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British Pound/Turkish Lira

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GBPTRY trade ideas

GBP/TRY Trading Signal AlertWe have identified a promising trading opportunity for the GBP/TRY currency pair using our advanced EASY Quantum AI strategy. Below are the specifics for the trade setup: Direction: Buy Enter Price: 44.63123 Take Profit: 45.15472 Stop Loss: 43.67305 Rationale: 1. Trend Analysis: Recent price action indicates a consistent upward trend in the GBP/TRY pair, supported by higher highs and higher lows. This trend is anticipated to continue based on the positive momentum observed in the market. 2. Fundamental Factors: The British pound has been showing strength against the Turkish lira due to strong economic indicators from the UK, including better-than-expected GDP growth figures and improving employment data. Conversely, the Turkish lira has been under pressure due to ongoing economic and political uncertainties in Turkey. 3. Technical Indicators: Our EASY Quantum AI strategy has identified bullish signals on multiple technical indicators: - Moving Averages: The short-term moving average crossed above the long-term moving average, indicating a bullish crossover. - RSI (Relative Strength Index): The RSI is currently above 50 and rising, suggesting increasing buying pressure. - MACD (Moving Average Convergence Divergence): The MACD line is above the signal line, further confirming bullish momentum. 4. Risk Management: A Stop Loss at 43.67305 ensures adequate risk management, while the Take Profit level at 45.15472 provides a favorable risk-reward ratio. Stay vigilant and adhere to the given entry and exit points to maximize profits while minimizing potential losses. Happy Trading!
Long
by ForexRobotEasy
GBPTRY - Great Holiday Time :)Starting September 2nd I'll be on holiday in Turkey for 2 weeks. I've managed to time this holiday pretty perfect, looking at the charts we can see it's been in a steep UP TREND since 2nd of July, although it could be argued it happened after the RANGE BREAKOUT in May. GBP is now extremely strong to TRY, meaning we get more TURKISH LIRA for our GREAT BRITISH POUND. If your planning a holiday any time soon, this is the time to exchange your currency. I will be watching in the coming weeks to see what happens, hopefully we can keep this steep uptrend for several weeks, either way i'm happy to be exchanging my GBP to TRY within 2 weeks. It's highly probable this up trend will not last, so make the most of it while you can, i'm confident that by the time i'm home the situation will have changed. To me, it looks like we may be about to enter into a range in the coming days. I'm watching and waiting for either a pullback or a range breakout for entry/exchange, it's NOT a good idea to enter near the top. Either way, from a travel view point rather than a trader, it's a great time to holiday to TURKEY!
by I3ig_Trades
1
GBPTRY LongTechnical Analysis Trend Bullish Weekly Long Daily Long 10H Long 4H Long 2 H Long 30min. LONG Gold Bullish Strategy Bullish My Trading Conditions and my Rules(This are the Rules I follow,and they are no financial adivice for others) Trade Consditions Higher Highs Higher Lows Trade Rules: Taking only Buy Signals Trade Rule 2: Only Buy Signals Trade Rule 3: Exit only, if a Pullback my Stops hit. Japanese Shares Rise as US Inflation Eases The Nikkei 225 Index jumped 0.8% to above 32,200 while the broader Topix Index gained 0.3% to 2,228 on Thursday, rising from one-month lows and tracking a rally on Wall Street overnight as cooler-than-expected US inflation data raised hopes that the Federal Reserve is closer to the end of its tightening cycle. Investors also bought back technology stocks following days of consolidation, with notable gains from SoftBank Group (1.9%), Advantest (1.4%), Socionext (2.8%), Tokyo Electron (0.6%), Z Holdings (2.8%) and Renesas Electronics (2.5%). Other index heavyweights also advanced, including Sony Group (4.5%), Fast Retailing (1%), Daiichi Sankyo (4.5%), Mitsui & Co (1%) and Eisai Co (1.6%). Australia Inflation Expectations Stable inJuly NZX Trades Slightly Higher New Zealand Factory Activity Shrinks to 7-Month Low Argentina Indicators Industrial Production 1.1 1.8 percent May/23 Industrial Production Mom 1.2 3.2 percent Apr/23 Capacity Utilization 68.9 67.3 percent Apr/23 Changes in Inventories -20633 20148 ARS Million Mar/23 Car Production 53282 54399 Units May/23 Car Registrations 38.6 33.8 Thousand May/23 Leading Economic Index -0.48 -0.28 percent May/23 Corruption Index 38 38 Points Dec/22 Corruption Rank 94 96 Dec/22 The Turkish lira extended losses to new all-time lows of 26.2 per USD, amid increasing signs of a shift to a more orthodox approach and as the central bank reportedly stopped using its reserves to support the currency. On June 22nd, the central bank of Turkey raised interest rates by 650 bps to 15%, marking a reversal from its previous ultra-loose and unorthodox monetary policy although the move fell short of meeting market expectations for a higher rate of 21%. Few days later, policymakers loosened measures designed to boost the lira, including lowering the securities maintenance ratio to 5% from 10% and the threshold for the share of lira deposits to 57% from 60%.
