Get started

Pound

GBPJPY: Imbalance & False Breakout 🇬🇧🇯🇵 Feels like we have a good example of stop hunt and imbalance on GBPJPY. The market is consolidating within a horizontal range on a daily. We saw a breakout attempt of its support in the morning and the market was even trading beyond that for some time. However, then we see a formation of a bullish engulfing candle - the imbalance. It makes me think that this bearish move was simply a manipulation. I expect a growth now to 182.3 level. ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
9
Pound H1 | Rising into resistanceThe Pound (GBP/USD) is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 1.21061 which is a pullback resistance. Stop loss is at 1.21680 which is a level that sits above the 38.2% Fibonacci retracement level and an overlap resistance. Take profit is at 1.20371 which is a swing-low support. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
1
GBPUSD: Expecting a bounce from hereLooking at this pair and comparing it to the DXY index I think there's more likely to be a bounce from here, than a further bearish extension. DXY is failing to break a descending dynamic trendline, it's currently retesting again and showing signs of rejection. Fundamentals were good for DXY today but the price didn't react as I would have expected, which suggests the bears are strong here. GBP showing a nice bullish pinbar on the 4HR today (even though this was followed by a bearish one following rejection from resistance), we're now back down to this region as a retest but has slowed. I may be wrong, but with GBP rejecting support and DXY rejecting resistance, we could see a nice strong move, watching LTF's for my entry, target 1.225 to retest the descending dynamic trendline that stopped yesterday's advance - we may breach this on this occasion, if we do I'm noting an uptrend (HH's and HL's) on higher timeframes.
Long
by Finchcliffe
6
GBPUSD: Rejection at descending trendlineWe saw GBPUSD spike today following the favourable employment news and then reject the descending trendline (confirmed with doji and then rejection). Fundamentally there has been negative PMI data (manufacturing was green but still below 50) to support my view, so I think the bigger downtrend will continue. I also don't believe the USD is done yet, it will remain strong due to current International conflict, the risk this brings and the need for dollars. Keeping a close eye as always on the fundamentals this week, but if we breach 1.2165 - 1.250 (yesterdays support area) then we should hit my target area.
Short
by Finchcliffe
2
GBPJPY H4 | Rising into resistanceGBPJPY is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 184.257 which is a pullback resistance that aligns close to the 78.6% Fibonacci retracement level. Stop loss is at 185.900 which is a level that sits above a swing-high resistance. Take profit is at 181.398 which is a pullback support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
Pound H4 | Heading into 50% Fibo resistanceThe Pound (GBPUSD) could rise towards a pullback resistance and potentially reverse to drop lower towards our take profit target. Entry: 1.22138 Why we like it: There is a pullback resistance that aligns close to the 50.0% Fibonacci retracement level Stop Loss: 1.22716 Why we like it: There is an overlap resistance that aligns above the 61.8% Fibonacci retracement level Take Profit: 1.21063 Why we like it: There is a pullback support that aligns with the 78.60% Fibonacci retracement level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
GBPUSD: Retracement, maybe reversal?Been watching this pair closely and made some good pips in the past week, however I got spooked last night and closed my sells (albeit 50 pips too early), but my calculation seemed to be broadly right. To me it's looking like a fake out below my support line and back through this resistance which is being retested but I think we're going back up. USD not flying as I think it should (and has previously) with conflict, I think we'll see some retracement in DXY which will benefit this pair, it's been too bullish for too long imho and I believe we'll see profit taking. GBP nailed on I think to raise rates again this month following the hanging of inflation data yesterday. This will benefit XXXUSD crosses in forex, commodities and indices. I'm only expecting this to retrace to the descending trendline for now which will be my TP.
