|Day's Range||136.22 - 137.35|
|52 Week Range||126.6550 - 149.4750|
The British pound skyrocketed during the week on trade hopes involving the Brexit situation. As we are starting to see signs of progress in those negotiations. However, we have not seen a true decision made, so a lot of this could be a simple short covering.
The British pound rocketed higher during the trading session on Friday, as the hoped-for Brexit being worked out is reaching a fever pitch. Having said that, the market is still fragile in the sense that this is probably more short covering than anything else, and could turn around at the drop of a dime. If there is some type of negative headline out there, it’s likely that the pair will fall apart.
The British pound initially pulled back during the trading session on Thursday but then turned around to crash into the top of several candlesticks from earlier in the week. That being said, it’s very likely that the markets will find some resistance.
The British pound initially rallied during the trading session on Wednesday but has ran into a significant amount of resistance at the ¥132 level yet again. Ultimately, this is a market that has been struggling overall, and therefore the fact that we have given back most of the gains should not be a huge surprise.
The British pound initially tried to rally during the week but then broke down to reach towards the ¥131.50 level. At this point, the market looks as if it is it is ready to continue the overall downtrend.
The British pound drifted a little bit lower during the trading session on Friday, as the Japanese yen continues to strengthen against it. With that being the case, it shows that there’s more of a “risk off” feel to this market currently.
The British pound has gone back and forth during the trading session on Thursday, initially dipping below the ¥132 level, before turning around to reach towards the 50 day EMA.
The Fourth Quarter has started in a traditionally volatile mode. Equities are down, Government Bonds and Gold are in demand and in the Forex market it is the Japanese Yen that is benefitting the most. What does the 20-day simple moving average tell us?
Risk aversion is dominating financial markets today after disappointing data from the United States and gloomy outlook from the World Trade Organization (WTO) spooked investors and reinforced concern over decelerating global growth.
The British pound has seen a lot of volatility as of late, as the pair is dancing around the 50 day EMA. This is a market that of course is highly risk sensitive, and it is worth noting that the British pound has been soft against the US dollar as well during the trading session.
The British pound bounced slightly during the trading session on Monday as traders came back to work from the weekend. The market is currently testing a technical indicator, so it will be interesting to see whether or not it will pay attention to it.
The British pound broke down during the week, breaking below the bottom of a shooting star from the previous weekly candle stick, which of course has a certain amount of influence on where we go next. Ultimately, this is a market that should continue to see a lot of volatility.
The British pound initially dropped during the trading session on Friday but then found enough support underneath the 50 day EMA to turn around and show signs of life. This is rather important, but quite frankly there is a ton of resistance above that will continue to play a major factor in this market as well.
The British pound has gone back and forth during the trading session on Thursday as we continue to see a lot of global concerns and back and forth when it comes to risk appetite in general. This is a pair that tends to be very sensitive to risk appetite, so keep in mind that headlines will throw this market around.
The British pound bounced a bit during the trading session on Tuesday against the Japanese yen as Boris Johnson suffered a defeat in the courts, opening up the UK Parliament for work yet again. At this point, this in theory should bring the odds of a “no deal Brexit” down a bit.
The British pound initially tried to rally during the day on Monday but then rolled over pretty significantly that show further weakness against the Japanese yen in a bit of a “risk off” move.
The British pound initially gapped lower after a reactive move to the Saudi drone attacks, as there were a lot of concerns about the global economy. Most of the week the market turned around to rally, but as we close out it looks like exhaustion is setting in.
The British pound initially tried to rally but fell against the Japanese yen. The ¥135 level has caused a significant amount of resistance, and with the technical confluence in this area, it’s likely that the market will run into a significant amount of trouble.
The British pound pulled back slightly during the trading session on Thursday, as the market had reached the crucial ¥135 level. With that in mind it makes sense that we will see a significant pullback from this area at the first hint of trouble.
The British pound has continued to hover around the ¥135 level ahead of the FOMC Meeting, interest rate decision, and of course the statement. With that being said though, there is a lot of noise just above that I am paying attention to.
The British pound did very little during the trading session on Tuesday, as we continue to hang about where we gapped down to on Monday. With that in mind, it is somewhat impressive but at the end of the day we are overbought.
The British pound rallied significantly during the week against the Japanese yen, reaching towards the ¥135 level. That of course should attract a lot of attention as it is an area of extreme order flow.
The GBP/JPY pair has rallied during the trading session on Friday to reach towards the crucial ¥135 level. This is an area that coincides with a lot of different moving pieces, so at this point the question is can we continue?
The British pound went back and forth during the trading session on Thursday, as we are starting to get a bit exhausted. However, you can also make a compelling argument for the fact that we have seen support as well. Ultimately, the trading this market is about being very patient.