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GBPJPY 20/8/2023Starting our week off the same way we have the last few weeks with GJ. Now on Friday we had a slow day for PA but overall we did put a new sell range in, showing deeper sell side prices are to be expected for the next expansion on GJ, now there are some keu points to keep in mind with the range. firstly we have a very weak break on our SWL, this tells us that price is slowing down on the sell side so we should use caution on entry into our sell trade. Secondly we have a very low volume POI as it sits within out Asia range which has a lot lower levels of liquidity than our NY and LDN. thirdly we have a C-swing POI that has pushed price out of our SWL poi bringing us into the 50% level of our range, we also have the ASIA high above our SWH so overall very low risk if we enter this range overall. **KEY NOTE** Jackson hole meetings this week that always shake up the markets so please keep an eye on that event! Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan. We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
by PipSurfingSociety
🔥 NEW: GBPCAD 🔥 DT SWING 🔥Requested by: @YOUNGMILLIONS21 SLO @ 1.7310 📉 SSO @ 1.7250 ⏳ TP1 @ 1.6725 TP2 @ 1.6235 TP3 @ 1.5875 TP4 @ 1.5325 BLO @ 1.4860 ⏳ While major moving averages are reflective of strong buying pressure, overall, the major oscillators are nearing indicating sell signals. This could be point to Price Action being in Supply. The RSI indicator and the MACD indicator are neutral, but the Stochastic oscillator is overbought. STRATEGY: PIP MOVEMENT Scalping: 10 pips Intraday trading: 10-50 pips Swing trading: 50-100 pips Position trading: 100-200 pips
Short
by ProfessorCEWard
4
The Bank of England's DilemmaOf the three central banks that I primarily trade, the Bank of England (BOE) has the biggest puzzle. Today's data was the worst possible for Governor Bailey and his team. Specifically, employment fell by 66,000 and the unemployment rate ticked higher by 0.2% for the second month in a row to 4.2% (the Federal Reserve would be delighted with this turn of events). On the other hand, wages continue to rise in the UK, with the ONS noting that June recorded the highest annual wage growth rate since comparable records began in 2001. In addition, we are now seeing real wages/earnings move back into positive territory for the first time since the end of 2021. The nightmare of central bankers is coming true. What does this mean? It just raises further concerns that the squeeze on the economy is starting to translate to the labor market. And in that lieu, it could lead to a sharper downturn in the quarters to come. This only validates further concerns that the UK could be facing the risks of stagflation, which is certainly not something that the BOE would like to see. Add in higher financing costs and tighter credit conditions alongside the cost of living crisis, and that's not quite the recipe for the pound to be optimistic in the bigger picture. The data is one side of the coin, but the other, more important side, is the chart, as everything is drawn on it. The area described in the previous analysis has so far prevented bears from another charge. The key level for supply is currently 1.2819 . It should be maintained if the falls are to pick up pace. It is also worth paying attention to whether the supply will remain in the downward channel (red lines). We still have important US data today, namely retail sales, which will tell us how strong the American consumer is - this may have a significant impact on GBP/USD prices.
by FinancialMindd
GBPJPY: Key Levels & Technical Outlook 🇬🇧🇯🇵 Here is my latest structure analysis for GBPJPY. Resistance 1: 183.77 - 184.25 area Support 1: 181.10 - 181.30 area Support 2: 180.44 - 180.71 area Support 3: 176.30 - 177.05 area The market is currently approaching the Resistance 1 based on the year's high. Its bullish breakout - daily candle close above will push the prices much higher. Alternatively, a bearish breakout of Support 1 may trigger a correctional movement. ❤️Please, support my work with like, thank you!❤️
Short
by VasilyTrader
9
GBPUSD: The beginning of the end?I'm expecting full on GBP weakness over the coming weeks, regardless of what happens with the dollar. We've broken below the months of ascending trendline and so far failed to break back above, we have a beautiful bearish engulfing candle on the 4hr close from Friday. I get this pair wrong a lot (because I live in the UK and can see a car crash happening in slow motion...), so will definitely not be jumping in. We have big US CPI data on Thursday at 13.30 GMT, if inflation figures are worse (lower) than forecast then this will be good for the GBP in the short term - however I'm thinking that the best will happen is a failed retest of the trendline and I'm thinking we're starting the move back down - just deserts for how the BoE have performed imho.
Short
by Finchcliffe
GBPJPY: Breakout, Retest, Down...In my recent ideas I’ve noted JPY strength resuming and this is evident in the performance last week, and we can see this when looking at the JPYWCU chart which is like DXY for the Yen. We can see what could be a higher low forming and a fourth retest of the resistance around 0.005350 which could break. We’ve seen out-performance of the Yen against many crosses in the past week, which has generated good pips, it’s too early to suggest a strong recovery (especially as BoJ clearly want a weaker currency to support exports), however they have an economy that when recessions start to hit, I believe they’ll fair better. All crosses against yens are at their high points, this doesn’t mean they can’t go higher, but money flows and I believe the shift is starting. I’m expecting GBP weakness over the coming weeks due to high inflation and massive threat of recession, and definitely this week against the Yen, so looking for shorts around 181.4. First target will be 167 area.
Short
by Finchcliffe
GBP/USD -Flirting Resistance *W - Great British Pound seen on a more broader picture of Weekly Time-frame *W (tf) . Flirting with Trendline Resistance that rejected price action on 4 times of interactions previously. Fakeout occurance would be put to stop by 200EMA coming down as Resistance Ceiling for GBP/USD Breakout of Trendline + 200EMA re-testing them as Supports would give much more room for growth regarding GBP Below Supports - Daily Order-Block *D OB - Last Higher Low at 1.18$ - Weekly Order-Block *W OB TRADE SAFE ! *** Note that this is not Financial Advice ! Please do your own research and Consult your own Financial Advisor before partaking on any trading activity based soly upon this Idea.
by Mr_J__fx
4