BXY Bearish Crab Pattern BXY Bearish Crab Pattern spotted on the GBP Index.
🦀📉 Potential reversal zone in sight.
Time to reassess positions and manage risk carefully.
Always trade with a plan!
About British Pound Currency Index
The British Pound Currency Index (BXY) is a significant indicator demonstrating how strong the pound is in comparison with other major currencies. Although the United Kingdom is relatively small in size, the GBP plays a big role in the world economy. Also, USD/GBP and EUR/GBP are traditionally important pairs for Forex market participants. In order to predict the next trend for the pound, traders monitor changes of such economic indicators as the Bank of England interest rate, the GDP, the consumer price index, and energy carrier prices.
BXY Bullish OptimismHello there,
BXY has moved above the RSI 25 and crossed the RSI moving average (MA), indicating an attempt by the bulls to push the market higher from the oversold region.
If the price holds above the RSI MA, there is a greater likelihood of moving higher. The desired price target is 129.10.
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BXY 11/11/2024 EXPECTING UP Pound looking good in a potential area for longing on the 4H chart so lets see what happens thanks for watching!
Trend of British Pound Currency Indexthe detail is shown in the above Idea.
I made this Idea based on Candlestick Analysis and Harmonic pattern.
bear market turning into bull Market with GBP Crab.
Bullish crab pattern
It begins at point X and extends to point A. Point X may be anywhere on the price chart, but looking for a bull
British Pound Currency Index, heading where next?British pound currently is having a strong headwind to reduce the pound strengthen coming to the market in play. It just started and the strong headwind is the potential pause of the BOE rate hike coming in 2024 as the inflation CPI of 11% previously in 2022 by the UK CPI is currently only at 4.60%.
"Analyzing BXY's Descending Triangle: Waiting for a Breakout DirDescending Triangle Pattern: You've identified a descending triangle pattern on BXY's chart. This pattern typically consists of a horizontal support line and a series of lower highs, forming a triangle shape. It's considered a bearish pattern and often leads to a breakout in a downward direction.
D
BXY Analysis 10/10/2023As you can see with the current state of the BXY market, it is currently in and upwards trend creating higher lows consistently marked by the circles on the closes of the wicks. The red rectangle marks out the area where price was operating below my entry price on GBP/USD and as you can see the arro
Gbp index I expect gbp index to pull back to the oderblock/ discounted area
The price have been on the down trend since I expect a massive drop on gbp pairs for the next few years
BXY, Important, Crucial BEAR-Fractals, Setup of a Next Wave!Hello There!
Welcome to my new analysis of the BXY. Within recent times there are major factors moving the BXY as the inflationary pressures within the BXY are still increasing paired with a historically high interest rate of 5.25% that was seen the last time during the financial crisis of 2008
British Pound Plunges as Bank of England Holds Interest RatesI bring today is far from uplifting. As you may already be aware, the British Pound (GBP) has taken a significant hit in the wake of the recent decision by the Bank of England (BoE) to hold interest rates steady. This unforeseen turn of events has left many traders like yourself feeling disheartened
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Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.
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Frequently Asked Questions
The current value of British Pound Currency Index is 132.37 USD — it has risen by 0.84% in the past 24 hours. Track the index more closely on the British Pound Currency Index chart.
British Pound Currency Index reached its highest quote on Nov 8, 2007 — 211.17 USD. See more data on the British Pound Currency Index chart.
The lowest ever quote of British Pound Currency Index is 1.92 USD. It was reached on Mar 5, 2007. See more data on the British Pound Currency Index chart.
British Pound Currency Index value has increased by 2.84% in the past week, since last month it has shown a 1.91% increase, and over the year it's increased by 6.09%. Keep track of all changes on the British Pound Currency Index chart.
British Pound Currency Index is just a number that lets you track performance of the instruments comprising the index, so you can't invest in it directly. But you can buy British Pound Currency Index futures or funds or invest in its components.