This pair has been in a steady decline. It is oversold on H4 and come up 65 pips to hit the H4 MA. OB on H1, M30 and M15. There is weakness on M30 and M15 RSI. 35 pip stop loss for about 70 pips gain.
EUR FUNDAMENTAL OUTLOOK: WEAK BEARISH BASELINE In recent weeks, the persistently high inflation has seen the ECB take a more hawkish turn with the bank hiking rates by 50bsp at their July meeting. But the bank quelled any hawkish excitement by explaining they are frontloading hikes and not signalling a higher terminal rate with their bigger than expected...
GBP FUNDAMENTAL OUTLOOK: WEAK BEARISH BASELINE The overall bleak economic outlook for the UK, with exceptionally high Inflation and rapidly falling growth have been the biggest negative driver for Sterling. At their August meeting, the BoE confirmed this bleak outlook by forecasting the UK economy to fall into recession by 4Q22 and expects the recession...
GBP FUNDAMENTAL OUTLOOK: WEAK BEARISH BASELINE The overall bleak economic outlook for the UK, with exceptionally high Inflation and rapidly falling growth have been the biggest negative driver for Sterling. At their August meeting, the BoE confirmed this bleak outlook by forecasting the UK economy to fall into recession by 4Q22 and expects the recession...
GBPJPY Intraday - We look to Buy at 160.40 (stop at 159.50) We are trading at oversold extremes. A higher correction is expected. Although the anticipated move higher is corrective, it does offer ample risk/reward today. We look to buy dips. Our profit targets will be 162.20 and 165.65 Resistance: 162.20 / 165.65 / 168.70 Support: 158.70 / 155.60 /...
GBP FUNDAMENTAL OUTLOOK: WEAK BEARISH BASELINE The overall bleak economic outlook for the UK, with exceptionally high Inflation and rapidly falling growth have been the biggest negative driver for Sterling. At their August meeting, the BoE confirmed this bleak outlook by forecasting the UK economy to fall into recession by 4Q22 and expects the recession...
EUR FUNDAMENTAL OUTLOOK: WEAK BEARISH BASELINE In recent weeks, the persistently high inflation has seen the ECB take a more hawkish turn with the bank hiking rates by 50bsp at their July meeting. But the bank quelled any hawkish excitement by explaining they are frontloading hikes and not signalling a higher terminal rate with their bigger than expected...
Hello, refer to the chart for an idea about selling EURGBP
Great Britian’s GDP Growth Rate data for June 2022 is released in a few hours' time. The British economy expanded 0.5% MoM in May, unexpectedly beating forecasts for a neutral month of growth. May’s reading stood in stark contrast in April’s –0.2%, March’s +0.1%, and February's 0.0% readings. The market forecast for June has the data returning to negative...
GBP FUNDAMENTAL OUTLOOK: WEAK BEARISH BASELINE The overall bleak economic outlook for the UK, with exceptionally high Inflation and rapidly falling growth have been the biggest negative driver for Sterling. At their August meeting, the BoE confirmed this bleak outlook by forecasting the UK economy to fall into recession by 4Q22 and expects the recession...
GBP FUNDAMENTAL OUTLOOK: WEAK BEARISH BASELINE The overall bleak economic outlook for the UK, with exceptionally high Inflation and rapidly falling growth have been the biggest negative driver for Sterling. At their August meeting, the BoE confirmed this bleak outlook by forecasting the UK economy to fall into recession by 4Q22 and expects the recession...
EUR FUNDAMENTAL OUTLOOK: WEAK BEARISH BASELINE In recent weeks, the persistently high inflation has seen the ECB take a more hawkish turn with the bank hiking rates by 50bsp at their July meeting. But the bank quelled any hawkish excitement by explaining they are frontloading hikes and not signalling a higher terminal rate with their bigger than expected...
GBPCHF Intraday - We look to Sell at 1.1711 (stop at 1.1745) Preferred trade is to sell into rallies. Previous resistance located at 1.1710. There is scope for mild buying at the open but gains should be limited. Expect trading to remain mixed and volatile. Our profit targets will be 1.1600 and 1.1550 Resistance: 1.1710 / 1.1758 / 1.1990 Support: 1.1570...
GBP – Sterling fell on Thursday after the BoE raised interest rates by the most in 27 years as it seeks to tame inflation now seen peaking at more than 13% but also warned that a long recession is on its way. Summarising the meeting and GBP’s reaction, ING simply stated “The pound is falling despite a 50 by hike by the BoE. The reaction mostly boils down to the...
EUR FUNDAMENTAL OUTLOOK: WEAK BEARISH BASELINE In recent weeks, the persistently high inflation has seen the ECB take a more hawkish turn with the bank hiking rates by 50bsp at their July meeting. But the bank quelled any hawkish excitement by explaining they are frontloading hikes and not signalling a higher terminal rate with their bigger hike. At their...
GBPCHF Intraday - We look to Sell at 1.1690 (stop at 1.1726) We look to sell rallies. Previous resistance located at 1.1690. There is scope for mild buying at the open but gains should be limited. Choppy price action seen. Our profit targets will be 1.1532 and 1.1455 Resistance: 1.1690 / 1.1758 / 1.1990 Support: 1.1570 / 1.1527 / 1.1450 Please be...
GBP/USD update The cable (GBP/USD) rose to 1.226, smashing the 50-day moving average for the first time since early February 2022, as speculators increased their expectations for a 50 basis point BoE rate hike this week, which would be the largest interest rate increase in 27 years, pushing borrowing costs to 1.75%, the highest level since 2009. With UK...