I'm being asked by people (I didn't say on Tradingview), "Where is the pound going?" This is the wrong question and I explain why. 'The pound (sterling)' is not simply GBPUSD. In the screencast I show opportunities on different time frames.
Overall I conclude that (at this point in time), most significant trends are pointing for the south. That doesn't mean that...
GBPUSD has come into our sell zone between 1.28500-1.2900 also hitting our fib extension and rejecting thus far. shorts now in play! Brexit vote coming into play tomorrow could be a huge catalyst for this pair to go down south as i believe GBP is way too overpriced given the turmoil it is in with the whole brexit mess.
I'm doing my home work and sharing. GBPEUR or EURGBP looks good for next week based on 6H time frames.
In fact nearly all Sterling pairs look favourable for trends south. That doesn't mean I'm shorting all next week.
This is not advice or predictions on what will happen.
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
As investors hope to find clarity on the situation, this market remains very sensitive to what seems like even the slightest thread of news regarding Brexit. Yesterday found strength in the fact that negotiations were developing and a final text had been finally put together, but with the underlying uncertainty remaining the market pulled back...
In the screncast I start off with GBPAUD on a weekly time frame and move on into much lower time frames across other pound-pairs.
The geopolical/macroeconomic picture for the UK with Brexit, creates uncertainty.
There are reliable reports of preparations for pharmaceutical stock piling, big push in logistics sector for storage of tinned food and firelighters...
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...
- Breakout of parallel channel
- Confluence: 61.8 fibonacci level rejection on H4 which happens to be my H4 resistance level (1.3210)
- EMAs crossover with price action below supporting bearish bias
- Bearish sentiment on sterling with uncertainty looming over brexit
- Price seems to be heading back towards the 1.3000 psychological level
- 60 pips target with 30 pips stop
The new low formed at the end of last week failed to break the previous low but has held at the same 1.3080 daily support region. This can be taken as the neckline of our potential head and shoulders formation. Moving averages have been holding price down nicely but the last H4 candle has broken the first level of resistance as price headed towards the 1.3150...
Continued Bullish movement yesterday as price broke and closed above daily moving averages. The moving averages haven’t yet crossed to the upside so we haven’t confirmed further bullish moves but these may now provide a level of support as we look to retest the downtrend in line with the refined Fibonacci retracement region. This could form the lower high in the...
With similarities to Aussie on the weekly time-frame we saw price form a bullish retracement to retest the downtrend at the back-end of last week. This was off the back of positive fundamentals and price seems to have formed it's lower high, rejecting the trend which is also in line with the refined Fibonacci region. Price has already broken the simple moving...
Price consolidated starting around the 4th of May and finally broke below it on the 18th. Currently we are seeing a potential retest near 1.35000 which was a strong support zone since the 4th of May. I am waiting for a candle formation on either the 2H or 4H timeframes before going short on this one.
Giving last months Carney speech about Interest rates talk being halted due to Brexit talks - Needing clarity on where the country is heading before giving an overall economic out look.
In terms of the Currency The Pound Sterling - Investors are mainly concerned about Brexit & Interest rates, as the bullish rally on the GBP was because the central banks said...
**TRADE ALERT** SELL GBPUSD -0.41% at 1.39772 S/L 1.4190. Not for the faint hearted as Brexit talks makes this a lively pair but with the long uptrend breaking together with negative momentum looks a decent trade for a downside move. Recent dovish comments from the Bank of England's Carney also supporting this bearish set up.
**TRADE ALERT** SELL GBPUSD at 1.39772 S/L 1.4190. Not for the faint hearted as Brexit talks makes this a lively pair but with the long uptrend breaking together with negative momentum looks a decent trade for a downside move. Recent dovish comments from the Bank of England's Carney also supporting this bearish set up.