The British pound is once again testing demand above the 1.2600 level against the US dollar after British Prime Minister Theresa May won yesterday’s Conservative party leadership challenge. The GBPUSD pair remains bearish while trading below the 1.2657 level and is still vulnerable to losses below the 1.2500 level. The GBPUSD pair is likely to take direction from ...
Gold priced in British Pounds has made a tentative break today.
This is not necessarily a Gold trade, but a warning that the British Pound is weak, and a further breakdown is imminent. Gold is caught in a bullish Dollar's crossfire, but Gold relative to GBP is telling is that a substantial currency move may be coming.
The GBPUSD has been grinding support for ...
This Forex Pair is featuring for the first time on our TradingView blogs.
Current setup: Price has found weakness after failing at the previous resistance level.
Conclusion: We are short in this Forex pair as this has become a high probability trading opportunity. We will add more short trades if the weakness continues.
Any comments or questions, do not ...
After an explosive move down, GBPAUD left a big liquidity void and we all know how much GBP loves to fill liquidity voids, lower time frame is showing bullish price action and making a breaker on the 15 mins after taking out previous swing low on the daily.
R/R setup is great for a long, has a massive upside if trade goes in our direction
What a week.....
Pound melted...
100pips up for grabs if you time it well ;)
Still holding gold and USD/JPY cashed in just shy of the take profit area of 113.000
Good week lets see what next week brings!
This is an interesting chart. Gold priced in Pounds was rejected at the Hypotenuse resistance of a descending triangle, reflecting a bounce in the Pound.
This is a bearish formation and indicates either a) incoming extreme Gold weakness, or b) a period of possible GBP strength.
Since the fundamentals favor the Dollar, I am prepared to bet against its ...
The British pound is moving back towards the 1.3100 support level against the US dollar, after peaking at the 1.3170 level on Wednesday. The GBPUSD pair remains vulnerable to further declines below the 1.3100 support level, with a breach of trendline support likely to promote technical selling. Buyers need to stabilize price above the 1.3100 level to build ...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=147.55.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=148.6.
TP4: R2=149.
Set the stoploss of these orders at breakout of S2=147.3.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of ...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=147.2.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=148.
TP4: R2=148.4.
Set the stoploss of these orders at breakout of S2=146.95.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of ...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2725.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2815.
TP4: R2=1.2845.
Set the stoploss of these orders at breakout of S2=1.2695.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of ...
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 ...
Visual 1
First trade for new project.
I will be looking to grow a £500 account to £5,000 in the next 4 weeks. I will be documenting my trades on here to look back on as a memory and to prove to anyone that it is possible.
After this first project is completed i will then increase the starting balance to £2,500 and grow it to £50,000.... this is just the ...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=147.6.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=148.4.
TP4: R2=149.
Set the stoploss of these orders at breakout of S2=147.35.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of ...
The British pound has moved sharply higher against the US dollar after EU chief negotiator Michel Barnier said that the EU was prepared to offer the United Kingdom a ‘deal like no other’. Short and medium-term buyers are likely to remain in control while price trades above the 1.2930 support level, the GBPUSD pair is also supported by bullish momentum on the ...
As per my analysis, we will see a major down turn in the Pound value which will bring it almost to the US dollar level. Time to think if we can hedge ourselves over the next few days or weeks until the short term upward movement lasts.
The British pound trades to the downside against the US Dollar in early Tuesday, as bearish technicals and a possible Brexit no-deal, continue to hurt the British pound sentiment.
The GBPUSD pair is strongly bearish while trading below the 1.2955 level, as it represents a large head and shoulders pattern neckline. Buyers will attempt to push price above the ...
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