BXY trade ideas
British Index will GAP UP when market opens this weekBXY (British Index) will GAP UP when market opens.
Will it go back up to daily trend line to correct the drop since March 6?
Will it only correct 61.8% before its continuation back down?
~Always remember to look left!
<--- Q~Q
BXY technicaly exepcting higher bearish market market
ENTRY: 127.5
TP: 126
TP2: 125
TP3: 124
SL: 129.5
Chart time frame - 1D
Time for reaching TP - 2-5D
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BXY 2020-Feb-17 show weakness of Pound.
In this week (Feb 17 - 21), Pound family will drop.
In general, we SELL LIMIT the Pound
British Pound Index (The fate of pounds in( Brexit)The pounds index has two ways to determine the future of the pounds by breaking the level of 143.5. The break of the symmetrical triangle will be on the weekly and its coming also is an important date on march 11, when the decline or rise is determined and when the above level is broken it will rise to the top and its front will be important stations the first level 167 and the second level of 199 As for the alternative scenario A break of 119 is for a drop to the lower levels, as shown on the chart, as long as it is between the 143 and 119 levels.
British Pound (GBP) Making Turn at Inflection PointBritish pound currency index...As of mid-day trading on Dec. 26 the pound is bouncing off the 130 level, after dipping to 129.
Shorter-term the upside target is 134 to 135, the area of the Dec. 12 peak. That 134 region is a longer-term resistance area, extending back to mid-2018. A continued rise above 134 and 135 would indicate that the GBP is rising to its next major resistance level near 143.
A continued decline is bearish, as all those who speculatively bought GBP on the initial upside breakout would be trapped and pressured to sell, putting further downward pressure on the GBP.
The selling pressure begins to mount below 130, with a move below 128 likely causing a sharp decline as a significant number of stop losses get hit.
Disclosure: long GBPJPY on an unrelated strategy.
BXY Bull is nearAccording to the analysis above, we expect the GBP to see bullishness at the area highlighted, we will search weak currencies to sell against the pound.
Trade with care.
Is It Time To Short GBP?With GBP index at the extreme optimism level, it could possibly mean the time to short the currency is around the corner - just in wait for further price rejection after the inside bar candlestick
