A good Risk Reward trade in GBPUSDCurrently forming a running flat structrure but be careful it may even transform into an expanded flat
Pounddollar
GBPUSD is on a crucial price point. DO NOTHING We can see here that it goes up by 100 pips after it goes down up to 1.255 last Friday. This is not a signal for us to do anything because there are tough days ahead especially Theresa May's resignation date is coming this week. With NonFarm Payrolls and all of the high impact news this week, I would prefer watching Netflix than risking my equity onto this trade.
Be careful traders and always follow the correct Risk Management so that we can always live the next day.
Pound Still Taking A Pounding? - Ichimoku GBP/USD Short TradeThe Pound has fallen drastically with all of the Brexit drama unfolding. As May steps down as Prime Minister there will likely be more uncertainty ahead as a deal or referendum waits to be hashed out. I am looking for a rejection here at kijun sen for another chance to sell as we look to take advantage of this goliath bearish trend. If we find that good rejection candle I'll enter a sell and I've drawn out a few targets I'll be aiming for to take partial profit at along the way. However, if we fail to get rejected at kijun or our bearish signs start to change, this setup may become invalidated.
GBPUSD might turn bullish if it passes 1.265 mark We've seen the Pound Dollar dancing 70 pips yesterday, and the market is on the panic. However, it is just below 20 pips since my previous analysis yesterday. Be careful on this day up to the next few weeks because it is been bloody for the GBP market following the resignation of Prime Minister Theresa May.
Overall, the market bias is still bearish and it might go down up to 1.25 - 1.24. If you are holding a buy trade on this one, pray harder.
Manage your risk well. Golden Rule is 1 - 5% of your target equity to be traded and cut it if it passes the 5% - 10% mark
GBPUSD making first elliot waveAs GBPUSD was falling very hard from last few days because of some fundamental news specially braxit issues,
but now we can see a better reversal and first Elliot wave will start forming here
So You can just fly with the flow on GBP, i will never recommend long term trades but keep getting small profits with small exits, its better idea rather than risking heavy funds
GBPUSD Potential Long PositionAfter careful analysis i believe the gbpusd to be reversing and pushing back up
ShortGBPUSD is forming an expanding triangle in the daily chart. So this structure tells us that
this currency pair is in a down trend right now. I won't recommend anyone to short this currency because taking a short position right now would be a high risk, instead we should wait for the price to form a corrective structure or a pullback then sell this currency pair.
Pound Dangers Still Strong Bearish ?As you see on the chart H4 above, GBP USD still inside on the bearish channel....
GBPUSD PENDING BREAKOUT AND RISE!Hi fellow traders!
GBPUSD is currently trading around 1.31100.
It has the potential to rise all the way up, following the current EU summit taking place right now.
If the UK is granted an extension, this will rule the chance of No Deal out, which will allow the £ to strengthen.
Hopefully if it is a short one, it would be better as it would allow the UK to leave as early as possible to get rid of the issues regarding the European elections.
Taking a look at this pair from a technical perspective, it should look to rise if the pair does break out from the structure drawn.
I believe this pair could easily skyrocket towards 1.32000 and beyond if the extension is granted, as it gets rid of business and economic uncertainty for the UK.
I think it would still be a good idea to keep a tight stop loss on this pair as we don't know where the news regarding this could go.
Fingers crossed there is an extension!
Good luck trading.
If you read it to all the way down here, thanks for showing some support to this article! Tell me where you think GBPUSD will be heading next! Comment below all your ideas about the future of the Pound! Buy or Sell and why? Additionally, drop me your charts/ideas for it, that'd be great so I can see where you are coming from. I'm a new guy to the FX, Stocks & Crypto market, and I'd appreciate any help people may offer!
Please drop a follow/like! I need reputation points!
Cable Former Levels of Resistance as SupportI guess one of the only non-political comment that you could make on this chart is to look for those former levels of resistance as support. But also though, to what degree is a deal priced in? Are Brexit deal fully priced into the cable? Staying clear of this pair. No hedgefund algos on my side. Good luck to Blackrock since they probably have the edge on this one like in June 2016.
