Check the "related idea" below to see part 1.
Due to large volatility caused by various events in the recent trading sessions a broader look has been taken at the GBP/USD currency exchange rate. What was discovered first on the larger timeframes was that the pair is trading in a rather large scale descending channel pattern. The pair has bounced off this channel down pattern's upper trend line on 26th of...
Unfortunately my GBPJPY long position was stopped out during Labour's speech, coupled with comments from Barnier around UK progress on key areas like citizen's rights. On the daily time frame we have a perfect break, retest, followed by more bearish candles. Theresa May is speaking today and she will be doing her best to cement her position as a stable leader and...
GBP/USD has Fallen Nearly 300+ pips Since Rejecting 1.4000. THis Pair has now seen quite a divergence between the moving Averages as the new Fed Chair Powell Preaches hawkish overtones about Fed Hikes and Market Exhuberance. WIll The Cable Fall Again to Post Brexit Levels Yet Again? Looking at the chart techincally, we can see that the Weekly Ascneding Trendline...
GBPJPY is heavily oversold. The pound has been heavily oversold and is reaching the trend line support on the weekly chart. And as you can see from the markup, bears will have to breach the 50MAV on a heavily oversold weekly chart to continue bearish momentum. With fundamental data coming out which is expected to be Pound favorable, I am long on the Sterling.
Sterling has been guided by an ascending channel against its Canadian counterpart since late September 2017. The pair bounced off the lower boundary of a dominant channel on September 11 and has since rallied against the Loonie. The currency pair has moved closer to the border of a medium-term pattern and could be set for a breakout. From a theoretical point of...
The Pound Sterling has been constrained by a descending channel against the Swiss Franc after hitting the weekly pivot point near 1.3515. The upper boundary of a junior channel was reached on January 25. The Sterling's inability to make a new wave up suggests that it might breach the dominant channel in the next few hours. Technical indicators flash bearish...
400 pip target 125 stop, price broke the bullish trend line on 07/02 retested today 08/02 price couldn't maintain the upward momentum and now looks very bearish
The British Pound has been bound by an ascending channel against the Australian Dollar since the beginning of January. The lower boundary of the dominant channel was reached on January 11 and the pair has since remained trading along the channel. Meanwhile, a breakout from the upper boundary of the dotted triangle pattern can be observed on the chart. ...
The Pound has been steered by an ascending channel against the Aussie since early January. The movement started when the pair touched the lower boundary of the daily dominant channel. The Bull movement is likely to continue for a short period of time until it reaches the weekly and the monthly PPs near the 1.7803 mark. The overall market sentiment is bullish...
In this Analysis of "Sterling vs. Japanese Yen" I found the Fibonacci quite a useful tool, as you may have noticed. I found that the 50% Fibonacci level is quite powerful and after a bounce off this level can indicate further bullish moves as we have seen before. Also the 1.618% Fibonacci if achieved can also add confidence for a bull market. Notice on a 1H time...
This pair gaining the massive pressure thanks the healthy economy itself in U.K, plus interest rate just up and no reversal, plus U.S dollar plunging systematically, looks straight to 1.42200 thru 1.43353 and finally at 1.57000 thru 1.58000. However, keep an eye on lines, they are used to be accurate and you can follow them to go short and long. Looking for...
We saw key resistance broken on the 02/01, since then we have seen a retest and a rally to the upside. Now we are seeing price rising within a bullish channel an bouncing off the 20 EMA. A break to either side will trigger my trade.
Key points for entries (yellow lines). After been knocked out in this pair, we assume exactly the same theory from GBPUSD which target seems to be so far away and that's the reason I'd be looking for a set up and buy and hold, because the RRR will be incredible if we are right. We can use yellow lines with arrows to take short and long position. Anyway we have to...
Going to be shorting GBPUSD on Monday; it had some stong momentum after all the talk of a soft brexit but it is time for a bit of a retracement. There is a consolidated resistance level which can be seen on the chart. Furthermore, the RSI indicator by @ChrisMoody shows that the pound is heavily overbought. I'm setting the stop loss just above the resistance. Regards, Sven
Please see related idea below. In step 1 we took some pips within the structure while we waited for it to break. In step 2, we took more pips as price broke out of the structure (as described in related idea). I was too busy to post the chart here though. Now in part 3, we see the price has came back down to test the structure that it has broken out of today....
In Upcoming sessions we will be looking for Long Opportunity in Sterling . best of Luck !
The Pound has recently ended trading in the junior channel down pattern on the four hourly chart pattern against the New Zealand Dollar. The move was expected due to the fact that the currency pair had touched the lower trend line of a highly speculative medium term channel pattern. The dominant channel is considered speculative, as its trend lines are mildly...