[GVI Forex 2]

By contrast, UK flash manufacturing PMI 52.5 vs 52/1 (unch) expected

GBPUSD spikes up, EURGBP dip below .8500

[GVI Forex 2]

GBPUSD WEEKLY CHART – MAJOR LEVEL LOOMS

In a critical area with the 2023 high at 1.3141 looming above.

This makes Wednesday’s high at 1.3120 as it guards exposing this major high.

Intra-day support is at 1.3080.

On the downside, back below 1.3040-50 would be needed to cool the risk.

[GVI Forex 2]

Shall I repeat if you trade EURUSD or GBPUSD, keep an eye on EURGBP.

Currently, EURGBP is trading at .8519 vs. its earlier high at .8543

GBPUSD is better bid (tested 1.3050) while EURUSD has backed off from 1.1130 (last at 1.1113)

So once GB{USD met resistance, offsets took over and pushed EURUSD lower => Using crosses to trade SpotFX 101

New ball game shortly when jobs revisions come out.

[GVI Forex 2]

JP, If I told you that there was a large order in the market to buy EUR and sell GBP would you be looking to sell EURUSD and buy GBPUSD, do the opposite or step aside as the order gets executed?

How You Can Use Currency Crosses to Trade Spot Forex

 

[Mtl JP]

Jay 8:50 / I think I see all I need (including especially sentiment and bias) in my simple (but multi-timeframe) chart charts in their aggregate.

How is that eur-gbp pratico-practically used in real-time trading of the eurdlr?
tia

[GVI Forex 2]

EURUSD leading (res 1.1135-50) while GBPUSD lagging after early run through stops and then quick retreat?

Why?

Look at a EURGBP chart

EURGBP 1 HOUR CHART

 

[GVI Forex 2]

GBPUSD 15 MINUTE CHGART – STOP HUNT

One oif my favorite sayings is…

The forex market lives to run stops.

Look at this GBPUSD chart to see what I mean.

Note the break of 1.3044 tested the “:50” level.

Only back below 1,30 would ease the risk though.

[GVI Forex 2]

UPDATE: USD EXTENDING LOWS (EXCEPT USDCAD)

EURUSD trying to establish 1.1100+ for a run at 1,1135-60 after downside pause above 1.1092.

USDJPY breaking its overnight 145,84 low, 145.18 was Monday’s low. exposed if break holds. Equities opening a touch lower.

GBPUSD 1.3044 high still looms above

[GVI Forex 2]

GBPUSD trying to establish 1.30+ (last at 1.3010) for a run at 1.3044. Keep in mind that 1.3050 lies just above it.

[GVI Forex 2]

GBPUSD DAILY CHART – Key levels are clear

UP 7 out of 8 days coming into today but needs to establish 1.30+ to make a run at the 1.3044 high

So key levels are clear: 1.30 and 1.3044

On the downside, intra-day support 1.2972, key level is at 1.2937-40

[GVI Forex 2]

EURGBP 4 HOUR – BOUNCE FROM .8500

Whatever order flow that was driving EURGBP lower has apparently been filled and this has seen a bounce from just above .8500.

This has helped give EURUSD a bid after lagging due to selling in this cross.

Currently testing .8530, a break above would end the latest leg down.

Trendline is the key level above it.

[GVI Forex 2]

WEEKLY FX CHART OUTLOOK EURUSD, USDJPY, GBPUSD, USDCAD, AUDUSD

[GVI Forex 2]

EURUSD is following with a lag due to a weaker EURGBP.  Otherwise USD is ending the week on the defensive as weaker tone is spreading.

[GVI Forex 2]

EURGBP 4 HOUR CHART – Real money flow

As you can see by this chart, while we are not privy to the order flow, there is clearly a real money selling driving this cross lower.

ON the downside, .8500 is the obvious pivotal level with next chart support at .8478. Back Above .8531-50 would be needed to suggest the order is done.

In any case, EURGBP selling has been a contributing factor to the firmer GBPUSD and EURUSD lag.

[GVI Forex 2]

GBPUSD DAILY CHART –  OUTPERFORMING

GBPUSD is again outperforming, helped by demand from a further fall in EURGBP so keep an eye on this cross.

Daily chart shows only 1.2937 blocking the 1.4044 high

Intra-day, look for support as long as it trades above 1.2866-72, stronger if 1.2884-88 becomes support

[GVI Forex 2]

Scroll down to Bobby’s directional calls in GBPUSD and EURUSD

[GVI Forex 2]

Scroll down to Bobby’s directional calls in GBPUSD and EURUSD

[GVI Forex 2]

Scroll down to Bobby’s directional calls in GBPUSD and EURUSD

[SF Monedge]

EurGbp 8530 is a critical area

[Belgrade Bobby]

GBPUSD Daily

Supports : 1.28150 , 1.27750 & 1.26650

Resistances : 1.28750 , 1.29400 & 1.30450

Close tonight above 1.28250 would call for another leg Up tomorrow.