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GBPUSD 1h – Intraday
Supports : 1.25250, 1.24950 & 1.24600
Resistances : 1.25450, 1.25850 & 1.26200
If it wants to test previous high in next couple of hours, Cable has to close this hour above 1.25250
Loss of that support doesn’t mean change of trend – as long as above 1.24950 it is going to push Up towards 1.26, but with a delay.
GBPUSD DAILY CHART – Not on the hit list
Outside week
GBP benefiting from not being on the US tariff hit list and so far ignoring an expected 25bps rate cut tomorrow by the BOE.
To keep a strong bid, needs to stay above 1.2500-23
Chart shows resistance at 1.2575-1.2610 but 1. 2550 is likely to be pivotal if it makez a run at it or slips back towards 1.25.
Using my platform as a HEATMAP shows
Tariffs -> Gaps => USD up, stocks down, bond yields down s
Those currencies of countries most affected, directly or indirectly, by Trump’s tariffs hit the hardest (red arrows)
JPY the outperformer, GBP second (weaker but not as much as EUR) as UK seems not to be on the tariff hit list
Watch for headlines as Trudeau (Canada) and Sheinbaum (Mexico) are due to speak with Trump today. Note tariffs go into effect on Tuesday.
EURGBP 4 HOIUR CHARTT – MONTH END
I have observed EURGBP being one of the more active flows at month end. So, keep an eye on this cross, not only by itself but its influence of EURUSD and GBPUSD, especially ahead of the 4PM London fix.
Charts show the retreat from a failure to reach .85 only sees minor support within .83-.84 so look for .8350 to be pivotal.
Note, looking ahead, the BOE is expected to cut rates by 25bps next week.
The time is exactly 2pm Nigerian time and gbp/usd is looking good. Th market has just consolidated for a buy at price 1.2437 and a rise (buy) is expected. If you look at the hourly chart you will see the last 2 candles standing next to each other. They buy candle which is the latest candle closes where the prior candle opened.
This needs to be studied in technical Analysis (price Action) to be precise. Where candles open and closes to a large extent determines where next the market is going. In this case, a new candle opens at price 1.24372. This is a continuation of the former candle which was a buy candle.
So i wil be buying gbp/usd at 2pm for a little upward movement and i will exit at price 1.24450. A few pips at a time is good trading. Don’t over elverage your Account and keep good money management skills of about 2-5% of your total Account.
Thanks,
TOPNINE.A good mornign to you guys from the capital city of Africa, Nigeria. This is 9:30AM and market is looking beautiful. I am on the EUR/GBP chart and market is about to break long (buy). Market was in a sideways range all yesterday before breaking short early this morning to the price area of 0.8362 Price then rose to the price of 0.8372 as we speak now, but if you look at the 15′ chart candle of the same pair eur/gbp, you will see an almost perfectly paired candles standing next to each other.
The prior bearish candle and the just formed bull candle on the 15′ chart are of same height and length. This signals a continuation of the just formed candle which is a buy in this case. So market will continue to go upwards but for a while. From the present price at 0.8372 i see a pull up to the area of price 0.8375 where I hope to exit the market.
It is not much but a little profit is good, just be consistent and don’t over leverage your Account.
Thanks,
TOPNINE.GBP/JPY AT EXACTLY 5:30PM NIGERIAN TIME SHOWS A DOWNWARD SLOPE BIAS. THERE WAS A DESCENDING GAP WHICH I TOOK ADVANTAGE OF FOR A FEW PIPS. MARKET PRICE WAS AT 192.37 AS AT THEN THEN I WENT IN FOR A FEW PIPS, WITH THE PLAN TO EXIT AT PRICE 152.25
THIS IS A GOOD MONDAY EVENING TO TRADE THE MARKET AS MARKET IS TRENDING BEAUTIFULLY. I HOPE TO CATCH A FEW PIPS HERE BEFORE MARKET RETRACES AND GOES THE OTHER WAY.
