GBPNZD Falls as No-Deal Brexit Looms

The possibility of a no-deal Brexit received another boost after Boris Johnson became Prime Minister of the UK. The market, however, doesn’t seem to like those prospects. The Pound Sterling has been losing ground against the Euro, the Aussie, the US dollar and other rival currencies. GBPNZD is down, too. Less than three months ago,…

Read More »

GBPAUD On a Slippery Slope Towards 1.53

If you take a look at how GBPAUD has been doing between October 2016 and March 2018 you might think Brexit never happened. The British pound rallied from as low as 1.5322 to 1.8509 against the Australian dollar, gaining almost 21% in those 18 months. As of this writing, the pair is hovering around 1.7720,…

Read More »

EURGBP Prone to More Weakness

EURGBP has been rising for over two months now. The pair’s journey to the north began from 0.8313 in mid-April and did not stop until 0.8879 was reached on June 28th. However, everything comes to an end and the euro’s rally against the pound is unlikely to be an exception. In fact, judging from the…

Read More »

GBPCAD Bears Have Officially Returned

The last time we wrote about GBPCAD was almost half a year ago. On January 16th, 2017, the pair was hovering around its lowest level since July, 2013, after a decline from 2.0972 to as low as 1.5736. Usually, trading in the direction of the larger trend is a good strategy. Except when it is…

Read More »

GBPAUD Plunging Like There is No Tomorrow

It has been a little over a month since GBPAUD reached 1.7650 on May 10th. The day before, May 9th, we published “GBPAUD About to Change Direction”, sharing our Elliott Wave-based opinion, that instead of joining the bulls above 1.7600, traders should stay aside and get ready for a major bearish reversal. Here is the…

Read More »

GBPAUD About to Change Direction

The GBPAUD exchange rate climbed to levels not seen since September, 2016. The pair is currently trading close to 1.7600, nearly 19 figures above the bottom at 1.5757 registered in October last year. Rising prices could be tempting, but also dangerous. In fact, the daily chart below suggests the British Pound is at a critical…

Read More »

Theresa May Only Did the Bulls’ Dirty Work

It has been a wild ride for GBPUSD this week. The pair initially opened with a huge gap to the downside, following Theresa May’s “Hard Brexit” comments, but then reversed to the north to climb from as low as 1.1987 on Monday to as high as 1.2414 on Tuesday. It turned out that those, who…

Read More »

GBPCAD Threatens to Kill Late Bears’ Profits

It has been over two and a half months since our last post about GBPCAD, called “Not the Time to Join the Bears in GBPCAD”. The title speaks for itself – while the pair was trading near 1.6290 on October 31st, 2016, we thought a significant recovery should be expected, before the downtrend resumes. But…

Read More »

GBPNZD Aiming at 1.8000. Here is the Reason

GBPNZD almost reached 1.8000 a month ago, but the bulls ran out of fuel a fraction of a pip lower. Then the bears took the torch to drag the pair as low as 1.7212 as of today. However, instead of selling after e decline of almost 590 pips, we believe the buyers are ready for…

Read More »

GBPUSD: How to Anticipate Fake Breakouts

We saw a lot of those so-called “fake breakouts” in GBPUSD during the last two weeks. On January 3rd, the pair fell to 1.2199, only a pip below the previous swing low of 1.2200, but just enough to activate a lot of sell orders. Unfortunately, the bears gave up right away, allowing the bulls to lift…

Read More »

GBPUSD and the Unreliable Trend Line

GBPUSD is back in bearish mode after it fell to as low as 1.2245 today. That is 530 pips below the high of 1.2774 reached two weeks ago. While most people would say the Fed’s decision to raise rates is the reason for the pair’s plunge, we think that GBPUSD would have plunged with or…

Read More »

Riding GBPJPY’s Post-Election Rally

GBPJPY bulls must be very pleased with what November brought them. The pair has been steadily rising since the U.S. election, which caused a decline to 126.70. Nine days later, today GBPJPY climbed to as high as 137.57 and is currently hovering around 137.10. Could this impressive rally be predicted, especially after the strongly negative…

Read More »

Not the Time to Join the Bears in GBPCAD

The Pound Sterling has been the biggest loser among all other major currencies in 2016, so it no surprise it has falling sharply against the Canadian dollar, as well. GBPCAD was hovering close to 2.1000 in August, 2015, but after a series of crashes and selloffs it is currently trading below 1.6300. However, selling just because…

Read More »

EURGBP Still Has Plenty of Room to Rise

Our last post about EURGBP was published on August 23rd, while the pair was trading near 0.8600. There were two charts included in that material, showing two different counts, but in any case, we thought we should see at least a small pullback, before the uptrend resumes. “It definitely does not seem to be the…

Read More »

EURGBP: Time to Turn Bearish?

EURGBP has been in a strong and steady uptrend since November 2015, when it finally managed to leave the area between 0.6930 and 0.7100. The consecutive bottoms were needed for the bears to realize the support zone there was too strong for them to breach. Last week, the pair climbed to 0.8724. But every trend is…

Read More »