Category Archives: GBP/USD

Honey, I Shrunk The Euro

Ville Vainio

EUR/USD had a massive decline at the end of the week and the bears seems to be in charge here. The decline went trough the support area around 1.1145 and kept going. This decline is in line with the wave count which has been expecting powerful decline for some time now. Although this decline is still a 3 wave structure, the larger wave structure is supporting the view that we have started the next phase in dollar strength. more…

GBPUSD Trading Near Resistance; Downtrend Continuation May Be Near

Gregor Horvat

Pound has moved higher last week, more than we anticipated but still with potential corrective structure. We see three legs from the lows with wave (c) now trading near resistance. Usually corrections of second waves will retrace for nearly 50-61.8% compared to previous five wave move which in our case is very near so bearish turn may follow in sessions ahead. At the same time we also see cable at resistance of the previous swing low from Sep 16th. Technically speaking bears can cause a turning point soon, but downtrend continuation will be confirmed only when price goes beneath 1.5244. more…

GBP/USD: Bulls Get A Day In The Sun On M&A Speculation, Economic Data

Matt Weller

The big news in global markets Wednesday was Anheuser-Busch InBev’s higher buyout offer to SABMiller. After the British-domiciled SABMiller turned down offers of £38 and £40 per share earlier, AB InBev raised its latest proposal to £42.15/share for a total value of $104B. If accepted and approved by anti-trust regulators (a big risk to any potential merger), the deal would create an international behemoth responsible for about one-third of global beer supply. more…

GBPUSD Is Bullish Above 1.5620

Nenad Kerkez

GBPUSD has been trading inside an equidistant channel which supports the uptrend zig zag. The price has been making higher highs and higher lows which is showing us a scholastic example of uptrend. At 78.6 fib – deeper retracement there is a strong confluence with equidistant channel lower trend line so the price might get a bounce in the zone ( 1.5670-85 ) and try another push toward 1.5740 and 1.5780. That being said if the price gets H4 close above cam H4 level ( 1.5780 ) it will target 1.5855 the confluence spot of H5 and upper equidistant channel. more…

GBPUSD Correcting Before Final Wave

Ville Vainio

GBPUSD is dropping lower and approaching the 23,6% fibonacci retracement level. I have forecasted this correction to bottom on this level but it can go lower. After this correction has found its bottom, I am looking for one more wave up before larger corrective decline.

June 19, 2015 @ 9:50 am – GBPUSD has come down a little. I see this as minuette wave 4 correction which has more to go on the downside. Perhaps 23,6% retracement level is enough for this to bottom and turn back up and continue the uptrend for the final 5th wave. more…

GBP/USD Seems Bullish, Targeting 1.6000

Gregor Horvat

GBP/USD broke above May 14th high so looks like that rally since start of June is going to be impulsive. On the updated count we are looking at wave (C) that can rally up to around 1.6000 psychological level in days ahead. But nothing will move in straight line so traders must be aware of a short-term retracement back in wave 4 in the next few sessions, before uptrend will resume. Invalidation level is at 1.5444; as long it will hold trend is up. more…

Cable Could Be Eyeing Towards New Low

Gregor Horvat

Pound made deep and unexpected bounce in the last few weeks but recovery is still in three waves. In fact, we have seen some bearish turn in the last two weeks from highlighted Fibonacci levels. So if we consider that big trend is still down from last year highs, then we should be prepared on more weakness in days ahead, possibly back to the lows. However, it’s not a bad thing to focus on minimum expectations, which in our case means a fall to 1.5070. This is now very close, so a decisive break through that low, will also open door for 1.45 once again. more…