GBPUSD has traded into the golden pocket fibo and the 200 hour MA resistance. PPO and RSI also point to downside!
GBPUSD 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.
GBPUSD 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.
GBPUSD 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.
GBPUSD 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.
GBPUSD is trading in a range prior to the USD Consumer Price Index data, which shows the change in price across a representative basket of goods and services and is used to measure inflation. Technically the major forex pair is at range support and above the key 1.4100 level. We anticipate upside into the range resistance, and potentially beyond. Our upside target...
EURGBP has traded into resistance prior to the ECB President Lagarde speech, which will provide insight into future monetary policy decisions for the European Central Bank. Technically the pair is at moving average and trendline resistance, and we anticipate downside today.
CHFJPY Is in an ascending channel and has bounced out of a key support / resistance level. I am looking for further downside on the cross forex pair.
GBPJPY is trending to the downside today prior to the GBP retail sales data, which measures the total receipts of retail stores domestically. Technically the pair has done a break and retest of the support trendline, and the PPO is doing a bearish cross. We anticipate a retest of support at 153.35.
GBPUSD prime for hourly upside, trading above the moving averages.
GBPUSD looks set for upside after bouncing from the 50 moving average.
~GBPUSD has rebounded out of the resistance trendline and is now pushing to the downside! We are targeting the 0.382% fibo level.
GBP USD is trending to the upside and has done a break and retest on the intraday timeframes. With the usd being a sell we anticipate this trade to have some continued upside.
GBPUSD has broken the ascending trendline and we are looking for further downside as COVID 19 Cases increase in the UK.
Price so far has respected the daily trendline, making a 4th touch. This trade idea will be invalidated if price breaks the TL and previous high, and offers a fantastic R/R. Traders should look for this oppurtunity at London open today, keeping an eye on a news feed for any events that may invalidate the trade. Happy trading.