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Sterling

Joe Gun2Head Trade - Head and shoulders on 60min EURGBPTrade Idea: Selling EURGBP Reasoning: Head and shoulders on 60min EURGBP Entry Level: 0.8704 Take Profit Level: 0.8652 Stop Loss: 0.8726 Risk/Reward: 2.36:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
2
Joe Gun2Head Trade - Head and shoulders top on GBPJPYTrade Idea: Selling GBPJPY Reasoning: Head and shoulders top on GBPJPY Entry Level: 164.15 Take Profit Level: 158.02 Stop Loss: 165.88 Risk/Reward: 9.46:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
5
Joe Gun2Head Trade - Head and shoulders top on GBPJPYTrade Idea: Selling GBPJPY Reasoning: Head and shoulders top on GBPJPY Entry Level: 164.88 Take Profit Level: 158.04 Stop Loss: 166.23 Risk/Reward: 5.09:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
1
GBPCADHello everyone! GBPCAD is under weekly bearish pressure but recently has bounced back up from an important multiyear demand zone. GB Prime Minister's urgent resignation put selling pressure at the sterlina due to isntability. I believe that this is temporary and GBP will rise again. But, at first PMI should be released and lets give space to the market to settle on Tuesday. As price action, Friday's closure formed a long bottom wick indicating weakness of sellers. The pink descending trendline is broken which means a possible trend reversal to bullish bias in the medium term. Price seems that has rejected 0.618 Fib level in the 4H TF and I a believe that after a very possible drawdown to 1.5236 area, the price will rally up to 1.600 ara. Goodluck!
Long
by The_Forex_Path
Joe Gun2Head Trade - Double top on GBPAUDTrade Idea: Selling GBPAUD Reasoning: Double top on GBPAUD Entry Level: 1.7643 Take Profit Level: 1.7240 Stop Loss: 1.7830 Risk/Reward: 2.14:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
1
Joe Gun2Head Trade - Gap filled on GBPUSDTrade Idea: Selling GBPUSD Reasoning: Filled the overnight gap, downtrend expected to continue. Entry Level: 1.1378 Take Profit Level: 1.1151 Stop Loss: 1.1425 Risk/Reward: 4.94:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
2
Joe Gun2Head Trade - Double top on GBPAUDTrade Idea: Selling GBPAUD Reasoning: Double top on the 4H Chart Entry Level: 1.7660 Take Profit Level: 1.7240 Stop Loss: 1.7794 Risk/Reward: 3.09:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
1
GBPUSD dip to gap fill then bounceOANDA:GBPUSD will dip back down to fill in some PA and Volume gaps. With an anchored VWAP from September 13 NY session open with a big dump starting a long downtrend, PA is ranging between the standard deviations of the long term VWAP. Above the current VWAP, it opened the week with a large gap up from last week's close, which it will go fill on its way back to the VWAP and on down to fill a volume gap seen in a (up/down) volume profile over the same period. After running through the volume gap in a downtrend continuation, shorts reacted sharply twice with price returned to that zone. After it broke up through the gap zone quickly, it returned once and longs sharply pulled it up. I speculate a move back down to the VWAP-1stddev support and the volume gap before Sterling finally begins recovering from his bender before the morning after. (Note: I do smell a little hopium odor from the shorters next door.)
Short
by UnknownUnicorn17032407
Joe Gun2Head Trade - Buying a pullback on GBPNZDTrade Idea: Buying GBPNZD Reasoning: Intraday pullback to support Entry Level: 1.9936 Take Profit Level: 2.0266 Stop Loss: 1.9849 Risk/Reward: 4.26:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Long
by Signal_Centre
Potential swing short on EGAfter that liquid raid to the top side and rejection, I think we will see a bearish order flow seeking rebalance below. We have a weekly RTO structure on the weekly chart resting below 0.81000 flat. I would like to see the week open with EG taking PDH early on and showing a willingness to sell off. This is backed by my fundamental vision of current economic conditions in the UK and Europe. Of course, it can go either way faster than lightning - I suspect sterling to have a great catalyst with a new king taking the throne as we may see radical fiscal and monetary reform providing a perfect smokescreen for the pound to get rowdy. What does Europe have? Unless a black swan event involving the Ukraine / Russia conflict - not much. Something tells me we may see some VERY WILD and VERY BIG events unfold in the near future, but I don't know exactly when - this is based on what I see in the charts, and I do believe that the market tells the future if you know what you are looking at. Trade light, trade smart, move fast, and keep your head down - the last thing you want is to get caught in the BS that will inevitably ensue.
