the entire month gbpusd is consolidating. we have a wide horizontal range and the best trading opportunities are lying strictly on the boundaries of it: shorting the market from resistance and buying from horizontal support for trend followers, the best strategy is to wait for a breakout of the range before taking any action. *we can not estimate how long the...
the entire month gbpusd is consolidating. we have a wide horizontal range and the best trading opportunities are lying strictly on the boundaries of it: shorting the market from resistance and buying from horizontal support for trend followers, the best strategy is to wait for a breakout of the range before taking any action. *we can not estimate how long the...
We look to Buy at 139.50 Trading within the Wedge formation. The sideways consolidation continued although the market managed to post a significant high at 140.30. We have a Gap open at 139.47 from 22/11/2019 to 24/11/2019. Positive overnight flows lead to an expectation of a firm open this morning. Further upside is expected and we look to set longs in early...
Hello everyone, hope you are doing well this week. My eyes are on GBPCAD now, waiting for the reversal zone for potential bearish harmonic deep crab pattern. Daily RSI is screaming to take a rest and strong divergence can be seen as well. On the other hand, GBPCAD is the most overbought sterling pair during the past few months which also assists my selling idea....
Fundamentally, we are waiting for the general elections in early December. We had negative , below expectations figures today for the UK PMIs. Technically, sterling is trading in a slightly down channel which could be a bull flag given a very fast recovery from all time lows recently. On the daily chart, we have 2 scenarios: 1- prices keep trading in a range and...
A good time to update for those tracking the GBPJPY position I posted yesterday will remember the timely entry, those unfamiliar with the chart can see here: Risk-off is entering back into the picture and JPY is finding a strong bid, with Pound in election mode momentum is not particularly impressive to the upside. A Conservative majority seems a done deal...
GBPUSD has been consolidating since the UK Parliament was dissolved. As a result, the pound has been trading sideways as it prepares for a bigger move into one of the two directions. At this point of time, it's hard to tell what's the next move. In my opinion, the risk is to the upside as the market seems to be over saturated with Brexit and its impact on the...