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Sterling

EURGBP potential SELLIt is possible that EURGBP will continue its H4 downtrend to the lower support zone (around 0.888). The market is making lower highs and lower lows which is by definition a downtrend. A medium-to-large sized bearish candle closing below 0.89377 will be the signal to place a SELL on this currency pair with a stop loss placed just above the previous high (SL = 0.89718). As always, MANAGE YOUR RISK!! Control your lot size so a stop loss hit will only depreciate your total account size by 1%. Follow me to receive my notifications! Have a good weekend!
Short
by Progression
3
GBPAUD long continuation 200+ pips opportunityPound has been recovering for some time already, but since making double bottom pattern and forming new/old support at key daily confluence level we got that much wanted last swing high breakout. Pair is aiming towards 1.84 level, which is next vital area to look at. GBP is banking some gains since equities and markets cheer risk on sentiment. Aussie seems to slow down a bit, while GBP has more room to go upwards. It's too soon to call some wind change and new dircetion for this pair both due fundamental and performing issues which are stopping GBP for further apprectiation vs risk on currencies in this environment (Brexit, economic outlook), but some positive signs are surely on the way. AUD on the other hand is more exposed to China and it's employement issues which are questioning China's recovery despite industrial and service sector gains. Technicals are corelated with secular and sentiment analysis in short term, so this may be good time to enter longs until we get more confirmation. IDEAS AND LEVELS: Entries above 1.81 with tighter stop loss on momentum ride could be benefitable, but I will wait Monday to see in which direction we will go, so either breakout of 1.82 on momentum or buying the pullback near 1.81 sounds reasonable rather than entering on current levels. If we don't get daily close above 1.81 trade will not be considered. NOTE: Please read info and observations about entires if you consider to go along with the chart. Just like from last ideas I didn't have entries open so some people mistaken analysis with actual trades. Risk reward tool is just visual tool to make chart look more easier to explain in allignment with info written here. Trade at your own risk!
Long
by fxmonarchy
ridethepig | EURGBP Market Commentary 2020.07.08📍 The following position comes after a temporary concession break of 0.90x strong support. After sellers came crumbs away the first time, buyers felt at liberty to allow the breach and trap more on the counterplay. The mysterious trap is coming and buyers wish to occupy the 0.90xx handle rather fast to rule out any cheap entries. At the right moment, we can double down on momentum as price develops . Let me say a few quick words about the birth of this position; it is closely linked to the GBP devaluation via Brexit and the history of protectionism positional plays... First there was the complete control of Downing Street and the Treasury, the "no-deal" hijacking was only possible from this populists. 📌 Then came the stratagem of a covid flank which rendered the first 1.15xx test, sellers could not breakdown without profit taking and loading a second barrel. Moreover, the GBP weakness can be played in the crosses: Admitting the damage of Brexit is worth considering for those still thinking this environment is +ve for GBP. The threat of negative rates would mark the official surrender. Thanks as usual for keeping the feedback coming 👍 or 👎
Long
by ridethepig
14
Still Short on GBPUSD overall structure is still PRESENTShort Opportunity July 7th CONT. Here after review on the higher time frames I have found reason to anticipate a bearish day for the GBPUSD currency pair today July 8th, 2020. As stated on July 7th, I have found a supply/ resistance zone along with price action indicating a significant rally approaching from the 107.500 level. Continued throughout today price retested structure to the upside but failed to hold position, resuming in-line with the price analysis prediction as before. My target today is STILL 1.23600-1.23500
Short
by thecurrencymatrix
GBPJPY Potential BUY @ clear level of supportHi everyone this is my first post, I hope you find this information valuable. GBPJPY has broke and retested a previous support/resistance. I would recommend placing a BUY but ONLY if price action still supports an uptrend when the market opens next week OR if a new bullish price action signal is formed. The market is likely to open below the previous close and may linger around the support before giving a bullish price action signal. I've shown an example of possible Entry, Stop Loss and Take Profit on the chart. I wish you all a good weekend!
