|Day's Range||133.9 - 134.27|
|52 Week Range||133.9000 - 149.7070|
The British pound fell a bit during the trading session on Wednesday, but then turned around to rally a bit. It looks as if breaking below the ¥135 level could kick off a bigger move though.
The British pound broke down during the trading session on Tuesday, slicing through the vital ¥135 level. This is an area that of course has a certain amount of psychological importance to it and has offered support in the past. At this point, it looks like we could wipe out the entire move.
The rising threat of a no-deal Brexit has made the British Pound the worst performing G10 currency today with the GBPUSD tumbling to levels not seen in 27 months – below 1.2420.
The British pound gapped lower to kick off the week, turned around to rally through that gap, and then fell again. Ultimately, this is a market that shows extreme weakness, as we are pressing major support just below.
The British pound went back and forth during the course of the week, showing a bit of a neutral candle. At this point, the ¥135 level underneath is support, as it is psychologically important. However, all things being equal it’s obvious that the market is trying to find a bottom.
The British pound has found a little bit of support during the trading session early on Monday, as the ¥135 level continues offer support. If that’s going to be the case we could get a bounce back into the consolidation over the last couple of weeks.
The British pound fell rather hard during the week, reaching down towards the ¥135 level before bouncing slightly. However, we have broken the back of a couple of hammers on the weekly chart and that does suggest certain things.
The British pound has been rather negative against the Japanese yen during the last several weeks, but it did stabilize a bit during the trading session on Friday after the jobs report in America came out better than anticipated. Perhaps this is the beginning of more of a “risk on” type of move?
The British pound was stable against the Japanese yen during the trading session on Thursday, as we had very little in the way of liquidity due to the Independence Day holiday in the United States.
The British pound has dropped a bit during the trading session on Wednesday, reaching down to a vital round figure. However, we are starting to see an attempt to bounce from here.
The British pound went back and forth during the trading session on Tuesday, as we continue to grind sideways overall. This is a market that looks like it’s trying to build some type of base, but quite frankly it’s also very sensitive to risk, so that throws a lot of questions into the mix.
The British pound shot higher during the trading session on Monday, showing signs of bullish pressure right off the bat, but also has run into resistance later in the day. At this point, it looks as if the market is trying to figure out whether or not it can break out.
The British pound has formed a hammer for the weekly candle stick again, just as we did the previous week. It’s a bit counterintuitive, but perhaps it is due to the lack of Brexit headlines that we could see this market show signs of strength again.
The British pound rallied during the trading session on Thursday, reaching towards the ¥137 level. I do recognize that there is a lot of resistance above here as well though, so the question now is whether or not we can hang onto it.
The British pound bounced against the Japanese yen during trading on Wednesday, but we still remain in a very significant consolidation area for the British pound as we await some type of solution to the Brexit, something that isn’t going to happen anytime soon.
The British pound has gone back and forth against the Japanese yen during trading on Tuesday, breaking below the bottom of the shooting star from the Monday session. While this is a negative sign, the reality is that we are in consolidation more than anything else.
The British pound initially tried to rally during the trading session on Monday but gave back a bit of the gains in order to show signs of exhaustion yet again. Ultimately, this is a market that has been in a downtrend, so you should be looking for selling opportunities anyway.
The British pound has gone back and forth against the Japanese yen during the week, forming a bit of a neutral candle. However, we are below the 61.8% Fibonacci retracement level, which is a huge signal as far as I can tell.
The British pound initially tried to rally during the trading session on Friday, but the downward pressure continues. Looking at the chart, it looks as if the Japanese yen will continue to be one of the major gainers.
The British pound initially tried to rally during the trading session on Thursday but gave back quite a bit of the gains. This could be simply because it was a “risk on move”, followed by realization that we still have the Brexit going on.
The British pound initially fell during the trading session on Wednesday but turned around to show signs of life again as we have gotten a bit oversold. Ultimately, this is a market that does tend to move with risk appetite so it could be a volatile next couple of days.
The British pound continue to fall during the trading session on Tuesday, as we are very likely to reach towards the ¥135 level. At this point, this is a market that has been breaking down for some time and it’s showing no signs of slowing down.
The British pound rallied a bit during the trading session on Monday, but at this point the pair still looks a bit on the soft side. Overall, I believe that this market will probably continue to be very noisy, as there are a lot of economic concerns around the world.
The British pound struggled a bit during the trading week, as we continue to see a lot of nervousness in overall risk appetite. With that being the case, it makes sense that the Japanese yen would get a little bit of a rally.