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Cable

GBP - FUNDAMENTAL DRIVERS1. Virus Situation Regarding the UK's coronavirus outlook, this remains encouraging with the UK's vaccine program having administered at least one dose to over half of the UK population. Given the current success of its vaccine program, the UK is now in the early stages of lifting lockdown restrictions. While the UK's coronavirus outlook is improving, we expect GBP to remain well supported. The biggest risk to this view is the current challenges regarding the AstraZeneca vaccine, which the UK is very reliant upon to reach their vaccination targets. 2. The Monetary Policy outlook for the BOE From the start of the year the BOE had a change of heart regarding negative interest rates when on the 12th of Jan Governor Bailey pushed back against negative rates, and that view was confirmed in the BOE’s meeting on the 4th of February where they firmly pushed back against negative rates. Even though the BOE is nowhere close to hawkish, their less dovish demeanour regarding the overall economic outlook (and unphased approach to rising yields) have seen markets shifting their monetary policy expectations from expecting the next move to be a 10 bsp cut to now expecting the next move to be a hike of 10 bsp. 3. The country’s economic developments Economic data has been better-than-expected despite renewed lockdown measures that was announced at the end of last year. The hopes of a possible faster economic reopening and subsequent recovery has seen both the BOE and IMF upgrade growth projections for the UK economy which has widened the growth differentials between other majors by quite a bit and is something that should continue to be a supportive factor for GBP.
by thunderpips
GBPUSD, Short, RR 1:5 available!Good morning ladies & gents, Cable is positioned to go short this morning in London. After breaking the market structure on the higher timeframes, I'm looking to take a pullback pending order @ the price indicated on the chart. I anticipate that price will clear these three objectives below; however, I'll be scaling out of my position as price reaches and fulfills each objective. Stop will be moved to breakeven after the first objective has been reached. Good luck!
Short
by Jiraiya_eth
GBP: Current Sentiment DriversLatest Developments: April 7 – The UK’s coronavirus count increased to 4,367,291 cases (+2,763). March 31 – GDP for Q4 printed at 1.3% Q/Q and -7.3% Y/Y, revised from 1.0% and -7.8%, respectively. The report published by the ONS also noted that household savings for the quarter grew to their biggest ever level. This is supportive of recent comments from the BoE, who expect a significant increase in consumer activity once lockdowns are lifted. March 24 – CPI for February slowed to 0.4% Y/Y (prior 0.7%) and printed at 0.1% M/M (prior -0.2%). Core CPI slowed to 0.9% Y/Y (prior 1.4%) and printed at 0.0% M/M (prior -0.5%). March 18 – At their March meeting, the BoE kept its official Bank Rate unchanged at 0.10% and its QE programme at £895 billion. The BoE added that they do not intend to tighten policy until there is clear evidence that there is significant progress towards eliminating spare capacity and achieving its 2% inflation goal. February 23 – The Unemployment Rate for December increased to 5.1% from a prior of 5.0%. Employment Change printed at -114K while Average Earnings printed at 4.7% 3M Y/Y. For January, Claimant Count Change printed at -20.0K. Future Sentiment Shifts: There are several risks to GBP’s outlook, particularly with respect to the UK’s coronavirus/lockdown outlook and interest rate expectations. Of these two, expect the UK’s coronavirus outlook to play the more influential role in the short term as the UK’s coronavirus vaccine rollout continues to show signs of stabilizing its breakout, which in turn, should allow the UK to ease lockdown restrictions in the months ahead. However, in the medium term, as the market’s focus shifts, monetary policy should dominate. Regarding monetary policy, risks still remain; although, further easing appears unlikely at this point and markets looking for a hike in 2022. Primary Drivers: Bank of England – Monetary Policy in the UK remains highly influential to GBP’s fundamental outlook. Expectations for policy tightening should prove GBP positive, while expectations for policy easing should prove GBP negative. Brexit – The outlook for the UK’s exit from the EU in December remains a key influence for GBP as it poses significant risks to the UK’s economic outlook. With the UK set to leave at the end of the year and progress in negotiations between the UK and the EUR significantly hampered by the coronavirus outbreak, risks remain firmly tilted to the downside with a hard Brexit or even no deal Brexit remaining distinct possibilities.
by thunderpips
GBP - CENTRAL BANK ANALYSISObjective: Through the Bank of England Act 1998, the responsibility for formulating monetary policy, including the objective of stable prices defined by the government's inflation target of 2.0%, was delegated to the BoE's Monetary Policy Committee (MPC). As of February's report, inflation in the UK stands at 0.4% Y/Y, compared to January's 0.7% Y/Y. Core CPI for the month stands at 0.9%, compared to a prior of 1.4%. Situation: The BoE kept its Official Bank Rate unchanged at their March meeting at 0.10% with a vote split of 0-0-9. The MPC also voted unanimously to keep its Asset Purchase Facility unchanged for a total of £895 billion. At the meeting, the BoE stated that it does not intend to tighten policy until there is clear evidence that significant progress is being made in eliminating spare capacity and achieving its 2% inflation target sustainably. The BoE concluded that its current stance remains appropriate and news of recent plans for lifting restrictions may be consistent with a slightly stronger outlook for consumption growth.
