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Pound

The pound is going to meet 1.00000Hello friends, I hope you are well Reasons for the downward movement of the pound: 1. The triangle at the end of the trend is broken from the bottom side and it can be called as a trend continuation flag. 2. The dollar is strong at key support and buying expectations are rising, pushing the pound lower. 3. After breaking the chart, the price of the pound moved up and it can be called a rest and entry point. 4. The British economic situation shows almost no resistance to the fall of the pound. SL (1.136) TP1 (1.098) TP2 (1.07) TP3 (1.046) Good luck.
Short
by Money_hunters
GBP/USD analysis: Sterling is no longer supported by gilt yieldsFor most of 2022, currencies were helped by rising yields on short-term government bonds. When looking at the UK bond market, rising gilt yields have reflected expectations of future interest rate hikes by the Bank of England, but ultimately they begin to incorporate more political and fiscal risks into their rate premium. Given the turbulent political climate in the UK over the last two months, the volatility of UK gilts has been exceptionally high. Liz Truss announced her resignation as British Prime Minister on Thursday, following a hectic 45 days in office that included a gilt market crash and a U-turn on her budget proposals. The most recent economic data, meanwhile, continue to paint a gloomy picture. September UK retail sales fell 6.9% year-on-year, a sixth consecutive monthly decline and worse than market expectations of a 5.0% drop. The GfK Consumer Confidence indicator went up a little bit to -47 in October, but it was still close to a record low of -49 in September. The pound is now behaving differently than the yield on 2-year gilts. Rising gilt yields now reflect not only the inflation/interest rate environment, but also the higher investors' uncertainty about the stability of the UK bond market. Episodes of rising gilt yields over the past few weeks have been correlated with a weaker pound. This playbook can be expected to continue in the coming months. If 2-year gilt yields were to surpass the 4% threshold once more, this would likely put downward pressure on the pound, which could eventually test and break below 1.10.
by Capitalcom
GBPUSD: 2 Scenarios Explained 🇬🇧🇺🇸 Since Tuesday, I am holding a short position on GBPUSD. Important decision is ahead. Analyzing the intraday perspective, I spotted a head and shoulders pattern on 12h time frame. 1.115 - 1.118 is its horizontal neckline. If the price breaks and closes below that, the pair will most likely drop much lower. Next support will be 1.097. If the price respects the underlined neckline, the pair may bounce. The closest resistance will be a major falling trend line on a daily. Those who want to buy cable, should wait for its bullish breakout (daily candle close above). It will trigger a bullish continuation to 1.147. I am bearish biased and wait for a bearish trend continuation. But lets focus on breakout. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
5
💷The pound is getting up on its feet💷💶Eur/💷Gbp analysis Eur/Gbp analysis 🚀In recent days, we have seen a massive purchase of the British pound following a speculative attack on this currency. 🚀It seems that the Euro has lost significantly compared to the British Pound. The price of the Eur/Gbp was pulled back to the levels before the massive breakout, which could be caused by the interference of the central bank. 🚀From Friday's information readings, for the first time in history, inflation for the euro area has become two digits and is as high as 10%. The main component of the infomation is the increase in energy prices in the Euro zone. 🚀It is also worth noting the increase in the unemployment rate in Germany, which already amounts to 5.5% 🚀The increase in market interest rates in Great Britain, forecasting that the interest rate in Great Britain could reach 6% next year, had an impact on investors and the British Pound became an interesting asset. 💵 Do you like the analysis? Follow the profile 💵
Short
by InvestMate
9
GBPCHF: Pullback From Key Level 🇬🇧🇨🇭 On a today's live stream with my students, we took a long trade on GBPCHF. The pair is coiling on a peculiar confluence zone based on a horizontal stucture and 382 retracement of the last bullish impulse. The price formed an ascending triangle formation on that structure and broke its neckline then. Probabilities are high that the pair will reach 1.133 / 1.135 levels soon. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
13
GBP/USD has broken its upward trend line!From the point of view of technical analysis, GBP/USD has broken its upward trend line in the one-hour timeframe, and now the parity ratio is below the simple moving average of 55. Further, as long as the rate is below the 1.13165 resistance area, sellers have a high advantage to push the parity ratio below the following supports, respectively: 1- Corrective Fibo support of 38.2% AB wave. 2- 50% corrective Fibo support of the AB wave, which exactly overlaps with the simple moving of 200. 3- Corrective Fibo support of 61.8% of the AB wave.
by MonoCoinSignal
6