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Gbplong

GBPNZD - Is The GBP Strength Coming To An End?Analysis: Bullish Confluences In an upwards trend Retest of a key level 50% fib retracement touch Upwards trendline touch GBP is the 2nd strongest major currency whereas the NZD is the 5th strongest major currency 25K short position decrease for the GBP Bearish Confluences 30K long position decrease for the GBP 3K short position decrease for the NZD Stay Safe - The JPI Team Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
4
GBPAUD - Will The AUD Continue To Be Bearish?Analysis: Bullish Confluences In an upwards trend Break & retest of a previous area of resistance for support 38.2% fib retracement level present Upwards trendline present GBP is the second strongest major currency where as the AUD is the 7th strongest major currency 25K short positions decrease for the GBP 2K short position increase for the AUD Bearish Confluences 30K long position decrease for the GBP 1K long position increase for the AUD Stay Safe - The JPI Team Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
8
GBPAUD - Will We See This Pair Rise After CPI?Analysis: *THIS SETUP WAS SHARED IN OUR VIP GROUP YESTERDAY* Strong upwards trend (bullish confluence factor) Retest of a key level (bullish confluence factor) 50% fib retracement level touch (bullish confluence factor) Upwards trendline touch (bullish confluence factor) GBP 2nd strongest major currency (bullish confluence factor) AUD 3rd weakest major currency (bullish confluence factor) 24K long position increase for the GBP (bullish confluence factor) 5K long position decrease for the AUD (bullish confluence factor) Comment: We have a strong reasons to be bullish on this pair, hence why we are. The CPI figures coming out for the AUD could give us the catalyst we need for this pair to head higher. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Stay Safe - The JPI Team Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
6
GBPNZD - A Breakout Of The Range?Analysis: Taking a look at the charts we can see that price looks slightly choppy and like we're stuck in a range, however a trade has setup that is in accordance to our plan so we're taking it. Although price is in a range we can see that price is still heading to the upside slightly. We also have an upwards trendline which confirms that we are actually in an upwards trend. This means that we're only looking for long positions. We had some news that came out for the GBP this morning which was slightly negative causing an overreaction and price pulled back to an area that we're interested in. Whilst this news was negative we don't see this news event as that important and we also have a lot of other confluences pointing to bullishness so we don't really care about this small thing going against our idea. Whilst the area that we have marked out might not seem like an obvious level, to us it looks like a great place to enter at. We've seen this level hold in the past so we expect that it could hold again making it a possible support level, however this isn't the main reason why we like this level. The driving factor for why we have this area that we marked out is because of the added confluences which are lining up with. Firstly we have the 50% fib retracement level which we expect buyers to be sat at wanting to push price higher meaning that this favours our bullish thesis. Another confluence that we have is the upwards trendline. When we've seen this trendline be touched before we've seen it be respected and price has then made a move to the upside. Trading is all about history and patterns as they repeat themselves, so if this has happened in the past then its likely that this will happen again giving us another reason to be bullish especially from this area. The final technical confluence we have is the candle that we saw on Friday. We saw strong bullish momentum and we were expecting this to continue this week however after the news came out, price dropped back to our area of interest. Like we've said already we think that this is an overreaction so we expect to see the bulls step in again and push price higher, going in favour of our bullish thesis. Fundamentally as well the GBP is the 2nd strongest major currency whereas the NZD is the 5th strongest major currency so this massively goes in favour of bullishness on this pair. Taking a look at the COT data as well we saw an increase of 18K short positions and an increase of 24K long positions on the GBP, which is bullish, again favouring the long side. For the NZD however this is the opposite. We saw a decrease of 100 long positions and an increase of 2K short positions, indicating possible bearishness for the NZD, which goes in favour of our overall bullish thesis. We have the fundamentals pointing to bullishness and we have a strong place to enter from which is why we are bullish on this pair and expect to see a continuation to the upside. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Stay Safe - The JPI Team Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
