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British Pound Futures

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6B1! trade ideas

Micro GBPUSD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 1.2287 Pivot: 1.2157 Support : 1.2077 Preferred Case: On the H4, with price moving above the ichimoku indicator and within the ascending channel , we have a bullish bias that price will rise from the pivot at 1.2157 where the pullback support and 50% fibonacci retracement are to the 1st resistance at 1.2287 in line with swing high resistance, 78.6% fibonacci retracement and 61.8% fibonacci projection . Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 1.2077 where the pullback support, 78.6% fibonacci retracement and 78.6% fibonacci projection are. Fundamentals: The UK's Prelim GDP q/q and GDP m/m are anticipated to show a decline in economic activity. This gives us a bearish view on GBPUSD . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
CME_MINI:M6B1!
by Tickmill
Micro GBPUSD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 1.2287 Pivot: 1.2157 Support : 1.2077 Preferred Case: On the H4, with price moving above the ichimoku indicator and within the ascending channel , we have a bullish bias that price will rise from the pivot at 1.2157 where the pullback support and 50% fibonacci retracement are to the 1st resistance at 1.2287 in line with swing high resistance, 78.6% fibonacci retracement and 61.8% fibonacci projection . Alternative scenario: Alternatively, price could break pivot structure and drop to 1st support at 1.2077 where the pullback support, 78.6% fibonacci retracement and 78.6% fibonacci projection are. Fundamentals: The UK's Prelim GDP q/q and GDP m/m are anticipated to show a decline in economic activity. This gives us a bearish view on GBPUSD. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
CME_MINI:M6B1!Long
by Genesiv
British Pound Futures (6B1!), H4 Potential for Bullish MomentumType : Bullish Rise Resistance : 1.2286 Pivot: 1.2161 Support : 1.2047 Preferred Case: On the H4, with icpre moving along the ascending trendline and above ichimoku cloud , we have a bullish bias the price may rise from the pivot at 1.2161, where the 23.6% fibonacci retracement is to 1st resistance at 1.2286, which is in line with the 78.6% fibonacci retracement . Alternative scenario: Alternatively, price could drop to the 1st support at 1.2047, which is in line with 50% fibonacci retracement . Fundamentals: The interest rate in the UK is at 1.25% with the recent rate increases from the BoE failing to have an impact on slowing inflation growth, as the UK CPI stands at 9.1%, a 4-decade high. The BoE is under pressure to take on a more aggressive approach in setting future policy rates. Gov Bailey indicated that the BoE could increase interest rates by 50bps as it attempts to address the issue of persistent inflation .
CME:6B1!
by Tickmill
British Pound Futures (6B1!), H4 Potential for Bullish MomentumType : Bullish Rise Resistance : 1.2286 Pivot: 1.2161 Support : 1.2047 Preferred Case: On the H4, with icpre moving along the ascending trendline and above ichimoku cloud, we have a bullish bias the price may rise from the pivot at 1.2161, where the 23.6% fibonacci retracement is to 1st resistance at 1.2286, which is in line with the 78.6% fibonacci retracement. Alternative scenario: Alternatively, price could drop to the 1st support at 1.2047, which is in line with 50% fibonacci retracement. Fundamentals: The interest rate in the UK is at 1.25% with the recent rate increases from the BoE failing to have an impact on slowing inflation growth, as the UK CPI stands at 9.1%, a 4-decade high. The BoE is under pressure to take on a more aggressive approach in setting future policy rates. Gov Bailey indicated that the BoE could increase interest rates by 50bps as it attempts to address the issue of persistent inflation.
CME:6B1!Long
by Genesiv
Micro GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 1.2181 Pivot: 1.2061 Support : 1.1955 Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 1.2061 where the pullback support is to the 1st resistance at 1.2181 where the overlap resistance, 61.8% fibonacci retracement and 127.2% fibonacci extension are. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 1.1955 where the pullback support, 50% fibonacci retracement and 61.8% fibonacci projection are. Fundamentals: Due to the current political uncertainty in the UK, rampant inflation and relatively modest interest rate increases, we have a bearish bias on the GBPUSD . We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
CME_MINI:M6B1!