by thunderpips
GBPUSD The Cable here on the cable we have a bearish Gartley Pattern. We currently have price kissing the 786 at the moment. what were looking for si some consolidation some confirmation on the oscillators and another good move down. This will be my second entry on the cable as i am currently short off a daily pattern. for the past two weeks we have seen the cable retrace up after the strong move down. I will be looking for an entry on the 1h. Sorry for not going into it any deeper i am behind on some school work and I am also getting back into the 4H time frame trading gonna slowly get down to the 1H again. I am also in the process in making a few courses as well that covers harmonic trading along with a myriad of other topics. When the courses go live i will upgrade my TradingView package to Premium and advertise them on my TradingView.
Short
by ARegularGuy
6
GBP - BULLISHThe focus for GBP is likely to be firmly fixed on the coronavirus outbreak now that the UK and EU have reached a Brexit agreement. Of course, although the market's focus on Brexit is now likely to markedly fade, the UK and EU's relationship will still remain of importance for GBP. This has been highlighted in recent sessions by the rise in UK/EU tensions over coronavirus vaccine supplies and distribution. Regarding the UK's coronavirus outlook, this remains encouraging with the UK's vaccine program having administered at least one dose to over half of the UK population. Given the current success of its vaccine program, the UK is now in the early stages of lifting lockdown restrictions. While the UK's coronavirus outlook is improving, we expect GBP to remain well supported, resulting in a bullish fundamental outlook.
by thunderpips
GBP/USD – Week 14 – In the middle of the correction.Last week, GBPUSD continued its corrective move towards the liquidity pool area without any major swings. For this week, we expect the correction to continue until it will reach the liquidity pool area highlighted on our chart. From that point we will study the price action as we will start and look for sell setups that could push the price towards the 1.35 support area. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Short
by financialflagship
13
GBP: Current Sentiment DriversLatest Developments: March 31 – GDP for Q4 printed at 1.3% Q/Q and -7.3% Y/Y, revised from 1.0% and -7.8%, respectively. The report published by the ONS also noted that household savings for the quarter grew to their biggest ever level. This is supportive of recent comments from the BoE, who expect a significant increase in consumer activity once lockdowns are lifted. March 30 – The UK’s coronavirus count increased to 4,341,736 cases (+4,040). March 24 – CPI for February slowed to 0.4% Y/Y (prior 0.7%) and printed at 0.1% M/M (prior -0.2%). Core CPI slowed to 0.9% Y/Y (prior 1.4%) and printed at 0.0% M/M (prior -0.5%). March 18 – At their March meeting, the BoE kept its official Bank Rate unchanged at 0.10% and its QE programme at £895 billion. The BoE added that they do not intend to tighten policy until there is clear evidence that there is significant progress towards eliminating spare capacity and achieving its 2% inflation goal. February 23 – The Unemployment Rate for December increased to 5.1% from a prior of 5.0%. Employment Change printed at -114K while Average Earnings printed at 4.7% 3M Y/Y. For January, Claimant Count Change printed at -20.0K. Future Sentiment Shifts: There are several risks to GBP’s outlook, particularly with respect to the UK’s coronavirus/lockdown outlook and interest rate expectations. Of these two, expect the UK’s coronavirus outlook to play the more influential role in the short term as the UK’s coronavirus vaccine rollout continues to show signs of stabilizing its breakout, which in turn, should allow the UK to ease lockdown restrictions in the months ahead. However, in the medium term, as the market’s focus shifts, monetary policy should dominate. Regarding monetary policy, risks still remain; although, further easing appears unlikely at this point and markets looking for a hike in 2022. Primary Drivers: Bank of England – Monetary Policy in the UK remains highly influential to GBP’s fundamental outlook. Expectations for policy tightening should prove GBP positive, while expectations for policy easing should prove GBP negative. Brexit – The outlook for the UK’s exit from the EU in December remains a key influence for GBP as it poses significant risks to the UK’s economic outlook. With the UK set to leave at the end of the year and progress in negotiations between the UK and the EUR significantly hampered by the coronavirus outbreak, risks remain firmly tilted to the downside with a hard Brexit or even no deal Brexit remaining distinct possibilities.
