[GVI Forex 2]

USDJPY up

GBPUSD up
EURUSD up
AUDUSD

When / currencies move in opposite direction it says there are real money cross flows

[GVI Forex 2]

GBPUSD 4 HOUR – MARCHING FOR 1.30?

GBPUSD so far extending its high by one pip tp the “50” level (1.2950)

Should 1.2950 become support, expect a run towards 1.30

Major technical target remains at 1.3141 following the break of 1.2893

Downside contained as long as it trades above 1,29

Note GBP strength on its crosses as well

[GVI Forex 2]

Update

US 10 year 4.22% but no fx correlation

“50” level acting as a bias setter

JPY weaker on crosses => offsets may be weighing on USD elsewhere

Talk is that data suggests BoJ intervened yesterday

GBP is the outperformer

[Belgrade Bobby]

GBPCHF 4H

Kind of a strange choice of instrument for me – Yes, it has never crossed my mind to play with this cross 😀

But one of our new members brought it up to my attention, so I added some of my own recipe to it and Voila…

Robinson saw it on time and  together we are now bringing it up to your attention.

Supports at : 1.15350 , 1.15100 & 1.14950

Resistances at : 1.15550 , 1.15750 & 1.16200

We should start paying attention to it….

Thank you Robinson for this little gem 😀

[GVI Forex 2]

It is hard to make a case for the dollar as long as the US 10-year stays below 4.20%

Intra-day

EURUSD support 1.0868, keeps a bid while above 1.0850
GBPUSD support 1.2904 but 1.2893 is more important
USDJPY resistance 158.96 but 159.20 is more importqant

[GVI Forex 2]

GBPUSD WEEKLY – AMENDED

1.2860 is a breakout level on a daily chart but on a weekly chart the level is 1.2893. This is the level that blocks a run at 1.30 and above.

Needs to hold 1.2860 to keep a strong bid.

Supports: 1.2835-45-50, 1.2827 ahead of 1.28

Roll the dice next on US CPI.

 

[GVI Forex 2]

GBPUSD WEEKLY – Breakout?

Clear weekly trend

GBPUSD retracement proved to be a one day wonder.

1.2860 broken – breakout if it holds

Little on charts above 1.2860 until 1.3141 with 1.30 the key psychological target.

Supports: 1.2835-45-50, 1.2827 ahead of 1.28

 

Roll the dice next on US CPI.

[Robinson Izuchukwu]

<p style=”text-align: right;”>The GBPCHF I posted during the day was an amazing movement</p>

[GVI Forex 2]

GBPJPY DAILY CHART – ALL GREEN CANDLES

Look at this Chart as it speaks for itself.

As I have noted, when two currencies move in oppoitte directions like today (GBP up, JPY down), there is real money driving the moves.

Closest support is just below 205.

This also makes it difficult for the BoJ to intervene as it is more than just a USDJPY move.

[SF Monedge]

Had a brief call with someone I respect tremendously yesterday (Jay) regarding EurGbp.  My metrics show the pair remaining offered on buy cycles toward 8450/60 area for now.

On Crypto and the FED and Stablecoin – It is difficult to substantiate the thought that all crypto vehicles will be buried once the use of Stablecoin is established, but the ones that survive will be Bitcoin and a few that help the poor in poor countries, or offer something solidly unique and useful within realistic value of use.

A lot of talk from politicians regarding bank stability should a shock arise during the Powell testimony.  As I noted yesterday, major US banks recently roundingly passed stress tests and technology is improving.  The one issue concerning me is the effect of a major cyber attack should it occur and/or flat out war with the US and another major power(s), which one would think is unlikely unless some insane person gains access to terrible weaponry.  Otherwise the banking industry looks strong.

[GVI Forex 2]

GBPUSD DAILY CHART – EMBRACE THE RETRACE

The reality of trading is that trends often need a retracement, even a minot one before it can make a run at a new high (or low).

This seems to have been the case with GBPUSD, which still needs to Get through 1.2846 to challenege the key target at 1.2860.

Note EURUSD lag as EURGBP retreats further from .8460 tested yesterday (last .8428).

[GVI Forex 2]

The old adage: Duh! It’s the reaction to news that matters applies to the GBP pop on Pill’s comments.

1.2846 is this week’s high. 1.2860 is key chart resistance.

[GVI Forex 2]

GBPUSD spikes higher on BOE Pill’s comments… he sounded cautious over an August rate cut but didn’t  give any clear signal…thin market reaction but a reaction nonetheless

[Robinson Izuchukwu]

This is GBPCHF and it’s a bullish direction

Support at 1.14568

Resistance 1.16585

[GVI Forex 2]

GBPUSD 4 HOUR CHART – WATCH 1.28

Whatever orders were behind the GBPUSD retreat seem to have run their course (look at GBP crosses, including EURGBP which has backed off after .8460 resistance held).

Key levels:

1.2824, above puts the 1.2846 high in play

1.2779, below it extends the retracement

1.2800, sets the tone

[GVI Forex 2]

GBPUSD UPDATE – RETRACEMENTS?

Retracement levels
1.2756 = 38.2%
1.2729 – 50%

See our Fibonacci calculator

[GVI Forex 2]

EURGBP 1 HOUR – WEIGHING ON GBPUSD

Still below .8460 but helping to push GBPUSD below 1.28 while so far keeping EURUSD above 1.08.

[GVI Forex 2]

US yields still ticking up

4.316% +0.048

USD catching a bid

GBPUSD below 1.28, see if EURUSD can follow below 1,08 (still above it and Monday’s gap low)

USDJPY above 161.40

[GVI Forex 2]

GBPUSD UPDATE – BID WHILE ABOVE 1.28

Levels to watch: 1.2785-1.2797/00 -1.2846 -1.2860

[GVI Forex 2]

One of those Mondays…Here is my Power of 50 article as GBPUSD, EURUSD, AUDUSD and USDJPY all paused around or shy of respective 50 levels in what turned into a slow drip, paint drying session.

FWIW the softer GBPUSD tine appears toi be coning from EURGBP buying.