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Sterling

Navigating The Market : Trading Plan GBPCHF 3rd September 2019The price didn't fourth-tapped the buy stops yesterday. Equal(ish) intraday highs first formed on the 23rd August, tapped for the second time on the 27h August and tapped for the third time on the 29th. The root of yesterday move was from Friday's high. It went down and almost tested last week's low but it didn't close inside the liquidity pool to warrant me for a bullish trigger. I am generally bearish on the sterling but as we have seen how the price reacted last week, I welcome any level bounces that I could get into until the trend/price expansion occurs, considering the fact that sell orders and buy orders (liquidity pool!) stacking at the upside and the downside. Last week's average weekly range was missed so I expect it will be tested sometime this week, and I anticipate whichever projection the price would make, that would be also this week's high or low (anchor). In between the current range, there are reported retail buy stops at 1.2000-1.18000. When I see buy stops BELOW the current market price, I do not see an opportunity to trade according to the level's breakout but against it. I tend to see it as a place for the big banks/institutional to trap breakout retail traders and get liquidity so they can buy/sell at a better price. Whether it would "respect" the levels (a kinder word for "trap zones") or not, it doesn't matter to me because the levels I am interested at are the liquidity pools coincided with popular breakout levels. When price enters this zone, then I will wait for setups accordingly Actionable : Look for a bullish signal when price close inside the Sell Stops Liquidity Pool below current market price. OR Look for bearish signal when price close insde the Buy Stop Liquidity pool at 1.2100-1.2300 Actionable :
by sufiansaid
1
Navigating The "Brexit" Market : Simplified #GBPCHFSterling Pairs, if you zoom out to the daily chart, had been in a sell-off run (bid run for EURGBP) for a few months now. For GBPCHF, the sell-off all started, technical-analysis wise, after the institutions tapped in 1.3375xx-1.338xx early may, forming an equal high formed two months previously. Fundamental/Sentiment analysis would suggest that this was due to the saga that is in Brexit. A no-deal Brexit/Boris Johnson becoming PM etc have provoked the market to dump their Sterling Longs. I am in intraday-scalping mode for GBPCHF at least today (perhaps could be prolonged until Wednesday, all depending on what happens today). I see oceans of liquidity pools both side of the spectrum and I will make my trading decisions based on which pools the institutions will tap and the price action-reaction once it's been tapped. (long-term I am bearish on Sterling, if price tapped in the buy stops above, that would be grand! I would, with high conviction, would short GBPCHF from there and I would expect a bearish trend ensues) The retail sentiment, although not as strong as NZD bids, is bid. I am a contrarian trader (generally prefers to be the other side of retail sentiment) backed up with my fundamental/sentiment stance, will indeed be bearish on GBP. However, as I mentioned above, I am in a scalping mode today for GBPCHF depending on which pool the big banks/institutions would tap in. The range analysis - Last week's weekly range projection was not a hit. My belief is that when the price fails to hit the daily/weekly/monthly average range projection, then it has to pay it back in the following day/week/month. Price expansion very often happens after a week of a miss projection.
Short
by sufiansaid
GBPJPY - Potential inverse head and shouldersTrade Idea The medium term bias remains bearish. Potential Head and Shoulders formation taking shape. Although we remain bearish overall, a correction is possible without impacting the trend lower. We look for a re-test of the downward trending support. Bespoke resistance is located at 129.45. Further upside is expected although we prefer to set longs at our bespoke support levels at 129.45, resulting in improved risk/reward. We look to Buy at 129.45 Stop: 129.00 Target 1: 131.90 Target 2: 132.50
Long
by Signal_Centre
GBP - Signs of a bottom beginning to form?Looking at a basket of Sterling pairs on a variety of time-frames. (You can add this to your own watchlists by copying this code: GBPAUD*GBPCAD*GBPCHF*GBPJPY*GBPNZD*GBPUSD*GBPEUR ) There appears to be some evidence of a bottom shaping on the 4-hour chart. Expecting a bumpy ride with Sterling, but I believe the Risk/Reward is looking favourable in the short term. We should see some more news from Brexit discussions over the next few hours. Let's see what happens! Hope you like the video - please give it a like if you do! Good Luck. Joe GBP Macro news The July UK government posted a budget surplus of £1.3bn compared with £3.5bn the previous year with the deficit for the first four months of fiscal 2019/20 increasing to £16.0bn from £10.0bn as spending increased and revenue growth slowed. Sterling lost ground following comments by a French official that in view of Prime Minister Johnson’s comments on the Irish backstop, the baseline scenario now seemed to be a ‘no-deal’ Brexit and President Macron reiterated that the deal could not be re-opened. German Chancellor Merkel stated that as soon as there is a solution to the Irish border issue, there will be no need for the backstop. She also stated that a negotiated Brexit would be welcomed, but Germany is ready for all outcomes and challenged the UK government to find a solution to the Irish border within the next 30 days. The comments failed to provide significant support with Sterling holding net losses on the day. EUR/GBP settled around 0.9140 with GBP/USD below 1.2150. A labour-market survey recorded the strongest increase in wage rises since 2008, but political tensions tended to dominate sentiment with GBP/USD around 1.2120 on Thursday.
