The key event of the 7th December week for GBP/USD was Brexit trade deal talks between British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen during dinner in Brussels on Wednesday, 9th December. The official statement of both sides remaining ‘far apart’ after the end of the dinner increased selling pressure behind...
GBP/USD opened at the pre-market of 23rd November at 1.3289; in Monday’s session the pair was rising strongly in the first part of the day and reached the day’s peak at 1.3398 between 13:00 and 13:15 UTC, being backed by positive U.K. preliminary November PMI figures. The manufacturing PMI was at 55.2 against the 50.2 market forecast, the services PMI was...
Having opened the week of 9th November at 1.3157, GBP/USD traveled to 1.3208 on Monday but closed the day only an inch above the open at 1.3163. A steep upside price action followed on Tuesday supported by amendments made to the infamous Internal Market Bill overriding provisions of the Withdrawal Agreement signed by Boris Johnson on January 2020 and...
Last week, 28th September – 4th October, cable was on a tear, being supported by good GDP stats released on Wednesday. However, the upside price action remained under pressure from the lack of a breakthrough in Brexit trade deals talks between the EU and the UK. With the end of talks on 16th October, the negotiators have two weeks to reach a...
The week ending 27th September opened for GBP/USD at 1.2913. Until Wednesday, 23rd September, the price was in a steady correction, but having reached the 1.2689 daily support level, the pair consolidated above the support level. There have been two more attempts at driving the price below 1.2689 in the week’s two subsequent trading sessions, but both...
The past week, 7 – 13 September, has been marked for the British pound with negative developments in Brexit trade deal talks. The British government made unilateral amendments to the deal signed last year by the EU and U.K., which, as it has admitted, ‘breaks international law in a very specific and limited way’.
GBP/USD has dropped 483 points or 3.64%,...
+4.5% growth during the last 10 days on EURGBP .
Pound keeps losing its grounds on brexit news.
however, based on 3 days chart analysis you can see that the market is facing a crucially important zone of supply.
its lower boundary - 0.93 level is based on 2019's structure high (immediate bearish reaction followed and -10%...
On 8 September, GBP/USD lost 1.36% or 179 points, owing to the sudden crisis in the Brexit deal talks. With the rumors about the changes made to the Internal Market Bill circulating on the sidelines of Brexit talks on September 7th, it became publicly known that the Boris Johnson Conservative U.K. government was going to issue a new edition of the Internal Market...
Confirmed violation of strong horizontal support and new lower low lower close on a daily on EURGBP .
now bearish continuation is highly probable.
The next strong support is based on June's structure and 618 of the last bullish impulse.
0.8875 is the first goal for sellers.
In case of a further decline, the next goal...
Since this pair has reached an important level there's a chance of a bounce back down as seen before but unlike before we see price tapping on 139.500.
If this pair decides to be bullish, I expect a big run to 141 and any bearish move we could revisit 136.
The $1.32 Resistance Rejects Sterling’s Uptrend Throughout the Week
The British Pound has been able to recover quite nicely against the U.S. dollar. After the massive nosedive it took in early March amid fears over COVID-19, Sterling began trending up. Prices rose to a high of $1.317 on Friday, July 31st, only a few cents below where GBP was trading before the...
The Pound Reacts to New Stimulus Plan that Aims to Jump-Start the Economy
The ongoing global pandemic has wreaked havoc on the United Kingdom's mostly service-based economy. As roughly 75% of the nation's GDP is composed of services, manufacturing, and tourism, the government's lockdown restrictions have had an enormous impact on Britain's economy.
Good Morning all. I hope this message finds you well.
Yesterday i got faked out by this pair, nothing major.
Today I placed a buy position as price is greatly oversold. Lets see how this one plays out - looking to hold this trade if the momentum is strong.
Advice for today:
Trading without a stop-loss is financial suicide. Always protect your capital no matter how...
GBPUSD is trading within a rising parallel channel .
Next week we can expect a bullish continuation from its support.
The next goal for buyers is 1.2425 structure resistance based on 618 retracement of a major leg.
what a short rally on GBPUSD on Friday!
the price has surely broken below a major daily structure support level.
now we will expect a further decline to the next major levels:
1.20 level is 2019's structure low and I truly believe that it is the current goal for sellers.
1.19 level is 2016's structure low...
for the entire month of April EURGBP is trading in sideways.
the pair is stuck in a wide 0.868 - 0.883 trading range.
the support of the range is based on a key weekly level.
the resistance of the range is based on a daily structure.
if you are a swing trader, the best option is to wait for a daily violation...