Short
by MarketWarriorFX
2
Joe Gun2Head Trade - Sterling weakening, lower prices expected.Trade Idea: Selling GBPUSD Reasoning: Sterling weakening, lower prices expected. Entry Level: 1.1163 Take Profit Level: 1.0933 Stop Loss: 1.1245 Risk/Reward: 2.89:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
GBPUSD LONG THEN BIG SHORTS COMING UP!Hello traders. Today I am sharing my GBPUSD analysis. I am using the Elliot wave trading technique which I commonly teach Here we can see price is currently forming subwave 4 in wave 4. We are expecting subwave 4 to reject one of our fibonacci levels and not surpass our blue invalidation box below. Once we see bullish rejection we will be forming subwave 5 in our corrective wave. Once we see subwave 5 fully form, we would have fully formed our corrective wave and we will be looking for our BIG SHORTS which will secure atleast 1500 pips! We will update a more precise reversal location for our shorts closer to the time. Be sure to check out my other ideas
by Pips-Collector
1
London Bridge is Falling Down!CME_MINI:M6B1! U.K. financial markets went into a freefall last week as Prime Minister Liz Truss announced aggressive income tax cuts amid deep fiscal trouble. British pound is trading at $1.11 to USD, half of its value in 2007. However, it’s unfair to blame everything on a new PM and a new King. Both got their jobs just a month ago. Sterling’s downfall started at the Bretton Woods in 1944, where US dollar replaced it as the default currency in international settlement. More recently, Brexit made UK weaker and less integrated into the global economy. Let’s take a quick look at what happened in the last decade: David Cameron (2010-2016) • Mr. Cameron was reelected Prime Minister for a second 5-year term in May 2015 • To fulfill his campaign promise, he organized a referendum on June 23rd, 2016 • When asked if the UK should stay in the European Union, 51.9% of the voters said No • On July 13th, 2016, Mr. Cameron resigned Theresa May (2016-2019) • Theresa May became the new Prime Minister after Mr. Cameron resigned • In the following three years, she failed to negotiate exit terms with the EU • On July 24, 2019, Theresa May resigned Boris Johnson (2019-2022) • Former London Mayor Boris Johnson replaced Theresa May as Prime Minister • He engineered a hard Brexit in January 2020 without finalizing exit terms • Johnson led UK government through global pandemic and Russia-Ukraine conflict • On July 7, 2022, Boris Johnson announced his resignation Liz Truss (September 6th, 2022 - Present) • On September 23rd, Liz Truss announced the so-called “UK mini-budget” • Key points: cut income tax from 20% to 19% and abolished a 45% higher tax rate • New budget was received poorly by investors, causing market panic last week When each of the Prime Ministers left office, they saw Sterling weaker than the day they assumed office: Cameron, from $1.7 to $1.3; May, from $1.3 to $1.2; Johnson, from $1.2 to $1.15; Truss, in less than a month, from $1.15 to $1.09 before rebounding to $1.11. Where Will Sterling Go from Here? Recent depreciation of Sterling can be explained by the Interest Rate Parity (IRP) theory. IRP states that the interest rate differential between two countries is equal to the differential between the forward exchange rate and the spot exchange rate. It basically says that a country with higher interest rates would lead to a stronger currency. • In 2022, the Fed raised interest rates five times for 300 basis points (bps), to 3.00%-3.25% • In comparison, the Bank of England raised rates three times for 125 bps, to 2.25% • European Central Bank raised rate only once for 75 bps, to 0.75% • The Fed outruns the Bank of England and the ECB in both interest rate level and the frequency of rate hikes • As prescribed by the IRP, aggressive Fed tightening results in a strong dollar, and weak Sterling and Euro In the next year, I expect the pending global recession could result in a soft landing in the US, but hard landing in both the UK and the European continent. In the long run, exchange rates reflect the relative strengths of two countries. The divorce of the UK from the EU makes them both weaker players on the world stage. In 2021, the European Union had an aggregate GDP of $17.9 trillion, making the EU Block the 2nd largest economy in the world behind the US. However, after exclusion of UK’s $3.11 trillion GDP, the 27-nation EU would rank 3rd behind China. UK ranks 5th, after the United States, China, Japan, and Germany. This is a far cry from the mighty British Empire which accounted for a quarter of the world economy in 1870. Today’s British Commonwealth is a loose network of countries with shared culture and history. None uses Sterling as legal currency except for the UK. How to Trade a Bearish View in British Pound? The next Fed rate-setting meeting is scheduled on November 1-2. October may be a calm month in terms of US monetary policy actions. However, in a crisis mode, it’s quite possible for both the Truss administration and Bank of England to utter emergency measures to strength the British financial markets, with Pound Sterling included. I would watch the British government actions closely in the next few weeks. We could wait for a rebound of Sterling before putting on the Short Futures trade. CME Micro GBP/USD futures ( CME_MINI:M6B1! ) has a notional value of £6,250. Initial margin is $255 per contract. December contract (M6BZ2) is currently quoted at $1.1172. Barring a new "Lehman moment", the Fed would stay on its course to raise rates and fight inflation. I expect dollar to resume its rise against the Sterling in November and December. On July 13th, my trade idea, The Demise of Euro Is Not Greatly Exaggerated, called for shorting the Euro. The Euro has since fallen a whopping 2% to $0.98 from on par with the dollar. My opinion on a bearish Euro CME:6E1! still holds today. Financial market is extremely volatile this year. Getting an information edge increases your odds of success in managing risk. I suggest leveraging real-time market data for a better gauge of market situation. TradingView users already have access to delayed data. A Pro user could upgrade to real-time CME market data for only $4 a month, a huge discount at the time of high inflation. Happy Trading. Disclaimers *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Editors' picks
CME:6B1!Short
by JimHuangChicago
52
DXY Sells off As the Euro and Sterling RallyThe DXY saw the retracement we have been discussing today, owing to a massive rally in the Sterling and Euro after the BoE bought UK bonds. This is likely to be temporary, as persistent hawkish Fed rhetoric is likely to keep interest rates high in the US, boosting the dollar further. We are currently seeing support in the 112.70's just a bit below where we anticipated support at 113 or so. If things continue to go south, we could retrace all the way back to 111.37, otherwise we will likely make a run for highs again.
TVC:DXYLong
by quantguy