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Sterlingdollar

Can GBP outperform dollar and other majors in coming weeks? Brexit drama continues but GBP has been less volatile in recent days. Traders are not buying hawkish Bank of England due to uncertainty prevailing around Brexit saga. When many banks are turning dovish and FED is not raising rates further, Bank Of England remain cautious hawk. Mr Carney has hinted strong series of rate hikes in the event of smooth Brexit. That helped British Pound to remain resilient in the face of Brexit uncertainty and will help to rise in coming weeks. From a technical perspective, Inverse head and shoulder is forming on weekly charts, which if manage to break neckline has resistance around 1.35(weekly 200sma), 1.38, 1.40 and ultimately 2018 high(1.43 region)
Long
by Bitbloxx
Sterling swirling down the drain - UK continues to crumbleIgnoring Brexit and the fundamental rollercoaster madness completely I took it upon my self today to chart out one of my favourite assets to roll long term on - Cable AKA GBPUSD. From a technical standpoint what I am looking for is a proper solid retest of historical lows - I am not of the mind that GBP is going to die, or the UK disappear..... However I do believe that no matter WHAT the politics no matter what the fundamental law changes that may be - GBPUSD WANTS to test the low for a real period. This is my own trade, my own opinion and my own thoughts. So please do not take it as direct investment advice - instead comment/like/share your ideas and maybe lets talk about it, always something new to learn. For now I have a tiny tiny risk set up on this big long term trade. Time horizon of at least 3-6 months I feel, if I get lucky it will be less :) *Butters crumpets and loads on half a jar of apricot jam* Good hunting to all and best of luck as always. XOXO MysticCrypto
Short
by UnknownUnicorn4504015
Brexit Vote Could Lead to Potential Upside BreakoutMuch of the trading is focused on ranges as opposed to breakout with follow through potential. Moreover, while technicals are quite insightful to herd psychology, the fundamentals will be driving markets going forward in the next 24 to 48 hours ahead of us. This includes assets mostly affected by ongoing themes, such as the pound (GBPUSD) which has primarily been driven by Brexit. Luckily for those looking for a less choppy trading environment, traders will have significant clarity given to it with the upcoming votes in the House of Commons which will see if Theresa May can exchange her position as prime minister in exchange for other conservative members to vote for her bill that they had already rejected twice. Given reports that members of her party who were once against the bill may be for it like former Foreign Secretary Boris Johnson, the chances of a no deal Brexit have swung wildly in the other direction away possible hard accidental no deal Brexit towards a potential deal. But if this is not passed, then it is difficult to see Parliament agree upon any deal that the EU would be okay with. In spite of this, most analysts believe that a deal will be done even if the House of Commons does not pass May’s deal. Either way, GBPUSD has priced in a deal and volatility has significantly stalled. For a few more words on the matter and EURUSD, check out anthonylaurence.wordpress.com
by WhiskeyTangoFoxtrot3
The UK Won’t Sign the Divorce Papers, Pound Will SufferAn April 12th deadline is now looming above the heads of Europeans and the British as the UK find themselves situated as the estranged husband who refuses to sign the divorce papers. Right now there are six main scenarios: 1)Revoking Article 50 and cancelling Brexit 2)Another referendum 3)May’s deal plus a customs union 4)May’s deal plus both a customs union and single market access 5)A Canadian-style free trade agreement 6)Leaving the EU without a deal Beyond these six main scenarios, there are subplots being played out primarily including the 1 million person strong march over the weekend and most scandalously the claims that some members of May’s government are making a play against May to become Prime Minister. Meanwhile with the pound against the dollar, the currency pair endured the dreaded ‘death cross’ last week where the 50 day moving average crossed over the 200 day moving average indicating a technical signal for a downtrend. Overall, daily technicals like moving averages suggest we are trending up. This is the case. However, this currency pair HAS NOT priced in the chance of a no deal Brexit. This will be to the detriment of traders just looking at technicals despite how important they may be. For more analysis please check out www.anthonylaurence.wordpress.com
by WhiskeyTangoFoxtrot3
Do key levels even matter with the Sterling?With so much uncertainty surrounding Brexit, do key technical levels still have relevance on the Cable? The short answer is yes as major news is usually priced in before any major reports are actually released (ever hear of "buy the rumor, sell the news?"). However, it is still critical to pay attention and stay up to date on any major releases; the market can turn on a dime on unexpected outcomes. Last weeks dollar weakness is probably an indication of whats to be expected from the major US economic reports this week. The Sterling's recent resurgence is largely on the back of Brexit optimism. I think its important to emphasize this concept: There is a premium to pay for certainty and safety! The 1.325 zone is the one to watch here. A clear rejection @ or below this zone is a good sell opportunity, with a profit target around the 1.27 zone. If there's conviction above this level, bullish sentiment should kick in and form a higher high. A price target for an upside move is more murky as there's two resistance zones (1.34 and 1.353) to over come before a big leg up. Personally, until this pair can convincingly break above the 1.325 zone, I'm staying bearish on this pair and taking a wait and see approach.
by en1gm9t-c
GBP/USD bullishInteresting move today for the cable which is already up 1.14% at the end of the week. Market is now expecting a soft brexit rather than no deal brexit. Technically the pair is gaining bullish momentum since it broke above the 200day SMA at 1.318 and will likely close above it weekly. Also, it broke a descending trend line shown on the chart which shows a bullish continuation for the near term. Next potential target is 1.326 (Oct 12 high) , 1.33 psychological mark and Sep 20 high, 1.332 (38.2 Fibo) and 1.346 (June 13 high). Trade safe.
Long
by RamziAbouAbdallah-CMT
GBPUSDHello my friends, As you saw my last pound analyse you can remember that we just reach our first long target and after a forming a bearish wedge,dropped,Till now all things was natural and look like it is time to short it again,but when you look at chart more accurate can see we have an IH&S in chart.look at it: It man if we can break neckline,we can easily break this channel and reach to targets like 1.321 ,easy.In other hand we have bullish reversal in RSI and Bullish crossover in MACD,in 4H, too.All of these can say to us that this time is different,but if we can't break neckline(or black dotted line),it can be a sign for another short trade to 1.294,as first target. I will update this idea as soon as i find new sign. Good Luck Peyman A
by Peymana71
GBPUSD bottoming (US trade deal matters less than soft Brexit)The British pound remains in a downtrend for now- but appears to be transitioning to a sideways range from 1.305 to 1.335 Fundamentally what Trump says about a US trade deal (GBP negative) matters less than improved chance of a soft Brexit from new UK gov whitepaper (GBP positive) Scenario A) Downtrend pauses -- Price rebounds from 1.305-1.31 support zone to target 1.33 resistance Scenario B) Downtrend resumes - Price breaks 1.305 (June low) to target 1.28 (Aug '17 low)
Long
by jasperlawler
Wait for the pullback to short Cable Cable has been in a long-term down trend for 10 years, it never recovered from the highs of the 2008 crash up @2.1 (those were great New York and Chicago shopping trips), we had a 50% fib pullback into 1.7, continuing the downtrend to 1.6 by the end of 2017, Cable was already falling before Brexit. Since 2017 we've been in an uptrend within the boundaries of an ascending channel and now we're in a pullback, but have broken out of that channel after the Jan - April double top, bouncing at previous support @1.3065. The next moves are critical, do we continue the downtrend and retest 1.6 or break 1.34565 and move up to 1.4 and beyond. We don't know the future, we never will. But Brexit and probabilities are high for a continuous move down, after a reasonable attempt at moving higher towards 1.345. I won't be buying this pair unless I see a very strong move higher on a daily, 4H and 1H timeframe and one that holds support with strength, so I remain long-term bearish. I'm looking to sell below 1.345 and holding long-term down towards 1.5, I may also hold larger swing trades to capitalise on the inside moves.
Short
by CBMotivation
GBP / USD - Sell traps for Cable - SHORT Over the next few day's we have various reports coming out for this pair, and we have the Brexit negotiations going on which, will almost certainly have a negative impact on Sterling. Interestingly, both economies are performing well when viewed through the prism of reporting metrics but compared with the US$, Sterling is still going to be the underdog, but while the DXY is moving sideways gathering strength to break 94, the Pound may pull ahead for a short while, falling into our sell traps, unless of course Tues 5th US PMI's come up strong, in which case we could be going straight to the Profit zone. We're currently rising on the weekly trend line and we have two sell traps above to be a Bear on this pair. The first and I think primary sell zone is just above 1.35 and below the 200 days EMA and a previous Point of Control, there will be a great deal of resistance at this zone unless various metrics are sufficient to blast straight through to sell zone number two, between 1.36 - 1.37.
Short
by CBMotivation
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