GBPUSD was seen rebounding off from the bottom of an ascending triangle within a demand zone. The price has retraced from the rebound was supported twice at 1.3030 and may be ready to take off very soon. Furthermore, GBPUSD is still experiencing the process of a ranging market and thus it makes sense to simply buy at the bottom.
GBPUSD will probably be headed sideways until the April 12th deadline after which if there is a no deal (unlikely) then the price will crash through the floor. But if there is an extension longer than a few weeks, I think we can expected to see price action gravitate towards the monthly resistance downward trend.
Good evening from the UK. Being from the UK the embarrassment I feel from our government is unbelievable! Oh well, we may aswell capitalise from their stupidity. Strong words but who cares, I'm here for the pips. Now in a time like this where there is a lot of heavy fundamentals (economic data) that could affect bias' lets not start with that. Ultimately ALWAYS...
WITH ALL THE BREXIT NOISE INVESTORS ARE SCEPTIC ABOUT THE STERLING @ THE MOMENT - WAIT FOR BREAKOUT - WAIT FOR PULLBACK - EXECUTE WHEN THERE IS SOLID CONFIRMATION #Clean charts #Naked trading #Technicals
A few points to keep track of before the potential final vote on May's deal. First, whats being voted on is entirely different from previous votes. The details are complicated, but essentially the previous failed votes are now broken up into two main sections (which is apparently contrary to previous UK laws passed, but whatever) and the EU asserted that it would...
Pound Sterling The British government and the Pound along with them seem to be totally confused on what action to take. The Pound has been in a flat and the British parliament has also been undecided on what direction they plan to take things. It has been a long and unproductive 2.5-year ordeal after the initial Brexit vote. The outcome is worrisome, Prime...
With all of the indicative votes failing in the House of Commons and PM May's deal looking increasingly unlikely to pass, the UK is now in serious jeopardy of an accidental crash out of the EU. The price of the pound does not reflect this pact and incredibly the historic 10-day volatility of the pound has dropped back down to relatively normal levels. I am still...
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...
Reflecting on the first quarter of 2019 today as we approach the end of March and taking a look at one of the currency pairs that has dominated news wires and trading desks alike, that is, of course, Cable (GBPUSD). 2019 has seen the tumultuous asset trade from lows of 1.2441 all the way to highs of 1.3381, although it may not be the most aggressive rally or the...
Pound/Sterling may hold some surprises. I have spotted a major curve suggesting probability for the upside. Just don't expect it go go up in a nice smooth way. Brexit is likely to hold some favourable surprises for GBP/ pairs in the longer term. Into April, expect high volatility and trouble.
Here we go again guys you know what to do....same plays from the loading zone...by now I hope most are locked and loaded in full positions. Unfortunately we have more Brexit politics in play with PM May sending a letter to the EU council asking for an extension this morning. From good sources the EU will accept on the assumption May can get her deal through...
Traders are now aware of the April 12th deadline and that it will be extended into May if Parliament passes Prime Minister May's deal she made with the EU earlier in the month. However, the last deal she presented to Parliament lost by a staggering 150 votes. That's quite a bit to make up in 20 days. And what traders are probably not pricing in yet is the...
Same as GBPJPY, sterling is very bearish right now. The set up was based on a simple break and retest of the support/liquidity zone (the blue stripe). We can see a huge green shooting star rejected the zone. The spike is more or less due to the FOMC announcement, which also wiped out my other two trades. Then, on the 1H, we see an evening star formation, where I...
Even though EURO is rocketing to the sky and hit my SL. POUND is performing well. With the delay Brexit talk pushed to June, GDP is sinking. The setup was simply based on support break and retest. On the 1H chart, you can see 3 times rejection by the support, formed a 3-pin pattern. The target is hit.
Now is a good time for a quick chart update ahead of the BOE and Brexit countdown. PM May playing politics with a "Queens Gambit"….by asking for the short-extension till the end of June she is trying to force MPs hands to vote for her deal... Options from the EU are still either for (short) Mid-May or (long) lasting into 2020. The risk scenario which will send...