In a Daily Timeframe GBPJPY has dropped 942 pips. As we all know GBPJPY moves a 1000 pips .. We currently have a few Pips more to complete this phase..
The weekly candle closed as a Doji ( Dragonfly) there’s a possibility this could either be a continuation or Reversal.With price closing above 140.750 which we all know happens to be a strong level of consolidation.
Last three candles in the 4hr Timeframe appears to be a morning star candle formation. Morning star candlestick reversal pattern occurs after downtrends. Heikin Ashi in a 4 hour timeframe also shows price closed bullish but under 140.750 .
Daily Heikin Ashi closed Bearish .
Weekly Heikin Ashi also closed Bearish .
Ema in the weekly Timeframe also shows a bearish trend, so is Daily and hour 4 Timeframe. Massive Rejection in all 3 Timeframes at support with wicks spiking in a crazy manner.. Hour 4 Timeframe still has 15pips move to complete the run to 141.000. In a Daily Timeframe price is still Below the Fibonacci 23.60%. We currently waiting to see how the Daily Close will happen on Monday to determine where price will be heading..
News on Tuesday>>
Public Sector Net Borrowing (Aug 21, 10:30)
Link
The Net Borrowing released by the National Statistics captures an amount of new debt held by the U.K. governments (the financial deficit in the UK national accounts). Generally speaking, if the Net Borrowing is negative, it means the UK Accounts are surplus, and that should be positive for the GBP. While a deficit is generally unfavorable for the economy, a growth in the Net Borrowing is considered as negative, or bearish for the GBP.
CBI Industrial Trends Survey - Orders (MoM) (Aug 21, 12:00)
Link
The CBI Industrial Trends Survey is released by the Confederation of British Industry and gives expert qualitative opinion from senior manufacturing executives, on past and expected trends in output, exports, prices, costs, investment intentions, business confidence and capacity utilization. Usually, if those opinions show a hawkish outlook in the manufacturing sector, that is seen as positive, or bullish, for the GBP.
NEWS www.myfxbook.com/for...ex-economic-calendar
The weekly candle closed as a Doji ( Dragonfly) there’s a possibility this could either be a continuation or Reversal.With price closing above 140.750 which we all know happens to be a strong level of consolidation.
Last three candles in the 4hr Timeframe appears to be a morning star candle formation. Morning star candlestick reversal pattern occurs after downtrends. Heikin Ashi in a 4 hour timeframe also shows price closed bullish but under 140.750 .
Daily Heikin Ashi closed Bearish .
Weekly Heikin Ashi also closed Bearish .
Ema in the weekly Timeframe also shows a bearish trend, so is Daily and hour 4 Timeframe. Massive Rejection in all 3 Timeframes at support with wicks spiking in a crazy manner.. Hour 4 Timeframe still has 15pips move to complete the run to 141.000. In a Daily Timeframe price is still Below the Fibonacci 23.60%. We currently waiting to see how the Daily Close will happen on Monday to determine where price will be heading..
News on Tuesday>>
Public Sector Net Borrowing (Aug 21, 10:30)
Link
The Net Borrowing released by the National Statistics captures an amount of new debt held by the U.K. governments (the financial deficit in the UK national accounts). Generally speaking, if the Net Borrowing is negative, it means the UK Accounts are surplus, and that should be positive for the GBP. While a deficit is generally unfavorable for the economy, a growth in the Net Borrowing is considered as negative, or bearish for the GBP.
CBI Industrial Trends Survey - Orders (MoM) (Aug 21, 12:00)
Link
The CBI Industrial Trends Survey is released by the Confederation of British Industry and gives expert qualitative opinion from senior manufacturing executives, on past and expected trends in output, exports, prices, costs, investment intentions, business confidence and capacity utilization. Usually, if those opinions show a hawkish outlook in the manufacturing sector, that is seen as positive, or bullish, for the GBP.
NEWS www.myfxbook.com/for...ex-economic-calendar