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The Carney trade has taken a turn

GBP was the worst performer last weekThe latest stretch of trading has been especially discouraging for sterling bulls. At a time when most currencies have taken a bite out of the US dollar, the pound has backed off.Last week, it was the worst performing G10 currency.
The Canadian dollar, meanwhile, found a way to the top of the chart despite a rough week for the risk trade.With GBP and CAD on opposite ends of the spectrum, we can't help but talk about former BOC Governor an current BOE Governor…
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EUR/GBP for 1 September

Chart Scale: Weekly, Monthly
Atr Monthly Chart: 329 Pips / 148 Pips
Indicator used: BB, CCI Histogram
Support Resitence 0.75534, 0.88667, 0.99114
Pair Analysis:
Eur is outperforming the GBP in the weekly as well as in the monthy Chart. Since 2015 before the Brexit Vote the Eur rises. Last year it was choppy and sideways. With the rumour of the ecb start tapering the euro has risend the past four month. I think the last High after the Brexit vote should be challened soon. The whole Momentum is no…
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sharpsense avatar

Eur/GBP grow the last 5 days, it is about 150 pips of my target. There should come a Little correction at some point

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GBP/USD for September 1

Chart Scale: Monthly / Weekly
Indicator Used: Bollinger Band, CCI,
Support/resistence: 1.3857 / 1.3452 / 1.2855 / 1.2777 / 1.1910
ATR Monthly / Weekly 237 Pips / 565 Pips
Pair Analysis:
On the monthly Chart Gbp/USD is in a big down trend, the move up from the lows at the end of 2016 looks corrective. CCI indicator has not yet succed to go over Zero which means the Gbp Sterling is still in downtrend. The weekly looks more bullish, but there is a big divergence between CCI and Price which means th…
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sharpsense avatar

The gbp move is very choppy still, there are always even after good news, bad news which make it diffiuclt for the gbp to grow

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Cable recovers from the dip to 1.2590

Cable had a pretty volatile week. It started with an outside down day on Monday. On Tuesday the pair fell more than a cent, after Carney uttered his "now is not time to raise rates". Then on Wednesday it snapped back after BOE dove Haldane revealed that he nearly voted for a hike.
Thursday was a sideways (accumulation?) day and the pair extended gains today, touching 1.274 shortly after London open. 1.265 - 1.27 should attract some buyers if this rally is to continue. 1.275 - 1.28 is where selle…
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GBP/USD

Technical Indicator Used:
horizontal/vertical lines
support/resistence lines
EMA 200 / 100
Bollinger Bands
Fundamentals: US is expected to hike rates /Gbp eased to fight against uncertainity of Brexit. Inflation rises and Carney may be forced to hike rates.
Weekly Chart:
Monthly Chart:
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Carney repeats that conditions not in place for a UK

BOE gov being grilled on some specifics
  • says his views expressed in his speech last week were his own
  • MPC and FPC not consulted prior
Similar line of questioning followed his famous Mansion House speech that sent rate hike expectations soaring, and indeed the poundGBPUSD falls again on the repeated remarks but demand into 1.4170 still. More behind that at 1.4150. EURGBP also in retreat on equity-led euro sales which is helping to provide a few cable bids.[list][/list]…
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More declines are on the table

Currency Pair:Eur/Gbp
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 0.7027
Trend:consolidation
Possible trading range:0.6750-0.7250
Signals: a bearish breakout (0.7020) from a consolidation channel and entering in an old consolidation area dating from 2003
Fundamentals: MArk Carney said that a rise in interest rates is possible around the end of the year. On the other side the ECB is still highly accommodative and this fact will weigh negatively on the euro in the n…
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marius24 avatar
marius24 10 Ago

update:a double bottom is very near to be completed on the daily chart ( neckline 0.7154), but  i don't have enough courage to enter in a bullish position as long as the FED is inching closer for its first rate hike in 10 years.

marius24 avatar
marius24 19 Ago

update: after having formed a perfect double bottom on the 4 hour chart the bulls capitulated and failed to push the price above 0.7160. After this episode the bullish outlook is increasingly fragile and further consolidation plus a bearish are on the table once again. Current price - 0.7045

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Cable jumps on hawkish remarks from MPC

Despite soft inflation report, hawkish remarks from Carney & Co. sent Cable more than 150 pips higher yesterday and it added another 20 pips overnight. It broke and is holding above Previous Week High (1.5628) ahead of the labour market report today at 8:30 GMT.
There appears to be some resistance at 1.5650 (late June / early July pivot, Weekly Resistance 1, 50's). 1.57 (Daily Resistance 1, 00's) may prove to be the next before stronger into 1.58 (June pivot, Weekly Resistance 2, 00's).
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BOE Inflation Report, Cable Analysis

Last time I've been spoken about Cable we where trading near 1.6260 support level and an important pivotal point and and that moment I was making the point that cable should rally from those levels back up, and it did, but you may be asking yourself what's next with cable? You can check out my blog post here: Clash of the Titans - BOE vs ECB
[list][/list]…
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EURopean Wrap: Carney quote causes carnage again

Forex trading headlines from the European morning session 27 September
BOE governor Carney says he does not see a case for further QE.
• UK Nationwide HPI september m/m +0.9% vs +0.5% exp +0.7% prev
• China state council says it will test interest rate reforms in Shanghai trade zone
• US Fed’s Evans says headwinds are adding to a weak economy
• Evans says Fed wasn’t quite ready to taper
• China SAFE says strong USD and US recovery will help exports
• French final Q2 GDP +0.5% as exp/prev
• Swiss…
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