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D-GBP

GBP, EUR - Overall a stellar session for the Sterling in the...GBP, EUR - Overall a stellar session for the Sterling in the run up to the crucial meeting between UK PM Johnson and European Commission President VdL slated for 19:00GMT/14:00EST in a bid to overcome some hurdles within the three sticking points to pave the way for constructive negotiations. Sterling was lifted through 1.3400 (vs. low 1.3350) on the back of Cabinet Minister Gove intimating scope for a compromise on fisheries, whilst further optimism from the Irish PM only added to the tailwinds. That said, LPF is touted to be the most contentious issue, with some journalists also questioning the timeframe available to strike and ratify a deal. Nonetheless, Cable surpassed 1.3450 throughout the European morning to notch a session peak at 1.3478 at the time of writing with the 1.3500 level to the upside the next point of resistance, matching the Dec 3rd high. The firmer Sterling has also hampered gains in the Single Currency through the EUR/GBP medium, with the cross tumbling from its 0.9080 high to a base at 0.8983 and looking to end the European day around the 0.9000 mark. As Such, EUR/USD sees itself with slight losses heading into the close and off its ~1.2150 high and with an intraday base at 1.2100. Looking ahead, tomorrow’s docket from a European perspective is packed with risk events including UK GDP, Brexit follow-through, the EUCO summit and the ECB’s policy announcement. DXY - The broad Dollar and Index look set for a flat close to the European session, but with the latter still contained to the 90.688-934 range seen throughout the morning. Sights for the Buck remain on developments stateside as the House is expected to vote on a short-term spending bill today to avoid a government shutdown and the Senate could take up stopgap funding bill today, whilst Treasury Secretary Mnuchin also suggested 90% of the stimulus package will be completed today. Looking forward to tomorrow, US sees the release of its November CPI figures, but the ECB will likely dictate.
by FTUKcom
1
GBPAUDGBPAUD trade forecast video. I am all about quality over quantity. Because of this, I spend a lot of time waiting for a trade that will never come or watching an opportunity pass me by. It is a common misconception within the forex industry that a trade should be executed every time you are on the chart, this is not true. Time should be spent breaking down a pair, looking for direction bias, key levels and market structure, alongside other technical and fundamental analysis. Once this has been done, there is then the task of identifying the optimal location to enter the market to minimise risk and increase the probability of success. As well as trying to be as profitable as possible as that is the goal after all. I find a trading plan with set rules for an entry is the best way to ensure discipline when trading. This is certainly the key to my success!
by AidanFucile
1
GBPUSD likely continuing to move up in the mid-termFollowing the high timeframe analysis on GBPUSD in the last video, this time we looked at the mid-timeframe to see what would likely happen in the short to mid-term. I personally believe the price will eventually break through the range of resistance at around 1.3500 that has confined the price for the last 24 months. Indicator showing us formations consistent with those usually observed in an area where continuous growth in value is likely. Walkthrough of the details laid out in the video. I am marking this analysis as a "long" in view of the likelihood of GBPUSD going up above 1.35 in the coming weeks, some possibilities for short term corrections notwithstanding.
Long
by Popovich
A choppy day for the Buck with the earlier Sterling...A choppy day for the Buck with the earlier Sterling-influenced impetus waning heading into the US cash open with State-side players eyeing events at Capitol Hill as expectations mount for Congress to pass an interim stopgap bill and kick the can down one week to Dec 18th, whilst the bipartisan group continues to haggle over COVID relief with liability overhaul a sticking point. Nonetheless, the Buck was propelled in early European hours from its 90.686 overnight base to a peak at 91.241 but has since the Index has lost traction to stabilise below the round figure heading into the European close. Meanwhile, tomorrow’s State-side docket remains light with Fed officials also observing the blackout period, but with focus likely to remain on Capitol Hill developments. GBP/USD: 1.3650 Target. Gold: 1930 Target. DXY: 90 Target. EUR/JPY: 129.00 Target. Stay tuned for more posts to come this week! It will be a good week ahead!
by FTUKcom
GBPUSD emerging from years long bear trend and going back upBritish Pound/USD is giving us signs that we might begin to see a reversal to the bear trend that has lasted for 13-14 years. 1Y TF white energy is just starting to move up and about to cross the 50 mid-line. Unlike in 2014, where the white energy failed to move above 50 and dropped back down along with green line as the price stair-stepped down, this time the red RSI is at a much lower position where the green line and the white energy may not bounce off of it again, and I think there is a decent chance we may see the white energy go above 50 mid-line in the next 1Y candle. In the meantime, in the lower TFs such as 6M and 4M, we are seeing signs of a budding upward momentum brewing as the price started going back up and above weekly 200 EMA that we have been trading under for almost 7 years now. It is likely to see GBP continue to appreciate for several more months before any mid-long term, months-long correction phase is to take place. In the long term I personally believe that we are going to continue to see the price go up. For a long term investor, it may be a good time to started moving your assets into GBP seeing it has the potential to continue to rise in value. Alternatively, one could wait until the 1Y white energy crosses above 50 for confirmation of upward momentum before getting in. FOREX markets aren't necessarily a playground for scalpers; one could very well do swing trades with GBP. At this point, for the foreseeable few months, I do believe we are at a spot where a mid-long term swing long would be profitable.
Long
by Popovich