Long
by Signal_Centre
Sinking feeling againBy Andria Pichidi Pound Crosses UK Prime Minister Boris Johnson tweet-reminded his government’s position: “We are ready to work with our friends and partners to get a deal. But if you want a good deal for the UK, you must simultaneously get ready to come out without one.” Johnson, who will be meeting Germany’s Merkel and France’s Macron this week, is above all looking for the EU to soften its objection to the Brexiteer proposals for “alternative arrangements” on the Irish border. He knows full well that the EU won’t be making any concessions at this juncture, with Brussels looking to see how the upcoming political battle between the anti-no-deal and pro-no-deal Brexit parliamentary factions goes. Boris is wanting to see the former group fail in its efforts to thwart a no-deal Brexit, either legislatively or by attempting to bring his government down by a no confidence vote, which he would see as a victory that would greatly strengthen his negotiating position. But, given how intractable the EU’s red line is for having a post-Brexit Irish border backstop, which both Ireland and Brussels see as essential to avoid breaching the 1998 Good Friday Agreement (which brought peace to Northern Ireland), it’s hard to see what concessions the EU would be prepared to give the UK even in the face of a disorderly no-deal exit. EU officials see the UK’s position as being fundamentally weak, as a no-deal scenario would be more damaging to the UK economy than it would be to the EU economy. Some senior EU figures have reportedly been conjecturing that even if the UK leaves, sans deal, the country would return cap in hand within a matter of months as the reality of no-deal hit home. Sterling has that sinking feeling again, with Cable earlier printing a 3-day low at 1.2083 and EURGBP lifting back above 0.9160. Next Support for Cable holds at last week’s low range, i.e. 1.2017- 1.2020. Intraday, Resistance holds at pivot point at 1.2120. Boris’ tweet doesn’t tell us anything new, and hence it is not expected to sustain selling, with the Pound looking to have found an equilibrium of sorts over the last week following a protracted, multi-month period of underperformance. Market participants are anticipating what promises to be a phase of high Brexit drama, which will commence when parliament returns from summer recess on September 3, when the anti-no-deal and pro-no-deal Brexit parliamentary factions will do battle. Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
Short
by HotForex
1
EURGBP - Possible head and shoulders forming?Trade Idea Price action looks to be forming a top. In line with the possible early stages of a head & shoulders pattern and the strong rejection of gains, we look to set shorts in anticipation of a swing lower. We have a 50% Fibonacci pullback level of 0.9207 from 0.9090 to 0.9324. There is scope for mild buying at the open but gains should be limited. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 0.9205, resulting in improved risk/reward. We look to Sell at 0.9205 Stop: 0.9235 Target 1: 0.9100 Target 2: 0.9050
Short
by Signal_Centre
Pound to Fight Back? - GBP/USD Ichimoku Long TradeWhile I have a hard time seeing the Pound gaining much strength over the coming months, right now that is where the technicals are pointing me for the time being. We're above the kumo, we have a bullish kumo twist, and chikou span is above price. So, all the bullish confirmations are there that I need. I've set my entry level right above previous price resistance to act as a trigger. If we break that, we should be able springboard off it and climb higher.  I've drawn out a longer term swing target, and as always, lots of levels to aim for partial profit along the way. If we fail to break through resistance and climb higher, or if our bullish confirmations change, this setup may become invalidated.
Long
by The808Trader
GBP/CAD sets up >1000 Pip Play! *Yellow MA = 200 EMA | Blue MA = 100 EMA In this video, I go over the approaching support level for OANDA:GBPCAD and the potential play to the top of the consolidation box set after the reversal we see from January 2016 - October 2016. A play from the support to resistance is well over 1000 pips and has two different opportunities: 1. We bounce off of more recent support 2. We bounce off of all-time low I'm looking for both options to play to the top of the box and move price action within that same range again. This support is extremely strong and could lead to a very profitable play, especially since the RSI shows us the pair is oversold with bullish divergence, characteristics of previous plays in this zone. The resistance I outline is from old support and fib levels, but both this resistance and fib levels have been broken on previous bounces off the same support. Good luck traders!
Long
by olympus_trading
3
07-30-2019 GBP/USD Long now - Hi traders.! We've now reached demand zone from 4Q 2016 - 1Q 2017. We are currently at the lowest level in two and a half years. There are several reasons for the Cable rebound tomorrow. - The cable is reached major buy zone today. - FED's rate cut is expected tomorrow. This will likely move DXY down. - DXY is forming a triple top, supply zone @98.2X level. I am expecting DXY to go down tomorrow after reaching the weekly top level along with rate cut. - We are almost 250 pips down after no-deal Brexit risk. This is def oversold for such an expectation.
Long
by aparkon