14
GBPUSD (Yearly record...)as we said in the the price of GBP will be bullish to reach 1.2985 and already get it there, and this is after the Governor of the Bank of England says we will increase the interest rate till inflation Get 2% again and the inflation of the USA will impact the movement today especially if released under the 3.1% so now the direction has a bullish trend but it is possible to do a retest till 1.2850 and then start the bullish to reach 1.2985, 1.3055 and 1.31300 pivot price: 1.2970 resistance prices: 1.3050 & 1.31300 & 1.31700 support price: 1.2850 & 1.2800 & 1.2718 the movement will be between 1.2850 and 1.2985
by SroshMayi
GBP/USD bulls eye a retest of 1.2800GBP/USD remains in a strong uptrend on the daily chart, although prices began retracing on June 16th. We're now looking for momentum to revert to its bullish trend. Whilst prices failed to hold above May high, they're now back above them having formed a 3-day bullish reversal pattern (Morning Star). A small bearish inside day formed due to the 3-day weekend in the US, and prices remain beneath a retracement line. But bulls could seek evidence of a swing low around support zones such as 1.2664/67 (weekly pivot point/May high) or the 1.2575 (volume node and lower 1-week implied volatility band). We're targeting the 1.800/50 area near cycle highs and the upper implied volatility band.
Long
by CityIndex
GBPCAD - Inverse head and shoulders pattern forming?Analysis: Price last week managed to put in a new higher high showing us that we're in an upwards trend meaning that we only want to be going long on this pair. At this level we saw that price held as support if we look left so we expect that it will hold again. Now for this particular setup we don't have any fib levels which we usual look for but we do instead have another pattern, an inverse head and shoulders pattern. This is a bullish chart pattern which is often followed by a bullish move after the second shoulder is formed which is what we expect and this second shoulder lines up with our support level. To add further to this level of support we have a previous downwards trendline that was broken and now is being retested for support. We expect that buyers will set here and will want to hold this level making it a good buying opportunity. Taking a look at the fundamentals we have the GBP which is the 3rd strongest major currency compared to the CAD which is the 2nd weakest major currency so this is already going in our favour, but we get even more confluence as we dig deeper. As of the most recent report for institutional positioning on the CAD we saw an increase in both long and short positions so this is pretty neutral but this isn't the same story for the GBP. As of the most recent report on the GBP for institutional positioning we saw an increase in long positions and a decrease in short positions showing the strength of the GBP and we expect that this will continue. Overall the technicals and the fundamentals are pointing to bullishness on this pair which is why we have our long bias on GBPCAD. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all. Stay Safe - JPI Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
26
GBP/USD pulls back into key support clusterGBP/USD has pulled back from its highs and looks like it wants to build a base above the May 2022 high. An inverted hammer formed on the daily chart around the 10-day EMA and momentum has turned higher ahead of the European Open. The near-term bias remains bullish above Friday’s low and for an initial move to 1.2800 or around the 1.2850 highs. A break above which brings the 1.29 handle into focus, just below the upper 1-week implied volatility band.
Long
by CityIndex
GBPAUD - Will The AUD News Change The Trend Direction?Analysis: Looking at this pair we're able to see that price is making a move to the upside. This is confirmed when we take a closer look at price and we can see that price is forming a series of higher highs and higher lows which confirms our bullish thesis. Currently price is sat at a key level which has held as both support and resistance in the past so we expect that this level will be respected and will hold again. Fundamentally the GBP is the 3rd strongest major currency pair and each week it gains more and more strength, whereas the AUD is the 3rd weakest major currency pair making it not very attractive to buy. Although the AUD did have some bullish news last night we don't expect that this will continue especially after the AUD news that we're expecting tonight. If the news later tonight comes out bullish for the AUD then this will invalidate our idea however if the news comes out bearish for the AUD then we'd have everything that we need to enter long on this pair. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all. Stay Safe - JPI Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
4