Tag Archives: GBP

Pound Hits Seven Year Low After Boris Johnson’s Brexit Decision

Peter Adamson

Ah, the joys of trading Forex. One man, not a major international figure mind you, just a mayor, makes a public statement, and twenty-eight billion pounds change hands. On Sunday afternoon Boris Johnson, mayor of London publicly stated that he would back the campaign for the UK to leave the European Union. On Sunday evening the pound opened 130 pips down relative to the dollar. As of this writing it has lost three cents. That is a little over two percent of its value. The GBP M1 money supply currently stands at about £1.46 trillion. On Friday that sum was worth $2.1 trillion. Now it is worth about $2.05 trillion and losing steadily. more…

GBPUSD Is Short On Rallies

Nenad Kerkez

After yesterday’s BOE Governor mr.Mark Carney comments where he stated there was no timetable for raising interest rates, GBPUSD fell heavily from POC as suggested on last Live webinar and in the FXstreet article where I suggested both 1.4225 and 1.4050 levels. The first rejection off 1.4225 made more than 100 pips to the upside but Carney’s comments made a huge drop in the exchange rate. In the midst of Chinese growth hitting 25y low we have concluded that BOE is unlikely to raise interest rates soon more…

GBPUSD : Downtrend Continuation

Gregor Horvat

GBPUSD has turned bearish in the last two weeks after only three wave bounce from 1.4893 to 1.5240 which was a corrective move; a zigzag. As such, we are bearish on GBPUSD and will expect more weakness after any pullback. At the moment trend is still down but wave 1 appears complete so be aware of a corrective bounce up into wave 2 that can be looking for a resistance near 1.5000 next week. more…

GBP/USD: Traders Take A Dark View Of Black Friday Sales

Matt Weller

Despite some permabears’ fears, the sun did indeed rise this morning and the world most certainly didn’t end after the first interest rate hike from the Federal Reserve in nearly a decade. As we noted in our instant analysis, the decision was far from the “dovish hike” that many traders had been expecting; for what it’s worth, the median FOMC policymaker still anticipates increasing interest rates four times, or at every other meeting next year, though Fed Funds futures traders are more skeptical, only pricing in a total of two rate hikes, to around 1.0% by end-2016. more…

Short-Term Trading Idea FX GBP/USD

Vladislav Antonov

Trading opportunities for currency pair: Draghi flipped the dollar pairs. Bull divergence has formed on the daily and there’s a hammer on the weekly. If the sellers don’t manage to make ground this week, the rate will shift back to 1.5310 as part of a correction. The target is 1.4560. There’s no avoiding the correction at the moment. The recoil must be used to open new short positions. Over the short term, make purchases, but don’t wade in with large volumes against the trend. more…