As the British Pound approaches a major support level of 1.4000, we think it is akin to peering over the edge of a cliff. With one of the worst headline inflation rates in the developed markets, crippling energy bills, and a newly elected government, the Bank of England (BOE) is in a place few would want to be in. As the next policy meeting date nears, the...
_____ Technically ______ 1. Big Bearish Divergence played out on a bigger TF 2. Trendline Cracked 3. Traffic Pattern FIB Retracement to 61.8% and continuation towards the targets 4. Bearish Trend Continual after a swing high on a Larger TF (D,W) _____ Fundamentally _____ 1. The Bank of England is forecasting a recession in the UK starting in the fourth quarter...
GBPUSD D1 As per the above video analysis, 1.22 support breach, followed by a retest of the underside of 1.22 (acting as res). Strong confluence stack like we have been discussing over the last couple of days. Really want to see price pull down south of 1.21500 to break the trend officially. And therefore see this D1 bear pull see another wave.
GBPUSD H4 This 1.20 handle has been holding out really well for us, and have offered many trading opportunities (mostly shorting) in line with dollar strength. Evident b2b hikes with risk flows and global trade fuelling dollar bid. Small correction seen over the last week or so, but still very much on track for further dollar extensions. Cable expected to see...
The Euro may be readying to push higher against the British Pound in the aftermath of Thursday's Bank of England monetary policy announcement. There, it was revealed that two policymakers seemed further hiking as 'not appropriate'. EUR/GBP has been steadily falling since 2020, with recent months on the premise of a more hawkish BoE compared to the European...
GBPAUD H4 Break of structure seen now, support held at 1.75600 has now been broken convincingly, just looking for price to correct and retest the underside and hold as resistance, this can be our short zone.
The Pound has extended its weakness against the U.S Dollar as the UK economy slips closer to a recession. The UK cost of living crisis, which is down to high energy prices, rising taxes, and now higher interest rates is increasing the public mortgage, credit cards, car loans, student debt and other debt payments, causing investors to question the amount of...
GBPJPY M30 Lower timeframe analysis here, but please refer to the video analysis above for more detail. We are climbing comfortably on the break and retest play. YEN softening due to BOJ projections and outlook. ***YEN gaining across the board.
EUR/GBP was rallying on Wednesday on the diverging policy expectations from the Bank of England and the European Central Bank that meets on Thursday. This will be a key and popular meeting among central bank watchers as the Governing Council has the unenviable task of being the first team from the major central banks to provide an assessment of the impact on the...
We have seen a news release come out on forex factory around NY open about the expected Interest rate decision by the Bank of England. It turns out that it is indeed expected of the BOE to raise interest rates for the second time in a row. This has not occurred since 2004. This is positive news for the EURO as inflation is not necessarily a bad thing. The cost of...
Ok it is time to have a another look at EUR/GBP as the Bank of England expected to raise rates this week and here we are inching down to the 2020 low at .8275, which is looking exposed – failure here will target the 200-month ma at .8182. I have been a technical analyst for over 30 years and can categorically state that over time, markets tend to mean revert to...
As you know GBP were bullish since a month ago. its because the fundamentally factor. BoE rate high is the key on this situation. meanwhile the fed still not yet take action on the inflation. that makes gbp strong on the fundamental side. as you know that on the last nfp ,the report was so bad. that makes dollar more in suffer these day. investor still waiting for...
GBPJPY is Arriving at a weekly Volume Resistance. lets see how the price behave at this level marked on the chart. There are also high impact news today and tomorrow on Pound and Yen. I am short biased but still the price is in an uptrend so I am waiting for a correction of at least 150-200 Pips. The MACD also shows a divergence on a 2hr time frame and a heavy...
Surprise rate hike! The Bank of England (BoE) delivered an interest rate hike of 0.15% during their monetary policy announcement last Thursday. Out of the nine committee members, eight voted for a rate hike while one voted for rate to remain unchanged at the previous 0.10%. All nine members voted for no change of corporate bond purchases at £20 billion and UK...
GBPJPY H4 Lets see where we move towards today following BOE. Another big economic event which is going to cause a stir and shake up to the markets, especially GBP markets of course... Break and retest seen and GBP bulls as mentioned on our IG post. Lets see what comes out of BOE and whether hikes surface and GBP rallies.
GBPUSD could be setting up a long swing opportunity within the next days. We made it into the turn around area today. So far a signal to turn is missing . Price could still go all the way down to the blue line . Therefore keep it on the watch list for now and look for turning signals. Also bear in mind that on thursday the BOE will have a meeting about...
Q: What has the highest probability of occurring? In 2021 cable has also been rotating between $1.42 and $1.37. There are 2 classic patterns, 1 is validated. The double top, with a recent breakout of 1.3650 is validated. This pattern projects 1.3100 as the target. The double bottom , having recently tested and rejected 1.3600, would need to breakout from...
GBPAUD H4 Annotations and order details marked for the possible sell setup, another 10 pips upside required for the RR offering of 3R. Ideally would like to see some sort of confirmation rejection too, we have 3 confluences, but still looking extremely bullish. Lets see if we start to exhaust around this price zone.