GBP Waiting for a push back to 1.32A very clear and active trade on GBPUSD as per technical and fundamental analysis.
Open Buy Order at: 1.3014
TP1: 1.3188
TP 2: 1.3247
SL: 1.2957
Do open your long trade with a proper money management and book some good profit on intraday trading
Brexit Vote Could Lead to Potential Upside BreakoutMuch of the trading is focused on ranges as opposed to breakout with follow through potential. Moreover, while technicals are quite insightful to herd psychology, the fundamentals will be driving markets going forward in the next 24 to 48 hours ahead of us. This includes assets mostly affected by ongoing themes, such as the pound (GBPUSD) which has primarily been driven by Brexit. Luckily for those looking for a less choppy trading environment, traders will have significant clarity given to it with the upcoming votes in the House of Commons which will see if Theresa May can exchange her position as prime minister in exchange for other conservative members to vote for her bill that they had already rejected twice. Given reports that members of her party who were once against the bill may be for it like former Foreign Secretary Boris Johnson, the chances of a no deal Brexit have swung wildly in the other direction away possible hard accidental no deal Brexit towards a potential deal. But if this is not passed, then it is difficult to see Parliament agree upon any deal that the EU would be okay with. In spite of this, most analysts believe that a deal will be done even if the House of Commons does not pass May’s deal. Either way, GBPUSD has priced in a deal and volatility has significantly stalled.
For a few more words on the matter and EURUSD, check out anthonylaurence.wordpress.com
Pound Sterling Massively Overvalued if No Deal Brexit We are fast approaching a conclusion to the Brexit story. While no deal Brexit chances greatly increased over the past week with a short extension of April 12th, UK Parliament is still weighing over whether or not to pass May's deal, a rejection of which would even further heighten the chances of a no deal Brexit. If the House of Commons can pass May's deal, then a major crisis is averted and pound sterling may trade at higher levels or may stay muted as a deal between the two is largely priced in. If however a deal cannot be concluded and pound sterling dollar is overpriced, then we can expect to see dramatic swings lower in this pair as a no deal Brexit would certainly bring chaos to the foreign exchange and equity markets.
The politics of this situation are a bit tricky. Both sides want a deal which incentivizes some amicable conclusion to this. However, such a deal is not necessarily in the offing. Shorter duration trades could be made to the upside, but the politics remain key in price action since economic indicators and technicals are being dominated by the headlines. Much more analysis on how the politics could play out here: anthonylaurence.wordpress.com
The UK Won’t Sign the Divorce Papers, Pound Will SufferAn April 12th deadline is now looming above the heads of Europeans and the British as the UK find themselves situated as the estranged husband who refuses to sign the divorce papers. Right now there are six main scenarios:
1)Revoking Article 50 and cancelling Brexit
2)Another referendum
3)May’s deal plus a customs union
4)May’s deal plus both a customs union and single market access
5)A Canadian-style free trade agreement
6)Leaving the EU without a deal
Beyond these six main scenarios, there are subplots being played out primarily including the 1 million person strong march over the weekend and most scandalously the claims that some members of May’s government are making a play against May to become Prime Minister.
Meanwhile with the pound against the dollar, the currency pair endured the dreaded ‘death cross’ last week where the 50 day moving average crossed over the 200 day moving average indicating a technical signal for a downtrend. Overall, daily technicals like moving averages suggest we are trending up. This is the case. However, this currency pair HAS NOT priced in the chance of a no deal Brexit. This will be to the detriment of traders just looking at technicals despite how important they may be.
For more analysis please check out www.anthonylaurence.wordpress.com
GBPUSD - Bullish Minor 3 - March Wave Counts - Part 6If you like my work, please support me with a like.
More details in my signature.
Many pips ahead!
