Sterling
Double Bottom for Cable?Could this be a double bottom for british pound? We will see. If so, the target is 1.68. WOOW
Persimmon - Looks set to re-build its share price.Technicals
Persimmon is holding at key support and showing signs of attracting value hunters. I also note the bullish divergence on the relative ratio (Persimmon share price / UKX). The price of sterling has been a drag on the shares and with GBP moving higher yesterday it could offer some relief to domestic stocks. Technically and fundamentally, Persimmon looks good value here.
Fundamentals
Persimmon currently ranks towards the top of our fundamental model with exceptional scores on value, profitability, momentum and quality metrics. The shares have underperformed the market over the past 1 to 3 months but we do not expect this to continue.
Pros
Ranks in the top 5 of our fundamental ranking model.
Canaccord Genuity reiterated ‘Buy’ advice on the 20th August with a price target of 2720p.
The business continues to produce steady cash flow and boasts a healthy dividend.
Cons
Sales have slowed in recent months.
Peel Hunt reiterated its hold rating on the 1st May 2019 with a price target of 2025p.
Complaints have been raised about the quality of Persimmon homes, this may act as a drag in the short term.
Stop: 1790p
Target: 2430p
GBPUSD 1.2500 OR 1.3000?Well well what a week for the pound. Boris actually looking like he's pulling his finger out and cut the irrelevant and commences positives talks with IE Brexit associates that see the Pound rocket 500pips in two days!!
Now will the market stabilise and pull back? I think so, but when? currently I have a monthly key level and a pink weekly trend line at 1.27000 where we saw price get held. We are yet to see any bearish signals on a higher timeframe so there could be further room for a more upside to a next key level of 1.3000
Now with the EU summit taking place towards the end on the up and coming week ahead we need to keep our whits about the market ahead. Sticking toy technical thoughts I would like to see another reaction of 1.2700 and a retracement with high timeframe resistance holding strong. with 1.2500 being a fibonacci retaracement zone is see this as a great short opportunity
A "QUICK RISE" & A "QUICK FALL" | STERLING POUNDInvestor Analysis,
Asymmetric Risk on POUND ahead of BREXIT DEAL.
Speculator Analysis,
Based on Technical, SHORT GBPUSD "A Quick Fall is Expected"
DO NOT OPEN A PENDING ORDER YET, WAIT FOR THE NEXT WEEK's MARKET OPENINGS!
10-10-2019 GBP/USD -Path to deal Brexit? Long!-The Cable held a 61% fib level and bounced from here, thanks to the possible Brexit deal. We may see a complete ABCD cycle before the Brexit happens. 1.268XX looks like an ideal target for the bull-run with U.K. and Irish are working on the pathway to a possible Brexit deal. ----Point "D" meets absolute downtrend line colored in red----
10-09-2019 Another possible GBP cenario- Just another idea-GBP is currently at a very important level. -61% of fib -
It is obviously trending downward, but the sentiment on this pair is still very bullish.
74% of GBP traders at net long according to IG sentiment data. The trend usually goes against the sentiment, but sometimes it works.
If the Cable holds a current level and bounces from here, we may see a complete ABCD cycle before the Brexit. -Point "D" meets absolute downtrend line colored in red-
