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Gbptrades

Making The Right Decision On RE hit highs..Hey Traders, So the pound is going for a third hit in quick succession on a prev resistance zone. UK GDP news today did little to move anything at all and did not come at a suprise like the last inflation report and reaction from the UK Central Bank BOE.. WHY? Because there is no major downside sentiment whacking it down. That's why. Markets need impetus to make moves and you are lacking it at the moment. That is why falls have not been vicious and quickly rejected a local PA zones to the downside. There's no reason for it and not enough Poor GBP sentiment. We can however wait for a sentiment inflow to attain better prices. That means if you are looking short you must do so lightly especially as the level also contains ONLY weak PA. We can use our Key MA's smartly to determine where price is returning to reality off from the last harsh fall and fast rise. Closer to higgher MA's = better shorts and vice versa. The bottom Line as a channel on the chart describes where we can look to RE long on PA bounces. And absolutely you are too late and do not want to be a buyer. These are previous highs and not previous lows and you are getting a far worse deal than if you were buying on a fall of 1/2/3% to the downside. Remember, you want to pick up a good deal and you do not want to be on the bad hand inside the GBPUSD Market. Looking for shorts nearer circa 1.26+ Longs down lower nearer 1.20 Risk Averse.
by WillSebastian
The Pound And The ReboundHey Guys, When looking at the pound rebound you are going to need to understand the natural sequence and move of any market. Markets pull back and you'll need to be in when there is room. It is no good trying to squeeze a desperate trade in at the end of 4 months of upmove and hoping for the best... If you are buying highs you naturally trade against key market rules and things get hairy. And we don't like it that way. So make a good decision on the validity of price! We will learn this rule and also see the current market mood for GBPUSD. Watch For More.
by WillSebastian
3
GBPJPY Week AheadGJ is on an uptrend on the weekly time frame within an ascending channel On the daily timeframe - GJ is pulling back from highs and is trending down 3 Trades Ideas for GBPJPY 1. Bullish bias - If price rejects the previous resistance level @ 152.30 and past 153.30 (previous highs) then we would see a break of the downtrend structure and expect price to continue up 2. Bullish bias - If price continues down to the bottom of the ascending trend line and rejects then again we would see a break of structure (BOS) above 153.80 towards 155.30 (50% fib) or 156 (618% fib) 3. Bearish bias - If price breaks below 152.40 - 152.30 then we could see a continued downtrend especially if we see closures below. Then targets would be next support @ 151.35 then 149.95 News this week UK jobs numbers on Tuesday @ 7am GMT - gains in employment will be bullish for the Pound UK Inflation data on Wed morning 7am GMT - BoE upper limits are 3% for inflation, Forecasts are 3.9% which could further fuel bets of a rate hike which would be bullish for the Pound
by mikip88
British Pound Declines with Brexit DenialBritish Pound Declines with Brexit Denial Uneasy predictions from last week came to life as the British pound fell against its competitors. UK Prime Minister Boris Johnson paused the Brexit legislation when the House of Commons rejected his government’s timetable. Johnson then threatened to throw out the deal if legislators dismiss his plans to withdraw by October 31. GBP/EUR stumbled by 0.03% at 1.1566 as the market still expects a non-fatal setback to a negotiated Brexit. The British currency fell behind the yuan by 0.11% at 9.0986 from the US-China trade front. Investors anticipate positive outcomes for Phase One at the Pacific Economic Cooperation Summit in November. At the same news, the GBP/USD pair dropped by 0.06% at 1.2864. Regardless of trade war quietness, the American market is not going so well against some Asian counterparts. Facebook revealed it would not censor politicians who spread disinformation, weaponize racism, and use voter suppression tactics. Consequently, a Cambridge analyst labeled the social media company as the “biggest threat to global democracy.” The USD/CNY fell 0.03% at 7.0739 on early Tuesday, while the USD/JPY pair declined as far as 0.08% at 108.38. Positively, the USD/HKD pair inched higher by 0.01% 1.8429. The Prime Minister Demands More Prime Minister Johnson threatened to throw out the Brexit deal if legislators discard his British withdrawal by next week. Democratic Unionist Party legislator Sammy Wilson said his party would not support the exit in its current form. He claimed some parts of Johnson’s current proposal was “unacceptable.” German Foreign Minister Heiko Maas said the EU needed to think about their plans once they permit the extension. Johnson demanded a general election if he would be forced into a three-month delay into Brexit. Labour spokesman Richard Burgon said his party would support a general election if the EU does agree to an extension. The party offered to work with the government to come up with an alternative timetable for Brexit. Former leader of the Conservative Party, Iain Duncan Smith, said he’d rather have an election than extend the Brexit timetable. Foreign-exchange strategy head Shahab Jalinoos said if an election leads to market certainty, he will accept it. Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. Subscribe now and receive FREE updates on the market today!
by Financebroker
GBP/USD Small Short Before Long or Maybe Just Long From Here?I really think GBPUSD is set to go long! Regardless of the whole Brexit deal going on. I really see a lot room for bullish activity on this pair. I can see some support being built up and some bearish trend lines have been broken. Overall this pair still has the potential for going down a little further. Money management will be a key factor here. Because you could wake up in a complete down draw based on news headlines alone!
by ProfxCapital