May Just Announced Short Extension to the EUThree more months is what's being asked for by May as the UK attempts to muddle its way through this going on three years long political fiasco. I'm sure you're more interested in the technicals, so here's my read: stay away. I won't trade this until there's some sort of a clearer picture of the direction of where Brexit is heading. Right now though, I'm incredibly bearish based on the fact that we are closer to accidentally crashing out the EU with no deal at all than what we are with the UK and the EU coming to an agreement within three months. Imagine if they did come to an agreement that was 1) actually economically sound for both the UK and the EU within three months and that 2) Parliament agreed to vote on. Imagine if that happened in three months after three years of negotiations. It would be the most incredible act of diplomacy, negotiating, and skillful politicking in the history of the UK by far.
My friends, I implore all of you to take a look at Bloomberg's story on the Big Brexit Short. I think it may change the way you view trading this pair and the way price action is moving which is by the way, let's be honest, mostly driven by hedge funds. Here's the link to the Youtube video: www.youtube.com its worth the watch.
GBP/USD daily overviewDuring Friday’s trading session, the British Pound depreciated to the 1.2950 level. On Monday morning, the European Single Currency was located at the 1.2999 mark.
In regards to the near term future, most likely, the currency exchange rate will be trading sideways to stay at the 1.3000 level during the day.
On the other hand, the US Dollar might appreciate against the British pound during today’s US Retail Sales and Core Retail Sales data release at 12:30 GMT to fall to the monthly S2 at the 1.2905 level.
GBPUSD SHORTAs I mentioned in last weeks post, we are currently testing that 1.29-1.30 support. This area is going to be extremely crucial in determining what comes next but I am expecting a retest of the 1.305 ish price mark before a continuation of the downtrend. The MACD bearish Divergence is now currently confirmed signaling the just now start of that downward trend. The break of the trend line indicated will see us looking to retest the 1.28 zone which may or may not hold and failure to do so will find us headed back down to the 1.26-1.24 range. With HEAVY GBP and BREXIT news next week, I expect a crazy amount of volatility so we want to be very careful trading GBP pairs.
Remember, patience is KEY! GL
DISCLAIMER!!!!
My Ideas are mine and mine alone and are only to provide my perspective of the current market situation. Do not take my posts as trading decisions for entries or exit. Trading the FOREX market is very risky and indulge in it at your own risks!
Bullish Cable againThe British pound is ending the month of February with a bullish move, up 0.50% after rumors of brexit delay in case a deal cannot be agreed on before end of March; offering some market relief and helping GBP/USD recovering almost all its February decline.
Looking at the chart, the pair is trading above its main MAs which indicates positive momentum. Also broke a downward trend line capping upward movement since May.
Plus, trade optimism between China and the US offered some more market relief.
Technically: the trend is neutral to bullish - next resistance being 1.316 (Feb high, 240 Day SMA) , followed by 1.322 (Jan high, 100 Week SMA).
Trade Safe.
The Pound set to continue its declineThe dollar continues its advance. Investors see a global slowdown but figure the US economy to be the biggest and strongest so they put their bets on it coming out ahead. Trump has signed a shutdown avoidance agreement but is now pushing for a national emergency in order to siphon funds from the budget agreed on by congress. Very sticky situation that could lead to a fall in the dollar if the funds are misappropriated.
The pound is continuing its decline. We see more turmoil than solutions being propagated in the UK. Prime Minister Theresa May faced hardships yet again from her Parliament when they refused to endorse her return to the EU negotiating table. Who will be in charge of the negotiations remains to be seen but we remain bearish on the whole situation because the deadline is quickly approaching.
We look towards the employment data set for the UK on Tuesday to figure out if inflation will stay within the bounds of the mandate the Bank of England. This data is important, it shows us if the BoE might change its monetary policy because of sharp declines in employment or earnings. After all this data is compiled, we will see an inflation report on Thursday.
Technical analysis shows us that the pound will likely continue its descent. Two doji candles indicate that despite a good data set from the UK the pound is not ready to climb back to previous highs. The price crossed over the 21 EMA and remains under the 200 EMA. A support level at 1.26734 is a good level to put target take-profits.
