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Poundsterling

GBPNZD: Looks Bullish!!! GBPNZD was consolidating for quite a while within a narrow hourly trading range. the price formed a triple top there and finally, we see a breakout of the range to the upside. it will most likely trigger a strong buying reaction and the price will go much higher. goals: 1.9525 1.9572 (+ if you check daily/weekly chart you will notice that the price is trading on a strong horizontal structure atm, it increases the chances of a coming bullish wave)
Long
by VasilyTrader
12
GBPCAD: Bearish Continuation morning, traders! GBPCAD has reached a strong resistance cluster two days ago, the resistance area is based on a confluence point between a horizontal 4h structure and the resistance line of a falling parallel channel. on the hourly time frame, the price formed a double top with a lower high, confirming the strength of the underlined yellow structure on 4H. during US session the price has violated its minor support and now trading below. bearish continuation looks highly probable. goals: 1.7 1.694
Short
by VasilyTrader
25
British Pound/US DollarHere's something I'm currently working on with the British Pound/US Dollar. Why do I believe that Price Action will head further down? 1. P.A. broke a huge O.B. last week ($1.2980-1.3035). Precursor. 2. A new O.B. had formed ($1.3062-$1.3082) at the peak after breaking through the previous O.B. 3. The green candles underneath current price signifies potential *profit margin*. 4. Even though the previous O.B. was broken, it can still push price down to some degree. What if it does the opposite? I'll readjust, and wait for a B.A.R. of the $1.3062-$1.3082 levels to take it to the upside. We shall see... Also, if my analysis help YOU in any way, shape or form then please consider donating to the cause. It's appreciated.
by ChrisJTradesFX
3
Weekly recap: Pound’s Attempts to Reverse See Substantial GainsGBP/USD Last week, 28th September – 4th October, cable was on a tear, being supported by good GDP stats released on Wednesday. However, the upside price action remained under pressure from the lack of a breakthrough in Brexit trade deals talks between the EU and the UK. With the end of talks on 16th October, the negotiators have two weeks to reach a consensus. On Monday, 28th September, GBP/USD opened at 1.2770, 30 pips above the previous week’s close. Rising as high as 1.2930, the pair closed the day at 1.2829. The price continued edging up on Tuesday and Wednesday, closing above 1.29 on Wednesday’s trading session. Rollercoaster volatility was seen on Thursday, with the price going from 1.2950 to 1.2819 between 5:00 and 9:00 UTC, rising as high as 1.2978 in the subsequent four hours, to close the day at 1.2884. On Friday, the pair recovered the losses undergone throughout the day and closed in the green at 1.2929. The cross rate is still currently in a downtrend because last week’s high was still below the previous high recorded on 17th September. However, this upswing price action consistently going throughout the week is a good indication of buying pressure behind the British Pound. On top of that, the pair bounced off the lower boundary of the uptrend price channel that has been following the GBP/USD price action from 18th May. This clearly shows that the market still sees positivity in the British economy, even despite the lackluster developments in Brexit trade deal talks. The closest goal at hand for GBP/USD in reversing the downtrend is breaking through the 1.3021 daily resistance level. Once the price capitalizes above it, the downtrend will be over, and move buying volume will start to accumulate, adding to cable’s recovery. GBP/EUR On the week of 8th September, GBP/EUR opened at 1.0954, following the moderate upside retracement in the pair a week before. The GBP/EUR trading has been very mixed, with green and red candlesticks alternating throughout the week on the daily timeframe. Traders tried to take down the 1.1055 daily resistance level in one aggressive upswing on Monday, but that was doomed to fail, with selling orders placed right above it and the 50-day SMA clearly adding to the downside pressure on the pair. After that, volatility cooled down, and the price closed slightly below Monday’s open on Tuesday. Later in the week, mixed trading continued, with sellers and buyers trying to take the upper hand within a limited price range with no clear result, which indicates a lack of clear reading of the market situation and divided sentiment. On Friday’s session, the pair edged slightly higher, being propelled by the negative CPI (0.2% versus 0.5 market consensus) and core CPI (-0.3% versus -0.2% market consensus) in the eurozone. However, the price edged higher to run into the 50-day SMA, which continues to put pressure on the pair’s upside attempts. On top of that, the 1.1055 is another key barrier, which is where the sellers are ready to drive the pair lower once it comes close. Breaking above the 50-day SMA and the 1.1055 level is clearly seen as key things for continued EUR/GBP upside price action, and both barriers are the sellers’ last lines of defense. With the ongoing uptrend that began on 13th September, the trend power is on the buyers’ side, but the lack of a breakthrough in Brexit trade deal talks may tilt the balance in sellers’ favor.
