Resistance - 1.4617, 1.4636, 1.4670 Support - 1.4550-1.4533, 1.4473, 1.4436 Pair's rejection at larger falling trend line along with bearish price-RSI divergence on intraday charts led to a drop as anticipated earlier today. Bearish pressure may gather pace if - Spot breaks below 1.4533 (strong support this week) or sees an hourly close below 1.4550...
US preliminary estimate of Q1 GDP is due for release today. The growth rate is seen coming-in at 0.6% compared to previous quarter’s growth rate of 1.4%. Q1 slowdown is seasonal That is a marked slowdown; however, note that Q1 is usually the weakest in the US and strongest in Eurozone. Plus, the recent slowdown is well know and pretty much priced-in. Fed’s...
Resistance – 1.4533, 1.4480, 1.4474 Support – 1.4578, 1.4617-1.4636 Cable’s bearish break from rising channel on hourly timeframe led to a drop to hourly 50-MA as anticipated earlier today. Spot found support at 1.4533 (50% of 1.4669-1.3835). Stage is set for a drop further to rising trend line support at 1.4480-1.4474 if Fed turns hawkish. Note –...
It appears there is little room for Fed to move rates before December. Raising rates a day or two ahead of UK referendum is a risk; hence June rate hike hint may not come through Fed statement today. Nevertheless, if Fed intends to move rates in June, then the telegraphing process has to begin now and thus a hint could be given through April statement. The...
Please see annotated chart for rationale.
GBP/USD clocked a high of 1.4451 on Friday, before trimming gains to end the day at 1.44. The day end closing was just above the inverse head and shoulder neckline level of 1.4395. The upside break comes after US President Obama urged Britons to vote in favor of EU membership. GBP bears worry that could force Britons to rethink about the consequences of Brexit...
Resistance – 1.4392, 1.4436, 1.45 Support – 1.4350, 1.43, 1.4252 GBP traded weak as expected in Europe, but bears failed to keep it below 1.4320, with prices now breaking higher from triangle formation on a 5- minute chart. A re-test of inverse head and shoulder neckline at 1.4392 appears likely. A violation there would expose 1.4438 levels. On the lower...
Resistance – 1.4350, 1.44, 1.4438 (100-DMA) Support – 1.4308-1.43, 1.4252, 1.4223 (50-DMA) A weaker-than-expected UK retail sales was largely in line with our expectations and the Pound is now flirting with looking to take out support at 1.4308. The currency pair was losing ground in anticipation of weak data; hence immediate reaction following the data release...
Price action yesterday Cable made multiple failed attempts to take out inverted head and shoulder neckline seen yesterday at 1.4402. The second attempt was widely expected to result in an upside break since the pair bounced off from around key support level of 1.4350 after dismal UK labor and wage growth data release. However, dollar demand was strong in the NY...
Resistance @ 1.442 Target 1 @ 1.426 Keep you updated!
GBP/USD breached falling channel seen on the daily chart in the NY session yesterday and tested supply around the inverse head and shoulder neckline hurdle. Prices clocked a high of 1.4419 before bullish move ran out of steam. The bird is losing height in early Europe today; now trading around 1.4350 levels. Points to be noted heading into data release ...
We took profit on cable long yesterday around 1.4435, for the past 24HRS we have seen a familiar pattern in the pair and we go short from here: 1.4400. From this level we expect price to break 1.4328 down and continue lower. We are entering this position with small lots with posibility to add after the break of 1.4328. If the pair manage to break the 1.4328, the...
We have a decent looking Gartley Pattern forming here on the 15 minute GBPUSD chart.
Gbpusd is currently in the triangle oscillation Immediately to complete a 5 wave structure will have a good rise space
INtraday short from this levels with a potential very good Risk Reward