The GBP/JPY is technically setting up for a push downwards on the short term. Price has found resistance at a confluence area between the 150.00 and the 150.25 price levels (highlighted in grey) [see m15 chart]. A break below the near-term support at the 149.700 zone (highlighted in sky-blue) would further consolidate this bearish momentum.
Posted on: November 8, 2017
After strong selloff on the GBP/USD following the release of better-than- expected growth data from the US last week, the Cable is currently seen recovering from this massive dip on Monday morning. Technically from the shorter-term 15-minute chart price has hit a former support zone at the 1.3150 – 1.317410 area (highlighted in pink).
15-minute (m15) GBP/USD Chart
Bulls are advised to cautiously wait for price to break above this region and look to take profit at the 1.32750 zone (highlighted in yellow). Stop loss can be placed at 1.31250 and the 1.3100 zones for aggressive and conservative bulls respectively.
Alternatively , resistance at the former-support zone can most likely indicated continuation of the bearish momentum.
Posted on: October 30, 2017
With a very quiet Monday as regards economic events, GBP/USD is currently resisting price off a downward trendline [see m15 chart]. Trading bias is shorting whilst placing stop above the long -wicked candlestick printed at the 1.32263 zone looking to take profit at the near-term support zone at 1.31290 price level (highlighted in sky blue). (more…)
Posted on: October 23, 2017
Price has been caught trading in a range for the past 1 month. Currently price has found support at the support zone of the range (highlighted in grey). Traders can look to go long on the short term with stop order placed at the 131.650 level looking to take profit at the 133.00 zone (highlighted in gold) for a 1:1 risk reward ratio. (more…)
Posted on: October 18, 2017
Last week we saw EUR/GBP hit a very signifcant level at the 0.90326 where it found resistance. Sellers have somewhat taking a liking for this level as there are several times priced has been rejected there. Last Thursday was no expection as a long-wicked bearsish candlestick was printed off this level on the Daily chart ( see fig 1).
Posted on: October 16, 2017
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