GBPJPY is correcting lower towards key supports at 130.70 & 130.05. Looking to buy a dip towards here in anticipation of higher prices in the short term. Trade Idea Posted a Double Bottom formation. Price action has broken from the previous formation. A mild correction has been posted from yesterday’s high, this is seen as a retest of the breakout level. We...
The horizontal line are potential sell targets. It can go even deeper.
It seems that the price will hit the bottom twice.
The price didn't fourth-tapped the buy stops yesterday. Equal(ish) intraday highs first formed on the 23rd August, tapped for the second time on the 27h August and tapped for the third time on the 29th. The root of yesterday move was from Friday's high. It went down and almost tested last week's low but it didn't close inside the liquidity pool to warrant me for a...
Sterling Pairs, if you zoom out to the daily chart, had been in a sell-off run (bid run for EURGBP) for a few months now. For GBPCHF, the sell-off all started, technical-analysis wise, after the institutions tapped in 1.3375xx-1.338xx early may, forming an equal high formed two months previously. Fundamental/Sentiment analysis would suggest that this was due to...
-MONTHLY CHOOTING STAR CLOUSRE -DAILY MORNING STAR -TRENDLINE BREAK -PRICE FAILS TO BREAK ABOVE MONTHLY RES -MA CROSS TO THE DOWNSIDE WITH PRICE SITTING UP MA'S
Trade Idea The medium term bias remains bearish. Potential Head and Shoulders formation taking shape. Although we remain bearish overall, a correction is possible without impacting the trend lower. We look for a re-test of the downward trending support. Bespoke resistance is located at 129.45. Further upside is expected although we prefer to set longs at our...
Trade Idea Price action looks to be forming a bottom. A bullish reverse Head and Shoulders is forming. We have a 38.2% Fibonacci pullback level of 1.2115 from 1.2075 to 1.2240. Although the anticipated move higher is corrective, it does offer ample risk/reward today. We look to buy dips. We look to Buy at 1.2120 Stop: 1.2075 Target 1: 1.2240 Target 2: 1.2270
Looking at a basket of Sterling pairs on a variety of time-frames. (You can add this to your own watchlists by copying this code: GBPAUD*GBPCAD*GBPCHF*GBPJPY*GBPNZD*GBPUSD*GBPEUR ) There appears to be some evidence of a bottom shaping on the 4-hour chart. Expecting a bumpy ride with Sterling, but I believe the Risk/Reward is looking favourable in the short...
We can currently see Sterling move just above the weekly support at 1.20000 which also happens to be a major psychological round number. Looking at the daily it seems to reject the charted support as shown, however there is a lot of strength to the downside caused by the politics including a possible no deal Brexit in the UK and the ever rising US Dollar as we...
By Andria Pichidi Pound Crosses UK Prime Minister Boris Johnson tweet-reminded his government’s position: “We are ready to work with our friends and partners to get a deal. But if you want a good deal for the UK, you must simultaneously get ready to come out without one.” Johnson, who will be meeting Germany’s Merkel and France’s Macron this week, is above all...
Trade Idea Price action looks to be forming a top. In line with the possible early stages of a head & shoulders pattern and the strong rejection of gains, we look to set shorts in anticipation of a swing lower. We have a 50% Fibonacci pullback level of 0.9207 from 0.9090 to 0.9324. There is scope for mild buying at the open but gains should be limited. Further...
TIME FOR A CORRECTION IN THIS DOWNTREND -ALL TIME LOWS -WEEKLY PINK TREND-LINE REJECTION
While I have a hard time seeing the Pound gaining much strength over the coming months, right now that is where the technicals are pointing me for the time being. We're above the kumo, we have a bullish kumo twist, and chikou span is above price. So, all the bullish confirmations are there that I need. I've set my entry level right above previous price resistance...