[GVI Forex 2]

SF, it is stocks setting the risk off mood.. last 141.32

Note EURGBP up… GBPUSD down… EURUSD lagging but weak…still holding above 1.10

[GVI Forex 2]

EURGBP 15 MINUTE CHART – HOW TO USE CROSSES TO TRADE SPOT FOREX
Note how EURUSD lost the bid (last at 1.1020) after EURGBP met resistance (at the blue AT line)

[GVI Forex 2]

FWIW A firmer EURGBP is so far keeping EURUSD from breaking 1.1026.

GBPUSD weighed down by a firmer EURGBP and weaker GBPJPY but still above its 1.3057 intra-day low.

[Belgrade Bobby]

GBPUSD Daily

Resistances : 1.31450 , 1.31700 & 1.32000

Supports : 1.30750 , 1.30450 & 1.29700

Cable started it’s nose dive Friday and continued today.

Now as long as it stays below 1.30900 we’ll see it lower.

[GVI Forex 2]

GBPUSD testing 1.3087 again … Here are retracement levels for 1.2664-1.3266 using our Fibonacci Calculator

[GVI Forex 2]

GBPUSD DAILY CHART – Support tested

Today’s low 1.3087

As posted in out Weekly FX Chart Outlook

The failure to hold above it and retest the high suggests a lack of power but only a break of 1.3087 would suggest more to the downside. Above 1.3087 it is still in a consolidation mode.

[Belgrade Bobby]

GBPUSD Daily

Supports : 1.31600 , 1.31200 & 1.30850

Resistances : 1.31950 , 1.32450 & 1.32650

To be able to continue Up, it has to stay above 1.31500.

What I don’t like with this picture is the fact that Cable tends to go in the deeper corrections after such a Rally.

Playing on the Top is never an easy game – so avoid making big conclusions right now – this is 50:50 situation.

I am going to go on a limb now and say it clearly : I expect Cable to nose dive from around here .

But what I expect or want is not necessarily what will happen.

[GVI Forex 2]

EURUSD 4 HOUR CHART – LEVELS TO WATCH

AS THIS CHART SHOWS:

1.1120-40-90-1.1201

(1.1100 is pivotal) – 1.1075-1.1040

(Note GBPUSD dip just now as EURUSD popped higher)

[GVI Forex 2]

Long wait until the US jobs report

Some pivotal levels to watch

EURUSD 1.1140 (1.11 is pivotal)
USDJzPY 141.68 (142 will be pivotal)
GBPUSD 1.32 is also pivotal
AUDUSD .6750 is also pivotal

By pivotal I mean will eventually set the tone and bias to trade.

[GVI Forex 2]

Risk off continues, mixed ISM PMI and its components

Oil still cratering

EURUSD up on bounce in EURGBP (but below 1.1065) and GBPUSD slipping

USJPY down, commodity currencies down

Have I said enough other than it i start of post-summer trading

addendum… EURUSD now joining in

[GVI Forex 2]

EURGBP 4 HOUR CHART – Downtrend consolidating

EURGBP, while consolidating between .8398-.8435, is lower today and this has weighed on the EURUSD (but still holding above 1.1030) while GBPUSD has followed with a lag.

So, if trading EURUSD and/or GBPUSD, keep an eye on this cross.

[GVI Forex 2]

FWIW it looks like some EURGBP (month end?) buying is giving some support (also by holding above 1.1050) to EURUSD.

I find this cross tends to be active at month end… keep an eye on the 4 PM London fixing

[GVI Forex 2]

As I type GBPUSD just ran stops beoiw 1.3144-45…USD up elsewhere as well

[GVI Forex 2]

Maybe those still short USD from earlier in the week were hoping for a PCE down surprise to hekp bail them out.
‘
Whatever the case, EURUSD is still above 1.1050 and GBPUSD above but closer to that 1.3144 level.

[GVI Forex 2]

Just for the forum archives:;

GBPUSD low was 1.3145 vs my earlier post

key support is the former 1.3144 2024 high/breakout level.

[GVI Forex 2]

EURUSD busts through 1.1071, so just a pause, typical of a liquidating market … note EURGBP is lower, so far keeping GBPUSD above 1.3144

[GVI Forex 2]

Liquidating market update – Suggests a pause

EURUSD holding 1.1071 (triple bottom)

GBPUSD came close but so far staying above 1.3144

USDJPY so far staying below 145.50

As noted in the article,

Liquidating markets will eventually exhaust themselves and finally reach a bottom, either by a key technical level holding or by the selling just running out of steam.

[GVI Forex 2]

USD taking on a bid post-data with bond yieldS up (10 year 3.867%) even though data was a non-event.

GBPUSD extending its low, key support is the former 1.3144 2024 high/breakout level.

USDJPY trading 145+

EURUSD so far holding above 1.1071, getting some support from a bounce in EURGBP

[Belgrade Bobby]

GBPUSD 4H

Resistances : 1.31900, 1.32050  &  1.32300

Supports : 1.31200, 1.31000 & 1.30100

Correction unfolding into full scale one .

1.31000 is a very important Support that might decide is this going to be a few days downtrend, or even few weeks.

As long as above it, previous ( and a new one ) high is within the reach.

Below it can open a can of worms…

[Belgrade Bobby]

GBPUSD hourly Update

Now 1.31900 will serve as a resistance and pivotal point