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Sterling

GBPCAD 4H Chart: Meets resistance Sterling has been guided by an ascending channel against its Canadian counterpart since late September 2017.  The pair bounced off the lower boundary of a dominant channel on September 11 and has since rallied against the Loonie. The currency pair has moved closer to the border of a medium-term pattern and could be set for a breakout.  From a theoretical point of view, a retracement south is likely. However, this retracement could find a support cluster set by the weekly PP and the 55– hour SMA near 1.7550. Technical indicators suggest that the exchange rate is likely to continue its bullish movement in the nearest future.
Short
by UnknownUnicorn890690
GBPCHF4H Chart: Full review The Pound Sterling has been constrained by a descending channel against the Swiss Franc after hitting the weekly pivot point near 1.3515. The upper boundary of a junior channel was reached on January 25. The Sterling's inability to make a new wave up suggests that it might breach the dominant channel in the next few hours. Technical indicators flash bearish signals during the following trading sessions; therefore, the currency exchange rate is likely to decline further until it finds support at the monthly and weekly PPs near the 1.2888 mark.
Short
by WizzyPips
GBPAUD 4H Chart: Possible retracement The British Pound has been bound by an ascending channel against the Australian Dollar since the beginning of January. The lower boundary of the dominant channel was reached on January 11 and the pair has since remained trading along the channel. Meanwhile, a breakout from the upper boundary of the dotted triangle pattern can be observed on the chart. Everything being equal, the pair is likely to continue its rally until it finds resistance at the combination of the weekly and monthly PPs near 1.7891 mark.
by UnknownUnicorn890690
GBPCAD 4H Chart: Ascending channel continues The Pound has been steered by an ascending channel against the Aussie since early January. The movement started when the pair touched the lower boundary of the daily dominant channel. The Bull movement is likely to continue for a short period of time until it reaches the weekly and the monthly PPs near the 1.7803 mark. The overall market sentiment is bullish and it is might likely to continue for the following week until it reaches the upper boundary If and when this happens, the GBP/CAD pair should retrace south for a brief period of time.
Long
by UnknownUnicorn890690
GBPJPY: Are we done pushing Higher?In this Analysis of "Sterling vs. Japanese Yen" I found the Fibonacci quite a useful tool, as you may have noticed. I found that the 50% Fibonacci level is quite powerful and after a bounce off this level can indicate further bullish moves as we have seen before. Also the 1.618% Fibonacci if achieved can also add confidence for a bull market. Notice on a 1H time frame we see 2 separate Fibonacci confluences which can easily sway anyone to consider a bull position. The question here lies in whether we will see a major or minor pullback. Perhaps even a rally off the bat. In any case a safe bet could be to buy at a test of the 50% Fibonacci level as indicated in the example. Sterling has been pounding away at making new recent highs, you can assume the strength will continue unless proven otherwise. Pullbacks are inevitable and unforeseen but as they say "Trend Is Your Friend" the only concern should be "where do I get on?"
Long
by Alexkly
Similar movement, different asset biased by GBPUSDKey points for entries (yellow lines). After been knocked out in this pair, we assume exactly the same theory from GBPUSD which target seems to be so far away and that's the reason I'd be looking for a set up and buy and hold, because the RRR will be incredible if we are right. We can use yellow lines with arrows to take short and long position. Anyway we have to consider that if we have a war or a real threat there's absolutely nothing we can do with it. Target 1: 161.456 Target 2: 178.974 Have a Good Trading Week Cream Live Trading, Best Regards!
Long
by wildcreamlife
Long GBPUSD - Step 3Please see related idea below. In step 1 we took some pips within the structure while we waited for it to break. In step 2, we took more pips as price broke out of the structure (as described in related idea). I was too busy to post the chart here though. Now in part 3, we see the price has came back down to test the structure that it has broken out of today. This gives us an opportunity to repeat step 2, should we see a green confirmation candle. Access to all of my trade signals can be found at renforex.com All signals sent direct to all of your devices in real time with exact stop loss and take profit levels.
