EUR/GBP About to flop again?EUR/GBP has been getting slammed, mainly due to increasing tensions in the Ukraine. We anticipate the downtrend to continue, and current prices over a fantastic short opportunity.
Currently retail sentiment is between 65-70% long.
Resistances include the 0.8300 signficiant figure, the short term trendline, and the 50% fibonacci level.
Betty
GBP/USD Signal - GBP Retail Sales - 21 Jan 2022GBPUSD is trading to the downside today after price has broken the ascending and corrective support trendlines. The UK parliament is in the process of outing PM Boris Johnson, giving the GBP some weakness, and Ukraine tensions are also boosting the USD higher. We're looking for a significant drop on the forex pair.
GBP/USD Signal - USD Initial Jobless Claims - 18 Nov 2021GBPUSD is trading to the upside prior to the USD Initial Jobless claims data, which measures the number of people applying for unemployment benefits for the first time. Technically the pair is in a bullish 1H cycle, and we're targeting the previous structural resistance as our TP.
GBP/USD Signal - GBP Markit Manufacturing PMI - 1 November 2021GBPUSD has traded into the fibonacci golden pocket as support prior to the GBP Manufacturing PMI data later today, which is an indicator of the economic situation in the UK manufacturing sector. Technically the pair is at fibonacci golden pocket support, the RSI has generated a buy signal, and there is a large imbalance candlestick pattern. We anticipate upside into the 1.3755 level.
GBPUSD Signal - USD GDP Data - 28 Oct 2021GBPUSD has broken the support trendline and is breaking below structure. This is a hedge of our currently open buy trade, however later today the USD Gross Domestic Product will be release, which will potentially spur volatility. If price moves to the downside we are targeting the 61.8% extension at 1.36400.
GBPUSD Holding Support - Ready to soar1D Chart
GBPUSD is holding support around 1.37300 but the pair is still in a mid term bearish cycle which started from June 2021.
1H Chart
Price has broken the support trendline but is still holding 1.37300 support. If this support holds, we are still looking for upside to 1.3900. Alternatively if the support breaks, we will look for continued downside into the 1.3600 level.
GBP/USD Signal - GBP Claimant Count Rate - 12 Oct 2021GBPUSD is trending to the upside currently prior to the GBP Claimant Count Rate, which measures the number of people applying for unemployment benefits. Technically the pair has broken the immediate bearish structure, and the 4h chart RSI is mixed. We anticipate continued upside today.
GBP/USD Signal - USD Retail Sales - 15 Oct 2021GBPUSD has traded into support prior to the USD Retail Sales data, which measures the total receipts for retail stores in the USA. Technically the pair is holding the 38.2% fibo level from the daily chart as support, and we anticipate a rebound into the recent highs at 1.3750.
GBP/USD Signal - USD ADP Employment Change - 6 Oct 2021GBPUSD has bounced out of the ascending wedge pattern prior to the USD ADP employment change data, which predicts NFP. Technically the pair has broken the ascending wedge, which is a bearish price pattern, and the pair is looking to further downside.
GBP/USD Signal - USD 3 Month Bill Auction - 27 Sep 2021GBPUSD is trading to the upside prior to the USD 3 Month bill auction, which reveals the yield on the bill. Technically the pair is trending to the upside and has broken bearish structure, and we anticipate continued pressure to the 1.3780 level.
GBP/USD Signal - BRC Retail Sales - 6 Sep 2021GBPUSD has bounced from a key pivot level as resistance prior to the BRC Like for Like Retail Sales Data, which measures changes in the actual value of retail sales from participating companies with invaluable management information on a regular and reliable basis. Technically the pair has bounced from trendline and pivot resistance, and the RSI has given a bearish signal. We anticipate continued downside.
GBP/USD Signal - USD 3 Month Bill Auction - 30 Aug 2021GBPUSD has traded into resistance prior to the USD 3 Month Bill Auction, which will show the yield on the government backed security. Technically the pair has traded into structure and trendline resistance, and the RSI Has given a sell signal. We anticipate continued downside.
GBP/USD Signal - GBP Trade Balance - 12 Aug 2021GBPUSD has traded into resistance prior to the GBP Trade Balance data, which shows the UK's balance between imports and exports. Technically the pair has broken a key support and is now retesting the support as resistance. The RSI has also turned bearish, and we anticipate continued downside into the 1.3711 level.
GBP/USD Signal - USD 3 Month Bill Auction - 23 Aug 2021GBPUSD is trending to the downside prior to the USD 3 Month Bill Auction data, which reveals the yield for the US Treasury backed security. Technically the pair is trending below the 50 moving average, and the 50 & 200 MA's are in a bearish cross. We anticipate continued downside into the 1.3560 level.
GBP/USD Signal - GBP Markit Manufacturing PMI - 2 August 2021GBPUSD is trending to the upside currently prior to the GBP Markit Manufacturing PMI data, which is an indicator of the economic situation in the UK manufacturing sector. Technically the pair has broken above a key pivot point, and has now come back to retest the pivot point as a support. We anticipate continued upside back into the recent highs!
GBP/USD Signal - USD Continuing Jobless Claims - 22 Jul 2021GBPUSD has retraced in a downtrend prior to the USD Continuing jobless claims data, which shows the number of people remaining on unemployment benefits. Technically the GBPUSD is trending to the downside and has retraced to a key level. The RSI generated a sell signal and price has rebounded from the upper bollinger band, generating a mean reversion signal.
GBP/USD Signal - 19 Jul 2021GBPUSD is trending to the downside today to start the week on the backfoot. Last week the USD finished strongest of the major currencies, and we are seeing that continued today. Technically the pair has broken the ascending trendline, and is below the moving average ribbon. We anticipate continued downside.
GBP/USD Signal - GBP Consumer Price Index - 14 Jul 2021GBPUSD has done a break and retest of the resistance trendline prior to the GBP Consumer Price Index data, which measures the change in price across a representative basket of goods and services. Technically the pair has done a break and retest, and is also now at fibonacci support. We anticipate continued upside into the 1.3955 level.
GBP/USD Signal - GBP Markit Construction PMI - 6 Jul 2021GBPUSD is trending to the upside prior to the GBP Markit Construction PMI data, which shows business conditions in the UK construction sector. Technically the pair has broken the descending trendline, and has turned bullish. We anticipate upside into the 1.38070 level.