[GVI Forex 2]

You saw me point out EURGBP moving higher and how it created a tug-of-wat between EURUSD and GBPUSD,

If you want me to elaborate how to use crosses to trade spot fx, contact me using the Contact button in the upper menu bar.
‘

[GVI Forex 2]

As I noted last night, nothing goes straight up forever so stocks seeing some profit-taking should not be a surprise.

No top yet in EURGBP, EURUSD soft but lagging aa GBPUSD slides in what is still a tug of war.

Otherwise, dollar is firmer, including USDJPY despite the risk off tone.

[GVI Forex 2]

Once EURGBP finds a top, EURUSD risks losing its cross bid keeping it above 1.06

[GVI Forex 2]

As I noited, watched EURGBP (firmer), creating a tug-of-war between EURUSDD and GBPUSD

[GVI Forex 2]

GBPUSD DAILY CHART – Below 1.28

Chart is pretty clear

1.2798 => 1.2564 => 1/2611

[GVI Forex 2]

GBPUSD 1.2798 is the key level, a firm break would open a void until 1.2611-64… makes 1.28 the pivotal level…GBPUSD selling pressure is also coming from a firmer EURGBP (8 15 min green candles in a row) will post a chart later

[GVI Forex 2]

NEWSQUAWK US OPEN’

Equities on the backfoot; USD continues to advance &  Bunds are bid post-ZEW

Good morning USA traders, hope your day is off to a great start! Here are the top 4 things you need to know for today’s market.

4 Things You Need to Know

Equities are on the backfoot; the RTY underperforms, paring some of the Trump-induced strength in the prior session.

Dollar continues to advance higher, GBP on the backfoot following mixed jobs data which saw an uptick in unemployment but wages remain sticky.

Bonds are mixed, USTs are flat ahead of several Fed speakers whilst Bunds are bid after poor German ZEW figures.

Crude holds an upward bias, XAU/base metals are pressured by the stronger Dollar; BTC pulls back from a USD 89k handle.

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[GVI Forex 2]

Pivotal levels to watch

EURUSD threatening 1.0600
GBPUSD tested 1.28 (low 1.2792)
XAUUSD trading below 2600
BTCUSD paused just below 90K
US500 trading back below 6000

[Belgrade Bobby]

GBPUSD Daily

Supports : 1.28550 , 1.28350 & 1.27950

Resistances : 1.28950 , 1.29200 & 1.29500

Pressure building to the Down side.

Only above 1.30500 we can talk about Up.

[GVI Forex 2]

Good finish for the dollar but…

EURUSD found support again below 1.07, with a higher low

AUDUSD found support just below .6562 support (cited earlier)

EURGBP tested just below .8295, thus the GBPUSD lag

USDJPY did not join the buy USD party although it bounced from a 152.14 double bottom

US500 traded above 6000, watch the close vs. this pivotal target

‘

[GVI Forex 2]

Only major up vs the USD is the JPY, AUDJPY is the biggest loser

EURGBP sliding towards .8300, pressuring EURUSD

US500 edging closer to 6000

[GVI Forex 2]

GBP backing off (vs. EUR as well) ahead of the BOE rate decision (up next)

[GVI Forex 2]

Biggest losers in this order

USDJPY
EURUSD
USDCHF
GBPUSD, AUDUSD, NZDUSD ALL ABOUT TIED

[GVI Forex 2]

EURGBP 4 HOUR CHART – KEY SUPPORT LOOMS

EURGBP slicing through supports like Swiss cheese as the EUR is seen as vulnerable to Trump tariffs.

Key support is at the .8294 low

Only back aboive .8350-55 would deflect the risk

[GVI Forex 2]

Bobby, you have been pointing out the upside risk on GBPUSD… take a look at the yield snapshot, which may be a reason why GBPUSD is holding a bid * and vs EUR a well)

Note commodity currencies, led by the AUD (and NZD) are outperforming.

[Belgrade Bobby]

GBPUSD Daily

Supports : 1.29450 , 1.29050 & 1.28450

Resistances : 1.30000, 1.30450 & 1.31050

Cable is in the sideways from 15.10. with some up and downticks.

Waiting for two major outcomes : US Election ( today) and FOMC ( Thursday ).

If we put aside that influence , strictly chart wise, a Pattern is forming for another Uptrend Episode.

Breaks of given supports/resistances won’t mean anything if it won’t be followed by few days of continuation !

Sit on your fingers ( use them to hold a coffee cup ) and wait for the outcomes.

 

[SF Monedge]

EurChf could pull up from here.  The problem is it would run contrary to EurGbp selling fro 8420 as well as its correlation to stocks.  So perhaps a good hedge (buy one sell the other) and cut the loser when clear.

[GVI Forex 2]

EURUSD 1 HOUR – MIND THE GAP

Double top so far at 1.0906 (1.09 likely to set the pre-election tone)

Opening week gap to 1.0833

Back below 1.0869 would put the gap in play, provides support while above it

Above 1.0906 would expose 1.0917-53

Price action more likely the result of pre-US election position adjustments as it is hard to see big bets given the uncertain outcome.

[GVI Forex 2]

GBPUSD 1 HOUR – MIND THE GAP

Failure so far to regain 1.30

Opening week gap to 1.2919

Back below 1.2948 would put the gap in play, above it keeps a bid

Above 1.30 would expose the 1.3043 high.

Price action more likely the result of pre-US election position adjustments as it is hard to see big bets given the uncertain outcome.

[GVI Forex 2]

Opening week gaps (Friday closing price – opening price

EURUSD
GBPUSD
uSDJPY
AUDUSD

Note Friday closing price may wary depending on the broker