Premium3 468x60 forex
Page 14 of 14 FirstFirst ... 4 12 13 14
Results 131 to 135 of 135

GBP Technical Analysis

This is a discussion on GBP Technical Analysis within the Forex Trading forums, part of the Trading Forum category; It was a climactic weekend for UK politics, and we're now just months away from the summit with the European ...

          
   
  1. #131
    Senior Member TechnoMeter's Avatar
    Join Date
    Apr 2013
    Posts
    1,557
    Blog Entries
    363

    GBP/JPY - possible daily bullish reversal

    It was a climactic weekend for UK politics, and we're now just months away from the summit with the European Union to decide on a final agreement for the UK divorce from the bloc. That meeting is set for October 18-19, and the proverbial plot has thickened as time draws closer to that looming date on the calendar. As we warned on Friday, a potentially contentious debate amongst PM Theresa May’s cabinet was on the cards for later in the afternoon. We weren't even really sure what was going to be debated until details started to flow late Friday night/early-Saturday morning; well after trading had closed for the week.

    GBP Technical Analysis-gbpjpy-d1-metaquotes-software-corp.png


    On a longer-term basis, the backdrop for continued weakness could be justified. But its noteworthy that we're basically in a digestion formation at this point: Prices broke-below the bullish trend-line that held the lows in the pair for the last nine months of 2017, and even helped to produce a support inflection in February. This bearish break of that bullish trend-line happened in May, and later in June, prices reflected off of the under-side of this trend-line projection. Since then, we haven't yet seen bears able to push down to fresh lows.
    We've seen both lower-highs and higher-lows, indicating digestion after the earlier-year pick-up in volatility.

    more...
    Trading blogs || My blog

  2. #132
    Senior Member TechnoMeter's Avatar
    Join Date
    Apr 2013
    Posts
    1,557
    Blog Entries
    363

    EUR/GBP Technical Analysis: Bullish Breakout

    The Euro may be on the cusp of launching a sustained move higher against the British Pound after breaching nine-month trend resistance.

    GBP Technical Analysis-eurgbp-w1-fx-choice-limited.png


    With the series of lower highs and lows established from October 2017 now invalidated, prices look poised to challenge the March 7 high at 0.8968. A daily close above that opens the door for a test of the October 12 peak at 0.9033. A look at shorter-term positioning seems to argue against buying in however. The four-hour chart reveals that the near-term uptrend has been broken, with a deeper pullback possible if the pair manages to get below 0.8924. From a tactical perspective, it seems premature to commit to commit on the long side before this retracement finds a demonstrable bottom.

    more...
    Trading blogs || My blog

  3. #133
    Senior Member TechnoMeter's Avatar
    Join Date
    Apr 2013
    Posts
    1,557
    Blog Entries
    363

    GBP/USD: Weekly Bearish Reversal

    The latter-portion of last week saw a strong bounce develop in GBP/USD, and this came after the pair tested below a key psychological level for the first time since last September. As we wrote earlier during the week, the down-trend in the British Pound was very much in-focus as we approached a read of inflation out of the UK for the month of June. Markets were looking for inflation to perk-up to 2.6% after two consecutive months at 2.4%, but the actual print gave us a third straight month at 2.4% to further muddy the water for the Bank of England.

    GBP Technical Analysis-gbpusd-w1-fx-choice-limited.png


    Inflation strength is no longer as prominent, and in the wake of last week’s inflation report, prices dipped below the 1.3000 level for the first time since last year. But – as we wrote shortly after, GBP/USD was still very oversold. We looked for two areas of potential resistance may that could’ve opened the door for bearish strategies. But – no resistance showed at either, and prices are now finding a bit of support on the zone that we were looking at that runs from 1.3083-1.3100.

    more...
    Trading blogs || My blog

  4. #134
    Senior Member TechnoMeter's Avatar
    Join Date
    Apr 2013
    Posts
    1,557
    Blog Entries
    363

    EUR/GBP Technical Analysis: ranging to bullish

    GBP Technical Analysis-eurgbp-w1-alpari-international-limited.png


    The Euro is attempting to revive its four-month uptrend against the British Pound after recoiling from chart resistance above the 0.90 figure. Prices now sit squarely at the confluence of the rising trend floor set from mid-June and a former upside barrier guiding the down move from October 2017, now recast as support.

    more...
    Trading blogs || My blog

  5. #135
    Senior Member TechnoMeter's Avatar
    Join Date
    Apr 2013
    Posts
    1,557
    Blog Entries
    363

    GBP/USD: Bearish Breakdown

    GBPUSD: Retail trader data shows 70.5% of traders are net-long with the ratio of traders long to short at 2.39 to 1. In fact, traders have remained net-long since Apr 20 when GBPUSD traded near 1.40482; price has moved 9.4% lower since then. The number of traders net-long is 4.5% lower than yesterday and 7.3% lower from last week, while the number of traders net-short is 1.6% lower than yesterday and 9.7% higher from last week.

    GBP Technical Analysis-gbpusd-w1-fx-choice-limited.png


    We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBPUSD prices may continue to fall. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current GBPUSD price trend may soon reverse higher despite the fact traders remain net-long.

    more...
    Trading blogs || My blog

Page 14 of 14 FirstFirst ... 4 12 13 14

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •