Category Archives: GBP/USD

GBP/USD Bullish Cup With Handle Formation

Nenad Kerkez

The GBP/USD has formed a cup with handle pattern on H1 timeframe, suggesting further upside. W H4 camarilla is acting as support as the price broke above it, and it forms a clear handle at the brim of a cup. 1.2480 might spike the price to the upside, targeting D H3 H4 and H5 levels respectively, -1.2516, 1.2538, and 1.2580. If the price breaks below the handle, look for possible POC (D L3, double bottom, ATR pivot) 1.2425-45 rejection. more…

GBP/USD Might Be Targeting 1.2550 Short Term

Nenad Kerkez

As we could see on previous Session Recap webinar, the GBP/USD perfectly rejected from POC and provided more than 120 possible pips. Another bullish sign that wee see today is Bullish SHS pattern ( Inverted Head and Shoulders) that might provide a continuation to the upside targeting 1.2550. However Retail Sales data might move the price today. On a worse than expected result the pair might drop to POC (Ema 89, ATR pivot, D L4) 1.2430-50 and then it might spike. On a better than expected data look for continuation above 1.2516 towards 1.2550 D H5/ W H4 confluence. more…

GBP/USD At Key Level Ahead Of UK Budget

Fawad Razaqzada

The general consensus going into today’s UK budget is that Chancellor Philip Hammond will disappoint and that the GBP/USD may extend its declines towards 1.20. He is well aware of Brexit risks and may thus predict a more turbulent economic outlook. The risk therefore is if he expresses more optimism about the economy and delivers more fiscal spending plans than expected. If that’s the case, the GBP/USD could easily rebound. It is worth pointing out that those who had sold the pair, may cover their positions now, triggering a short-squeeze or relief rally on the cable. There’s some important US economic data coming up as well, so there is even more reason why the sellers may bank profit. more…

GBP/USD Master Candle Marks Trend Continuation

Nenad Kerkez

As I showed on Session Recap webinar, the GBP/USD has been in a steady uptrend that was almost interrupted by a stop grabber candle that was initiated after bad GBP/USD data yesterday. At this time we can see a Master Candle (MC) formed and a breakout above 1.2518 should spike the price towards 1.2560 and eventually 1.2600 zone. If a MC breaks lower below 1.2474 then it should retrace to POC zone 1.2435-50 where we might see a bounce towards 1.2515 and above. At this point the GBP/USD is still bullish and watch for a possible trend continuation. more…

GBP/USD POC Zone Is 1.2250-75

Nenad Kerkez

The spike that was caused after Theresa May’s conference was successfully faded as we predicted in the previous GBP/USD coverage. However it has been clear that 1.2250 is very important support and that it needs to break for further bearish continuation. However if GBP/USD keeps above 1.2250-75 (Bullish order block, H3 weekly camarilla, 50.0 fib, EMA89) we might see an extension towards 1.2412 and 1.2480. 1.2300 is support now and the break of support might retest the POC zone. However if 1.2250 breaks to the downside we might see 1.2200 followed by 1.2150. more…

PRE FOMC Analysis: GBP/USD Is Close To Support

Nenad Kerkez

The main event this month is FOMC Economic projection with statement and Federal Funds Rate decision. Market expects a hike of 0.25 % (from 0.50% to 0.75%). Any deviation from expected result will move the USD heavily. Today’s GBP data was better than expected with Average Earnings Index coming +0.2 % better than expected while the change in the number of people claiming unemployment-related benefits during the previous month dropped to 2.4k. more…

Pound Bruised But Not Broken (Again)

Fawad Razaqzada

The pound has fallen sharply over the past couple of days. It has been among (if not) the worst performer in G10 currencies. As well as uncertainty over how and when the Brexit process will start, the pound has been undermined by weakness in UK data as industrial production in October suffered its worst month since 2012. The currency’s latest drop is not exactly gigantic, but it does represent a sizeable retracement against the recent gains made amid hopes of a ‘soft’ Brexit. I do however think the worst of the selling is over as the Bank of England is no longer looking to cut interest rates again. But it nevertheless remains vulnerable to sharp falls here and there. However against weaker currencies like the Japanese yen, it may be able to stage a comeback soon. more…

Pound Bruised But Not Broken (Again)

Fawad Razaqzada

The pound has fallen sharply over the past couple of days. It has been among (if not) the worst performer in G10 currencies. As well as uncertainty over how and when the Brexit process will start, the pound has been undermined by weakness in UK data as industrial production in October suffered its worst month since 2012. The currency’s latest drop is not exactly gigantic, but it does represent a sizeable retracement against the recent gains made amid hopes of a ‘soft’ Brexit. I do however think the worst of the selling is over as the Bank of England is no longer looking to cut interest rates again. But it nevertheless remains vulnerable to sharp falls here and there. However against weaker currencies like the Japanese yen, it may be able to stage a comeback soon. more…