Long
by Progression
1
ridethepig | GBP Market Commentary 2020.07.02📌 The affinity between 'resistance' and 'overextension' Light and summery flows continue with GBP in purely technical moves. Very little to update on the fundamental here; a weak macro and political picture persists as activity remains incredibly low in the absence of confidence. There’s a lot of support stacked on the 0.90 🔑 pivot in EURGBP and 1.252x in GBPUSD. Reassessment only required with a weekly closing below/above. => Restraint in the technical sense can be conceived with the presence of resistance; but real total defence which reigns over the whole G10 board and which gives FX markets breathing difficulties, is only possible when risk is in the air. Parking in USD will remain attractive as long as the VIX remains elevated. => From a risk perspective, to what extent, we may now ask, does one need to give their stop breathing room? It is not enough to state the highs will hold as NFP can easily capture the stops and will be highly unpleasant to defend. This means we need to give some room up towards 1.258x as we will have the 1.25 quarters and halves to protect. ⚡️ US DATA PREVIEW: Primary Dealer Nonfarm Payroll estimates - RBC 8.0mn - Natwest 7.2mn - Citi 5.5mn - Morgan Stanley 5.285mn - BNP Paribas 4.5mn - Goldman Sachs 4.25mn - HSBC 4.0mn - Scotiabank 4.0mn - TD 4.0mn - SocGen 3.9mn - BMO 3.5mn - Wells Fargo 3.3mn - Credit Suisse 3.0mn - JPMorgan 3.0mn - BAML 2.8mn - Daiwa 2.5mn - Deutsche 2.5mn - Mizuho 2.5mn - Barclays 2.0mn - Jefferies 1.95mn - Nomura 1.5mn - UBS 1.5mn - Dealer Median: 3.4mn With this in mind, 3m is the headline to track.... undershoots will be positive for USD via risk whereas inline or overshoots will trigger profit taking from the recent squeeze. The ST flows in a technical sense are no less imaginative than the MT and LT swing we traded earlier in the year. As usual thanks for keeping the feedback coming 👍 or 👎
Short
by ridethepig
16
ridethepig | EURGBP Positional Play📍 EURGBP What are we trading here? A counter any false conceptions that we will see a Brexit deal. All headlines produce an immediate effect for trading: wait patiently and quiet and justify fades: Here the static weakness of GBP can clearly be recognised. Any idea of pullbacks into support will be short-lived. These remain our key loading zones with positional swings! - In this case, Buyers will refuse sellers the freeing breakdown to prevent any cheap entries. A ruthless strategy from Downing Street to avoid any extension flanks, and try rather to operate under the premise of No-deal. The strongest hands will be rewarded; one should hang on to the bearish UK story as long as possible. Thanks all for keeping the support coming with likes, charts, comments and as usual keep the feedback coming 👍 or 👎
Long
by ridethepig
15
Trading the Megaphone on GBPUSDGBPUSD is trading within a huge megaphone on the weekly charts starting in late 2018. In June we've taken out the mid-stop range of the megaphone and dropped sharply at that point. I would be cautious looking for further upside at this point. But look for price to hold above the low of the 3rd wave. Holding below 1.238 would suggest further downside. For now, I'm on the sidelines to see what opportunities arise next week. I would love to hear your thoughts on this megaphone as well. Follow for updates and happy trading everyone!
by jan80hansen
GBP/USD Head and shouldersSterling pound is struggling on different levels: 1- BOE disappointed investors by providing less liquidity than anticipated. 2- Brexit woes. 3- Fear of second Covid-19 wave. 4- Economic recession All those factors are weighing on the pair which almost completed a head and shoulders pattern on the 4H chart, but still waiting for confirmation. Bears and bulls are now fighting over the neckline support. Traders must wait for a confirmation/close below this level for a safer short position. Good luck
by RamziAbouAbdallah-CMT
ridethepig | Gilt Yields Breaking the GridlockThe best move, since the breakout of the consolidation after an early basing development is to work the heat of the bid. It is much more about the political configuration than and how to work against the economic pain coming from Brexit. As well as moves in Pound and UK Equities becoming clear, Rishi Sunak now playing the tax cuts, which combined with the overdraft extensions and BOE front loaded cuts allows us to completely paralyse sterling buyers in the majority. The latest squeeze is a false liberation!! It will only manage to create enough energy for further weakness !! The isolated Pound will fall and go on to occupy the lows once more, we can open a new cable chart for those wanting to trade the flows live. By calling to their aid the tax cuts, Yields will be forced to spike into the highs and force our opponent onto the back-foot. If price escapes the highs in a freeing momentum break, we can see a surplus of tempo once inflation hits shore. This demonstrates how deadly the paralysing of Downing Street was from Cameron.
TVC:GB10YLong
by ridethepig
GBPJPY Head and Shoulders Trend Reversal?-Since my last analysis of GBPJPY, the price has rejected the 130.581 level, which was noted as a possible outcome. - A nice inverse head and shoulders pattern has emerged on this pair. - The distance between peak of inverted head and right shoulder is around 310 points, therefore from the breakout of the neckline early this morning, we can expect the price to push a similar distance to the upside. - This movement would also bring the price to the previous resistance of 135.268. - RSI on the 4 hour time frame stands at 69.53, so, in the short term, we could also see a retracement to, and retest of the neckline before continuing an upward trend. I hope this is an helpful analysis; please share your thoughts and opinions!
Long
by WillRakowski