[GVI Forex 2]

GBPUSD 1 HOUR CHART – Shows the post-UK CPI price action

Chart says it all

[GVI Forex 2]

GBPUSD DAILY CHART – SLAMMED ON WEAKER CPI

BREAK OF 1,.30 IS SIFGNIFICANT IF IT HOLDS WITH A VOID ON DAILY CHART UNTIL BELOW 1.28

Key now is if 1.30 becomes resistance….intra-day resistance 1.3015-30-50.

[GVI Forex 2]

GBP down on CPI miss (lower than expected)

[GVI Forex 2]

Bobby’s earlier GBPUSD post, called the risk dead on… (note GBPUSD just tested 1.31000, EURUSD lagging as EURGBP tests intra-day low again)

Probability of the next move is slowly shifting to the Upper side.

Time wise, this wave should be over, and fact that it spent last 4 days in a very narrow range with higher lows every day is signalling an attempt to break Up.

[GVI Forex 2]

EURGBP 4 HOUR CHART – TUG-OF-WAR

One flow keeping GBPUSD above 1.30 and EURUSD below 1.0950-00 is EURGBP, which has resumed its retreat.

Key support though is not until .8300-18

Would need to renew .8350 to slow the risk

As I have noted, if trading EURUSD and/or GBPUSD keep an eye on this cross as it can give a clue to flow impacting both currencies.

[Belgrade Bobby]

GBPUSD Daily

Supports : 1.30350 , 1.30150 & 1.29650

Resistances : 1.30900 , 1.31050 & 1.31350

Right now 1.31050 serves as a pivotal : above Bullish , below Bearish.

Probability of the next move is slowly shifting to the Upper side.

Time wise, this wave should be over, and fact that it spent last 4 days in a very narrow range with higher lows every day is signalling an attempt to break Up.

[Mtl JP]

some look at (trade?) the eurgbp

EURO 1.0897

below 100+ pips – like a ripping sound and scream of a brazillian wax

[GVI Forex 2]

GBPUSD is being held up by its crosses, (e.g. EURGBP weaker), GBPJPY (firmer).

I prefer to look at EURGBP when trading EURUSD or GBPUSD.

[GVI Forex 2]

GBPUSD 15 MINUTE CHART – POST DATA CANDLE

Post-US data candle 1.3015-1.3088, low would need to be taken out to expose key 1.30 support

Upside limited unless it gets back above 1.3050-65.

[Belgrade Bobby]

GBPUSD Daily

Supports : 1.30550 , 1.30050 & 1.29400

Resistances : 1.31050 , 1.31250 & 1.31750

It should reach 1.29400, but it is stalling last 3 days – same as EURUSD.

So as long as below 1.31200 test of that channel line below should occur.

 

[GVI Forex 2]

I am note sure why brokers publish net client positions but here is a snapshot of current positions at a top broker

EURUSD 51% LONG
USDJPY 56% SHORT
GBPUSD 51% SHORT
USDCAD 57% SHORT
AUDUSD 57% LONG

[GVI Forex 2]

EURGBP 4 HOUR CHART – REVERSAL OIF FORTUNE

Retreat from .8404 helping to give GBPUSD a bid while EURUSD lags after a tepid attempt at 1.10, on a reversal of the price action seen yesterday.

With key support at .8349, .8350-00 seems more like a no man’s land so watch this cross as it is influencing EURUSD and GBPUSD.

[SF Monedge]

Very strong probabilities that Chinese stocks rally very strongly in the Asian session due to curbs being lifted in mainland China.  Hong Kong stocks made significant gains pre-China open.  Risk appetite has transferred a bit into Eur and Gbp.  Buy cycle in those pairs is at critical levels (which are mid-point in a lot of algorithm cycles) so a bit of a pivotal spot for strong gains or a pause.  If the risk continues to transfer they should keep running up.

[GVI Forex 2]

GBPJPY 1 HOUR CHART – ANOTHER WEIGHT ON GBPUSD

Sharp retreat but still above key support.

[Belgrade Bobby]

GBPUSD 4H

Resistances : 1.30950 , 1.31150 & 1.31350

Supports : 1.30600 , 1.30050 & 1.29350

Very Bearish on 4h – EURGBP driving it lower – Watch for EURUSD stalling below 1.10

[GVI Forex 2]

So, let’s look at the Power of the 50 level

EURUSD overnight low 1.0951, then a higher low at 1.0954… last 1.0980

GBPUSD low 1.3059… last 1.3084

[GVI Forex 2]

GBPUSD DAILY CHART – 1.30 ON THE RADAR?

(Note EURGBP extending its intra-day high- scroll below to see EURGBP updates and keep an eye on this cross)

Given the void to 1.30 look for 1.3050 to be pivotal as to whether there will be a run at that level… low so far 1.3059

From our Weekly FX Chart Outlook

GBPUSD lagged EURUSD to close the week as EURGBP retreated so watch this cross of trading GBPUSD and EURUSD.

GBPUSD now dependent of 1.30 holding to stem the down move with key mvas lying below it.

On the upside, key level is not until 1.3305 so expect a limited upside unless 1.32+ is renewed.

[GVI Forex 2]

Hint: If you trade EURUSD and/or GBPUSD, you need to keep an eye on EURGBP

EURGBP is at the high for the day. GBPUSD has slipped, EURUSD has barely moved.

EURGBP 1 HOUR CHART – testing resistance

[GVI Forex 2]

Hint: If you trade EURUSD and/or GBPUSD, you need to keep an eye on EURGBP

EURGBP is at the high for the day. GBPUSD has slipped, EURUSD has barely moved.

[GVI Forex 2]

EURGBP target hit

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