GBPUSD Countertrend Play Jun 30, 2017
The ascending channel on Cable’s daily time frame is still intact and price is heading towards the resistance around 1.3400. A countertrend opportunity could arise if reversal candlesticks form around this area.
BOE
GBPUSD BOE Holds Policy, Focus Turns To Key US Data
Following the recent improvement in UK data, the Bank of England was widely expected to sound a little more upbeat about the economic outlook with virtually no one forecasting any further easing of monetary policy.
GBPUSD Support Turned Resistance Aug 10, 2016
GBPUSD is pulling up from its recent slide and looks ready to test the nearby resistance levels. Applying the Fib tool on the latest swing high and low on the 1-hour chart shows that the 38.2% retracement level lines up with a broken support zone around the 1.3100 major psychological mark, which might now hold as resistance.
Cable Waits For BOE
Cable anticipating BOE by going precisely nowhere! All we can say is 1.5550 region represents strong support & is also where have the 200 ma.
EURGBP Descending Channel July 13, 2015
EURGBP is still on a downtrend but the pair is currently testing the top of the descending channel visible on its 4-hour time frame. If resistance around the top of the channel or .7200 holds, the pair could move back to the bottom at .7000 or lower.
GBPNZD Ascending Triangle (May 21, 2015)
GBPUSD has been forming higher lows and finding resistance at the 2.1200 to 2.1300 levels, creating an ascending triangle pattern on its 1-hour chart.
Cable In Focus As We Await BOE
Market focus this morning returns to the more mundane, namely the BOE inflation report and press conference with Gov Mark Carney, and it will be interesting to see whether Cable can continue to build on its recent platform of support in the 1.5 region.
GBPUSD Major Correction – Jan 12
GBPUSD is showing signs of a pullback, as price previously found support near the 1.5000 major psychological level. Using the Fibonacci retracement tool on the latest swing high and low on the 4-hour time frame indicates that the 61.8% Fibonacci level lines up with a former support zone.
Currency futures round up after FOMC
With the FOMC meeting now consigned to history, and the currency markets now returning to ‘business as usual’ here is a round up for the Aussie, the British pound, the Canadian dollar and of course the euro
Bank of England Announced interest rates to Remain on hold
Bank of England (BOE) left key interest rates at 0.5% along with no additional changes in its asset purchasing program of at £375 billion or $636 billion USD.