Long
by Finchcliffe
GBPUSD NEXT MOVESticky UK CPI earlier this week was not enough to maintain the pound’s turnaround as geopolitical tensions in the Middle East remains the dominant theme at present. Diplomatic efforts to address the conflict have since been diminished after a hospital explosion, stoking pressures within the region between Israel and Hamas. The safe haven US dollar will draw greater attention in this environment but the address by Fed Chair Jerome Powell later today (see economic calendar below) will be the focus for cable. GBP/USD ECONOMIC CALENDAR (GMT +02:00)
Long
by Ttrade-With-Logic
GBPJPY H4 | Falling to 50% Fibo supportGBPJPY is falling towards a pullback support and could potentially reverse from here to bounce higher towards our take profit target. Entry: 180.953 Why we like it: There is a pullback support level that aligns with the 50.0% Fibonacci retracement level Stop Loss: 179.634 Why we like it: There is a swing-low support that aligns below the 61.8% Fibonacci retracement level Take Profit: 182.830 Why we like it: There is a pullback resistance level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
Pound H4 | Rising into 50% Fibo resistanceThe Pound (GBPUSD) could rise towards a pullback resistance and potentially reverse to drop lower towards our take profit target. Entry: 1.22138 Why we like it: There is a pullback resistance that aligns close to the 50.0% Fibonacci retracement level Stop Loss: 1.22716 Why we like it: There is an overlap resistance that aligns above the 61.8% Fibonacci retracement level Take Profit: 1.21063 Why we like it: There is a pullback support that aligns with the 78.60% Fibonacci retracement level Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
1
GBPUSD: Bearish continuation, setting up for a nice drop?Expecting another hike from the FED in November, supported by hawkish comments across the board to focus on reducing inflation to 2%, this is supported by positive data. Real yields (bond yield - inflation) are positive for the dollar, they're negative for GBP and EUR. We may still see another hike from BoE but the economy is in a mess. Need to watch for US Inflation data and UK GDP data this week. Saw a nice bounce on this pair Friday but I think the fall will continue down to around 1.20, so waiting for a rejection from resistance on the LTF's and will then get in.
Short
by Finchcliffe
GBP/USD: Bearish Momentum Continues, Watch for Oversold BounceThe British pound fell to a new record low against the US dollar on Wednesday, October 18, 2023, after the Bank of England raised interest rates by 0.75 percentage points, but signaled that it may slow the pace of hikes in the coming months. This suggests that the BoE is more concerned about a recession than about inflation, which could lead to further weakness in the pound. Other factors weighing on the pound include the ongoing political uncertainty in the UK and the prospect of a prolonged economic slowdown. The UK economy is already facing a number of headwinds, including high inflation, rising energy costs, and labor shortages. A recession in the UK would likely lead to a further weakening of the pound. Technical Analysis 30-Minute Chart On the 30-minute chart, GBP/USD is currently trading in a bearish downtrend. The price is below the 20-period and 50-period moving averages, and the MACD indicator is below its signal line. This suggests that the bears are in control and that the price is likely to continue to fall in the near term. The next support level is at 1.2100, followed by 1.2050. The next resistance level is at 1.2250, followed by 1.2300. 4-Hour Chart On the 4-hour chart, GBP/USD is also trading in a bearish downtrend. The price is below the 20-period and 50-period moving averages, and the MACD indicator is below its signal line. This suggests that the bears are in control and that the price is likely to continue to fall in the near term. The next support level is at 1.2100, followed by 1.2050. The next resistance level is at 1.2250, followed by 1.2300. Daily Chart On the daily chart, GBP/USD is also trading in a bearish downtrend. The price is below the 20-period and 50-period moving averages, and the MACD indicator is below its signal line. This suggests that the bears are in control and that the price is likely to continue to fall in the near term. The next support level is at 1.2100, followed by 1.2050. The next resistance level is at 1.2250, followed by 1.2300. Elliot Wave Theory Based on Elliot Wave Theory, GBP/USD may be in wave 5 of a bearish 5-wave Elliott wave pattern. This suggests that the price is likely to continue to fall until the wave 5 pattern is complete. I hope this post is helpful. If you agree with the idea, please follow and share this with others too. This analysis is based on the information at the date it is posted. This analysis does not represent professional and/or financial advice. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content found on this profile before making any decisions based on such information. Any feedback is encouraged and appreciated. Thank you and have a nice day!
Short
by YExplore
GBPAUD: Breakout of support and dynamic trendlineWe've had a breakout of both support and descending dynamic trendline with no retest, which I'm expecting. I can't see us retesting the dynamic trendline so considering shorts on the LTF's when we return to the resistance (formerly support) line. Expecting Aussie strength and Pound weakness, we may go higher with the interest rate decision from the BoE this week (so if I'm in a trade I'll often pull out before the news or at least get the SL tighter as oscillation often reduces in the few hours before the news), so will be on guard for this, however I don't think we'll break back into the rising trend.
Short
by Finchcliffe