPUSD LONG POSITION WC 2-10-17
A very calm day for the markets. To some extent because of holidays, to some extent because of strikes. The UK provided the markets with some macro- and economic news.
GBP/USD posted a session low at 1.3230 in the morning. Some buyers were waiting for the pair at these levels and it moved towards the 1.3300 handle before the soft data on construction PMI was ...
Who is under bad luck these days? Who showed wild dances today in the morning? Right, it is the Sterling. One may think what could be the problem since Carney's commentaries should have benefitted the GBP growth.
The Bank of England governor told raising interest rates might be appropriate if the economy stayed on track. Even though he added that tightening ...
Keeping it simple here with a key area marked, fib and trendline .
Uncertainty and recent events in the US could leave to the dollar weakening more over the coming days / weeks. With the fib drawn we could potentially be in for a bounce from the 61.8 level and looking at the 4hr chart this level matches us with some previous support that we are consolidating ...
Data coming from the UK has been improving consistently since the Brexit vote. This of course does not mean all is rosie, however what it does mean is that the BoE are going to be under pressure to eventually raise interest rates if CPI keeps ticking up. We know that wage growth is a concern for the central bank so we too will keep an eye on this ...
Expecting a break to the downside soon.
Cable has been in an uptrend which I called from the consolidation highlighted from 07/03 - 13/03. I believe this strong bearish movement is not a retracement but a reversal of trend. Price may now make a lower high at possibly 1.25400 to form a strong downtrend. I may enter this position after the close of the 4 hour candlestick.
All on chart
GBPUSD broke out of the upside trend line and the move down has stalled within previous structure.
Price now must close below 1.122000 to confirm further downward bias.
With the Supreme Court ruling on if the British Parliment must vote on a deal to leave the EU due mid-Jan we may see price trade sideways until the verdict is delivered.
GBPUSD is in a short trend, and we should look for intraday short opportunities as long as the price is below the red resistance zone. However, the support of the day trendline after breakout may exist, and if the price keeps dropping tomorrow, we have to be cautious with taking short.