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GBPNZD H4 | Rising into overhead resistance?GBP/NZD is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 2.05730 which is a pullback resistance that aligns with the 23.6% Fibonacci retracement level. Stop loss is at 2.07000 which is a level that sits above a pullback resistance level. Take profit is at 2.02931 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. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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. 74% 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. FXCM Australia 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
GBP/USD Continues to Soar: Can the Bullish Run Persist?GBP/USD Continues to Soar: Can the Bullish Run Persist? The GBP/USD pair is on an impressive streak, notching its sixth consecutive day of gains and reaching a nearly three-week high during the Asian trading session. With the spot prices hovering just below the key 1.2300 round-figure mark, it's evident that the US Dollar (USD) is feeling the heat, facing a persistent bearish trend. The recent series of dovish comments from various Federal Reserve (Fed) officials has prompted investors to dial down their expectations of aggressive monetary tightening by the US central bank. This trend has exerted downward pressure on US Treasury bond yields, eroding the strength of the Greenback. In particular, Atlanta Fed President Raphael Bostic emphasized that further interest rate hikes are unnecessary and that there's no impending recession. Moreover, the prevailing risk-on sentiment has added to the USD's woes while bolstering the GBP/USD pair. Despite escalating geopolitical tensions in the Middle East, the decreasing likelihood of more rate hikes by the Fed has encouraged investors to seek higher returns in riskier assets. This has fostered a positive market tone, evidenced by gains in the equity markets, thereby diverting investments away from traditional safe-haven currencies, including the US Dollar. Nonetheless, it's important to note that the markets are still pricing in the possibility of at least one more Fed rate hike before year-end. This factor tempers the enthusiasm for aggressive bearish USD positions. Furthermore, expectations that the Bank of England (BoE) will keep rates unchanged in November might act as a ceiling on the GBP/USD pair. The BoE unexpectedly paused its rate-hiking cycle in September and provided little indication of its future rate intentions. As the GBP/USD pair extends its recent recovery from the 1.2035 region, which marked its lowest point since March, traders are advised to await strong follow-through buying before considering an extension of the bullish run. Market participants are eagerly awaiting the release of the US Producer Price Index (PPI) and the FOMC meeting minutes, which are expected to provide substantial market-moving insights during the North American session. Attention will then shift to Thursday's unveiling of the latest US consumer inflation data, which could offer further clarity on the currency pair's future trajectory. Short-Term Setup - Our preference: Short positions below 1.23400 with targets at 1.22250 & 1.21800 in extension.
Short
by FOREXN1
17
GBPAUD H4 | Falling to 38.2% FiboGBP/AUD is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 1.90757 which is a pullback support that aligns close to the 38.2% Fibonacci retracement level. Stop loss is at 1.89740 which is a level that lies under a pullback support that aligns with the 61.8% Fibonacci retracement level. Take profit is at 1.92371 which is a pullback resistance that aligns with the 38.2% Fibonacci retracement 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. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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. 74% 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. FXCM Australia 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.
Long
by FXCM
Pound H4 | Potential bearish reversalThe Pound (GBPUSD) is rising towards a pullback resistance and could potentially reverse from here to drop lower towards our take profit target. Entry: 1.22716 Why we like it: There is a pullback resistance that aligns close to the 23.6% Fibonacci retracement level Stop Loss: 1.24457 Why we like it: There is an overlap resistance that aligns with the 38.2% Fibonacci retracement level Take Profit: 1.20371 Why we like it: There is a swing-low support 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
GBPNZD: Curve Analysis (8D) — CTT⚠️ A countertrend CTT) trade is a trade that is made against the prevailing trend. This means that the trader is betting that the trend will reverse and that the price will move in the opposite direction of the BIG PICTURE Curve Analysis. Countertrend trading can be a very profitable strategy, but it is also more risky than trend following. -SL @ 2.1800 🚫 SLO2 @ 2.1550 ⏳ SLO1 @ 2.1050 ⏳ TP1 @ 2.0100 (shaving 25%) TP2 @ 1.9300 (shaving 25%) TP3 @ 1.8715 (shaving 25%) TP4 @ 1.7800 (closing ALL Sell Orders) BLO @ 1.7585 ⏳ Let's try this AGAIN, now that momentum is indicating price action is in overbought territory. That's great news for shorting this pair.
Short
by ProfessorCEWard
3
GBPNZD H4 | Potential bearish reversalGBP/NZD is rising towards a pullback resistance and could potentially reverse off this level to drop lower. Sell entry is at 2.05730 which is a pullback resistance level. Stop loss is at 2.07500 which is a level that sits above the 38.2% Fibonacci retracement level. Take profit is at 2.02737 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. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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. 74% 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. FXCM Australia 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
EURGBP H4 | Potential bullish bounceEUR/GBP is falling towards an overlap support and could potentially bounce off this level to climb higher. Buy entry is at 0.86357 which is an overlap support that aligns with the 38.2% Fibonacci retracement level. Stop loss is at 0.86070 which is a level that lies under an overlap support that aligns with the 50.0% Fibonacci retracement level. Take profit is at 0.86744 which is a pullback resistance 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. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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. 74% 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. FXCM Australia 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.