Long
by Renforex
GBP/NZD 4H Chart: Breaks junior patternThe Pound has recently ended trading in the junior channel down pattern on the four hourly chart pattern against the New Zealand Dollar. The move was expected due to the fact that the currency pair had touched the lower trend line of a highly speculative medium term channel pattern. The dominant channel is considered speculative, as its trend lines are mildly confirmed. In regards to the medium term future, the pair should form a new junior pattern, which should be an ascending one. However, before that the pair would face a strong resistance cluster near the 1.91 mark.
by UnknownUnicorn890690
1
GBP/JPY 4H Chart: Pound gains groundThe highly demanded GBP/JPY currency pair has continued to surge. However, it has not occurred in the previously drawn long term channel. Instead there have been various non-forecasted fluctuations. Although, such events are in general expected from this exchange rate. Due to that reason the Dukascopy research team has adjusted also the long term patterns. In regards to the near future, during the review a junior channel up pattern was mapped. It is highly likely that this channel together with other support levels will force the rate through the monthly R1 and push higher.
Long
by UnknownUnicorn890690
Extremely Long Term EURGBP Chart!Today i'm visiting my favorite Forex pair to look at and discuss a very long term Elliott Wave count that it appears to have formed. It appears as if in early 2008, a 5th wave completed as a high. From there the market has been clearly corrective, ultimately going sideways. A Zig-zag completed into mid 2015 and from there we have seen a sharp move to the upside. The reason I am labeling that particular bounce as a Primary ((A)) instead of ((1)) is because Primary ((B)) is forming a triangle. Wave ((2)) cannot be a triangle as triangles are penultimate patterns and are followed by a wave ((C)), ((5)), ((Y)) or ((Z)). Therefore, I have come to the conclusion that we are likely to see a 3 wave move to the upside from the 2015 low. This means on the Cycle (turquoise) degree, we are going to either see a flat or triangle (variation thereof) pattern. That leads to believe that EURGBP will be capped by 1.10 (and ultimately 1.16) and as long as it remains below this level, it remains under pressure to the downside until the pattern has been completed (as a result of the break of 0.69). For now, the market looks like it will continue sideways while Primary ((B)) is under progress and therefore there is no great enter and hold opportunities. I would wait for Primary ((B)) to complete before then looking to buy and hold. We have to remember that the pattern could change, however by looking at the previous patterns we can expect this pattern to play out. I hope you found this useful and in decades to come, we can review this chart. :) Goodluck!
by StippWian
4
GBPUSD lining up a possible bounce!Price is consolidating within a triangle and is lining up for a possible bounce. We’re seeing major support above 1.3300 to 1.3311 (50% Fibonacci retracement, 76.4% Fibonacci retracement, horizontal overlap support) and a strong bounce could occur at this level to push price up to at least 1.3457 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance). Our next major level of support is at 1.3210 (Fibonacci retracement, horizontal swing low support). Stochastic (34,3,1) is seeing ascending support possibly signaling a bounce is impending. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
GBP/CAD 4H Chart: Reveals another patternThe GBP/CAD pair was last reviewed at the start of December, when it rebounded against the lower trend line of a long term support line. It has to be noted that this trend line is a rather unusual one, but has proven itself throughout the second half of 2017. That resulted in a rebound and an eventual breaking of the at the time active channel down pattern, which at the time was in the center of attention. However, the pair did not form a medium term channel up pattern, as it could have been expected. Instead the pair has revealed a different and broader channel down pattern, which is set to keep challenging the support line.