by Tickmill
1
Micro GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 1.2181 Pivot: 1.2061 Support : 1.1955 Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 1.2061 where the pullback support is to the 1st resistance at 1.2181 where the overlap resistance, 61.8% fibonacci retracement and 127.2% fibonacci extension are. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 1.1955 where the pullback support, 50% fibonacci retracement and 61.8% fibonacci projection are. Fundamentals: Due to the current political uncertainty in the UK, rampant inflation and relatively modest interest rate increases, we have a bearish bias on the GBPUSD. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
CME_MINI:M6B1!Long
by Genesiv
Micro GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 1.2184 Pivot: 1.2061 1st Support : 1.1955 2nd Support : 1.1778 Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 1.2061 where the swing high resistance and 61.8% fibonacci projection are. Once there is upside confirmation that price has broken the pivot , we would expect bullish momentum to carry prices to 1st resistance at 1.2184 where the swing high resistance,61.8% fibonacci retracement , 100% fibonacci projection and 127.2% fibonacci extension are. Alternative scenario: Alternatively, price could drop to the 1st support at 1.1955 where the pullback support is. Should price break 1st support, we would have a bearish bias that price will drop to 2nd support at 1.1778 in line with swing low support and 100% fibonacci projection . Fundamentals: BoE Gov Bailey commented that in order to bring UK inflation towards the 2% target, the BoE could consider more aggressive rate increases of 50bps. This gives us a bullish bias towards the GBPUSD forex pair.
CME_MINI:M6B1!
by Tickmill
Micro GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 1.2184 Pivot: 1.2061 1st Support : 1.1955 2nd Support : 1.1778 Preferred Case: On the H4, with prices moving within an ascending channel and above the ichimoku indicator, we have a bullish bias that price will rise to the pivot at 1.2061 where the swing high resistance and 61.8% fibonacci projection are. Once there is upside confirmation that price has broken the pivot, we would expect bullish momentum to carry prices to 1st resistance at 1.2184 where the swing high resistance,61.8% fibonacci retracement, 100% fibonacci projection and 127.2% fibonacci extension are. Alternative scenario: Alternatively, price could drop to the 1st support at 1.1955 where the pullback support is. Should price break 1st support, we would have a bearish bias that price will drop to 2nd support at 1.1778 in line with swing low support and 100% fibonacci projection. Fundamentals: BoE Gov Bailey commented that in order to bring UK inflation towards the 2% target, the BoE could consider more aggressive rate increases of 50bps. This gives us a bullish bias towards the GBPUSD forex pair.
CME_MINI:M6B1!Long
by Genesiv
Micro GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 1.2184 Pivot: 1.1957 Support : 1.1784 Preferred Case: On the H4, as prices has broken out of descending trendline and RSI moving along an ascending trendline, we have a bullish bias that price will rise from the pivot at 1.1957 in line with the pullback support to the 1st resistance at 1.2184 where the swing high resistance and 100% fibonacci projection are. Take note of intermediate resistance at 1.2069 where the swing high resistance and 50% fibonacci retracement are. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 1.1784 in line with the swing low support and 100% fibonacci projection . Fundamentals: The GBP released weaker than expected employment data, with average earnings at 6.2% (Forecast: 6.7%), and claimant count change at -20.0K (Forecast: -41.2K). However, the overall impact of the data was subdued for several reasons, the DXY is under pressure from a strong Euro , and the data was released earlier than scheduled, catching markets by surprise. This gives us a bullish bias for GBPUSD .
CME_MINI:M6B1!
by Tickmill
Micro GBP/USD Futures (M6B1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 1.2184 Pivot: 1.1957 Support : 1.1784 Preferred Case: On the H4, as prices has broken out of descending trendline and RSI moving along an ascending trendline, we have a bullish bias that price will rise from the pivot at 1.1957 in line with the pullback support to the 1st resistance at 1.2184 where the swing high resistance and 100% fibonacci projection are. Take note of intermediate resistance at 1.2069 where the swing high resistance and 50% fibonacci retracement are. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 1.1784 in line with the swing low support and 100% fibonacci projection . Fundamentals: The GBP released weaker than expected employment data, with average earnings at 6.2% (Forecast: 6.7%), and claimant count change at -20.0K (Forecast: -41.2K). However, the overall impact of the data was subdued for several reasons, the DXY is under pressure from a strong Euro, and the data was released earlier than scheduled, catching markets by surprise. This gives us a bullish bias for GBPUSD.
