We've broken out of a long-standing sideways channel to the lower side, now bouncing off support to retest the broken channel. I'm expecting a big dump in this paid once the retest is complete, UK economy vs Swiss economy, interest yields etc, no comparison. The Swiss has been a stand-out performer against most crosses this year, GBP has been clinging on but I...
Looking at this pair and comparing it to the DXY index I think there's more likely to be a bounce from here, than a further bearish extension. DXY is failing to break a descending dynamic trendline, it's currently retesting again and showing signs of rejection. Fundamentals were good for DXY today but the price didn't react as I would have expected, which...
We saw GBPUSD spike today following the favourable employment news and then reject the descending trendline (confirmed with doji and then rejection). Fundamentally there has been negative PMI data (manufacturing was green but still below 50) to support my view, so I think the bigger downtrend will continue. I also don't believe the USD is done yet, it will remain...
Been watching this pair closely and made some good pips in the past week, however I got spooked last night and closed my sells (albeit 50 pips too early), but my calculation seemed to be broadly right. To me it's looking like a fake out below my support line and back through this resistance which is being retested but I think we're going back up. USD not flying...
Expecting another hike from the FED in November, supported by hawkish comments across the board to focus on reducing inflation to 2%, this is supported by positive data. Real yields (bond yield - inflation) are positive for the dollar, they're negative for GBP and EUR. We may still see another hike from BoE but the economy is in a mess. Need to watch for US...
We've had a breakout of both support and descending dynamic trendline with no retest, which I'm expecting. I can't see us retesting the dynamic trendline so considering shorts on the LTF's when we return to the resistance (formerly support) line. Expecting Aussie strength and Pound weakness, we may go higher with the interest rate decision from the BoE this week...
Although we cannot yet rule out a new bottom on daily chart, from a technical point of view, we are approaching an interesting support area, and this should trigger a bullish reaction on the pair. That said, our short-term view is bullish and we will follow the development in the next few hours on intraday chart (Reversal Pattern formation is necessary to trigger...
New Week - Happy Monday Price breakout of a correction after breaking and retesting a descending channel. I'm expecting price rally up.
As we can see GBPNZD has rejected support having broken through the long term ascending channel. According to my chart we've not retested the channel yet (obvs this isn't always the case, but I would have expected it as it was a long term bullish trend), so I'm thinking it will. As this is a retracement trade i'll be looking to TP before my resistance block just...
I think this is a good pair to short, with GBP struggling to get through resistance even with the dip in oil prices. I'm expecting a fall back to support around 1.638 as my target.
GJ has been in this intraday range and we have now seen a breakout and retest we can aim for some sell trade
Going short within a support and resistance level range. Proper risk management is key.
We can see that GBPNZD has broken below the mid-point of the rising channel. Looking for sells going into the BoE rate decision this week, with NZD generally strengthening and GBP generally weakening. Depending on what happens on Thursday we we'll see either a break of a bounce off this point. I'm targeting 2.072 initially, where I see confluence of the rising...
Hello traders, UK GDP and BOE decision making meeting could change the market direction. Daily view 4H view There are 3! entries and 1 TP for this pair. Levels calculated order_block, regarding support and resistances, channel and pivot points.
We can see that GBPAUD has broken the weekly rising trendline with gusto at the end of last week. We have a small pinbar close on Friday which suggests a retracement back up to retest. I'm expecting strength to build up for the AUD with the positive signs coming out of China, we can see it is recovering across most crosses, and sterling weakening. BoE decision...
In my opinion GBP is building up for a big fall this year, and it has to start with a lower high. Oil prices are rising, and as much as the FED don't want this, it's happening, and this should be good for CAD. I can see a rising wedge pattern, we can see spinning tops forming and it looks like we're running out of steam, I believe we'll initially fall back to...
I'm expecting full on GBP weakness over the coming weeks, regardless of what happens with the dollar. We've broken below the months of ascending trendline and so far failed to break back above, we have a beautiful bearish engulfing candle on the 4hr close from Friday. I get this pair wrong a lot (because I live in the UK and can see a car crash happening in slow...
Given the chart pattern and overextended nature of this pair I’ll be looking to short this cross if the pound continues to gain in strength. A short entry on this pair will be taken with considerable caution due to the divergence in monetary policies. That being said, given the UK’s lacklustre economy I think further rate rises, although needed, will be...