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Brexit

GBPUSD-Weekly Market Analysis-Nov20,Wk1Base on the Fundamental Analysis, I'm still bullish on GBPUSD, although the Technical Analysis doesn't show a prominent setup of such. On the 1hourly chart(link at the bottom), there was a bullish bat pattern setup and the market check-back, just that it did have a break and close below X which can be a concern for traders who are looking for buying opportunity. On the M15 chart, we do have a Deep Gartley Pattern which completes at X. Although for the setup to complete it will most likely break and close below the trendline, the only attraction it has is that it produces a Great Reward is to Risk Ratio.
Long
by RaynLim
Short GBPJPYHere's an update from the last GJ post. Still short & it's looking like the pattern is playing out. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Short
by Mayfair_Ventures
2
GBPUSD Retrace Sell SignalGBPUSD is currently in this upwards channel but my bias is still to the downside long-term. Red thick line: Main up trend line Red dotted line: 4hr up trend line Price has tested the backside of the daily up trend line and bounced off nicely. Expecting price to go back towards the 4hr up trend line. Entry @ 1.3075-1.3100 TP @ 1.3000 After we hit the bottom of the channel we will reevaluate to see how price reacts to this level to continue trading. Good luck and let me know if there are any questions. Charles V CVFX Management Trading made Simple
Short
by cvfxwealth
3
ridethepig | Buy EURGBP expecting GBP outflows📝 EURGBP While the single currency block continues to work together on Covid the UK is as divided as ever, from Scottish independence to the North / South divide. Faster Macro data has started to tick back down in Europe and the UK. We are going to see a decline in activity once more into November and with Brexit still to come this will hurt the UK more in the immediate term. On the technical side, the break of 0.915x is encouraging for bulls and opens up in the near-term a test of 0.927x. I would also like to leave core positions running for the inevitable test of parity. Keep a close eye on 1.294x for those in GBPUSD. Thanks for keeping the feedback coming 👍 or 👎
Long
by ridethepig
3
Fractal failurePrice failed to complete a fractal on 2 weekly chart and is moving away from it. Things started to go wrong in July last year...something to do with Brexit and this "wrong bias" keeps going... We see accumulation above the failed fractal and price is likely to push higher making higher high. THIS IS NO TRADE SETUP BUT GENERAL OUTLOOK TO IDENTIFY LONG TERM BIAS. as many cant make sense of whats going on with this messy pair. Top Absolute Correlation 1 WEEK 1 EURGBP - GBPCHF -93.6% 2 EURGBP - EURCAD 90.3% 3 EURGBP - GBPSEK -88.5% 4 EURGBP - EURSGD 86.0% 5 EURGBP - XAUGBP 84.9% 6 EURGBP - CADCHF -83.9% 7 EURGBP - EURMXN 83.8% 8 EURGBP - CHFSGD 83.6% 9 EURGBP - NOKSEK -83.5% 10 EURGBP - USDRUB 82.4%
Long
by ICFX
Short GBPJPYBrexit and Covid 2.0. No real need to say much else. However, we are in a Daily wave 4-5 of an Elliott wave. We should see a little pullback and a bigger drop. COT data also major short the GBP and net long JPY. There were key turning points in the Cycle indicator on the 5th, 10th and 15th - next is the 23rd, to the 29th. Let's see where next. Suprised if it gets to 137.85 now (low volume node) given the other data. Just waiting for UK Govt to come out with a crazy statement and GBP will sink. Good luck. Disclaimer This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Short
by Mayfair_Ventures
3