Long
by DaveBrascoFX
1
GBPTRY LongTechnical Analysis Trend Bullish Weekly Long Daily Long 10H Long 4H Long 2 H Long 30min. LONG Gold Bullish Strategy Bullish My Trading Conditions and my Rules(This are the Rules I follow,and they are no financial adivice for others) Trade Consditions Higher Highs Higher Lows Trade Rules: Taking only Buy Signals Trade Rule 2: Only Buy Signals Trade Rule 3: Exit only, if a Pullback my Stops hit. Japanese Shares Rise as US Inflation Eases The Nikkei 225 Index jumped 0.8% to above 32,200 while the broader Topix Index gained 0.3% to 2,228 on Thursday, rising from one-month lows and tracking a rally on Wall Street overnight as cooler-than-expected US inflation data raised hopes that the Federal Reserve is closer to the end of its tightening cycle. Investors also bought back technology stocks following days of consolidation, with notable gains from SoftBank Group (1.9%), Advantest (1.4%), Socionext (2.8%), Tokyo Electron (0.6%), Z Holdings (2.8%) and Renesas Electronics (2.5%). Other index heavyweights also advanced, including Sony Group (4.5%), Fast Retailing (1%), Daiichi Sankyo (4.5%), Mitsui & Co (1%) and Eisai Co (1.6%). Australia Inflation Expectations Stable inJuly NZX Trades Slightly Higher New Zealand Factory Activity Shrinks to 7-Month Low Argentina Indicators Industrial Production 1.1 1.8 percent May/23 Industrial Production Mom 1.2 3.2 percent Apr/23 Capacity Utilization 68.9 67.3 percent Apr/23 Changes in Inventories -20633 20148 ARS Million Mar/23 Car Production 53282 54399 Units May/23 Car Registrations 38.6 33.8 Thousand May/23 Leading Economic Index -0.48 -0.28 percent May/23 Corruption Index 38 38 Points Dec/22 Corruption Rank 94 96 Dec/22 The Turkish lira extended losses to new all-time lows of 26.2 per USD, amid increasing signs of a shift to a more orthodox approach and as the central bank reportedly stopped using its reserves to support the currency. On June 22nd, the central bank of Turkey raised interest rates by 650 bps to 15%, marking a reversal from its previous ultra-loose and unorthodox monetary policy although the move fell short of meeting market expectations for a higher rate of 21%. Few days later, policymakers loosened measures designed to boost the lira, including lowering the securities maintenance ratio to 5% from 10% and the threshold for the share of lira deposits to 57% from 60%.
