Tag Archives: GBP

EUR/GBP Potential Upside Move

Nenad Kerkez

The EUR/GBP is has a potential to break the range and proceed to the upside if we see a rejection off POC. POC comes within 0.8510-15 zone ( V shape, DPP, EMA89, trend line). If we don’t see a retracement to POC , pay attention to H1 close above descending trend line. The pair could reach 0.8550, 0.8575 and 0.8615 if there is a H1 momentum or 4h close above 0.8575. Additionally the pair rejected slightly above the bullish order block that is located just above L3 support. This further supports a bullish bias for this pair. more…

Elliott Wave Analysis On AUDNZD And EURGBP

Gregor Horvat

For those who cannot stay aside during the elections I recommend to look for non USD pairs, as they can be less volatile. Below I am looking at AUDNZD that I would be looking to trade, but after the elections results. Chart shows a clear pattern; five waves up from 1.0235, followed by a contra-trend reaction that can either be finished at recent low, or maybe support will be found near the 1.0350-1.0400 area by the end of the week. The price action is bullish and it suggests more gains while market is above the 1.0235 mark. more…

GBP/USD Watch For 1.2225-50 Zone

Nenad Kerkez

The GBP/USD is still sold on rallies as analysed in our previous analysis. Today First Brexit hearing begins in the UK High Court and there could be some whipsaw movements in the currency pair. From technical perspective POC zone comes within 1.2225-50 and the zone is a bit wider due to high ATR. The pair is contained within the equidistant channel and we can spot a confluence of channel top, H3 and bearish order block. If the pair retraces to the zone we might see a rejection towards 1.2150 and 1.2090. Only a 4h close below 1.2090 could tank the pair lower to sub 1.2000 level 1.1990 where we see a confluence of H5 and channel bottom. However if the pair gets above 1.2300 we might see a breakout towards 1.2355 that will be a sign of a deeper retracement in the GBP/USD pair. more…

GBP/USD: After The Flash Crash, What Will NFP Do To Cable?

Fawad Razaqzada

Besides form the obvious question of what the actual hell happened to sterling overnight, there are so many other questions marks participants will be asking themselves. Has the pound now bottomed out, what exactly was the overnight “low,” what will the Bank of England do now? The pound’s crash has obviously overshadowed today’s supposed big event: the US non-farm payrolls report. This is scheduled for release shortly and the headline jobs report is expected to come in at around 170 thousand net jobs gained, which, if correct, would be slightly higher than the prior month’s total of 151 thousand. The unemployment rate is expected to have remained unchanged at 4.9% while the average hourly earnings index is seen rising 0.2% month-over-month. A strong set of data would reinforce expectations that the Fed will raise rates in December. more…

EUR/GBP Is Forming Reverse Bearish Divergence

Nenad Kerkez

The EUR/GBP is coming closer to important resistance and the price is forming reverse bearish divergence. As we can see on our daily chart, the price has formed bearish pinbar so it might reject off the zone and start retracement move. The possibility that the price might reject off 0.8855 zone towards H4 and H3 camarilla pivots gets even more pronounced if we see double top( or chart pattern close to double top). However if the price retraces to POC ( EMA89,61.8,bullish order block) within 0.8760-70 zone we might see another trend trading opportunity towards 0.8850 again. Have in mind that divergence is not confirmed until we see a double top-ish price. If it doesnt happen In the case the price proceeds further above the high, 0.8900 could be tested short term. more…

EUR/GBP Bearish Pennant For Fresh Shorts

Nenad Kerkez

The EUR/GBP has formed a bearish pennant at resistance and this might be the time to watch for short trading opportunities. 0.8400-20 is the zone for shorts – POC, H4 camarilla PP is making a confluence with the upper pennant trend line and the price might reject 0.8340 and 0.8295. If we see a strong momentum below 0.8295 or 4h close below it then 0.8240 is the final target. At this point traders should be focused on POC rejections towards 0.8340 first as we can spot a support there (pennant lower trend line, L3). more…

GBP/JPY The Dragon Is Flying High

Nenad Kerkez

The GBP/JPY aka “the Dragon” has a strong correlation with equities. Last night Japan, HK and Australian markets went up due to commodities prices up, abenomics in Japan, and follow through risk-on due to US Equities performing strongly overnight. Nikkei was probably the best performer as it has been up 1200pts in 3 days. more…