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GBPJPY: This pair poised for a drop / BoJ Governor voteWe've seen recent strength from JPY in preparation for the announcement of a new Governor, with nominations expected in the next few days. The currency rose this past week when it was 'leaked' that Kazuo Ueda could become the next Governor, and this could lead to a change in monetary policy. Anyone following me will note I'm weak on GBP and generally bullish on JPY in my ideas - I don't think BoE have room for hikes that can compete with other majors, BoJ do (and they seem to have managed their economy incredibly well post-pandemic). BoJ certainly has room for manoeuvre, and I'm expecting strength from the yen this year. With inflation levels higher than target, interest rates low and potentially a new Governor that is no stranger to voting for monetary tightening when needed, the landscape is there for shorting the GBPJPY. I think this pair is due a big drop, we may see the rise up to 164 to form a rising wedge, but my expectation is a fall before it reaches that point, and a big one at that.
Short
by Finchcliffe
EURGBP - I'm seeing nothing but a continuation to the upsideEuro Pound has been super messy of late, but after last week's respective Central Bank news and immediate future stance, I think it'll be a clean bullish continuation from here. ECB hiked rates by 0.50% last week and said there will likely be the same next time out. BoE also hiked by 0.50% but were much more dovish in their statement. I think it's pretty clear (if you live in the UK) that our economy is under enough pressure (cost of living, output, retail sales, you name it) without another 0.50% hike, I just don't think the BoE would / could do it (regardless of inflation). Current price is above all of my MA's, I think we'll see a continuation close to testing last September highs in the coming week or so.
Long
by Finchcliffe
3
GBPUSD, Weekly analysis Feb 6-10, 2023The pound against the Dollar faced a bearish momentum last week, a price zone of 1.24 again proved a strong resistance for this pair and sent down the price s from 1.24 to 1.20 last week, Here is also the same reason we are seeing the weekend Pound and strong dollar behind the last week's sellers The day chart displays a breakout trade during the last week out of the Rising wedge, this Friday's breakout move may look forward to retouching the breakout zone of the 1.23 price mark this week, before making a further downward move GBP's Monetary policy and GDP reports are awaiting on February 2nd week respectively on Thursday and Friday these reports may play a role in strengthening the pound, We have to wait for the reports this week
by Akfx369
GBPUSD - Navigating the current price actionHi traders, GBPUSD is in a multi-scenario area, as the chart is not very clear right now. One scenario is a continuation to the upside from here, another one is a retracement to the bullish area marked on the chart and then a continuation to the upside, and the third one is a deeper correction to the 4h-D trendline. All the scenarios are marked on the chart. Trade with care. Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. We do not recommend making hurried trading decisions. You should always understand the risk that trading implies and that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
Short
by FractalTrading
GBP/CHF massive Buy opportunity 100pipsBasically the market structure is still in upward trend, we see a nice pull back to 38.2% fib level and nice triple bottom, we already got a nice confirmation on H4 candlestick (engulfing candle ) that indicate a nice bullish momentum, which is in confluence the the triple bottom, So we need price to break the neckline to continue to our target 1 of 100pips we have a nice risk to reward Follow me for more breakdown like this Thank you so much
Long
by ShinForex1