Tag Archives: GBP

GBP/USD Progressive Bearish Channel Formed

Nenad Kerkez

The GBP/USD has rejected perfectly from 1.3440 as seen in my Session Recap webinar analysis of the German election impact and made a U-turn continuing with a bearish progressive channel zigzag. 1.3435-55 is the first POC zone (D L1,W L3 order block 38.2) and 1.3470-85 is the POC2 (D H3, EMA89, 50.0). Both zones could reject the price towards 1.3400 and 1.3379. Break of daily low at 1.3363 could move the price to 1.3353 and below we might expect a breakout towards the 1.3318-00 zone. more…

GBPUSD: BOE Decision Important Levels

Nenad Kerkez

The Bank of England MPC decision is due at 11 PM GMT. Market is expecting that policymakers leave interest rates at 0.25 %. But what traders and investors should be focused at is how many of policymakers will vote for a hike and how many will be against the hike. Technically the GBP/USD is in uptrend but that can easily change after today’s data and MPC official bank rate votes. 1.3270-85 is the important zone (W H3, D H4, ATR projection high) and the price could reject from the zone once the zone is hit. If the price proceeds above the zone 1.3330-1.3365 more…

GBPUSD: More Upside

Daud Bhatti

GBPUSD Short Term Elliott Wave view suggests that the rally from 8/24 low is unfolding as an impulse Elliott Wave structure. Up from 8/24 low (1.2773), Minor wave 1 ended at 1.2979 and Minor wave 2 ended at 1.2851. Minor wave 3 is in progress and the subdivision is unfolding as an impulse Elliott Wave structure. Minute wave ((i)) of 3 ended at 1.2947, Minute wave ((ii)) of 3 ended at 1.2907, Minute wave ((iii)) of 3 ended at 1.3082 and Minute wave ((iv)) of 3 ended at 1.303. Minute wave more…

GBPJPY: Ending Correction

Daud Bhatti

GBPJPY Short Term Elliott Wave suggests that the decline to 8/23 low at 139.27 ended Minor wave W. Minor wave X bounce is currently unfolding as a double three Elliott Wave Structure. Minute wave ((w)) of X ended at 141.47, Minute wave ((x)) of X ended at 139.98, and Minute wave ((y)) of X is subdivided into a FLAT. Minutte wave (a) of ((y)) ended at 141.09 and Minutte wave (b) of ((y)) ended at 140.39. Minute wave ((y)) of X has now reached 1.236 extension of ((w))-((x)) and thus the cycle from 8/23 low (139.27) is mature. Sellers may appear anytime from 142.65 – 143.49 area for an extension lower or at least a 3 waves pullback. We don’t like buying the pair. more…

GBPUSD Weekly L3 And D H4 Confluence In Downtrend

Nenad Kerkez

The GBP/USD broke below 1.2020, the weekly L3 level, thus turning the support into a resistance. After a short breakout that I showed on live trading webinar yesterday, the pair started to retrace towards the POC zone 1.2830-50 (Order block, ATR high, trend line, D H5, EMA89). The price could reject there towards the 1.2880 and 1.2770. Only a break below 1.2768 could spur additional weakness in the pair towards 1.2740 zone. The market is calm at this point but the increased volatility is expected during the 2017 Economic Symposium, “Fostering a Dynamic Global Economy”, which will take place Aug. 24-26, 2017 at Jackson Hole, WY. more…

GBP/JPY MACD Divergence At Monthly Support

Nenad Kerkez

The GBP/JPY has made a temporary bottom at 141.25 and we can see MACD divergence that could push the price to the upside.141.25-50 is the zone where price might spike towards the 142.60-85 where new sellers might be waiting. Only a clear 4h close or h1 momentum above 142.90 should target 143.40. Bearish continuation happens only below 140.90, but at this point, the GBP/JPY is supported by Monthly and Weekly supports and bullish MACD divergence. more…

Elliott Wave Analysis: GBPJPY and USDJPY

Grega Horvat

GBPJPY is making a five-wave bearish structure within blue wave c as part of a three-wave consolidation. We see current intra-day structure unfolding an overlapping movement, which can mean a potential ending diagonal within red wave v) of c can be in progress. If that is the case, then once current red wave v) fully unfolds a sharp and strong reversal to the upside can come in play. more…

Ending Diagonal On GBPUSD Indicates A Strong Reversal; Bears May Take Over

Grega Horvat

On the 4h chart of GBPUSD we are observing final stages of an ending diagonal where final leg up can be now in progress. We are tracking wave C) after nice turn up from wave B) support levels, found near 1.2800. So far, that’s clearly an impulsive reaction up, a very strong one, so we should be aware of even higher levels at the start of the week. There is a chance that market will rise to second resistance area seen at 1.3200/1.3250. more…

GBP/NZD Close To The Top Of The Equidistant Channel

Nenad Kerkez

The GBP/NZD has formed a bearish equidistant channel, but recent news gave the push in bullish momentum and the price might reverse. The zone to watch is 0.7560-80 (Channel top, ATR high, EMA89, D H4). Traders should watch for any reversal or continuation patterns within the POC zones. A bullish continuation pattern within the zone might push the price further towards the D H5 at 0.7653 while a bearish reversal pattern could drop the price towards D H3 and L3 – 0.7490 and 0.7370. The GBP/NZD is a very volatile pair and because the price is already at its extremes we might see a short term rejection from the POC soon and that could provide some short term trading opportunities. more…