Currency Markets on UK Recession Watch - There has been high volatility in the Pound to Euro (GBP/EUR) exchange rate during the past week. GBP/EUR posted a fresh 9-month best conversion at 1.1735 early in the week before a slide to below 1.1600 after the Bank of England (BoE) policy decision. Weaker than-expected Euro-Zone data helped strengthen GBP/EUR to...
26/06/2023 - 1 Hour TF GBPJPY has been in a Bullish trend for quite a signifcant amount of time consitenly making Higher Highs as well as Lower Lows. Supported on the Weekly, Monthly, Daily & Hourly timeframes. Despite recent Bearish breaks we are looking for potential buys as we kick of the trading week. Recent news articles also points to a potential...
Hey Traders! 👋 For Day 39/100 of our challenge, we will look at EURGBP short idea and how we can trade the range Technicals: - Prior to range, structure was bearish - Strongly rejected 0.863 key level - Now retesting middle limit pivot area - 79% retracement rejected as well - Expecting the fill of range bottom at 0.852 Fundamentals: 🇪🇺 Despite ECB remaining...
There is no Bearish Divergence or anything at this level, but I have a pretty good feeling that GBP will be Bearish against both the CAD and the JPY in the near future, so I think this Bearish Crab has a good chance of playing out.
Price reversed off the overlap resistance at 1.2803 and fell all the way to the take profit target of 1.2728. What was important in this analysis was the stop loss placement and the take profit placement. In this video, Desmond covers how you can optimise your stop loss and take profit placements in your trading so that you lower your chances of prices spiking to...
Price is testing a major support level at 1.2684 which is a pullback support + ascending support + bullish ichimoku cloud. A bounce from here could see prices rise up towards the take profit target at 1.2830 which is a multi-swing high resistance. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a...
GBPUSD the price reversed to the bullish trend due to the strong support zone we have at the 1.2720 so from there will support the rising to get 1.2800 and above it 1.2841 otherwise, stabilizing under 1.2690 will be bearish to reach 1.2655 and under it will drop to get 1.2600 that will support the falling to reach 1.2655 and under it will be 1.2600 pivot...
The inflation battle is far from over in the UK. In fact, the nature of inflation is taking a new form as the root cause moves away from external to more domestically driven shocks. While the headline rate remained unchanged at 8.7%yoy in May, core inflation accelerated to 7.1% in May from 6.8% in April, marking the highest rate since March of 19922. In response...
GBPUSD is trading inside a Bullish Megaphone pattern after the March 8th bottom with the 1D timeframe still bullish (RSI = 61.970, MACD = 0.007, ADX = 32.900) despite the fact that the price has been on a pullback since the June 16th high. This is because the technicals were previously overbought and the harmonization process is longer. Technically when the RSI...
Hey Traders! 👋 For Day 38/100 of our challenge, we will look at an update on our GBPJPY long idea we sent last week. Technicals: (update to tagged idea) - We've rejected the 62% fib retracement - Created a new high above 182.500 - Expecting this break of high to clear 184.4 - If 181.2 is broken to the downside, invalid idea *** Note that this trade was based on...
We have some Hidden Bearish Divergence on the monthly MACD as the GBP is failing to get above the highs for the 3rd time. This could eventually lead to a huge breakdown that could take it all the way down to the 1.618 Fibonacci Extension.
Currency Markets on UK Recession Watch - There has been high volatility in the Pound to Euro (GBP/EUR) exchange rate during the past week. GBP/EUR posted a fresh 9-month best conversion at 1.1735 early in the week before a slide to below 1.1600 after the Bank of England (BoE) policy decision. Weaker than-expected Euro-Zone data helped strengthen GBP/EUR to...
After price expanded aggressively to the upside, it left behind an unmitigated imbalance. It then preceded to retrace back down, forming liquidity above an established demand zone that was formed before the previous expansion. It could potentially use this liquidity, with the aid of the demand zone, to fuel its move further upwards to take out liquidity that was...
Hey Traders, Check this Bullish setup on GBPUSD out. I will be waiting for a clear retest of the 50% fib before smashing the the buy button. Keep a close eye on it.
Hey Traders, in tomorrow's trading session we are monitoring GBPJPY for a buying opportunity around 181.700 zone, GBPJPY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 181.700 zone. Trade safe, Joe.
Hey Traders, in tomorrow's trading session we are monitoring EURGBP for a selling opportunity around 0.85750 zone, EURGBP is trading in a downtrend and currently is in a correction phase in which it is approaching the major trend at 0.85600 support and resistance zone. Trade safe, Joe.
GBPUSD is testing a key daily structure support. Analyzing the reaction of the price to that, I spotted a double bottom formation on 1H time frame. To buy the pair with a confirmation, wait for a bullish breakout of its neckline. Hourly candle close above 1.2737 will confirm the violation. A bullish continuation will be expected to 1.2787. Alternatively, if...
this pair is currently trading in an uptrend. with price currently at support, we would be looking out for a confirmation on the 1hr time frame to go long on this pair.