|Day's Range||149.257 - 148.935|
|52 Week Range||149.25670 - 148.93477|
The British pound has fallen a bit during the week, but as you can see we have bounced from the uptrend line on the weekly chart. As you can see, I think that the market is ready to continue to go higher, and on a move above the 150 level, we may have something going.
Euro/Dollar’s short and long term indicators are mostly neutral, but the mid term shows mixed results. The close to 25% long interbank is bullish. The Cable has 6 neutrals in both the short and long terms.
The British pound has been grinding sideways against the Japanese yen over the last couple of days, but it does look as if it is a bit susceptible to downward pressure. As we hover around the 150 level, it’s likely that we will need to make a significant decision soon.
Japanese Yen. First of all, yes, when the stocks slide, JPY gets stronger and we all know that indices just had a hell of a ride. It is slowly happening, which is definitely a positive sign for the Yen.
The British pound has been pummeled during the week, especially on Friday. This was in reaction to a common coming out of a British negotiator with the European Union that they were still willing to walk away from a trade deal. Posturing or not, this pair had already been somewhat negative. Because of this, I think we may see a little bit more negativity, as we have now broken the back of the previous week.
The British pound initially fell against the Japanese yen during the week but found enough buying pressure to turn things around and form a very bullish looking candle. In fact, we have broken above the top of a shooting star from the previous week, so that’s a very good sign as well. Closing above the 155 doesn’t hurt either.
The British pound has rallied a bit during the trading session on Tuesday, as the 50% Fibonacci retracement level has offered enough support near the 152 level to cause a significant bounce. I believe that we are trying to rally even further, but we may need to clear even more resistance to be convinced.
The British pound initially tried to rally against the Japanese yen during the week, and even broke above the 155 handle. However, by the end of the week we formed a significant shooting star, showing serious trouble.
The British pound has rallied a bit during the week, but turned around to form a shooting star. This is an overly surprising though, because as we broke above the 153 handle, it was a very major barrier that we were overcoming.
The British pound initially fell significantly during the week, reaching towards the 150-handle underneath. That level looked very bullish in general, and that being the case it’s likely that the market continues to find plenty of interest underneath, and I think we will go higher.
The British pound rallied significantly after gapping higher at the open of the week against the Japanese yen. We have cleared the vital 153 level, which is a very bullish sign, and could send this market much higher.
The British pound shot much higher against the Japanese yen during the trading session on Thursday, reaching towards the 153 level, which is a massive signal just waiting to happen.
The British pound fell significantly against the Japanese yen initially on Tuesday, but it appears that the 152 level is starting to offer enough support to suggest that the buyers are returning. A break above the 152.25 level would be a very bullish sign indeed. Keep in mind that this pair is highly sensitive to risk appetite.
The British pound rallied slightly during the week, testing the 152.50 level. However, there is bigger fish to fry out there, so given enough time I think that we will make a significant move. Currently, this looks like a market ready to explode.
Neutral models prevail on Euro/Dollar’s hourly chart, but the 4 and 24-hour scales turn bullish with 6 and 7 studies, respectively, and they are in line with the more than 16% long interbank. There’s green across the table for the Pound/Dollar, which sees 6 bullish models in the short-term, 7 in the mid-term and 5 in the long-term, but, in contrast, the interbank is neutral at less than 8% short. Dollar/Yen sees 7 sell prompts on both its short and mid-term charts and 4 neutral signals on its long-term scale, but the technicals are not supported by the interbank, which is bullish at more than 19% long.
The British pound has been very choppy during the trading session on Thursday, as volume wasn’t very large. The market looks like it is ready to consolidate in the short term, but longer-term I am optimistic.
The U.S. Dollar is about to finish 2017 with its worst performance against a basket of major currencies in 14 years despite three rate hikes by the U.S. Federal Reserve and expectations for at least three more in 2018.
The British pound rallied again against the Japanese yen during the week, showing signs of strength. The market looks likely to be bullish overall, but we have a significant resistance just above.
The British pound has done very little during the trading session on Friday, as we continue to suffer a lack of volume. Longer-term, I believe that the markets will go higher, but in the meantime, it’s going to be difficult.
The 24-hour scale is mostly bullish, but the interbank is neutral at less than 14% long, matching the short and mid-term technicals. The Cable sees a mix of green and neutral models on both its short and mid-term charts. The 24-hour scale turns neutral with 5 studies, and it is supported by the less than 6% short interbank.