B
by KonstantinAnissimov
Weekly recap: GBP/USD above 1.2700, GBP/EUR above 1.095GBP/USD The week ending 27th September opened for GBP/USD at 1.2913. Until Wednesday, 23rd September, the price was in a steady correction, but having reached the 1.2689 daily support level, the pair consolidated above the support level. There have been two more attempts at driving the price below 1.2689 in the week’s two subsequent trading sessions, but both attempts were denied. The stabilization of the GBP/USD price above 1.2700 gives some hope of an uptrend reversal to the buyers. This move is especially notable in the light of last week’s rally in the U.S. dollar index, which saw the greenback add 1.70% against the basket of six majors. Probably some positivity was added by Great Britain’s Finance Minister Rishi Sunak saying on Thursday that his staff was working on plans to support jobs over the winter as reported by Reuters. Also, the ascending channel, formed using the lows of 18th May and 30th June, is still working for the pair, with the price clinging to its lower line from Wednesday through to Friday. However, there is still much downside pressure behind the pound, largely generated by the uncertainty around the Brexit trade deal talks and by the returning measures against COVID-19 spread in the UK, with the numbers of newly infected people growing fast. The recent restrictions included the ordering at the pubs to close at 22:00 and postponing football fans’ return at the matches of the English Premier League that was scheduled for the 1st October for an uncertain period of time. This week on Wednesday, the UK's GDP for Q2 will be released, with the market expecting a shrinking of 20.4% and Boris Johnson hoping to see an upbeat figure that will demonstrate the efficiency of his government. The report will show whether there are implications of ongoing positivity in the British economy or a lack thereof. Therefore, there might be reduced volatility in the pair before the data release, with high-net-worth traders saving their liquidity to make a decisive move when the report is published. The closest goal for the buyers this week be a breakthrough above the 50-period moving average on the 4-hour chart, which slid below 1.2850 at last week’s close. The British GDP data will decide much in this respect, and if the breakthrough happens as a continuation of the ongoing consolidation above 1.2700, it will ease selling pressure on the pair and generate more buying volume. GBP/EUR EUR/GBP opened last week at 1.0905, going as low as 1.0848 on Tuesday and closing Tuesday’s session at 1.0877. On Wednesday, the pair began a rebound, which saw it retrace the downside price action of the first two days and rise to 1.0954 at the week’s close. Last week, the pair was trading around the 50-period simple moving average on the 4-hour timeframe, going below and above it multiple times, having finished the week comfortably above it, which makes further upside price action only more likely. Local resistance is awaiting GBP/EUR at 1.1000, where the previous downside reversal happened. If that barrier gets broken, further upside opportunities will be open before the pair. But that will quite heavily depend on the UK’s economic outlook and the developments around the talks between the UK and EU on a Brexit trade deal. From the graphic viewpoint, an ascending triangle might be forming now on the GBP/EUR daily chart, adding to the chances of a breakthrough above 1.1000. This level will remain key for this week: if the level stagnates below it, it may put the sellers in control, but a breakthrough will generate a stronger uptrend. Before that happens, the pair will contact the 20-day simple moving average, which is hanging above the price at around 1.0984. The Eurozone CPI that will be released this week on Tuesday is an important package of economic data. The EU CPI and the British GDP will be the two most important reports this week and will largely affect the odds of a breakthrough above the resistance level at 1.1000.
by KonstantinAnissimov