EURGBP
Intraday - We look to Buy at 0.8485 (stop at 0.8445)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. The hourly chart technicals suggests further downside before the uptrend returns. The bias is still for higher levels and we look for any dips to be limited. We therefore, prefer to fade into the...
A double top has already formed no the GBPCHF 240 chart and we are good to go.
Reward to risk = 1.4/1.
Enter around 1.21069 - Entry reason: Bearish engulfing.
S.L. 1.21789
T.P. 1.20034
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...
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...
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...
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...
Now that we know we have a bit of an extension until April 12th, but that will be extended into May if Parliament passes Prime Minister May's deal she made with the EU earlier in the month which had already lost by a staggering 150 votes. That's quite a bit to make up in 20 days. Overall, I'm now quite negative on every pound pair. Here's more words and charts on...
As you see on the Chart above GJ creates a smaller ABCD pattern in bigger ABCD pattern. We rejected of 145.70 multiply times. I think we see the break of Tl support next Days. When it hits our Target at 143.00, we may can look for a long position, to swing it to 147.50 - 148.00. Keep your eyes open
