BXY is still going strongBXY will continue to go up unless conditions change, For instance if it can break the support at 127 then the whole scenario will change but until then stay tuned to more update and just sit tight for long ride...Longby UnknownUnicorn194750542
BXY at a Critical AreaBXY (British Pound Currency Index) 1W & 1D: The British Pound Currency Index has been trending to the upside since the beginning of the year. The trend is strong, moving in a classic Higher-High and Higher-Low structure. The BXY is respecting an ascending trendline from the weekly perspective, and we are currently seeing a minor pullback towards it. We expect BXY to respect the trendline and continue bullish with the trend heading towards our next S/R area. BXY 1W: On the daily timeframe, the market structure of BXY is showing signs of strength. We have the ascending trendline acting as support, which has been retested three times previously, confirming its strength. Recently, the BXY has been ranging inside a corrective descending parallel channel structure since the 25th of February 2021. Moreover, the price has bounced from the bottom of the parallel channel, and it was also rejected from the 50% retracement level. We are now in a critical area, which is highlighted in a red triangle on the chart. Suppose the BXY manages to break above the 50% retracement level. It will confirm that the corrective downside move has ended, and there is a higher probability of bullish continuation. However, suppose BXY manages to break below the ascending trendline and closes a daily candle below the 0% fib level. In that case, we can expect the index to meltdown towards the EQ line, which confluences with the -27.20% fib level extension. Shall the BXY continue the bearish momentum. We can expect it to drop towards our S/R area (133.00 - 134.00), which also confluences with both the -61.80% fib level extension and the lower trendline of the descending parallel channel. Analyzing market sentiment data, it is evident that dumb money (retailers) are heavily shorting the GBP, which indicates that the market will move in the opposite direction. As it has always been the case historically. BXY 1D: by UncleBullFX111
BXY In A Bullish Wedge After Test Of Support The Pound index forming a bullish wedge on the daily chart after retesting support. Front running bulls have already entered low-risk trades tight on support but will the pattern hold? As a bull myself in the long-term, I am focused more on upside potential than downside; although downward moves are key to entering long. It may not happen now, but I am anticipating a break of this pattern following some good herd immunity news from the UK. London has also the mayoral vote in the coming months which will also have some impact on London stocks, and no doubt some pound forex too. - Buy at support - Buy low - Keep a tight and well-managed stop loss - Targets above at resistance levels - Hold for a break near the apex Longby Youza2
BXY monthly chartAs posted earlier, BXY will be bearish for some weeks until it touches the major support.Shortby Idahokid0
BXY GAP TO COVERjust now BXY INDEX - Some gaps that needs cover before we see GU price start uptrending again.by MicWoodsFX2
BXY SHORT H4 and D1This was published 24 mins before Boris Johnson speech Will be awesome to see how his utterances will affect this Idea/Analysis This is strictly for experimental purposes to give me an idea whether speeches agree or disagree with currency indexesShortby Mish1870
BXY down As the BXY index falls GBP pairs will also be falling. Pairs to watch GBPUSD GBPCAD GBPJPYShortby Dion-FX0
Potential Reversal zoneThe Pound has been very bullish over the last couple of weeks but it has hit a major resistance level the has been consistent for several weeks. I expect the pound to test this area with fakeouts before revealing its true direction I would only test and scalp the pound for a short time interval until a more clear direction emergesby SoryKaba3
BXY ShortUK Stocks seem to be on a pending downward trajectory and that could have an affect on the British currency technically. The Idea is that confidence surrounding GB and its currency should wain as well as a result of sentiment related to the top UK stocks. Lets wait and see what the powers that be and economic factors decide before we commit to a bias Shortby Mish1871
Fluctuations with Zones -BXYA lot of uncertainty is happening with my analysis here, - n' is supposed to cause a bearish move but we have an active demand area 129.9. Alright, the BXY is Neutral . . At this profile page, the shared analysis, ideas and also, the strategy of a chart belong to Khiwe. The technical set-ups are speculative, they are not guaranteed for accuracy or in completeness in the form of any content; -it is not to advice on financial markets. Please apply your own analysis and confirm it with price action. by KhiweUpdated 1
Price Action AnalysisHow i do my analysis 1. Market condition 2. Support and Resistance 3. Signal by Prof_Fish123Updated 0
BXY analysislook at it and think before entering any pair included (GBP) .. Shortby FaisalalsalalUpdated 0