effEX-ike

effEX-ike

Hi everyone, sterling went through a turbulent previous week ranging from 1.36114 - 1.37500. Towards the back end of the week we saw price make yet another attempt at the 1.375 level but failed, visually producing a 'double top' price structure and ultimately price falling away from the highs. Sterling is still proving to be quite strong in these market conditions...

effEX-ike

GBPUSD made a nice bullish rally last week but was halted on Friday when price consolidated and ended bearish 0.67% from the yearly high. From a sentimental perspective, the UK still remains in lockdown meaning no consumer activity in major sectors and this could be the cloud that rains on sterlings gains past 1.37! Any tones of lax-lockdown measures on the...

effEX-ike

GBP/$ has provided lots of trading opportunities over the last few weeks with it's very large range bound moves. Over the last week, sterling made another strong and undisrupted move back into 1.37. This ended in the 'double-top' structure formation which consequently ended on Friday in a plunge (-0.79%) drop back into the highs of 1.35. Entering this week, i...

effEX-ike

Hi Traders, Cable has entered the week 20/07 with some noticeable strength and should not be ignored. Here we have a buy opportunity on the GBP/USD to potentially the 1.28 handle before I begin looking for signs of a reversal. This week the cable will be faced with some PMI and other economic data figures along with the ongoing Brexit negotiations. Reports...

effEX-ike

I'm leaning more towards Alt 1 but will be watching very closely for the ultimate breakdown of the dollar. If the latter comes to fruition this week, EUR/USD is at some key levels to pick out some sell setups... Trade safely all. Good luck.

effEX-ike

GBP/USD Sell setup This is my outlook for the pound over the next few months although depending on a number of factors will determine how quickly the cable depreciation will occur. As a reminder, BoE are due to focus their monetary policy in the upcoming weeks as Brexit negotiations undergo and risk to the currency is renewed. It is also important to keep tabs...