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Cable

Joe Gun2Head Trade - Time to Buy Cable?Trade Idea: Buying GBPUSD Reasoning: Speculating on a short term bounce. Trading at a 61.8% Fibonacci level on the daily chart Entry Level: 1.2554 Take Profit Level: 1.2861 Stop Loss: 1.2488 Risk/Reward: 4.5:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Long
by Signal_Centre
1
GBPUSD TO 1.3 BEFORE ANOTHER DROP?GBPUSD broke below 1.3 because of the UK PMI negative news, now looking for a potential pullback at 1.3 to short cable down to 1.27 Next week will be very volatile as thethe four largest U.S. companies by market capitalization: $AAPL, $MSFT, $AMZN & $GOOGL will report Q1 earnings! and this is something you don't wanna miss out if you are interested to trade this setup. You can see here the trend of both DXY & BXY , DXY is clearly trending up against the BXY.
by dogofwallstreets
2
IS CABLE DOUBLE BOTTOM ENOUGH FOR BULLISH RUN?The cable has been in a downtrend, however, for the past six weeks, GBPUSD has not closed below 1.30597. Any time price goes past this level, buyers have always send price up! Is 1.30597 a significant level in a channel? NOTE: 1. This is a reversal trade and more risky but highly rewarding 2. This is a pattern trade 3. Short trade on GBPUSD advisable, after the pullback. N.B - Let emotions and sentiments work for you -ALWAYS Use Proper Risk Management In Your Trades
by BullBearMkt
GBPUSD 15th APRIL 2022This is the technical analysis of GBPUSD H4. Based on chart pattern analysis. We can find a triangle and wedge pattern, The direction of the trend is sideways tends to be bearish, there are economic data to be released, prices will fluctuate. we can take this opportunity to take a buy low - sell high : 1. The price is still moving in the pattern area. 2. Moderate buy action is possible, the price has retesting triangle area. Risk : The UK economy does not seem to be in good shape relative to the U.S. with consumer confidence on the decline, rampant inflation and the end of free COVID-19 testing could add to negative data prints to come. A weaker than expected figure could add to bearish bets on the cable pairing.
by DNP-FX
3
WEEKLY LOOK ON GBPAUD - ELLIOTT WAVE ANALYSISHi Ellioticians, GBPAUD weekly time frame suggests a big, bearish, three-wave move to the downside from the 2.71 high. We labeleld a completed impulse in A, followed by a possible completed triangle corrective pattern in wave B, at the 1.954 lvl.. This year's sharp decline, and a break below the lower triangle line is a suggestion that the triangle correction can be completed and wave C underway well below the 1.442 lvl. in years to come. That being said, a break below the 1.744 swing low will be another indication that the GBP is weakning in years to come. The alternate scenario suggests another complex correction to be underway in red wave B. Trade well.
by Gravity33
2
GBPUSD 22nd MARCH 2022 The BoE has raised interest rates by 25bps. But that's not enough to make the bullish sentiment towards GBPUSD going forward. we already know the FED has also raised interest rates by 25 bps. but interest rates are not the only reason when compared to the macro economy, even though inflation is crazy, American fundamentals are still better than British fundamentals. We can see on the D1 chart, support area is now resistance. technically GBPUSD will be bearish this week
Short
by DNP-FX
2
GBP USD - FUNDAMENTAL DRIVERSGBP FUNDAMENTAL BIAS: NEUTRAL 1. Monetary Policy Hawkish surprise with a hint of dovish undertones sums up the Feb BoE decision. The bank announced the start of passive QT and hiked rates by 25bsp as expected, but the vote split was unanimous (9-0) but with a big hawkish surprise being 4 MPC members voting for a 50bsp hike. Inflation forecasts saw a big upward revision to a 7.25% peak by April ( prev . 6.0%) & 5.21% in 1-year ( prev . 3.40%). This initial hawkish statement saw immediate strength for GBP but during the press conference the BoE tried their best to get a dovish landing. Gov Bailey started his opening remarks by noting that the MPC’s decision to hike was not because the economy was strong but only because higher rates were necessary to return inflation to target, and even though he opened the door for further hikes he added that markets should not assume rates are on a long march higher. He also acknowledged the stagflation fears recently voiced by some market participants by saying that policy faces a trade-off between weakening growth and higher inflation . Despite the dovish nuances, STIR markets still price an implied cash rate of 1.0% by May which would mean a 25bsp in both March and May (1.0% is the level the BoE previously said they would being outright Gilt selling). Overall, the statement was hawkish, but the clear dovish undertones from the BoE was a bit surprising and also a bit worrisome for the future outlook. 