Long
by FXCM
1
GBP/USD Faces Pressure Amid Israel-Hamas Conflict and Economic..GBP/USD Faces Pressure Amid Israel-Hamas Conflict and Economic Challenges The Pound Sterling (GBP) experienced a downturn, dropping below 1.22 against the US Dollar (USD) as geopolitical tensions escalated due to the Israel-Hamas conflict. This development has contributed to a risk-averse market sentiment, impacting the GBP's performance. Additionally, the UK faces economic challenges, particularly in its manufacturing and construction sectors, as higher mortgage rates create uncertainty. Geopolitical Tensions Weigh on GBP: The GBP/USD pair saw a significant decline on Monday as the Israel-Hamas conflict heightened the risk-aversion theme in the market. This geopolitical tension, which began over the weekend, added pressure to the Pound Sterling. Investors are closely monitoring the situation as it unfolds, as it has implications for market sentiment and risk appetite. UK Economic Challenges Persist: Apart from the geopolitical concerns, the UK is grappling with economic challenges. The manufacturing and construction sectors are currently vulnerable due to higher mortgage rates, which have impacted demand and borrowing costs. As a result, UK businesses are cautious about raising funds, leading to reduced labor demand and overall economic output. The situation is expected to persist, with the Bank of England (BoE) committed to maintaining restrictive interest rates until inflation reaches its target of 2%. US Jobs Data and Fed Expectations: In contrast to the UK, the United States is experiencing a more robust economic outlook. The latest US Nonfarm Payrolls (NFP) report, released on Friday, revealed the addition of 336,000 jobs in September, surpassing market estimates. This data reaffirms expectations for at least one more interest rate hike by the Federal Reserve (Fed) before the year-end. The prospect of higher interest rates has boosted US Treasury bond yields, providing support to the USD. However, it's worth noting that wage growth remained moderate during the same month, alleviating some concerns about inflationary pressures. This development may allow the Fed to adopt a less hawkish stance, depending on upcoming economic data and events. Looking Ahead: Investors are closely monitoring key events this week, including the release of the Federal Open Market Committee (FOMC) meeting minutes and US consumer inflation figures. These releases will provide insights into the Fed's future policy decisions and influence the USD's trajectory, subsequently impacting the GBP/USD pair. Furthermore, expectations that the Bank of England (BoE) will maintain its current interest rates in November are likely to limit significant upside potential for the British Pound (GBP). As geopolitical tensions persist and economic challenges persist in the UK, the GBP/USD pair remains under scrutiny by traders and investors. Our preference Short positions below 1.23075 with targets at 1.21100 & 1.2005 in extension.
Short
by FOREXN1
12
GBP/USD Consolidates Gains Ahead of Key US NFP ReportGBP/USD Consolidates Gains Ahead of Key US NFP Report The GBP/USD pair is currently treading water in the Asian session, consolidating its recent robust recovery from the 1.2035 area, which marked its lowest level since March 16 earlier this week. With traders on the sidelines, the focus is firmly on the impending release of the US Nonfarm Payrolls (NFP) report, a pivotal event that could significantly influence market sentiment and currency movements. NFP's Influence on Market Expectations The NFP report, widely watched by investors, carries significant weight in shaping expectations regarding the Federal Reserve's (Fed) future interest rate decisions. The outcome of this report is expected to impact the US Dollar (USD) and provide fresh direction to the GBP/USD pair. Forecasts suggest that the US economy likely added 170,000 jobs in September, a modest decline from the 187,000 reported in August. Simultaneously, the jobless rate is expected to dip from 3.8% to 3.7% for the reported month. A Stronger NFP Report's Implications A stronger NFP report, while indicating healthy job growth, may exert upward pressure on wages and inflation. This scenario could compel the Fed to maintain its hawkish stance and keep interest rates higher for an extended period. Such an outcome could provide renewed strength to the USD and potentially cap the GBP/USD pair's gains. Mixed Labor Market Data As traders brace for the NFP release, it has been a week marked by mixed labor market data. The monthly Job Openings and Labor Turnover Survey (JOLTS) report for August showed higher-than-expected job openings, while private payroll numbers from the Automatic Data Processing (ADP) report fell short of market expectations. Additionally, Thursday's data revealed a slight increase in Weekly Jobless Claims compared to the previous week, albeit slightly below expectations. Overall, these figures align with expectations of robust economic growth in the US for the third quarter. Furthermore, several Fed officials have voiced support for at least one more 25 basis points rate hike by year-end. Divergent Fed-BoE Policy Expectations The prospects of further policy tightening by the Fed have kept US Treasury bond yields elevated and supported the USD. This has contributed to halting the corrective pullback in the USD this week, despite its strong performance year-to-date. In contrast, market expectations are leaning towards the Bank of England (BoE) leaving interest rates unchanged at its upcoming November meeting. This divergence in central bank policies further acts as a restraint on the GBP/USD pair's upside potential. Waiting for Confirmation Given the prevailing market dynamics and uncertainties, traders are exercising caution and waiting for strong follow-through buying before confirming that GBP/USD has established a near-term bottom. Such confirmation would set the stage for a potential extension of the recent robust recovery that has spanned the last two trading days. Conclusion The GBP/USD pair is consolidating its recent gains as traders await the crucial US Nonfarm Payrolls report. This release carries substantial implications for both the USD and GBP, with the potential to influence market expectations regarding future monetary policy decisions. While the current market outlook is cautiously optimistic, the NFP's outcome will likely determine the short-term direction of the GBP/USD pair. Our preference Short positions below 1.23075 with targets at 1.2110 & 1.2005 in extension.
Short
by FOREXN1
21