by thunderpips
8
Anyone selling GBPUSD? 🙋🏼‍♂️The buy reversed, we got a reverse signal as you can see. Entry details are shown on the chart. We're only looking for TP3. Trade history can be seen below this trade idea too for full transparency. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. Interested in access to my strategy so you can be in these trades the moment they're valid? Drop me a DM . The stats for this pair are shown below too. Thank you. Darren
Short
by pow_removetheguesswork
1
GBP: Current Sentiment DriversLatest Developments: March 28 – The UK’s coronavirus count increased to 4,333,042 cases (+3,862). March 24 – CPI for February slowed to 0.4% Y/Y (prior 0.7%) and printed at 0.1% M/M (prior -0.2%). Core CPI slowed to 0.9% Y/Y (prior 1.4%) and printed at 0.0% M/M (prior -0.5%). March 18 – At their March meeting, the BoE kept its official Bank Rate unchanged at 0.10% and its QE programme at £895 billion. The BoE added that they do not intend to tighten policy until there is clear evidence that there is significant progress towards eliminating spare capacity and achieving its 2% inflation goal. February 23 – The Unemployment Rate for December increased to 5.1% from a prior of 5.0%. Employment Change printed at -114K while Average Earnings printed at 4.7% 3M Y/Y. For January, Claimant Count Change printed at -20.0K. November 12 – Preliminary Q3 GDP printed at 15.5% Q/Q and -9.6% Y/Y versus expectations for 15.8% and -9.4% respectively. Future Sentiment Shifts: There are several risks to GBP’s outlook, particularly with respect to the UK’s coronavirus/lockdown outlook and interest rate expectations. Of these two, expect the UK’s coronavirus outlook to play the more influential role in the short term as the UK’s coronavirus vaccine rollout continues to show signs of stabilizing its breakout, which in turn, should allow the UK to ease lockdown restrictions in the months ahead. However, in the medium term, as the market’s focus shifts, monetary policy should dominate. Regarding monetary policy, risks still remain; although, further easing appears unlikely at this point and markets looking for a hike in 2022. Primary Drivers: Bank of England – Monetary Policy in the UK remains highly influential to GBP’s fundamental outlook. Expectations for policy tightening should prove GBP positive, while expectations for policy easing should prove GBP negative. Brexit – The outlook for the UK’s exit from the EU in December remains a key influence for GBP as it poses significant risks to the UK’s economic outlook. With the UK set to leave at the end of the year and progress in negotiations between the UK and the EUR significantly hampered by the coronavirus outbreak, risks remain firmly tilted to the downside with a hard Brexit or even no deal Brexit remaining distinct possibilities.
by thunderpips
GBP USD SHORTPrice has came to retest a previous level of resistance in the market. Its appears we have had a fake out above this resistance level before seeing a bearish engulfing candle close back below this level. This also lined up with rejections at a key fib level. On lower time frames we will be looking for a break of the next level of resistance before considering shorts. If things develop how we planned and we take a set up, we will be targeting around the 1.368 level. Let me know what you guys think!
Short
by Geordiefx
2
GBPUSD - More downside to go?!GBPUSD - Technical view: More downside to go?! Technical View: Support: 1.36830, 1.36050, 1.35310, 1.35000 Resistance:1.37930, 1.39515, 1.40455, 1.41570 Pattern: Wedge/Pennant - Broken to downside, Blue line measuring length. Bears are in control if we get a break below support area of: 1.36570 Bulls are in control if we get a break above resistance area of: 1.38670 (200EMA Above) Overall, we are currently in between ranges of: 1.36570 (S) - 1.37930 (R) break to either direction for further clarification perhaps a trade for next week to consider. Keep in mind End of months flows & Keep an eye on Monthly closes. Fundamental: Overall, not much impact regarding calendar front apart from NFP on Friday next week. This week we had DXY rising and as majors decline! Finally broke out of the ranges we were in. We aren't seeing reflation trade this week. Market seeking a safe haven aspects. - 3rd Wave in EU & USA - Rising calls for concerns - Politics in US - Infrastructure spending 3trillions with be a high cost on cooperate tax rate heading higher - April equities, usually best month of of the yr. (Seasonality) - Commodity FX pairs - Weakening may continue as dollar strengthens - UK Vaccination is going well. However Astra vaccine has been told to provide Europe further with the vaccinations - First stages of the unlocking eases on Monday in UK - We've even got great weather for the week as well! 🌞 - NFP Next week - Great for scalp. UK Reminder: Clocks go forward Key tips: Don't try make your P&L on Friday - Trade what you see, not what you think! Have a great weekend. Trade Journal (Just a trade idea, not a recommendation)
by Trade_Journal
GBP - BULLISHThe focus for GBP is likely to be firmly fixed on the coronavirus outbreak now that the UK and EU have reached a Brexit agreement. Of course, although the market's focus on Brexit is now likely to markedly fade, the UK and EU's relationship will still remain of importance for GBP. This has been highlighted in recent sessions by the rise in UK/EU tensions over coronavirus vaccine supplies and distribution. Regarding the UK's coronavirus outlook, this remains encouraging with the UK's vaccine program having administered at least one dose to almost half of the UK population. Given the current success of its vaccine program, the UK is now in the early stages of lifting lockdown restrictions. While the UK's coronavirus outlook is improving, we expect GBP to remain well supported, resulting in a bullish fundamental outlook.
by thunderpips
10