bajajharsimran
Long

Bank Of England is coming :) Watch out

FX:EURGBP   Euro Fx/British Pound
4 months ago
  • With Bank of England ready to Cut its Interest rates to record low of 0.50 by cutting 25 basis points this will be first policy action in 7 years and also continue its Quantitative Easing at £375 billion.

  • Therefore Pound is looking ready for a selloff also Reuters reported that speculators were holding record short positions on pound,
    which sets the scene for a big bounce if they decide to hold.

  • In any Case We need to be Prepared therefore i have marked a Short Term Consolidation Pattern (Triangle) suggesting a break on either side.
  • With the the Fundamental back drop i am a Seller of Pound going into the event i also marked a Long term Demand Zone in case there is a Surprise and they(BOE) decide to hold for a while.

Disclosure: i already have a position long in the pair and will add on above mentioned zones.

If you like my analysis please hit the like button to support

FX:EURGBP            
4 months ago
Comment: Holding 21 EMA will be key going forward
3 months ago
Comment: New Highs for the boy :)
bajajharsimran
4 months ago
Its a Cut by 25 basis points as expected and they also increased the asset purchase by 60 billion.
Reply
bajajharsimran
4 months ago
its breaking{bad ;) } higher now have a look
Reply
bajajharsimran
4 months ago
snapshot
Looking Even Better with flag formation on 1 Hour Check it out.
I am seriously loving this weak Pound Targets of 0.86 open now need some good momentum :)
Reply
bajajharsimran bajajharsimran
3 months ago
Played out nicely :)
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out