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Sterling

The "Pulse" of an asset times Fibonacci: GU minor Impulse ReduxShort term plot using small tf screens as a microscope. "Impulse" is a surge that creates "Ripples", like a pebble into water. "Impulse Redux" is returning of wave to the original source of energy. "Impulse Core" is the zone of maximum energy, in the Golden Pocket. Are the sellers still there? Enough to absorb the buying power? Reaction at Impulse is worth observing closely to gauge energy. Rejection is expected on at least the first approach if not more. This is part my ongoing series to collect examples of my Methodology. . . Ordered Chaos every Wave is born from Impulse, like a Pebble into Water. every Pebble bears its own Ripples, gilded of Ratio Golden. every Ripple behaves as its forerunner, setting the Pulse. each line Gains its Gravity . each line Tried and Tested. each line Poised to Reflect. every Asset Class behaves this way. every Time Frame displays its ripples. every Brain Chord rings these rhythms. He who Understands will be Humble. He who Grasps will observe the Order. He who Ignores will behold only Chaos. Ordered Chaos . . . want to Learn a little More? can you Spend a few Moments? click the Links under Related.
by EuroMotif
1
EURGBP - Sleepin' with the FishesEURGBP Emerging Price Pattern. EURGBP price is consolidating in this tight and tightening parabolic support/resistance line formation. Price has been very consistent bouncing between the flanks of the sterling salmon. This pattern, as you can imagine, is not a common pattern and it is not clear whether it will be yanked up with the fisherman or flounder down to Boris Bay. I suspect that it will push lower and ride the waves. If you have any inputs or believe I'm missing something, drop me a line!
by Dubsta000
Cable morning chart updateAfter clearing our first targets on the test of 1.310 area prices have bounced and we are witnessing some nice profit taking. Here we can be clear, a decline through the most recent lows will open up the leg for a deeper setback towards 1.28 and 1.24. The new season of the Brexit drama is kickstarting next week, the underlying economic remain the same and here expecting a Hard Brexit as the final outcome. Technically speaking for those looking to trade the entire swing, a decline through 1.24 will open up a test of the key support from the BoE at 1.21. Lets see how it goes.
Short
by ridethepig
An update to Cable ahead of the voteThe vote is kickstarting at 7:00pm GMT and I am still expecting another defeat here. What is necessary to track today is the severity of the defeat and the reaction of the DUP party. Odds of any deal passing today remain at 17%. The main issue for PM May is the slim majority she is barely holding onto. The deal will likely pass eventually, although we might have to see more economic pain in the UK for the DUP and other Labour Brexiteers to follow suit first... This pantomime may take till the summer. If it is voted down (expected today), then the next stage for parliament will be a vote on whether the government supports leaving a “no-deal” option on the table tomorrow and on Thursday the UK Government will vote on whether they should ask for a delay to the Brexit date. For those trading Sterling, we are almost back to the original entries of our shorts earlier in the month with late sellers getting caught underwater. Best of luck those trading the event live, here looking for more positions on the sell-side.
Short
by ridethepig
Art 50 extension likely...an update to CableHere we have an update to the Cable chart. The UK going back to the 1600’s as odds of another vote on PM May’s deal in the House of Commons this week are very low. For a house of “Commons” they are certainly lacking “common sense”. ... The rules are that two votes on the same motion are not permitted during the same parliamentary year. This means PM May will have to wait till July before being able to put the vote forward again. Obviously this can change if we see any changes in the majority support, however, as things stand we are on track for a no-deal Brexit from a legal perspective….The big question remains whether the EU will approve the extension. Odds of a long extension are creeping higher (67%) meaning pressure on the Brexiteers will increase massively to such an extent that they are forced to back May’s deal. Remember up until now we have been trading the conjecture leg of Brexit. The damage so far has come only from uncertainty, we have yet to experience the main impact of losing market access on the economy. Best of luck those who are positioned on either side for this result... we are going to see some fireworks!
