After briefly breaking the 12-month high from May 2022 of 1.26670 this week, a wave of selling came in amid a big news week. The Bank of England (BoE) jacked up the UK Bank Rate to 4.5%, marking the 12th hike in a row. Despite two dissenting votes, the committee expects more tightening if price pressures persist. This could mean the rate peaking around 4.75% by...
GBP/JPY SHORT GBP/JPY is currently in a overbought market with the RSI being 82.25 so some kind of retracement is imminent , having also broke out of the Bollinger bands i am certain that GBP/JPY will short here I'm shorting around the 171.700 level with my stop loss just above the low volume node and expect the price the retrace to the previous support level...
Hey Traders, Check this sell opportunity on GBPAUS, after the break of the lower band ascending channel. Price went back up to retest and confluence with the previous OB / supply area. After the break of the ABC pattern, a sell opportunity can be look for. Alternatively, a break above the supply could mean more bullish movement Stay close.
Hey Traders, in the coming week we are monitoring GBPUSD for a selling opportunity around 1.247 zone, GBPUSD was trading in an uptrend and successfully managed to break it out. currently waiting for a correction to see a potential retrace of the trend from 1.247 support and resistance zone. Trade safe, Joe.
Hey Traders, in today's trading session we are monitoring GBPCHF for a selling opportunity around 1.127 zone, GBPCHF is trading in a downtrend and currently seems to be in a correction phase in which it is approaching the major trend at 1.127 support and resistance zone. We would consider some potential CHF longs as it's considered a safe haven currency. Trade safe, Joe.
Japanese yen strength over time. While the yen underperformed during the global monetary tightening phase, in our view, the currency has scope to outperform later this year. We now believe the BoJ will take advantage of a tactical opportunity to further tweak its policy settings in Q4-2023 to further normalize the government bond market. Such a policy move adds...
Pound Sterling briefly dipped after the GDP data on Friday, but still found support on dips with GBP/USD around 1.2530 and GBP/EUR at 1.1475. The Pound to Dollar (GBP/USD) exchange rate strengthened to 1.2640 in an immediate response to the Bank of England policy decision on Thursday. There was, however, a notable reversal later in the session as risk appetite...
Pound Sterling briefly dipped after the GDP data on Friday, but still found support on dips with GBP/USD around 1.2530 and GBP/EUR at 1.1475. The Pound to Dollar (GBP/USD) exchange rate strengthened to 1.2640 in an immediate response to the Bank of England policy decision on Thursday. There was, however, a notable reversal later in the session as risk appetite...
After the yesterday's pullback, EURGBP reached a wide horizontal zone of supply. 0.873 - 0.8765 is the area from where the next bearish move will most likely initiate. The next goal for the sellers will be 0.866 Because the underlined area is quite wide, look for an intraday confirmation before you sell. ❤️Please, support my work with like, thank you!❤️
On this pair, the price is ascending towards the 1.1145 area where we have a demand zone that aligns with the setup of the second strategy Forex48 2.0. The objective is to wait for a bounce in this zone and enter a long position with a target of 1.1291. Let me know in the comments what you think. Happy trading to everyone.
• Despite hawkish message delivered by the BOE today, recent USD strength is putting pressure on the pound and all the majors • We have a couple of Dojis in the recent past sessions which showed a slowing bullish momentum followed by a big bearish candlestick today • Bears are testing the 20 SMA which has been supporting the prices for a while • While there is a...
Fundamental Analysis GBP/USD market movers The governor of the Bank of England, Andrew Bailey, recently spoke about how the inflation readings for April are expected to show a significant drop as the effects of higher fuel and food prices from last year are no longer in the equation. Although there are signs that inflation is easing, Bailey also mentioned...
On this pair, we have a clearly bearish price with an excellent entry point identified around 1.2550. The objective is to wait for a textbook retracement before entering short. I remind you that I am following the Forex48 strategy. Let me know what you think. Happy trading to everyone. Forex48 Trading Academy
Monetary Policy: A Hawkish Stance? The BoE's impending monetary policy decision is a critical factor underpinning Sterling's performance. The analysts' consensus is that the BoE will adopt a hawkish stance, with a 25 basis point hike in the bank rate. This move would bring the bank rate to 4.50%, in line with market expectations. "We expect the BoE to hike...
Monetary Policy: A Hawkish Stance? The BoE's impending monetary policy decision is a critical factor underpinning Sterling's performance. The analysts' consensus is that the BoE will adopt a hawkish stance, with a 25 basis point hike in the bank rate. This move would bring the bank rate to 4.50%, in line with market expectations. "We expect the BoE to hike...
The GBPNZD pair has given us a wonderful buy signal last time we looked at it (January 26) as the analysis below shows, hitting our 2.000 target: The price is now on the 1D MA50 (blue trend-line) and is a critical level as its closing will decide the short-term trend. If this 1D candle closes below it, we will sell and target the 1D MA200 (orange trend-line)...
Hey Traders, in today's trading session we are monitoring GBPUSD for a selling opportunity around 1.26000 zone, GBPUSD was trading in an uptrend and successfully managed to break it out. Currently GBPUSD seems to be in a correction phase in which it is approaching the retrace zone at 1.26 support and resistance zone. Trade safe, Joe.
EURGBP formed a bullish harmonic abcd pattern on a daily. Approaching its completion point, the price bounced and broke a resistance line of a falling wedge pattern on 1H time frame. I expect a pullback to 0.871 / 0.8727 ❤️Please, support my work with like, thank you!❤️