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GBPUSD - OFFICIAL BANK RATE RELEASE 20 JUNEI would expect a temporary bullish after the news from BOE interest rate. Based on my sole opinions, there might be no changes from the forecast of 5.25% due to UK inflation rate is under control. Based on price action, I have created a new dealing range from Tuesday 18 June - Low to yesterday High. For the Pound to be bullish , I want to see that price draw liquidity below the 0.5 range. At the extreme, price may reach around 0.25 range. Price expected to rise gradually to draw liquidity on yesterday highs and into H4 FVG. If this is played out, I would expect a bearish outcome. Turtle soup strategy.
Long
by ShahZak
GBPJPY Technical Analysis 11.05.2023 1h chart– Previous Daily candle closed Bearish at 169.490 forming new Daily Resistance at 170.600. – Buys on close above 169.830 targeting 4h previous Support formed at 170.150, Leaving Runners to the recent Daily Resistance formed on Wednesday 10th May 2023 at 170.600. – Sells on close below 169.110 targeting Daily Support at 168.740, Leaving Runners to the 1h Support formed at 168.230. – High Impact News ahead for the Pound Sterling as Bank Of England decide on the new Bank Rate set by the MPC, News to expect as follow : BOE Monetary Policy Report, MPC Official Bank Rate Votes, Monetary Policy Summary, Official Bank Rate followed by Bank Of England Governor Andrew Bailey speech shortly after the release.
by SalimFX20
GBPJPY Technical Analysis 23.03.2023 1h chart– Previous Daily candle close Bearish at 161.100 back in the range forming new Daily Resistance at 161.800. – Buys on close above 161.360 targeting Daily Resistance at 161.810, Leaving Runners to the 1h Resistance at 162.310. – Sells on close below 160.800 targeting 1h Support at 160.290, Leaving Runners to the 4h Support at 159.850. – High Impact News ahead for the Pound Sterling 1h before New York session opens as follow : MPC Official Bank Rate Votes, Monetary Policy Summary and the Official Bank Rate – What is Bank Rate : – The Bank Rate for the Bank of England, also known as the base rate or interest rate, is the rate at which the Bank of England lends money to commercial banks. When the Bank Rate is high, it becomes more expensive for commercial banks to borrow money from the Bank of England. This, in turn, can cause commercial banks to increase the interest rates they charge their customers for loans and mortgages. On the other hand, when the Bank Rate is low, it becomes cheaper for commercial banks to borrow money from the Bank of England, which can lead to lower interest rates for loans and mortgages. – The Bank of England’s Monetary Policy Committee (MPC) sets the Bank Rate based on their assessment of economic conditions and their mandate to achieve the government’s inflation target. By adjusting the Bank Rate, the MPC can influence the level of economic activity, inflation, and employment in the UK economy. A lower Bank Rate can encourage borrowing and spending, which can boost economic activity and employment, but may also lead to higher inflation. Conversely, a higher Bank Rate can help to curb inflation, but may also dampen economic activity and employment.
by SalimFX20
GBPNZD after the factI was hesitant to post this trade setup and idea earlier in the week, however with the proper fundamental analysis as well as technicals there were clear indicators that GBPNZD was going to have a large selloff until it retested the trendline set in the 4h chart as well as the daily trend, if it breaks the "heartline" we will seek a reentry for a bearish movement. It is important to note the sudden drop to the take profit was due to the NZD central bank holding rates constant this time around where in terms means that the NZD appreciates in value. Furthermore, these types of scenarios tend to follow the given trend that is being formed, in this case a bearish movement was beginning hence the sell off as well. Hopefully this was insightful and next time I'll post my trade setup before it occurs. Please ignore the stop loss as it was a tentative one and I had a slightly higher one as well as an entry at a slightly later time slot yet at the same indicated prices
Short
by Canadianknowstheway