GBPUSD Sell off analysis! Seems pretty straight forward, wouldn't you agree? Monthly resistance not broken yet, and the fibonacci lines up perfectly for a sell. There is a 50 and 200 SMA that price is below too.. but I try not to use too many indicators, as I am a straight up price action trader. Would love to get your thoughts!
If this count is correct, this pair is likely to fall 180+ pips
The Pound has fallen drastically with all of the Brexit drama unfolding. As May steps down as Prime Minister there will likely be more uncertainty ahead as a deal or referendum waits to be hashed out. I am looking for a rejection here at kijun sen for another chance to sell as we look to take advantage of this goliath bearish trend. If we find that good rejection...
While a falling wedge is forming over the past few weeks, the UK was just granted an extension until October of this year ensuring that we are all continued to be bored to death by it until then. In all likelihood, there will be a general election before then and perhaps a new government controlled by Jeremy Corbyn. God knows what he'll do with this mess. At any...
The EU has made it clear that they are no longer interested in shorter extensions. Therefore, its either no deal or a longer extension which could be many months to almost a year. If this is the case, I would expect a significant rise in this pair as it would significantly alleviate the risk of the UK leaving the EU at all. May never come to fruition and we would...
Macron convinced the Spanish and Belgians in supporting his stance on not allowing a long extension beyond April 12th, just five trading days away, without a meaningful signal by the UK Parliament in asserting what kind of deal they want to leave the EU. While Macron did suggest a short extension beyond the 12th, it is not clear when this would be. What is clear...
Havn't made a comment on GBPUSD in a bit mainly since just needed to sit back and see what the developments were. As expected, nothing new has happened while the odds of a no deal Brexit on April 12th are now noticeably higher according to the betting markets. The pound hasn't reflected this reality yet mainly because a deal is priced in. Dramatic volatility will...
So many more problems in Europe beyond the fundamentals, mostly political risk. But first and foremost, the fundamentals still trend down. Price action still trends down. Never trade against the trend. This is probably not an inflection point. It could be only if good data continues to come from the EU which the end of the week it did not. If we continue to see...
Brexit. Its kind of like a bad tattoo in that it never goes away, yet was almost immediately regrettable. Unfortunately that continues to be the case this week with Prime Minister May meeting with opposition leader Jeremy Corbyn to etch out a deal for the House of Commons to pass her bill which has already been rejected three times. Much ink has been spilled and...
I guess one of the only non-political comment that you could make on this chart is to look for those former levels of resistance as support. But also though, to what degree is a deal priced in? Are Brexit deal fully priced into the cable? Staying clear of this pair. No hedgefund algos on my side. Good luck to Blackrock since they probably have the edge on this one...
Today markets another important day of voting in the UK House of Commons where Parliamentarians will again cast opinions on the so-called 'indicative votes' all of which failed the first time around. Regardless, the markets certainly do not believe the UK is headed towards a no deal Brexit, but as of right now that is where the UK is heading as a deal is required...
With a clear majority in the House of Commons against a no-deal Brexit, and with members of Parliament holding more votes on alternative plans on Monday, Mrs May asserted that the UK would have to find “an alternative way forward”. She also may attempt a fourth bid for the Commons to pass her bill. Meanwhile, trading of the pound on Friday faced significant...
With all of the indicative votes failing in the House of Commons and PM May's deal looking increasingly unlikely to pass, the UK is now in serious jeopardy of an accidental crash out of the EU. The price of the pound does not reflect this pact and incredibly the historic 10-day volatility of the pound has dropped back down to relatively normal levels. I am still...
Much of the trading is focused on ranges as opposed to breakout with follow through potential. Moreover, while technicals are quite insightful to herd psychology, the fundamentals will be driving markets going forward in the next 24 to 48 hours ahead of us. This includes assets mostly affected by ongoing themes, such as the pound (GBPUSD) which has primarily been...
We are fast approaching a conclusion to the Brexit story. While no deal Brexit chances greatly increased over the past week with a short extension of April 12th, UK Parliament is still weighing over whether or not to pass May's deal, a rejection of which would even further heighten the chances of a no deal Brexit. If the House of Commons can pass May's deal, then...
Traders are now aware of the April 12th deadline and that it will be extended into May if Parliament passes Prime Minister May's deal she made with the EU earlier in the month. However, the last deal she presented to Parliament lost by a staggering 150 votes. That's quite a bit to make up in 20 days. And what traders are probably not pricing in yet is the...
Traders are now aware of the April 12th deadline and that it will be extended into May if Parliament passes Prime Minister May's deal she made with the EU earlier in the month. However, the last deal she presented to Parliament lost by a staggering 150 votes. That's quite a bit to make up in 20 days. And what traders are probably not pricing in yet is the...