Get started

Sterling

GBP/AUD OPPORTUNITIES POTENTIAL OPPORTUNITIES ON GBP/AUD: In the chart, we can see 4 opportunities presenting at different price zones. This means all set-ups vary depending on which price zone we are trading at. We are still however in an uptrend still until we take out 1.850 SETUP (A) - Long positions can be considered at this price zone as a double bottom formation will form. We may get multiple tests of this price and some consolidation before moving up. POTENTIAL BUY ENTRIES & TARGETS: ENTRY - 1.85369 STOPS - 1.82636 (270 PIPS) TARGET - 1.90 (560 PIPS) SETUP (B) - Sell positions would be favorable if price shows signs of consolidation and stronger bearish power such as bearish pin bars or engulfing candlesticks. POTEINTAL SELL ENTRIES & TARGETS ENTRY - 1.952 STOPS - 1.9636 (115 PIPS) TARGET - 1.9087 (430 PIPS) SETUP (C) - Sell positions would be ideal since a head and shoulder formation would have formed. POTEINTAL SELL ENTRIES & TARGETS: ENTRIES - 1.90867 STOPS - 1.91880 (100 PIPS) TARGET - 1.85319 (550 PIPS) SETUP (D) - At this price, we have observed much uncertainty, until buyers take control of the market. We think this pattern will repeat again. POTEINTAL BUY ENTRIES & TARGETS ENTRIES - 1.80742 STOPS - 1.79276 (146 PIPS) TARGET - 1.8538 (460 PIPS) DISCLAIMER: TRADE AT YOUR OWN RISK. THIS IS AN IDEA.
Short
by HONEYSIGNALSFX
GBPUSD: Update hey traders, I was asked a lot about GBPUSD and my take on it. for now, I don't have any active trade on this pair. the market has finally started to slow down and the first strong support to buy from is no 1.28. I will let the market follow the falling channel until the underlined support and there I will be looking for a reversal formation to buy the market. this week I would suggest not to trade this pair and let it calm down before taking any action. good luck!
Short
by VasilyTrader
2
Shedding A Few Pounds For Christmas...GBPUSD rejected at 1.35xx which acting as major resistance after the country went back on the leadership merrygoround. Here actively selling into all rallies in GBP crosses, although there is a caveat to Pound shorts in the immediate term. With Johnson and a ruthless Downing Street in full control of the press and hitting the “right” headlines the positive narrative around Brexit will continue and therefore dips will be perceived as attractive too many. The Conservative majority was clear and simple to trade, particularly in GBPAUD : GBPUSD In any case well done all of those in shorts from the 1.35xx election highs … you will remember “ perception is more important than reality with FX ” … Remain nimble to take some chips off the table. A squeeze below 1.315x will make me excited. This next chart indicates the sense of division in Britain, a fragmented society which also highlights the stupidity to have such a referendum on a complex topic. The UK is not like Swiss for example having referendum after referendum, rather it is a representative democracy. Yet sadly we are seeing a corruption of democracy via media manipulation swerving public opinion. For example, those who remember Cameron's premiership will remember the government was at the time asking for public to remain while they were pursuing policies of austerity (decreasing consumer confidence) and served to have more damage than good. The silent revolution or protest vote (all cleverly calculated) unlocked Pandoras box with a People vs Establishment narrative: Thanks all for keeping the support coming with likes, comments, questions, charts and etc. As usual jump into the comments with your ideas and views to open the discussion for all!
Short
by ridethepig
5
ridethepig | EURGBP Market Commentary 2019.12.16...That was it for the day on the FX board. Highlights going to EURUSD chopping through the 1.11xx handle and continuing its slow grind higher. We will need assistance from European macro numbers to make the move impulsive in nature (no surprises today’s PMIs suggest some early signs of stabilising). Services continue to do the heavy lifting while manufacturing lags badly thanks to protectionism. I will continue to add on dips and ride the pig with reassessment only necessary below 1.110x. GBPUSD … 1.35xx acting as major resistance after the country went back on the leadership merrygoround. There is a caveat to Pound shorts in the immediate term, with Johnson and a ruthless Downing Street in full control of the press and hitting the “right” headlines the positive narrative around Brexit will continue and therefore dips will be perceived as attractive too many. In any case well done all of those in shorts from the 1.35xx election highs … you will remember “ perception is more important than reality with FX ” … Remain nimble to take some chips off the table. A squeeze below 1.315x will make me excited. Good luck all those trading EURGBP, GBPUSD and EURUSD. A superb lineup as we enter into the final stages of the year, thanks for keeping the support coming with likes, comments and questions!
Long
by ridethepig