Although we cannot yet rule out a new bottom on daily chart, from a technical point of view, we are approaching an interesting support area, and this should trigger a bullish reaction on the pair. That said, our short-term view is bullish and we will follow the development in the next few hours on intraday chart (Reversal Pattern formation is necessary to trigger...
New Week - Happy Monday Price breakout of a correction after breaking and retesting a descending channel. I'm expecting price rally up.
As we can see GBPNZD has rejected support having broken through the long term ascending channel. According to my chart we've not retested the channel yet (obvs this isn't always the case, but I would have expected it as it was a long term bullish trend), so I'm thinking it will. As this is a retracement trade i'll be looking to TP before my resistance block just...
I think this is a good pair to short, with GBP struggling to get through resistance even with the dip in oil prices. I'm expecting a fall back to support around 1.638 as my target.
GJ has been in this intraday range and we have now seen a breakout and retest we can aim for some sell trade
Going short within a support and resistance level range. Proper risk management is key.
We can see that GBPNZD has broken below the mid-point of the rising channel. Looking for sells going into the BoE rate decision this week, with NZD generally strengthening and GBP generally weakening. Depending on what happens on Thursday we we'll see either a break of a bounce off this point. I'm targeting 2.072 initially, where I see confluence of the rising...
Hello traders, UK GDP and BOE decision making meeting could change the market direction. Daily view 4H view There are 3! entries and 1 TP for this pair. Levels calculated order_block, regarding support and resistances, channel and pivot points.
We can see that GBPAUD has broken the weekly rising trendline with gusto at the end of last week. We have a small pinbar close on Friday which suggests a retracement back up to retest. I'm expecting strength to build up for the AUD with the positive signs coming out of China, we can see it is recovering across most crosses, and sterling weakening. BoE decision...
In my opinion GBP is building up for a big fall this year, and it has to start with a lower high. Oil prices are rising, and as much as the FED don't want this, it's happening, and this should be good for CAD. I can see a rising wedge pattern, we can see spinning tops forming and it looks like we're running out of steam, I believe we'll initially fall back to...
I'm expecting full on GBP weakness over the coming weeks, regardless of what happens with the dollar. We've broken below the months of ascending trendline and so far failed to break back above, we have a beautiful bearish engulfing candle on the 4hr close from Friday. I get this pair wrong a lot (because I live in the UK and can see a car crash happening in slow...
Given the chart pattern and overextended nature of this pair I’ll be looking to short this cross if the pound continues to gain in strength. A short entry on this pair will be taken with considerable caution due to the divergence in monetary policies. That being said, given the UK’s lacklustre economy I think further rate rises, although needed, will be...
Yen has been weak across all other currencies. Sterling has had one of the best performances against it. Will it continue? We shall see. The chart favors continuation in my opinion, even though we are witnessing a rising wedge formation, which typically breaks to the downside. There are times also when it does the opposite. Also take note of the similar type of...
These are just my ideas, what I’m expecting, and why, with this week’s the big fundamentals. Overview Big market-moving news this week with Wednesday’s UK CPI, Thursday’s BoE Interest Rate Decision and Forecast, there is also FED Powell’s testimony in between the UK events on Wednesday. Several things could play out with the UK news, which is what my scenarios...
The British pound had a strong rally, starting from the ¥175 level and breaking through significant resistance levels. It even surpassed ¥180, a psychologically important mark. However, caution is advised as chasing the trade at these levels is risky. Markets don't go up indefinitely, and a pullback is expected. Lower prices are needed before considering entry. If...
GBP/USD is in one-year highs - where is the next resistance? In between 1.2867/85 lies a short term resistance line, the 55-month ma, the 200-weel ma and the 23.6% retracement of the entire move down from the 2007 peak. We recommend tightening up stops as we approach this tough zone as we would allow for some profit taking in this vicinity. Disclaimer: The...
FOLLOWING DOLLAR INDEX ( DXY ) MONTHLY ANAYLSIS.. GBPUSD INMINENT SELL OFF PRICE COME BACK FOR FIRST TIME (HIGH PROBABILITY) TO A SUPPLY ZONE GENERATED PREVIOUSLY AFTER TOUCHING ABOVE SUPPLY ZONE. I SUGGEST TO OPEN SELL POSITIONS: - SL 1.26850 - 1.26900 (Above Supply zone) - TP 1: 1.18 (closing internal bearish cycle) - TP 2: 1.07 (closing external...
This expectation is a framework to look for a potential trading setup; I don't just execute based on these levels, I always wait for confirmations on lower timeframes This Analysis was done using my complete Strategy which includes: - Smart Money Concepts - Multi Timeframe Liquidity and Market Structure - Supply And Demand - Auction Theory - Volume Analysis -...