Long
by UnknownUnicorn890690
GBPUSD GBP Long Term Downtrend Now BrokenGBPUSD Sterling/Dollar Long Term Trend Change GBP effectively double bottomed nearly a year ago now. Since then it's been travelling in channel whose penultimate rally recoiled very precisely from the long term dynamic which has clipped all previous rallies back as they rose to touch this powerful last line of bear defence. Below that line they have maintained control of the medium to longer term. That line has now been broken. In classic fashion, GBP has now returned to test the same line from above, currently giving it one last lingering caress before flying higher. It is a buy at current levels down to 1.3312 with stops below 1.3300 for small loss if wrong from here. Upside target is 1.3832 minimum and 1.4043 maximum . So about 500 pips upside and 33 down. The market is in for a surprise coming here, so long as the old long term resistance line can hold up as support over the next few hours. And even if it breaks overnight it looks only likely to spike to a fleeting low at 1.3228 at very lowest as a result and will then likely rally again. Look to buy GBP on any minor weakness with stops as above. If struck look to buy again from 1.3260 with stop 40 pips lower still. For this call to stay good the old long term dynamic must hold now...if it cannot be broken by bears today it's showing us how strong it is before the rally outlined above begins. And even if it breaks lower, so long as it creates a spike of buying interest which takes it back above the the long term dynamic quite quickly, then once again it is showing underlying strength, not weakness. Buy dips until minimum target is reached 500 pips higher.
Long
by sumastardon
Short GBPUSD Trading IdeaUSD Bullish Rationale : 1. Optimism tax reform bill 2. It's been said that the market have fully priced in December interest rate hike but this "certainty" seems to ease investors in betting Dollar strength at the moment 3. Personally, I see no reason as of now to be bearish the dollar GBP Bearish Rationale : 1. Continued uncertainty and MESS over the brexit divorce deal 2. Another mess over the Irish border 3. Lack of tier-1 event to help boost the Sterling today Factors could invalidate the trading plan : 1. Positive development on the brexit divorce deal 2. Any geopolitical issues comes up such as the North Korean missile stuff etc etc Levels to trade : A. I would prefer if the price make another test on today's daily pivot. I will seek reversal signals or structural break and short the pair from here. The rationale of the target price (TP) is a) within the average daily range b) It has been tested and respected before c) Missed Pivot B. In the event where price could pierce through the daily pivot, this level is where I would find technical reasons to short the pair such as reversal candlestick and/or structural break and/or the old fashion (but still effective if used properly : Moving Average crossover!). The rationale of the target price (TP) is a) within the average daily range b) It's potentially today's low
Short
by sufiansaid
GBPJPY Trading Plans I am still banking on market's risk averse tone towards the U.K due to the Brexit divorce bill & Irish Border issue. I am not sure if the news of multiple attempts on UK PM May's life will weigh down the sterling but the Asian Equities market have been risk averse so far today (it it UK PM May's assasination attempt story or Trump's upcoming announcement of Jerusalem recognition as Israel's capital - risking wrath from several parties.. or a bit of both?), but the uncertaintly over the first issue is enough for me to be bearish bias on the sterling today. Poor Service PMI numbers yesterday on the economic data perspective, added to my conviction. A.1 and A.2 : are the two targets that I am looking the price to test before looking in if my technical parameters are triggered and grant me short the pair towards 150.00. B : If price breaks the A.1/A.2 levels, I would have to re-assess the market's mood at that time if the move was was due to bullish catalyst a bullish Sterling (I will explain it below at "Risks for the trade"). If I couldn't find anything, I will be looking to short from that level and target would be dependent on price strutures at the time. I always look for a trade setup that is minimum 2:1 C : If you deal with this pair, a correction/retracement sometimes hard to come by. If theres any pair that gives you the FOMO effect (Fear of Missing Out), its this pair! If the pair continues to come down and breaks 150.400, I am anticipating it will be halted at 150.00 or the missed pivot levels below that. I would be an observer if the price breaks 150.400. I hate to chase price. The only way I would think of shorting the pair is if it makes a correction/retracement towards A.1 and/or A.2.. but most probably, id make new plans by then.
Short
by sufiansaid