Long
by DaveBrascoFX
GBPTRY BULLISH Rises further after Turkish inflation dataTurkish lira fell to new marginally lower record low in early Wednesday, as Turkish June inflation data sparked fresh weakness of the currency. Monthly inflation rose by 3.9% in June, below 4.8% consensus and annualized figure was also below expectations (38.2% in June vs 39.4% f/c), while consumer prices were slightly below previous month’s figure (June PPI 40.4% vs May 40.7%). Inflation remains elevated, though significantly below last October’s 85.5%, the highest in over two decades. Turkish lira fell sharply in June (down over 20% vs US dollar, the biggest monthly fall on a record), following re-election of President Erdogan and despite CBRT’s new leadership and turn towards more orthodox approach to monetary policy, as the central bank already raised interest rates after a cycle of cutting rates last year. Trend Bullish Pound to Lira forecast by day. Date Weekday Min Max Rate 10/07 Monday 33.19 34.21 33.70 11/07 Tuesday 33.31 34.33 33.82 12/07 Wednesday 33.38 34.40 33.89 13/07 Thursday 33.51 34.53 34.02 14/07 Friday 33.29 34.31 33.80 17/07 Monday 33.55 34.57 34.06 18/07 Tuesday 33.51 34.53 34.02 19/07 Wednesday 33.22 34.24 33.73 20/07 Thursday 33.30 34.32 33.81 21/07 Friday 34.30 35.34 34.82 24/07 Monday 34.72 35.78 35.25 25/07 Tuesday 35.77 36.85 36.31 26/07 Wednesday 35.74 36.82 36.28 27/07 Thursday 35.59 36.67 36.13 28/07 Friday 35.50 36.58 36.04 31/07 Monday 35.54 36.62 36.08 01/08 Tuesday 35.98 37.08 36.53 02/08 Wednesday 36.08 37.18 36.63 03/08 Thursday 36.32 37.42 36.87 04/08 Friday 36.57 37.69 37.13 07/08 Monday 36.44 37.54 36.99 08/08 Tuesday 37.10 38.24 37.67 09/08 Wednesday 38.22 39.38 38.80 10/08 Thursday 39.09 40.29 39.69
Long
by DaveBrascoFX
2
GBPTRY LongStrategy Bullish Higher Highs Higher Lows Retracement (13%) Price above Quartely VWAP Price above Decade VWAP Volatility Bullish Maket Sentiment 92% Bullish Yearly Trend Bullish Quartely Trend Bullish Monthly Bullish Daily Bullish 4H Bullish 2H Bullish 1H Bullish 30 min. Bullish Portfolio Strategy: Volatility/Risk(Per Trade) Position Sizing Risk Management 2: Trailing Stop (Donchian/Turtle Trader)/N(Volatility(Per Day) or (Quarter)*(risk per Trade) William Jackson, chief emerging markets economist at Capital Economics, also noted that shocks from the El Nino weather pattern could prompt inflation in central and south American regions to cool more slowly than previously expected. "Latin American central banks are unlikely to look through food price shocks given how strong headline inflation and wage growth in the region still are. So, upside inflation surprises could postpone the upcoming monetary easing cycles, or make them more gradual." The Mexican peso slipped 0.4% and was set to snap a four-day winning streak, after touching its highest level since early December 2015 on Wednesday. The MSCI gauge for Latam stocks (.MILA00000PUS) gained 1.3%, led by a 1.4% advance in Brazil's Bovespa IBOV . Foreigners funneled over $22 billion net into emerging market portfolios in June, the largest amount since January, according to data from the Institute of International Finance. A Guatemalan court ordered the suspension of anti-graft presidential candidate Bernardo Arevalo's political party, threatening his place in a run-off vote and prompting U.S. warnings of a challenge to democracy. Elsewhere, the International Monetary Fund's executive board has approved an immediate $189 million disbursement to Zambia following its first review of a $1.3 billion loan programme. Latam FX hits 10-year high on weak dollar as US inflation slows The index for Latin American currencies touched a 10-year high on Wednesday, led by Brazil's real, as the dollar dwindled after a U.S. inflation reading indicated just one more interest rate hike by the Federal Reserve this year. The MSCI index for Latam currencies (.MILA00000CUS) jumped 1.6%, hitting its highest level since April 2013. Most currencies hit multi-year highs against a weakening dollar after June U.S. consumer prices rose at their smallest annual pace in over two years. Although talks of rate cuts have intensified in Latam of late, bets on the U.S. rate-hiking cycle coming to an end will likely lead to a favorable interest rates differential. The Mexican peso USDMXN jumped 1%, breaking below the psychological barrier of 17 pesos per dollar, touching an eight year high. Higher crude oil prices also boosted the Mexican peso and top exporter Colombia's peso USDCOP by 0.8%. Copper prices hit 2-1/2-week highs, boosting currencies of main exporters. Chile's peso USDCLP added 0.7% and Peru's sol USDPEN rose 1.3%, to its highest level since November 2020. Peru's central bank is set to decide on policy rates on Thursday. Chile's Finance Minister Mario Marcel said the government now expects gross domestic product (GDP) to grow 0.2% in 2023, revising its forecast down from a previous estimate of 0.3%. The Brazilian real (BRBY) USDBRL gained 0.8%, touching a