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J-GBP

GBPMXN - early next weekGBPMXN is an exotic pair that is very high risk - but also very rewarding if you find the right entry point and are prepared to lose big time. Losing? Big time? Ooops - nobody want so hear about that! Right? LOL. I was taken out for a major loss a couple months ago, as I did not appreciate how violent this pair is. But.. but I've learned a lot in the last two months. This time around I'm more controlled and more disciplined. So, early next week I'll decide what I do. Gonna study this one more over the weekend. This is not a 'revenge' trade - if I get involved. I don't do revenge. That's novice stuff. I may well stay out.
by Captain_Walker
Pound Kiwi (GBPNZD) Long!!!Hey Everybody, Alex Here! As you can see I'm currently eyeing a nice long set up on GBPNZD. I know everybody is bearish (bad) on the GBP at the moment due to all the discord concerning the Brexit talks currently taking place in Brussels. Even thought the overall sentiment towards the GBP is bearish (bad) and this trade is favouring GBP strength over the NZD, the economic out look for NZD is not looking good either, terrible actually. Thats the key here! For all you traders that really like your fundamentals to be in order before taking a trade, this isn't a trade of one currency being positive and the other being negative, its more of a... which currency sucks the least. So with that being said I do feel that UK is in better shape then the New Zealand art the moment. Now that we got the Fundamentals out of the way, lets just clarify the Technical confluences outlined in the video. as you can see price broke to the upside of the wedge it has been forming, and has been on a sharp trend upwards ever since. On top of that a last leg of the Eliott Wave is looking likely, with nice doji candles forming at an area of prior resistance now turned support which also happens to be the %0% fib level. As you can see there are decent Fundamentals paired with many Technicals supporting a move upwards for this pair! Hope this idea helps, and please feel free to like or comment as long as its positive! Happy Trading, Alex
Long
by MrPipProphet
2
GBPUSD & EURGBP post BoEBoE Vote split comes in at 6 - 3 BoE keeps rates and asset purchases unchanged at 0.50% and 435bln respectively. - Vote was 6-3 in favour of unchanged Bank Rate, unanimous for QE at 435B/APF at 10B - Haldane, McCafferty and Saunders dissented, voting instead for a June hike - Majority on MPC still reassured Q1 softness was largely temporary, but preferred to wait for further data on economy - Dissenters saw greater likelihood erratic Q1 growth would rebound, saw upside risk to wage inflation - MPC will not reduce stock of QE until Bank Rate reaches 1.5% (prev 2%) - Reduction in QE stock will be at a gradual and predictable pace; over number of years - Ongoing tightening of MonPol remains appropriate over forecast horizon - UK economy to develop in line with May QIR forecast - Global data since May QIR was mixed, financial conditions had tightened
Education
by RajDhall
BoE Preview with fundamental backdrop and key levelsWhile the consensus is very much that the MPC will keep rates unchanged at Thursday's meeting, there is a risk that some of the more hawkish members will point to the rise in earning's growth, which although still in negative territory in real terms, is now moving in the right direction. If inflation starts to flatten out as the exchange rate effects pass through, then a continued rise in wages will allow the BoE to normalise rates at a gradual pace, with all member cogniscent of the tightening bias elsewhere, most notably in the US. That said, there a plenty of 'ifs', not least of all Brexit, and as the negotiations have yet produce any material progress, the uncertainty will be a secondary factor and this will start showing up in the data. There are already concerns over the performance of the high street and the consumer, but with the EU digging in its heals on single market access, UK services face an unsettled future. The BoE will have to assume that there is a bumpy ride ahead, so at this stage, any hawkish signals are unnecesssary. The meeting in May is earmarked as the earliest the BoE will look to move again, and at present, the markets are pricing in a 50/50 chance of another 25bp hike. We fail to see how the odds can move materially to the upside, but equally so on the downside, upward projections in growth would underpin this and keep GBP on an even keel for now.
by RajDhall
1