Get started

Brexit

ridethepig | Fading The Highs In GBP!With Javid out Johnson had the perfect cherry pick with Rishi Sunak and now the fiscal taps can be turned on full. This medium-term swing is starting to look very interesting which is unlocking a leg towards 1.20xx and 1.15xx below: Rishi is a typical yes man, he will do whatever Johnson wants. Those behind the curtain know it was another flawless beheading from Cummings, meanwhile a ruthless Downing Street only waiting for Carney exit on 16th March to have full control with Bailey too. Eyes on NY selling the open, we could get a very fast swing down is USD catches a strong bid via coronavirus risk. US inflation overshooting will be enough to carry this lower. Thanks guys for keeping the likes and comments coming, jump into the discussion with your charts below!
Short
by ridethepig
13
GBPUSD Corrective Wave ContinueAfter the decline in wave ((a)) in red, the price has been unfolding in a corrective manner which is yet to be completed from Elliot Wave's perspective. Wave (a) in blue is sharp, while wave (b) unfolded as a double zigzag and formed a double bottom pattern. This scenario is best fit in for expanded flat 3-3-5 pattern, which according to the EW guideline, a sharp five-wave rally in wave (c) is needed to complete the whole corrective structure. Trading Opportunity: I will wait for the break of the blue line or daily bullish price action signal to take advantage of wave (c) of ((b)). What's your view on GU, bullish or bearish?
Long
by Veejahbee
3
Heads Up...Tax Cuts Coming In UK !!!Important updates on the UK side for those in UK related assets. A game changer cabinet reshuffle to put a 🍒 picked “Yes man” in the Treasury. Downing Street making renovations and now in full control of not only No.10 but also No.11 (and scarily soon to be the BOE next month). Sunak will turn the fiscal taps on full blast, the fuel behind fiscal stimulus will come from fresh tax cuts in the UK ...Clean and simple legs available in the 2s10s, as markets begin to expect a looser fiscal policy a test of the Nov highs are in play. We will need to update the GBP macro charts over the coming sessions once we have confirmation in the headlines. Remember inversions in the US 2s5s setting the stage for recession... We traded the inversion here live in the UK: In any case, plenty of opportunities to discuss and in single stocks too. Smelling a major hammer to the UK economy coming at the end of 2020. As usual thanks for keeping the support coming with likes, comment and etc!
TVC:GB10YLong
by ridethepig
Bulls Eager on GBPUSDWith the current uncertainties keeping GBP pairs consolidated, echoing across correlating Pairs to the Pound, new fundamentals seem like the master key in getting volatility back for FX Traders. Looking over the Pound, one cannot deny that Sterling is at its most cheapest level in years. Forget price and think of value - suggests traders at HuracanFX. Fundamentally : Its a developing high impact news nightmare keeping swing traders on their and somewhat pensive about the next move- and it is likely to develop into a large move at it. Technically : Main 1.30 psychological resistance has been a tough nut to break, as price had shown potential at the first touch but quickly retreating into bearish territory. Note the retest of 1.29 as this resistance can play a vital role of new support for the Pound. USD Weakness coming in to support this move up; however it seems that the pair is looking for more information or a decisive USD move to break from the consolidation pattern. If the main level of 1.30 is broken targets of 1.32 is first up, thus following price up slow and steadily ,creeping its way up to 1.42 with little to no price action in its way to 1.42 from 1.40. Again, looking over to the bigger picture here , the Pound is cheap, overall a bullish momentum as a strong institutional leg from 1.215 Zone. I.e - Why would you be bearish ?
Long
by HuracanFX
ridethepig | GBP Market Commentary 2020.02.11A timely update to the FX strategy for GBP with particular focus on Cable. On the UK side, we have loud messages from Europe around the difficulty for both sides to reach an agreement by year-end. Although typical in a game of high-stakes chess, this is a heavy weight on Sterling. On the US side, a solid round of data prints last week from wages to non-agricultural employment. The FED remains dovish and in cutting mode, in normal circumstances cuts would be difficult to justify but with Trump in full control market expectations do not favour USD walking forward. On the technicals the map is crystal clear until we enter into the Brexit impact leg: Strong Support 1.276x <=> Soft Support 1.290x <=> Mid Point 1.328x <=> Soft Resistance 1.38xx <=> Strong Resistance 1.43xx On the positioning side, Pound longs were mostly built by speculators in the back-end of 2019 and these began to unwind as we headed into the official finish line in Jan 2020. This is leaving the flows exposed to negative headlines although you can argue the case for further upside as long as strong economic prints continue. The Pound is relatively cheap in this environment, I suspect the main impact leg from Brexit will not kick-in till October 2020 so we have plenty of time to continue working both side in the next 6 months. Expecting a mild recovery to come in the months ahead which will aid in offshore ownership of UK assets, the desire is there to continue the recovery and as long as this remains the case the breakdown will be difficult. Look to add GBP exposure on dips while we are at the bottom of the short-term and medium term range. A breakdown will be a game changer and will imply BOE are moving in August. A round of G10 FX charts and strategy updates coming over the sessions today... Don't forget to keep the likes and comments rolling guys!
Long
by ridethepig
1
GBPUSD - 2020 - Trend ReversalAfter the October and December bullish impulses, GBP/USD is trading in a rectangle consolidation above the 100/200-day simple moving averages (SMAs). The NFP came in better than expected at 225K vs 160K forecast by analysts; giving an extra boost to USD. GBP/USD is under bearish pressure as the spot is trying to break the 1.2900 figure for a monthly close below. A break below the above-mentioned level can lead to further weakness towards the 1.2829 figure and the 1.2829 level. Resistances are seen near the 1.2938, 1.2972 level and 1.3000 figure, according to the Technical Confluences Indicator. Resistance: 1.2938, 1.2972, 1.3000 Support: 1.2900, 1.2829, 1.2750
Long
by UnknownUnicorn1321512
1
GBPUSD-Weekly Market Analysis-Feb20,Wk2An ABCD pattern setup as a countertrend trade within the buy zone on a sideway setup. Well, simply means, target extension is not highly recommended but if you like to do slight target extension on the second target, it is possible, you just have to watch closely on how it reacts on the original target. You can also simply look at my trade ideas on signature link(3). Don't miss the next setup like you did when I've shared last week setup, 210pips of total profits gain in a single trading ideas. Wooot
Long
by RaynLim
GBPAUD and the long HOME RUN!GBPAUD is in a really important moment, it's being acumulated but we need more acumulation before buy so we will wait a bit and we will also observe if the value can go a bit more down to get a better entry , there are a lot of confluences in our favour for example the the uptrend that needs a P3, fibonacci also could help us because if the value falls to 61% the entry will be excelent and one supply in 1.91100 that has been respected a lot of times. So we will wait a little before the entry and let's catch this pips!!!
Long
by BlazeGP