Short
by ridethepig
No time to pause...The EU offering a very short unconditional extension of the Brexit deadline as expected with the possibility of an extension till 22nd May if the House of Commons pass the WA before that. If the House of Commons rejects PM MAY’s deal, the UK will either leave on 12th April or need to come up with an alternative way forward for the EU Council to consider (participation in European May elections etc). As things stand a long extension seems more likely than the deal passing as the HoC by majority voted to take no deal Brexit off the table, watching very closely the responses in British politics for any changing of sides as we get closer to the final whistle. On the Central Bank front yesterday we had a muted BOE as expected via political uncertainties. Best of luck all shorts
Short
by ridethepig
2
"Doves" it even matter?A "dovish" surprise from the Fed yesterday ...but does it really matter? Well the removal of 2019 hikes is worth highlighting because it does not fully support the story we are being told from macro data meaning the bar is set high for any further hikes.History tells us it’s very unusual for the Fed to pause for a long time in hiking cycles before resuming meaning this is likely the end of hikes in the cycle. In Brexitland, PM May playing politics with a " Queens Gambit "…by asking for the short-extension till the end of June she is trying to force MPs hands to vote for her deal. Options from the EU are still either for (short) Mid-May or (long) lasting into 2020. The risk scenario which will send Pound flying down across the FX board is that the EU reject an extension. Expecting a muted BOE today, no hikes with the MPC judging further tightening warranted over the forecast horizon... same old story till we clear the political mess. For those who are positioned from the previous ideas in GBPUSD, GBPJPY, GBPNZD and EURGBP it's time to trail stops and sit tight, markets are pricing a higher risk of a no deal Brexit again. Same targets for the drama, for those following I will be covering the BOE live in RTP ... good luck guys.
Short
by ridethepig
Market maker in full effect on cable! The cable is currently experiencing a huge sell off, i was holding several shorts yesterday and managed to make just short of 1000 pips. however, with that being said i feel that anything that is either vertically up or down creates no stability in the markets, which then leaves huge gaps in large orders. If you on the third of may we had a parabolic move to the upside on GU. The following trading day the bears took control and ate away at all of sterling gains within the next day. This is because when price moves heavily and quickly in one direction it doesn't give brokers any 'layers' to build orders on, thus affecting liquidity. You will find that you'll see price move erratically in one direction and then you will enter with the trend, price will then go against you to where the first move started, then there will be a continuation of the trend, except, you've been stopped out and you cant enjoy the green pips! Non the less, i am short on cable for the long term, but this setup looks very similar to the hundreds I have traded before! So, you've been warned!
by AshtonHunt
Sterling suffers on fresh Brexit newsBy Andria Pichidi - May 8, 2019 GBPJPY remained heavy amid safe haven demand for the Yen but also amid a weak Pound on Brexit fatigue. The low reflected safe haven demand after Wall Street saw its worst day in 2 months, as markets continued to digest looming tariff hikes on imported Chinese goods to the US. Markets are anticipating the visit of Chinese vice-premier Liu to Washington, hoping for signs of a thawing in tensions in trade negotiations. At the same time, the Pound ignored strong BRC retail sales and a rebound in house prices and fell sharply on Brexit-related news. Sterling is at fresh lows as ITV news reporting that talks between the government and the Labour Party are at “near collapse.” The government had earlier confirmed that the UK would be taking part in the May 23 elections of the European parliament, although this had been widely expected. There had been a chance that the UK could have still left the EU ahead of this date had the government and Labour agreed on a compromise Brexit deal. The issue about whether the UK should remain a permanent member of EU’s customs union has been the main obstacle. EU parliamentary elections on May 23, which the UK is obliged to partake in, will provide an updated litmus test of UK public support, or lack thereof, for Brexit, with both pro- and anti-EU parties standing. Overall, this week, Brexit fatigue has seen the Pound weaken against most currencies. The currency is presently showing a decline of just over 0.4%, on average, against majors, with the highest being against Yen, at 0.65%. GBPJPY has concurrently tipped sharply to February’s lows, while EURGBP has risen to 5-day highs. In the meantime, the GBPJPY bias is expected to remain to the downside, based on the strong break of the 2-month Support which is reflected by the bottom of a descending triangle since March peak. Further losses below this area bring into attention February’s low area, i.e. 141.00- 141.70 . Immediate Support for the day comes at 141.50 and Resistance at 143.70. Other than the above, technical analysis supports the negative outlook of the asset in the medium term as Daily Bollinger Bands extend southwards. RSI has been sloping towards oversold area since Friday, while MACD lines are also decelerating lower following a recent bear cross in the intraday basis but also in the daily basis. Brexit, and the impact that the prolonged uncertainty is having on the UK economy, should keep the Pound on a softening tack. 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 FX and CFDs 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
2