2. Economic & Health Developments With inflation the main reason for the BoE’s recent rate hikes, there is a concern that the UK economy faces stagflation risk, as price pressures stay sticky while growth decelerates. That also means that current market expectations for rates looks way too aggressive and means downside risks for GBP should growth data push lower, inflation stay sticky, or the BoE continue to push their recent dovish tone. 3. Political Developments Domestic political uncertainty usually leads to higher risk premiumsfor GBP, so the fate of PM Johnson remains a focus. Fallout from the heavily redacted Sue Gray report was limited but with growing distrust from within his party the question remains whether a vote of no-confidence will happen (if so, that could see short-term downside), and then focus will be on whether the PM can survive an actual vote of no-confidence, where a win should be GBP positive and negative for GBP if he loses. The Northern Ireland protocol is still in focus with the UK threatening to trigger Article 16 and the EU threatening to terminate the Brexit deal if they do. For now, markets have rightly ignored this as posturing, but any actual escalation can see sharp downside for GBP. 4. CFTC Analysis Friday’s most recent CFTC data showed GBP positioning deteriorated across market participants with big netshort increases for large specs and asset managers, while leveraged funds were more reserved in their reduction of their Sterling net-long (biggest amongst the majors). Who needs to capitulate among these? Given how stretched the recent downside has been, leveraged funds might be better positioned going into the BoE. USD FUNDAMENTAL BIAS: BULLISH 1. Monetary Policy The Jan FOMC decision was hawkish on multiple fronts. The statement signalled a March hike as expected, but Chair Powell portrayed a very hawkish tone. Even though Powell said they can’t predict the rate path with certainty, he stressed the economy is in much better shape compared to the 2015 cycle and that will have implications for the pace of hikes (more and faster). Furthermore, he explained that there is ‘quite a bit of room’ to raise rates without damaging employment, which suggests upside risks to the rate path. A big question going into the meeting was how concerned the Fed was about recent equity market volatility . But the Chair explained that markets and financial conditions are reflecting policy changes in advance and that in aggregate the measures they look at isn’t showing red lights. Thus, any ‘Fed Put’ is much further away and inflation is the Fed’s biggest concern right now. The Chair also didn’t rule out the possibility of a 50bsp hike in March or possibly hiking at every meeting this year, which was hawkish as it means the Fed wants optionality to move more aggressive if they need to. We didn’t get new info on the balance sheet and Powell reiterated that they’re contemplating a start of QT after hiking has begun and they’ll discuss this in coming meetings. Overall, the tone and language were a lot more hawkish than the Dec meeting and more hawkish than consensus was expecting. 2. Global & Domestic Economy As the reserve currency, the USD’s global usage means it’s usually inversely correlated to the global economy and global trade. The USD usually appreciates when growth & inflation slow (disinflation) and depreciates when growth & inflation accelerates (reflation). Thus, current expectations of a cyclical slowdown (and possible stagflation) are good for the Dollar. Incoming data will be watched in relation to the ‘Fed Put’ as there are many similarities between now and 4Q18, where the Fed were also tightening into a slowdown. If growth data slows and the Fed stays hawkish it’s a positive for the USD, once the Fed pivots dovish that’ll be a negative for the USD. 3. CFTC Analysis The USD remains a net-long across major participants, but with price action looking stretched and with peak hawkishness for the Fed arguably close with >6 hikes priced, the risk to reward of chasing USD strength is not very attractive right now. Continued stagflation and geopolitical risks it mean that stretched positioning might not be as important as usual. JP Morgan also shared some stats that suggest the USD has a historical tendency to strengthen in the 6 months going into a first hike but then to weaken during the 6 months directly after a first hike. This is an interesting phenomenon which is worth keeping in mind given the USD’s recent performance.
by thunderpips