[GVI Forex 2]

POLITICS:

There was little reaction to the debate fiasco although it may have election implications depending on how things play out.

EURUSD is ending the week with a bid despite the French vote, which suggests it may be discounted but has longer-term implications.

GBP ending the week on a softer note vs. the EUR although from what I hear, the spin on Thursday’s election is that a majority result for Labour is seen as a positive.

[GVI Forex 2]

EURUSD 1.0711

Now you see why I talk about month end fixing orrders

EURUSD ran up on EURGBP buying into the fixing

Lost the strong bid after fixing was over

Feel free to contact me if  you want me ti elaborate.

[GVI Forex 2]

EURGBP BUY ORDER AHEAD OF THE FIING

[GVI Forex 2]

EURGBP  4 HOUR CHART = PRE-ELECTION FLOWS

It is hard to say whether the move up in EURGBP is quarter end related or some position adjustments ahead of next week’s UK election.

If you are looking for a source of earlier EURUSD demand and the gBPUSD lag, look no further than EURGBP.

As this chart shows, the move up [aused below key resistance (.8478), allowing GBPUSD to play some catch-up. Upiside will be conyained if this level holds.

 

[GVI Forex 2]

GBPUSD 4 HOUR CHART – WINNING STREAK BROKEN

 

With the GBPUSD 9 candle winning streak broken after a failure to regain 1.27+, attention shifts to the 1.2621 low, but only if it can establish below 1.2669.

With that said, GBPUSD is a laggard as it gets support from various crosses, (EURGBP lower, GBPJPY higher).

This comes in the year of elections where the UK vote is so far not having much impact. Here is an article in this regard

How the UK election could make or break the pound’s run

[GVI Forex 2]

USDJPY 159.42

If you are looking for a level that will set the tone while within 159-160, keep an eye om 159.50

Otherwise, commodity currencies are currently the laggards with EUR, JPY and GBP the outperformers in that worder

 

[Belgrade Bobby]

GBPUSD Weekly

Supports at : 1.26200 , 1.25750 & 1.23550

Resistances at : 1.27500 , 1.28800 & 1.30500

Judging by the Pattern, we are in for some supports testing.

 

[GVI Forex 2]

GBPUSD DAILY CHART – TESTING 100 DAY MVA

 

 

GBPUSD failure to recover 1.27+ and break of 1.2680 leaves little on charts until around 1.25.

In the absence of nearby support, expect the most recent low to act as a key level.

Otherwise, downside is exposed as long as it trades below 1.2680-00, stronger if it stays below 1,.2650.

ALSO, watch the 100 day mva (yellow) has been tested and 200 day mav (blue) below it.

[GVI Forex 2]

USDCAD 4 HOUR CHART – CAD THE TOP PERFORMER

 

The CAD is the only majot up vs the dollar today, suggesting some cross flow order is behind the buying –

take yout pick

CADCHF, CADJPY, GBPCAD,

Otherwise, same chart I posted earlier with key support at 1.3662-80 needing tio hold to check the downside.

[GVI Forex 2]

GBPUSD 4 HOUR CHART – PAUSES ABOVE SUPPORT

 

 

It still amazes me how uncanny The Amazing Traders can be with its chart levels and this chart shows the 1.2756 level what I posted much earlier.

Note how GBPUSD paused above 1.2656 and after a period of going sideways, has given up and staged a bounce.

The Amazing Trader

[GVI Forex 2]

EURUSD is still down on the day but getting support from some crosses… EURGBP, EURCHF

[GVI Forex 2]

GBPUSD 4 HOUR CHART – WAITING FOR THE BOE

 

 

As we wait for the Bank of England decision, I pointed out minor and key levels on the chart.

When the dust settles after the decision, 1.27 will likely set its intra-day tone.

[The Amazing Trader]

GBPUSD 4 HOUR CHART – WAITING FOR BOE

 

 

GBPUSD finding a bid ahead of the BOE rate decision on Thursday.

While rising red AT lines off the low indicate a potential change in direction, 1.2763 would need to be decisively taken out to confirm

[GVI Forex 2]

USDX 4 HOUR CHART – EURUSD PROXY (57.6% OF THE INDEX

 

 

Let’s start the day by looking at the USD INdex, where momentum has TILTED to the downside.

However, using USDX as a EURUSD proxy suggests EURUSD would need to extablish above 1.0750 (AND THEN 1.0760-65) to Put pressure on the USDX downside where 105.14 is THE FIRST LEVEL OF support.

 

OTHER CURRENCIES VS. THE DOLLAR

AUDUSD BID BUT HELD A TEST OF .6675 – SCROLL DOWN TO SEE CHART

USDJPY HIGH YESTERDAY WAS 2 PIPS BELOW THE KEY 158.25 HIGH

EURUSD CAN’T MAKE UP ITS MIND. BUT FINDS SUYPPORT WHILE ABOVE 1.0720.. RANGE WIDENED TO A PALTRY 1.0725-1.0742 (WON’T LAST)

EURGBP A TOUCH LOWER WAITING FOR THE BOE TOMORROW

US holiday clearly dampening trading activity

[GVI Forex 2]

SAFE HAVENS ON FLIGHT FROM THE EURO

USD (EURUSD)

GBP (EURGBP)

CHF (EURCHF)

JPY (EURJPY)

[GVI Forex 2]

GBPUSD 4 HOUR CHATRT – FIBO TIME

 

 

With key supports not close, suggest looking at retracement levels here as well.

So far, it has paused around the 50% FIBO at 1.2774 (low 1.2772)

See our Fibonacci calculator for a useful tool

[GVI Forex 2]

GBPUSD DAILY CHART BLAT OFF

Similar to others, it was a rocket ship reaction to US CPI miss.

Chart shows major level at 1.2893 and needing toi stay above 1,28 for a bid, stronger if 1.2822 becomes support.

[GVI Forex 2]

look at EUR crosses for a clue… a further dip in EURGBP is creating a tug-of-war between EURUSD and GBPUSD

[GVI Forex 2]

EURGBP WEEKLY CHART -MIND THE GAP HERE AS WELL

 

 

THIS IS A GOOD CROSS TO USE AS AN INDICATOIR OF EUR STRENGTH IN WEAKNESS, CURRENTLY THE LATTER AFTER THE GAP LOWER OPENING. –GAP is from .8490-.8371
‘
With next key supports noit until the .83xxs, use .8450 as a focal point wiuthin .84-85 and a move above .85 WOULD BE needed to suggest cooling concenrs.

[GVI Forex 2]

GBPUSD 4 HOUR CHART – CONSOLIDATION

GBPUSD is trading softer with pressure coming out of its crosses (note firmer EURGBP, softer GBPJPY)_

Howeever, Tt is consolidating as well after last weel’s pause above the key 1.2674 level. This is the level that woould need to be broken to confirm the 1.28 faiure and that the high is in for now.

Aboce 1.2674 it is consolidating.