one-week high. The rapporteur for Brazil's tax reform bill in the Senate, Eduardo Braga, on Tuesday said that he expects the proposal to be voted on in October in the House. Data showed Brazil's services activity grew by much more than expected in May, paring some losses seen in April despite high interest rates. "Progress on the structural reform agenda and the (Brazil) government decision to maintain the CPI target at 3% have cleared the way for rate cuts; we expect a 50bps cut on August 2," said Lawrence Brainard, chief EM economist at TS Lombard. Meanwhile, Argentine polling firms warned of difficulties accurately predicting the upcoming presidential primaries' results due to low turnout and the emergence of surprise candidates, leaving the October election also uncertain. The MSCI index for Latam stocks (.MILA00000PUS) jumped 2.5%, touching a one-week high, led by a 1.4% advance Brazil's Bovespa IBOV . World's largest meat packer JBS SA JBSS3 jumped 9% after proposing a New York listing. Separately, the International Monetary Fund (IMF) approved a $3 billion, nine-month bailout programme for Pakistan. YEN Oil AUD NZD Asian stocks fall on bad chinese data China Industrial Output Growth Beats Estimates The Chinese economy advanced 6.3% yoy in Q2 of 2023, faster than a 4.5% growth in Q1 but missing market estimates of 7.3%. The latest figures were distorted by a low base of comparison last year when Shanghai and other big cities were in strict lockdown. During H1, the economy grew by 5.5%. China has set a GDP growth target of around 5% for this year after the economy expanded by 3% in 2022 and missed the government's target of about 5.5%. Beijing has shown reluctance to launch greater stimulus, especially as local government debt has soared. In June alone, indicators showed a mixed picture: retail sales rose the least in 5 months, industrial output growth grew for the 14th month, and the urban jobless rate was unchanged at 5.2% but youth unemployment hit a new high of 21.3%. Data released earlier showed shipments from China fell the most in three years, as high inflation in key markets and geopolitics hit foreign demand. A Politburo meeting is expected later this month. Asian Stocks Fall on Weak Chinese Data Asian equity markets fell on Monday as investors reacted to key data showing China’s economy grew 6.3% in the second quarter, lower than the 7.3% expansion expected by analysts. The Shanghai Composite led the decline, losing more than 1%. The Shenzhen Component, S&P/ASX 200 and Kospi indexes also tumbled. Meanwhile, Japanese markets are closed for a holiday, while Hong Kong markets will likely be closed for the day due to a typhoon. China Stocks Drop on Weak GDP Data The Shanghai Composite dropped 1.1% to around 3,200 while the Shenzhen Component lost 0.8% to 10,990 on Monday, giving back gains from last week as investors reacted to key data showing China’s economy grew 6.3% in the second quarter, lower than the 7.3% expansion expected by analysts. Meanwhile, China’s industrial production and fixed asset investments increased more than anticipated, while retail sales missed forecasts. Mainland stocks gained last week amid hopes that a faltering post-pandemic recovery would prompt Beijing to offer more pro-growth policy measures. Commodity-linked and financial stocks led the decline, with notable losses from Yunnan Lincang (-3.5%), Zijin Mining (-1.5%), China Shenhua Energy (-4.5%), ICBC (-6%), Ping An Insurance (-1%) and China Merchants Bank (-1.1%).
Long
by DaveBrascoFX
GBPTRY breakout - the patternGBPTRY is a great trade as always, even better when traded with 0.0 pips spread and NO swap fees. On topic - looks like an inverted head and shoulders pattern on this time frame and may rise up quite nicely today, tomorrow, toy Yoda. Or it would fall under the descending triangle pattern and slide back to where it came from. Let's have a look-see. This is just a pattern analysis and not financial advice. When we give advice we usually sign a contract to protect your capital.
GLong
by Visit-wwwTRESORFXcom
GBPTRY long I think at some point in the future the Lira may set up the Mother of all carry trades (Positive swap + correct direction) - but we're down so super hard in the XTRY pairs I think this is a great buying spot. For at the very least a mean reversion move. If we can break over the 76 retracement we might see an epic blitz up move in the XTRY pairs - before, finally, seeing the end of the Lira crash and a great contrarian trade. A Lira bull will surely come at some point (That's surely my opinion, not a certainty). But it might want to slice and dice the market a bit more before it does. The trade I am positioning for here is best likened to the move out of the March 2020 low in the SPX. Where the profit lock in level is would be where a bull trap would usually form and reverse. See linked MRNA analysis for an example of me forecasting this type of blow off move but it failing to fully mature.
Long
by holeyprofit
1