CME_MINI:M6B1!Long
by Genesiv
BRITISH POUND FUTURES (6B1!), H4 Potential for Bearish DropType : Bearish Momentum Resistance : 1.1953 Pivot: 1.1895 Support : 1.1783 Preferred Case: On the H1, with price moving below the ichimoku cloud and along the descending trendline, we have a bearish bias that price will rise and drop from the pivot at 1.1895 in line with the pullback resistance to the 1st support at 1.1783 where the 161.8% fibonacci extension and 100% fibonacci projection are. Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 1.1953 where the pullback resistance is. Fundamentals: With no major news events ahead, and the dovish sentiment across the UK and the Eurozone, further downside can be expected, which gives us a bearish bias on the British Pound.
CME:6B1!Short
by Genesiv
BORIS JOHNSON OR NOT GBP STILL BEARISH!🦊¶REDFOX CAPITAL™¶🦊, GBP FUTURES! British pounds have been falling now for several months and now lying on historical support.... Last few days back this currency created a new historical low and bounced up aggressively but still came back into the support that is to say the buy was sponsored by the Government to support the currency from seeing further dumps now after Boris johnson announced resignation this currency once again saw a minor surge up but STILL the PA is still bearish IMO and will continue to see for a while,change can't happen overnight with inflation rate this high.
CME:6B1!Short
by RED_FoX_OF_WS
BRITISH POUND FUTURES (6B1!), H1 Potential for Bearish DropType : Bearish Momentum Resistance : 1.2201 Pivot: 1.2109 Support : 1.1952 Preferred Case: On the H4, with price moving below the ichimoku cloud , we have a bearish bias that price will drop to the pivot at 1.2109 in line with the swing low support, 78.6% fibonacci projection and 78.6% fibonacci retracement . Once there is downside confirmation, we would expect bearish momentum to carry price to intermediate support at 1.2063 where the swing low support, -27.2% fibonacci expansion , 161.8% fibonacci extension and 78.6% fibonacci retracement are. Should price break intermediate support structure, we would expect price to drop to the 1st support at 1.1952 where the swing low support and 100% fibonacci projection are. Alternative scenario: Alternatively, price may rise rise to the 1st resistance at 1.2201 where the overlap resistance is. Fundamentals: With inflation at 9.1 percent, the BoE raised the UK interest rate to 1.25 percent. Retail sales in the UK decreased by 4.7% year over year as a result of rising costs having an impact on consumer spending. This gives us a medium bearish bias towards the British Pound.
CME:6B1!
by Tickmill
BRITISH POUND FUTURES (6B1!), H1 Potential for Bearish DropType : Bearish Momentum Resistance : 1.2201 Pivot: 1.2109 Support : 1.1952 Preferred Case: On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop to the pivot at 1.2109 in line with the swing low support, 78.6% fibonacci projection and 78.6% fibonacci retracement. Once there is downside confirmation, we would expect bearish momentum to carry price to intermediate support at 1.2063 where the swing low support, -27.2% fibonacci expansion, 161.8% fibonacci extension and 78.6% fibonacci retracement are. Should price break intermediate support structure, we would expect price to drop to the 1st support at 1.1952 where the swing low support and 100% fibonacci projection are. Alternative scenario: Alternatively, price may rise rise to the 1st resistance at 1.2201 where the overlap resistance is. Fundamentals: With inflation at 9.1 percent, the BoE raised the UK interest rate to 1.25 percent. Retail sales in the UK decreased by 4.7% year over year as a result of rising costs having an impact on consumer spending. This gives us a medium bearish bias towards the British Pound.
CME:6B1!Short
by Genesiv
BRITISH POUND FUTURES (6B1!), H1 Potential for Bearish DropType : Bearish Drop Resistance : 1.2335 Pivot: 1.2181 Support : 1.1950 Preferred Case: On the H1, price is moving below the ichimoku cloud and has recently broken out from the ascending trendline which gives us a bearish bias that prices will drop to the pivot at 1.2181 where the 100% fibonacci projection, 50% fibonacci retracement and swing low support are. Once there is downside confirmation that price has drop to pivot, we would expect bearish momentum to carry prices to 1st support at 1.1950 where the swing low support and 127.2% fibonacci extension are. Alternative scenario: Alternatively, price may rise to the 1st resistance level at 1.2335 in line with the swing high resistance, 100% fibonacci projection and 61.8% fibonacci retracement . Fundamentals: UK CPI y/y data was released at 9.1% and Core CPI at 5.9%, with the GBP strengthening through the session, giving us a weak bullish bias for the british pound.
