The British pound has posted very slight gains on Friday. In the European session, GBP/USD is trading at 1.3720, up 0.09% on the day.
The pound is yawning despite better than expected UK data today. GDP jumped 0.9% m/m in November, above the consensus of 0.4%, while Manufacturing Production rose 1.1% m/m, crushing the estimate of 0.2%. Both readings were above...
It has been a very good week for the British pound, which is up 1.29%. So good, in fact, that this will likely mark the pound's best week of 2021. On Thursday, GBP/USD punched above the 1.34 line for the first time in a month.
The pound's newfound strength is a result of stronger risk appetite. When Omicron first appeared on the scene several weeks ago, there...
Although US traders cheer extended weekend on Monday, UK PM Boris Johnson’s unlock plan details may help GBPUSD to entertain the markets. That said, the quote bounced off mid-April lows the previous day to regain the status above a five-month-old support line. However, the recovery moves recently fade around a downward sloping trend line from June 16. Hence, bulls...
During the last few days of the week we were able to see a quite big drop on GJ, as beneath there were massive liquidity zones.
Since the overall trend is still bullish we do expect price to push back up in order to take all the sellers' money by triggering their stop loss.
So our institutional profit level will be the previous formed equal highs...
PRICE action is stalling in this resistance area . if we see further rejections when markets open then we can take a nice short position for 200 pips+ if price does not make more rejection then we will not enter.
dont be hesitant and enter the trade without seing further price action especially in the lower time frames.
suggestion: wait for a 15m trendline break...
-brexit coming to an end very soon with a small chance of a deal going together
-another wave of covid in the uk
-price action keeps stalling the upside
-price resisting this area multiple times
-head n shoulders pattern
reason for this trade to not play out: banks might rise the price to take out sellers if the sell is too easy then...
The greenback could fall as Joe Biden takes the keys to the White House .
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Weekly ideas for FX:GBPJPY GB
Overall bearish trend so I will be looking for more downside from the pound with the news over the weekend of a national lockdown. Expecting a gap down upon market open.
We have US elections on 3rd November which will also play a role in GBP direction (Trump is pro Brexit)...
I will be keeping an eye on these levels of interest.
Okay so higher timeframe breakdown
Weekly - We have a rejection, pin bar from the trendline which is ideal for short positions
Daily - Reacting from the TL also
4h - Bearish PA starting to come into play.
Target first 139.600 area. 120 pip possibility.
Important levels marked in beige, from weekly and daily charts.
Greeting from The Trading Regime!
Our view on GBPJPY to close out the month
of July, is a continuation move to the 1.82/84
Price zone or even higher !
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We are using .5% risk on this trade with
A risk to reward of 1:3 Target 1.84.... ish