As GBPUSD was falling very hard from last few days because of some fundamental news specially braxit issues,
but now we can see a better reversal and first Elliot wave will start forming here
So You can just fly with the flow on GBP, i will never recommend long term trades but keep getting small profits with small exits, its better idea rather than risking heavy funds
If the daily candle doesn’t close above 1.299 while retracing to the Equilibrium of “Order Block of Supply”, which is the entry of this setup, I expect further dropdown to the Equilibrium of “Order Block of Demand” afterwards.
Please let me know if you have any suggestions or any ideas to add. I can also give...
GBPUSD is forming an expanding triangle in the daily chart. So this structure tells us that
this currency pair is in a down trend right now. I won't recommend anyone to short this currency because taking a short position right now would be a high risk, instead we should wait for the price to form a corrective structure or a pullback then sell this currency pair.
Hi fellow traders!
GBPUSD is currently trading around 1.31100.
It has the potential to rise all the way up, following the current EU summit taking place right now.
If the UK is granted an extension, this will rule the chance of No Deal out, which will allow the £ to strengthen.
Hopefully if it is a short one, it would be better as it would allow the UK to leave...
I guess one of the only non-political comment that you could make on this chart is to look for those former levels of resistance as support. But also though, to what degree is a deal priced in? Are Brexit deal fully priced into the cable? Staying clear of this pair. No hedgefund algos on my side. Good luck to Blackrock since they probably have the edge on this one...
A very clear and active trade on GBPUSD as per technical and fundamental analysis.
Open Buy Order at: 1.3014
TP 2: 1.3247
Do open your long trade with a proper money management and book some good profit on intraday trading
Much of the trading is focused on ranges as opposed to breakout with follow through potential. Moreover, while technicals are quite insightful to herd psychology, the fundamentals will be driving markets going forward in the next 24 to 48 hours ahead of us. This includes assets mostly affected by ongoing themes, such as the pound (GBPUSD) which has primarily been...
We are fast approaching a conclusion to the Brexit story. While no deal Brexit chances greatly increased over the past week with a short extension of April 12th, UK Parliament is still weighing over whether or not to pass May's deal, a rejection of which would even further heighten the chances of a no deal Brexit. If the House of Commons can pass May's deal, then...
An April 12th deadline is now looming above the heads of Europeans and the British as the UK find themselves situated as the estranged husband who refuses to sign the divorce papers. Right now there are six main scenarios:
1)Revoking Article 50 and cancelling Brexit
3)May’s deal plus a customs union
4)May’s deal plus both a customs union and...
Three more months is what's being asked for by May as the UK attempts to muddle its way through this going on three years long political fiasco. I'm sure you're more interested in the technicals, so here's my read: stay away. I won't trade this until there's some sort of a clearer picture of the direction of where Brexit is heading. Right now though, I'm...
During Friday’s trading session, the British Pound depreciated to the 1.2950 level. On Monday morning, the European Single Currency was located at the 1.2999 mark.
In regards to the near term future, most likely, the currency exchange rate will be trading sideways to stay at the 1.3000 level during the day.
On the other hand, the US Dollar might appreciate...
As I mentioned in last weeks post, we are currently testing that 1.29-1.30 support. This area is going to be extremely crucial in determining what comes next but I am expecting a retest of the 1.305 ish price mark before a continuation of the downtrend. The MACD bearish Divergence is now currently confirmed signaling the just now start of that downward trend. The...
The British pound is ending the month of February with a bullish move, up 0.50% after rumors of brexit delay in case a deal cannot be agreed on before end of March; offering some market relief and helping GBP/USD recovering almost all its February decline.
Looking at the chart, the pair is trading above its main MAs which indicates positive momentum. Also broke a...