CME:6B1!Short
by Genesiv
BRITISH POUND FUTURES (6B1!), H1 Potential for Bearish DropType : Bearish Momentum Resistance : 1.2124 Pivot: 1.2057 Support : 1.1855 Preferred Case: On the H1, price is moving below the ichimoku cloud which supports our bearish bias that price will drop from our pivot at 1.2057 in line with the swing high resistance to the 1st support at 1.1855 in line with the 78.6% fibonacci projection and 161.8% fibonacci extension. Alternative scenario: Alternatively, price may break through pivot structure and rise to the 1st resistance level at 1.2124 in line with the pullback resistance, 23.6% fibonacci retracement and 78.6% fibonacci projection . Fundamentals: In the central bank notes, a third of the six members who voted for a hike viewed that the latest increase marked the end of the current hiking cycle while peak inflation revised to more than 10%, adding to the stagflation fears; possible GDP contraction in 2023, giving us a mixed bias for British Pound Futures.
CME:6B1!Short
by Genesiv
BRITISH POUND FUTURES (ZR1!), H1 Potential for Bearish MomentumType : Bearish Momentum Resistance : 1.2563 Pivot: 1.2514 Support : 1.2432 Preferred Case: On the H1, price is moving within the descending channel and is below the ichimoku cloud which supports our bearish bias that price will drop from our pivot at 1.2514 in line with the overlap resistance to the 1st support at 1.2432 where the swing low support, 100% fibonnaci projection and 78.6% fibonacci projection . Alternative scenario: Alternatively, price may break through pivot structure and rise to the 1st resistance level at 1.2563 in line with the swing high resistance and 78.6% fibonacci projection Fundamentals: We have a mixed bias on the British pound futures since the focus on the pound remains on the political front, with Downing Street indicating no plans for a cabinet change and a resolution to the North Ireland issue likely to be disclosed next week.
CME:6B1!Short
by Genesiv
BRITISH POUND FUTURES (6B1!), H1 Potential for Bearish dropType : Bearish Continuation 1st Resistance : 1.2660 Pivot: 1.2622 1st Support: 1.2554 Preferred Case: With price reversing off the ichimoku cloud resistance, we have a bearish bias that price will drop to our support in line with the horizontal swing low support, 38.2% fibonacci retracement and 23.6% fibonacci retracement from our pivot in line with the horizontal swing high resistance and 50% Fibonacci retracement. Alternative scenario: Alternatively, price may break pivot structure and head for 1st resistance in line with the overlap resistance and 61.8% Fibonacci retracement. Take note of intermediary support at 3860. Fundamentals: Stocks have been under pressure since the start of the year as investors have dumped stocks amid worries over whether the Federal Reserve will be able to tame inflation without triggering a recession, with spillover effects from the war in Ukraine and the possibility of a slowdown in China from a rise in COVID-19 cases adding to the angst. Due to this, we currently have a bearish bias on the index.
CME:6B1!Short
by Genesiv
British Pound Futures (6B1!), H1 Potential for Bullish MomentumType : Bullish Rise 1st Resistance : 1.2631 Pivot: 1.2553 Support : 1.2485 Preferred Case: With price moving within the ascending trend channel and above the ichimoku cloud, it supports our bullish bias that price will bounce off the pivot at 1.2553 in line with the confluence area with 50% Fibonacci retracement to the 1st resistance at 1.2631 in line with the 61.8% Fibonacci retracement and 127.2% Fibonacci extension. Alternative scenario: Price may break the pivot level and drop to the 1st support at 1.2485 in line with horizontal swing low support. Fundamentals: Dovish doses were injected by the BoE Chief Economist Pill and member Tenreyro. The former warned of recession risks from too much tightening, while the latter sought a more gradual approach to tame inflation. We currently have a mixed-to-weak bearish.
CME:6B1!Long
by Genesiv