Most commonly referred to as the “pound” the pound sterling is the official currency United Kingdom, Wales, Scotland and Northern Ireland. Along with the United States Dollar, the Euro and the Japanese Yen it makes up the basket of currencies and is the third most held reserve currency in global reserves. The central bank for the pound sterling is the Bank of England and it is the fourth most trades currency on the foreign exchange market.
Cable has resumed its downtrend and can test recent cycle lows.
As we said in our Market Movers comments yesterday, Brexit discord (and high uncertainty) both within the UK and between the EU and the UK continues to keep sterling soft. Poor manufacturing data yesterday morning - the lowest PMI reading in more than two years - has also not helped.
Technically, ...
Midterm forecast:
While the price is below the resistance 0.9305, beginning of downtrend is expected.
We make sure when the support at 0.8965 breaks.
If the resistance at 0.9305 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Trading suggestion:
There is a possibility of temporary retracement to suggested resistance zone (0.9045 to ...
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 1.7650 would begin in Midterm.
We will close our open trades, if the Midterm level 1.7650 is broken.
New trading suggestion:
Price may also reach 1.7650, if price reaches this level, there is a second chance to get more profit and reinvest ...
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast the beginning of uptrend.
Technical analysis:
There is a divergence in RSI and price between the trough at 1.3205 on 2018-05-29 and the trough at 1.2955 on 2018-07-19, the probability of downtrend continuation is decreased and the probability of beginning of ...
We can see from weekly that volatility became apparently small since 2017.
weekly
https://www.tradingview.com/x/5AtpjbcJ/
140.000 - 155.000 Both of the upper and lower of the range are blank.
Therefore, if you go outside one of the upper and lower ranges, it may be possible to expect volatility to recover.
Since it is the most recent range, I will aim for ...
eurgbp has been keeping a narrow range since May.
As you can see, YPP (P) does not work and MPP (P) is functioning.
As you can see from Weekly, it is a range quote in the long run.
https://www.tradingview.com/x/cTJ1GijB/
It seems that you can aim for long after confirming support of MPP (P).
<< tactics >>
1) MPP (P) 0.88187 is functioned as a support ...
The daily chart of the GBP/JPY has formed a Full Elliot Wave.
It is poised for a bullish correction in the form of ABC Wave.
The pair is also in downchannel formation and there is a good possibility that it will go towards its upper trendline.
It has also formed a morning star pattern in the candlestick pattern.
So as per the above analysis,we can expect the bulls ...
A small intraday trading idea on the EURGBP 15 mins chart. Can be held post the target for more upside considering the targets on the lower timeframes. This is a small intra-day trade for me.
The trade is given based on the idea of catching trade entry along with trend during pull back with clear reversal signal (price rejctions at strong Resistance).
Let us see the result.
Midterm forecast:
While the price is below the resistance 1.9965, beginning of downtrend is expected.
We make sure when the support at 1.9350 breaks.
If the resistance at 1.9965 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Price may also reach 1.9350, if price reaches this level, we may enter by Daily-Trading-Opportunities, this ...
GBP USD having spot at 1.3169, near about 50% Fibo Level , next resistance is 1.3200 and support is 1.3140 for today, if market break these level from both sides direction would be confirm of the market,
From the chart, the price is now at the crossroads, it's also a prefect example for technical analysis .
It has already formed a bearlish bat from 2016.07-2016.05, and successfully reached the target price; Now, the D-point is converted to X point and form a bearlish bat again with the potential reversal zone made by 2.24BC and 0.886 XA.
There is also a ...
![GBPNZD: [New Chart]: There is a new opportunity to sell in GBPNZD...](https://s3.tradingview.com/j/JGnAVSY1_mid.png "[New Chart]: There is a new opportunity to sell in GBPNZD...")
![GBPNZD: [the crossroads] Bearlish bat in GBP/NZD or triangle breakout](https://s3.tradingview.com/g/GI36wqsK_mid.png "[the crossroads] Bearlish bat in GBP/NZD or triangle breakout")