Trading the News: Bank of England Interest Rate Decision The Bank of England (BoE) interest rate decision may trigger a short-squeeze in British Pound and generate a relief rally in GBP/USD should the central bank talk down bets for an imminent rate-cut. What’s Expected: Why Is This Event Important: Even though the Monetary Policy Committee (MPC) warns ‘a majority of members expect to support ...
“The gap to open trading post-Brexit is thus far of the breakaway variety. The current level (slope line near 1.2800) and/or 1.2500 could inspire a ‘squeeze’ as part of consolidation before another leg lower. 1.2500 relates the 2009-2014 range (127.2% of that range from the 2014 high) and decline from 2007 (decline from 2014 = .618% of 2007-2008 decline).” 1.2800 is still the low and the outside week (last week) suggests that Cable is ...
Trading the News: U.K. Jobless Claims Change Even though U.K. Jobless Claims are projected to increase another 9.0K in July, signs of stronger wage growth may keep the British Pound afloat, with GBP/USD at risk of staging a larger recovery should the data tame market expectation for additional monetary support. What’s Expected: Why Is This Event Important: The Bank of England (BoE) is widely ...
Daily price is located below Ichimoku cloud for the bearish market condition: the price is breaking 1.2935 support level for the bearish trend to be continuing with 1.2795 nearest bearish daily target to re-enter. If D1 price breaks 1.2935 support level on close bar so the primary bearish trend will be continuing with 1.2795 nearest target. If D1 price breaks 1.3371 resistance level on close bar from below to above so the local uptrend as the bear market rally will be started ...
GBP/USD D1: bearish ranging within narrow levels. The price is located below Ichimoku cloud for the ranging within the following support/resistance levels: 1.2795 support level located below Ichimoku cloud in the bearish area of the chart, and1.3480 resistance level located below Ichimoku cloud in the beginning of the bear market rally to be started. If the price breaks 1.2795 support level to below on close D1 bar so the bearish trend ...
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