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Brexit

GBP/USD- Downward move AheadFA: Britian have failed to strike a trade deal with the USA due to Covid and that being a priority currently- however, this was something that they were relying on after Brexit. Therefore, there may be downward pressure on the Pound. Response to the outbreak was rather lackluster and a Brexit deal is looking more unlikely with the EU prioritising their response to the outbreak as well. Britain is therefore in No Mans land in terms of economic ties until the outbreak blows over. TA: Rally has been halted at a KEY FIBONACCI level, we can expect great downward pressure Key traditional Resistance area, if we don't get a candle above the rectangle we can expect a downward move. Megalodon Whales (Rahim) You are welcome to share your ideas below and post your own chart, trade safe :) OANDA:GBPUSD OANDA:GBPJPY OANDA:GBPZAR
Short
by BoSukas
ridethepig | EURGBP Market Commentary 2020.07.22🔸 An 'ingenious' saving move from Europe and finally they are able to get debt mutualisation through. It will be very bullish for EURUSD in the Medium and Long term horizons, although the ST will become a lot more cloudy via Covid as we enter into the Autumn / Winter for the Northern Hemisphere. I prefer to play EUR on the crosses and vs. GBP is a no-brainer considering that no-deal brexit is still to come and counter any short-lived GBP strength. I am fortunate enough to be dealing with an audience who can take a hint and understand when not to believe politicians. It went: Next came: And now we are entering into a whole game, because EURGBP is a good example of how even in FX both sides can align to the same direction and define the central strategy. Here the following line remains that Brexit is giving up competitiveness and market access (at least in the Short-term we can agree whatever your view is on the matter) which opens up the need for currency devaluation. As long as the UK side makes soft, it makes it difficult to build a constructive view on GBP. The latest ‘track and trace’ systems entering into the picture will weigh heavy on consumer confidence and ensure GBP will remain soft. Actively tracking the same loading zones with 0.905x to add longs in EURGBP and 1.270x to load shorts in GBPUSD. A previous example was last year with the elections, but this is no less imaginative. In a situation where both fundamental sides align, EURGBP will be able to turn the 0.91xx handle into a new base for activity which we can handle in an almost virtuoso fashion. As usual thanks for keeping the feedback coming 👍 or 👎
Long
by ridethepig
4
ridethepig | GBPUSD Market Commentary 2020.07.20On the GBP side, all quiet on Brexit news with cable and EURGBP stuck within tight ranges defined last week. Here actively selling cable with the European close at 1.262x, risk is entering back into the picture via virus anxiety we will see USD better bid than it 'should' be. I suspect we will have BOE on the wires at some point later in the week talking down the moves and keeping things tight. Better outflows for GBP will start once Brexit enters back under the microscope. I still think the UK will receive another major hammer towards 1.15 and 1.10 along with consumers drowning via inflation. The strategy remains, continue to sell GBP on rallies as the dark storm clouds approach, tracking closely 1.262x resistance for sellers loading (we are here) and fading 0.908x lows in EURGBP. As usual thanks for keeping the feedback coming 👍 or 👎
Short
by ridethepig
1
EURUSD Sell 500 Pip Opportunity EURUSD still in a downwards channel at a very strong resistance area 1.1400 to 1.1450. Entry: 1. Pending sell at 1.14 with short stop loss above last high, or 2. Confirmation of up trend line break to the bottom with a daily bear candle closed under. Indicators: 1. Currency pair at a strong weekly pivotal point and resistance area. (Look Left Rule: Market has bounced off of this area for the past few years). 2. Main direction still downwards. 3. Weekly and Daily RSI overbought, bull exhausted. Take Profit Levels at past support areas Good luck trading! Charles V CVFX Management Trading made simple
Short
by cvfxwealth
GBPUSD 1.25634 +0.08 % LONG IDEA * STRUCTURE & TREND ANLSYS Good Day Everyone A look at the GBPUSD pair currently trading in a symmetrical triangle ranging in structure looking for the pair to range within the structure before we see some volatility on the pair this would be a perfect opportunity for more aggressive traders to find their entries on lower time-frames. looking for a break above of structure unless fundamental factors amongst other things prove otherwise targeting support level 1.28178 on a swing trade lets see how it goes... Good luck and happy trading everyone _________________________________________________________________________________________________________________________ ENTRY & SL - FOLLOW YOUR RULES ON PENDING ODER & SO FORTH RISK-MANAGEMENT PERIOD - SWING TRADE __________________________________________________________________________________________________________________________ If you like the idea kindly leave a like and a follow will definitely follow back and leave your idea & Comment on the pair in the comment section.
Long
by PULEMokhothu
ridethepig | EURGBP Market Commentary 2020.07.08📍 The following position comes after a temporary concession break of 0.90x strong support. After sellers came crumbs away the first time, buyers felt at liberty to allow the breach and trap more on the counterplay. The mysterious trap is coming and buyers wish to occupy the 0.90xx handle rather fast to rule out any cheap entries. At the right moment, we can double down on momentum as price develops . Let me say a few quick words about the birth of this position; it is closely linked to the GBP devaluation via Brexit and the history of protectionism positional plays... First there was the complete control of Downing Street and the Treasury, the "no-deal" hijacking was only possible from this populists. 📌 Then came the stratagem of a covid flank which rendered the first 1.15xx test, sellers could not breakdown without profit taking and loading a second barrel. Moreover, the GBP weakness can be played in the crosses: Admitting the damage of Brexit is worth considering for those still thinking this environment is +ve for GBP. The threat of negative rates would mark the official surrender. Thanks as usual for keeping the feedback coming 👍 or 👎
Long
by ridethepig
14