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GBP-TRY

GBPTRY test the 0.5 FIb 🦐GBPTRY on the 4h chart after the recent impulse retraced at the 0.5 Fibonacci level. The market starts to consolidate ove a minor support and according to Plancton's strategy if the price will break above we will set a nice long order –––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h structure. • ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
2
GBPTRY: Short opportunity within a Descending Triangle.The pair is comming off a rejection on the Lower High trend line of the 1M Descending Triangle (RSI = 60.943, MACD = 0.510, Highs/Lows = 0.000). Based on the previous Lower High made and the RSI it traded, we are expecting a stronger decline towards the previous low. Our sell Target Zone is 6.87000 - 7.00000. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Short
by InvestingScope
2
Global bond yields fall over fears of an economic recessionBond yield inversion Bond yields across the globe continued to decline this week, as bond traders offered the strongest indication yet that a global economic recession may be coming. The US ten-year bond yield dipped below the yield of the three-month Treasury bill for the first time in over seven years, while German and Japanese 10-year bond yields continued to plummet. Traditionally when Treasury yields start invert, the bond market is offering a signal that an economic recession is nearing. Financial markets also become fearful about the economy when yield inversion occurs, as bank lending becomes more difficult when short-term rates are higher than longer-term yields • The USDJPY pair is bearish while trading below the 110.90 level, key support is found at the 109.70 and 108.80 levels. • If the USDJPY pair trades above the 110.90 level, buyers may test towards the 111.10 and 111.68 resistance levels. RBNZ turn dovish The New Zealand dollar fell sharply lower against the US dollar and the Japanese yen currency this week after the Reserve Bank of New Zealand struck a dovish tone towards future rate increases. RBNZ Governor Adrian Orr said that the next rate move would likely be lower, as below trend inflation and worsening global growth weighed on the New Zealand economy. The change in policy language was seen as a major shift for the New Zealand central bank, who previously held a neutral stance towards rates. The NZDUSD pair tumbled on the news, as traders priced-in a rate cut from the RBNZ coming as soon as the third quarter of this year. • The NZDUSD pair is bearish while trading below the 0.6840 level, key support is found at the 0.6740 and 0.6685 levels. • If the NZDUSD pair trades above the 0.6840 level, buyers may test towards the 0.6860 and 0.6890 resistance levels. Brexit uncertainty increases The British pound remained volatile against the US dollar, and the Japanese yen this week, as UK lawmakers failed to find a way forward for Brexit. British Prime Minter Theresa May signaled that she would step down as Prime Minister once she has delivered Brexit for the people of the UK. The House of Commons Parliament continued to reject the third vote of Theresa May’s Brexit plan, despite being unable to reach an agreement on an alternative Brexit deal. The GBPUSD pair struggled to find buying interest above the 1.3200 level and settled back toward the lower end of its medium-term trading range. • The GBPUSD pair is bearish while trading below the 1.3100 level, key support is found at the 1.2975 and 1.2660 levels. • If the GBPUSD pair trades above the 1.3100 level, key resistance is found at the 1.3260 and 1.3388 levels. Lira’s woes continue The Turkish lira fell against the US dollar this week after the Central Bank of the Republic of Turkey attempted to raise transaction costs in order to stop speculators short selling the nation’s currency. Traders looked past the action and sold the Turkish lira, as data revealed that the central bank had lost ten billion US dollars in currency reserves in just three weeks. The Turkish lira had plummeted by over five percent last week against the greenback, over fears about continued economic stresses inside emerging market economies. • The USDTRY pair is only bullish while trading below the 5.6454 level, key resistance is found at the 5.8445 and 6.1000 levels. • If the USDTRY pair trades below the 5.6454 level, sellers may test towards the 5.4220 and 5.2200 support levels.
by OctaFX_Official
GBPTRY: Triangle sequence showing sell towards 6.5100.The pair has been trading on a strong 1W downtrend (Highs/Lows = -0.4121, B/BP = -0.5351) that recently appears to be slowing down. This may be an indication of a support on the 1W level (6.2070 - 6.5610). However a sequence of repetitive Triangle patterns illustrates that at least a -3.54% decline is expected to follow the completion of the most recent Triangle. This puts our short TP at 6.5100. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Short
by InvestingScope
2
GBPTRY Pound-Sterling Not So Strong Entering 2017Follow up on my idea about weak GBP in the last month of 2016: Major GBP pairs (GBP/JPY, GBP/CAD, GBP/NZD, GBP/USD) all experienced decline on Monday, 28 Nov, with most of them hitting resistance levels which are too strong to be broken despite the major GBP increase throughout November. With UK appealing against the court decision on Brexit, GBP could see drop in value until a final decision is made (expected to be made in 2017 with appeal starting on 5 December). Technical indicators also show weak bullish signals with RSI, MACD, Resistance line and Fibonacci levels all suggesting a likely decrease in the following weeks.
Short
by DzhuneytYusein
3
TRYGBP bearish Gartely supported by long term resistanceCD leg with a 1:1 ratio with the XA leg falls into the blue region shown on the graph (which is also a confluence of the 0.786 retracement and 1.272 extension, so will look for this as an entry point . Stop loss is based on previous structure support as shown by the horizontal red line. Not only is this a nice Gartely, but we also have the entrance point on the line of long term resistance , as shown by the black line (zoom out to see more). For this reason, we may see a much larger drop than the initial price targets. RSI is nearing an overbought state.
Short
by olly_price